Have my property developed

davidtrees

I have a property in London that is in very poor condition. So much so it would be difficult to sell except at auction.
I don't have the money, time or experience  to renovate myself so I was wondering if I could get someone else to do this.
Would it be possible to hire someone on the basis that they would fund and organise the work and then be paid from the sale of the house?
It would mean they could make money redeveloping a house without having to buy it first.
Has any one heard of this being done this way?
Thanks

Doozergirl

Well, yes.  You could go into partnership with someone.   But it would be easier for most people to buy it first.  And you would have to trust that the cost of work was fair.  

Depending on how bad it is, you might make more (and experience less hassle) selling it to someone who wants it for their home, rather than wanting to make a decent profit shared with you.  

When you say auction, is it really that bad?  Is it in a decent area?   Does it have much prospect to be extended?   That would probably affect how lucrative it would be for both parties.