House Selling - Money Saving Tips

docbox

Hi

I want to know whats the best way of buying and selling at Auctions; repossed properties etc?

Would appreciate some advice and some good books to that maybe you could recommend?

thanks

:j

garbadine

Just wanted to say thanks again - we went with one of the agents who came round last weekend ... and managed to beat them down to a rate of 1%! Was really pleased with the result - we just need to sell now!

tina35

I have found some tips also in this site. what do you think marcus? you look so expert

http://www.housebuying-guide.com/first-time-home-buyers-tips/#more-21

regards, tina

aaron.71

JUST SPOKEN TO THE ESTATE AGENTS THAT HAVE BEEN GIVEN THE TASK OF SELLING OUR REPOSSESED PROPERTY, THEY TELL ME THE PROPERTY HAS BEEN VALUED AT £159950...WHAT!!!. THATS WHAT WE PAID 2 YEARS AGO.

BEFORE THE POSSESION ORDER WAS GRANTED, WE HAD THE PROPERTY ON THE MARKET WITH A DIFFERENT ESTATE AGENTS FOR £175000 ( £15000 MORE THAN THE SUPPOSED VALUE NOW).

I SEE A CASE FOR UNDER SELLING!!

ANY ADVISE ON THIS PLEASE......HAVING A GOOD TIME REALLY.

:mad: :mad: :eek:

jamesd

How long was it on the market with the other estate agent? Remember that it's worth no more than what someone will pay and if it had been on sale for a while, that suggests that the price was too high, or too high for the condition of the property. If it was just condition it might later sell for more than the reposession sale price.

aaron.71

We put the house on the market in March of this year, so on market for about 6 months.
The condition was good, we had just redecorated and replaced flooring and skirting etc..
We had a bit of interest including a couple of offers of between 160k & 165k, but at the time we felt was a little low.
I do know that the mortgage lender & new estate agent must clearly market the property to obtain the best possible value in the quickest possible time. They cannot advertise that it is repo property or vacant.
Ive been instructed by the estate agents and lender that 3 valuations would be done, being marketed at the highest value!! yeah I dout that.

I will be speaking to lender again on monday to ask who valued the property and what values were given. If i get a sniff of under selling, I will persue this matter further, with the courts if need be.

Any advice would be greatly received.

aaron.71

can you believeit, estate agents have it on the market for 15k less than we did.

hullaballoo

What a wonderful thread for tips!

We are planning to up our family house for sale in the spring.

It is in a secluded conservation area and a cul de sac within the city boundaries. However the local catchment area for schools is not good. Houses in this area can take months to sell.

Since moving here, we have not been able to spend anything on improving the property. It is 25 years old and in good condition. It still has the original central heating and kitchen - with tired green walls and dark oak units. Is it worth buying a new kitchen in order to sell a house. We are hoping to sell for in excess of 320K. How much do people generally spend on doctoring their house before selling.

Your help is much appreciated .

aaron.71

Hi, I guess a number of factors will determin how much you would spend, such as:

How much work really needs doing?
Will you increase the value of the property enough to cover refurbishment?
How much equity is in the property?
Do you have time to do the work or will you need a specialist?

:think: :think: :think:

hullaballoo

Thanks Aaron, you have given me a lot of food for thought.