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If the lady had not given her family power of attorney they may have chosen to let the local council handle her affairs.
westernpromise wrote: »
To turn the question around, the aspiring bidder here clearly thinks EAs add value, because he's very keen for it not to gio through an agent who might find a higher bid than his own.
An EA should be able to get you a higher price, yes, and perhaps as much as 20%.
One thing I have noticed recently is that complete wrecks seem to be as sought after as newly renovated places. If you didn't realise that, you might think that grandma's desperately tired, in-need-of-gutting semi needs to be discounted to sell, in order to reflect the cost of gutting it, when it actually doesn't.
By way of example here's a house local to me. As I noted, it has an outside loo, no room upstairs for more than one bathroom, a 9' by 9' kitchen, and it hasn't changed hands in 92 years. This probably means it hasn't been modernised in 92 years either, hence the outside loo.https://forums.moneysavingexpert.com/showthread.php?t=3403965&page=1212#24224
It's gone under offer - for £1.25 million - within two weeks, which is £50k over the asking price.
Given that it needs everything doing to it, if you were the seller, you might have thought Well, I'll never get £1.25 million...I'll flog it to the nice direct buyer at £1.1 million instead, and save myself £20k in agency fees. If you had - you'd actually have lost yourself £130k.
Nothing stops the vendor here from instructing an agent and saying Right, get me a bid that is higher net of your fee than this one I've already got, and I'll take your bid.
Cakeguts wrote: »
The pricing for that house goes like this. £250k for the house and £1million for the location that it is in. This is a prime example of how a location can either increase or reduce the value of a house. So many people just don't get this.
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