Selling a McCarthy and Stone Apartment

Crashy_Time

Cakeguts wrote: »

I seem to remember that they are worth about half of what a non retirement one would be. So if not retirement 1 bed flats are selling at about £100k then a retirement one will sell around £50k.

Retirement flats should be about 25k IMO.

buggy_boy

Crashy_Time wrote: »

Retirement flats should be about 25k IMO.

Id like to see you try to build one for that amount.. Would not even cover the materials let alone land and labour.

mljdamvp

Hello,

Has anyone else had problems selling a Mcarthy & Stone Retirement Apartment, myself and my sister have received the apartment from our late aunt in her will back in August 2017, the apartment has been on the market since then and we have only had one viewing and no offers despite the apartment now being listed at £100k less than was paid for it.

Any advice would be greatly appreciated as really need to get the apartment sold?

Also, has anyone tried an estate agents called retirement move to sell there retirement apartment, if so are they any good?

Davesnave

It's an accepted fact that most of these properties lose a their value and are hard to sell. It won't have helped that McCarthy & Stone have issues of their own:
https://forums.moneysavingexpert.com/discussion/5858219/mccarthy-and-stone-profit-warning

As for specialist companies that will buy these flats from people, they'll be like all the other 'we buy any house' companies, so you'd do better to price the flat realistically yourself.

Plenty on the internet about this. Surprised you haven't looked....

Cakeguts

The second hand value of retirement appartments can be quite low because there is a limited market. If it still hasn't sold at the price you have it listed at then you are asking more than someone is prepared to pay for it. You have to look at this as it was the right thing for you Aunt at the time when she needed it so you sell it for whatever you can get for it.



It will sell if you get the price low enough.

mljdamvp

Just accepted an offer for £180k! :j

mljdamvp

Just accepted an offer of £180k :-)

mljdamvp

silly reply and wrong because just accepted £180k offer :rotfl:

Davesnave

mljdamvp wrote: »

Just accepted an offer for £180k! :j

Someone considered it worthwhile at that price, which is a fair indication of what it is worth.

But the salient points are what you marketed it for originally and what your costs were overall.

I have experience of selling a small probate property suited to late retirement. As you were told on your first thread, this is a limited market and sales often take time, so it's difficult to know how to pitch things. I decided that it would be worth refurbishing my property, but until it sold at a good price there was a fair chance that selling cheaply and re-purposing the money could have worked better.

bouicca21

I think it varies from development to development. From what I have gathered from friends, some are incredibly difficult to sell, others turn over very quickly. I suspect it has to do with what facilities are available outside the development and how walkable it is to get to them, but the ‘sample’ is way too small to be definitive!