best way to sell house needing repairwork

calamitysil

Hoping someone out there can give me some advice!
Due to imminent divorce and financial crisis, we are putting our house on the market. Unfortunately our dorma roof needs replacing but we simply don't have the money to repair that, and recent bad rains have caused a fair bit of ceiling damage to the upstairs room. I'm assuming estate agents will not want to sell our property as it needs work doing, so it looks like the only other way is to try and find a "reputable" quick sell company which offer substantially less than market value, or is there any other way to tackle this problem? The quick sell solution seems tempting as I don't want to live here longer than necessary and also it would release money to pay off the mortgage and hopefully some of our debts (depending what we get!)....on the other hand, the house and area would be desirable to many so it would be crazy just giving it away

Dan29

Welcome to MSE - Doozergirl will be along shortly

I reckon agents will be falling over themselves to sell your house. You should get a decent price for it if you market it "in need of renovation" or similar, as people often pay over the odds for such properties thinking they must be getting a bargain

The best place to start is read the guide on here about how to sell your house, and then get agents in to see what they say.

dolce_vita

First of all, you should stear clear of those companies that buy your house quickly for cash- most of them are lying thieves and will rip you off.

If the roof of your dormer is the only major problem with the house then this is not such a big deal and if you put the house up for sale at a realistic price someone will buy it regardless.

House with potential to add value are often in demand and sell for not much less than those which have been completely renovated because people like these type of projects.

finally if you are having financial difficulties go over to the debt-free wannabe forum where there are lots of people in similar situations who will offer good advice about cutting costs, generating income etc.

stay calm and good luck

jamie304

Don't worry about it, estate agents will sell anything! Get a few round for a chat and valuation.

DawnW

You might also consider auctioning. Avoid going to those companies paying below market value.

Libra1975

You are assuming wrong, from what I have seen estate agents will sell anything that will give them a fee, all they will do is factor in the repair work that needs doing in the valuation. I would proceed as if the house is fine i.e. get some EA in to do valuations etc.

calamitysil

Thank you everyone, for the responses:D!

I think we may go the EA route after all, providing it doesn't take too long to sell. I've read about the quick sell companies and obviously I don't want to use them unless I'm forced to.

BrixMorta

The best way forward here would be 'Informal Tender' through an EA. Find one who can handle this and set a realistic reserve. This will in effect Hype your property and you'll receive staggering results.

PasturesNew

Also - even though you can't afford it, it would be worth your while getting some quotes from builders just so any buyers would know how much it is likely to cost them (saves them wasting your time if they're clueless).

Although the house is likely to sell to somebody who can do the work themselves.

Market it as: needs work .... priced with this in mind

So, either an estate agent, or auction (you can put a reserve on to stop it going too low if you're nervous)... but NOT one of those funny firms.

budget_counsellor_shaz

calamitysil wrote: »

Hoping someone out there can give me some advice!
Due to imminent divorce and financial crisis, we are putting our house on the market. Unfortunately our dorma roof needs replacing but we simply don't have the money to repair that, and recent bad rains have caused a fair bit of ceiling damage to the upstairs room. I'm assuming estate agents will not want to sell our property as it needs work doing, so it looks like the only other way is to try and find a "reputable" quick sell company which offer substantially less than market value, or is there any other way to tackle this problem? The quick sell solution seems tempting as I don't want to live here longer than necessary and also it would release money to pay off the mortgage and hopefully some of our debts (depending what we get!)....on the other hand, the house and area would be desirable to many so it would be crazy just giving it away

I agree with Dawnw

You will be better off selling at auction if you want a quick sale. You will not risk anyone pulling out or changing their minds partway through the sale. There are lots of auctions all over the country. You can put a reserve price on the property if you want to. When the house goes to auction after 30 days the house is sold. Much quicker than the conventional way of selling houses. The house normally sells around 10% more than its estimated value in the auction brochure.

Here are some web sites for you to look at:-

http://www.cliveemson.co.uk/
http://www.auction.co.uk/default.asp?Auction=R
http://www.barnardmarcusauctions.co.uk/

You can also view the prices that the auction house obtained in previous sales for properties......how many estate agents do this?:rolleyes:

There are loads of other property auctions around.

I hope this helps
Shaz