Probate property - to auction or not?

Doshwaster

getmore4less said:

do some research.

here is a link for 2bed terraced in SSTC for wide area NE.

look at the  forsale/SSTC data

There is plenty of demand 

0-50	168/232
0-60	272/443
0-70	400/657
0-80	522/873
0-90	621/1071
0-100	697/1203
0-max	962/1683

Home in with a narrower areas and take a closer look at your valuation price range to see if it looks realistic
Against what's for sale and SSTC then look at the sold through prices for the area.

Thanks - there is certainly demand for "doer-uppers" in the area. It would be a good buy for professional developer and when refurbished would make a nice family home. The houses which have struggled to sell in the area are mostly those at the upper end of the local price range and have been put on at unrealistic asking prices. 

This is all new stuff to me. I've never sold a house before, never mind one which I didn't own and which is over 200 miles away.

getmore4less

There is a saying leave a bit for the next person.

With this place it will start attracting costs, CT only get 6 months from grant.

Once the decision is offload there is the balance between a quick relatively easy sale against longer and trying to squeeze too much.

With out of area you have to use the tools available to get a feel for what's going on as well as listening to the local EA

When you were visiting for clearing did you have a nose around to help get a feel for the area.

Doshwaster

getmore4less said:

With out of area you have to use the tools available to get a feel for what's going on as well as listening to the local EA

When you were visiting for clearing did you have a nose around to help get a feel for the area.

I know the area very well indeed -  I grew up there, went to the school opposite the house and my mum still lives 5 minutes walk away so she has been available to show estate agents around. 

FreeBear

Doshwaster said: - there is certainly demand for "doer-uppers" in the area. It would be a good buy for professional developer and when refurbished would make a nice family home.

House a few doors down from me was sold as a probate property to a flipper. He did quite a bit of work inside and out then tried to market it at quite a hefty mark up. Speaking to the guy that eventually bought it off the flipper, and he was bemoaning the amount of bodgery he was uncovering whilst doing some light redecoration.

"Developers" do not always do a quality job, especially when they are trying to maximise profit.

Doshwaster

FreeBear said:

Doshwaster said: - there is certainly demand for "doer-uppers" in the area. It would be a good buy for professional developer and when refurbished would make a nice family home.

House a few doors down from me was sold as a probate property to a flipper. He did quite a bit of work inside and out then tried to market it at quite a hefty mark up. Speaking to the guy that eventually bought it off the flipper, and he was bemoaning the amount of bodgery he was uncovering whilst doing some light redecoration.

"Developers" do not always do a quality job, especially when they are trying to maximise profit.

That may well be the case but frankly isn't my problem. It's not the job of the seller to vet the quality of the developer.

youth_leader

Good luck Doshwaster, I hope your house goes to a nice family rather than a developer, I wish mine had. 

I'm a Londoner living in the NE,  and sold to a London developer who obviously thought he'd got the house cheap because it's in the north, and trades would be cheap too.  He's successfully alienated the good local trades here by asking them to quote and then telling them he can 'get it done cheaper'.  Word spreads fast here as everyone knows each other, he's a fool.  I'm sad for my beautiful old house, after eighteen months I can only see he's cut down all the mature trees and demolished my pond with its many frogs and newts.