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House auction or Estate Agent?
CazzaWot
Posts: 3 Newbie
Please can someone advise on this matter. My family have inherited a 1950's terrace house on the East Coast. It has not been lived in for 2 years and needs a total refurbishment. We are undecided as to sell through an Estate Agent or put it to auction. Any advice would be appreciated.
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Comments
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Is it mortgageable?0
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Yes, it is a freehold property, very old fashioned but with lovely period features.0
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If it is mortgageable, then get 3 agents round for valuations. Research the market yourself, and decide on a price that reflects its condition.
Then select an agent, negotiate a fee, and shortish contract period, and wait for a buyer to snap up a doer-upper.0 -
Thanks for your help. That sounds like a good plan.0
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It may be worth asking an agent that also does auctions. I inherited a house and they sent to people around - one estate agent and the other from the auction side. The two discussed the options and agreed what method of sale would be best.0
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An auction will get you a lower amount of money, but faster.
An EA should get you a higher sum, but it will probably take a bit longer.
The question is therefore a balance between time and money.0
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