Selling property in severe disrepair

stuart45

Remember that a lot of estate agents have property developers buying through them, and get decent backhanders to sell to them at a low price. Probate sales are amongst the most profitable for them.

youth_leader

It did make me wonder @stuart45.  The EA must have said 'poor XXXX has already spent SO much money' many times to me during the negotiation.  When he proposed I do the £50K worth of work and his 'mortgage' company would inspect it and lend him the money if satisfactory, I left the EA and withdrew from the sale and said I was going to auction.  He didn't bid on the day, the auction house rang all viewers the next day and he bid the most - £275K.  He asked for eight weeks to complete which I did agree to thankfully - as it was lockdown the removal company wouldn't help me.  I had to use my kids sledges to get the boxes out of the house, we had 18 steps at the front.

I had to settle as my freedom from the worry was priceless but I definitely was cheated.  I think it was worse as I wouldn't have moved if my husband was still alive - and I don't think my husband would have been treated in the same way if I had passed on.

I was renting up the road and on completion day saw 'poor XXX' drive up in his top of the range BMW.  Three years on his LBC planning permission has been granted - if he does it all, he's spending about £500K. Poor XXXX!

seller2024

Thanks so much for taking the time to offer advice and particularly things to watch out for! Sounds like the general advice is to not do too much in the way of repairs and sell as is (after clearing the place). I like the idea of getting f a few estate agents in to hopefully avoid the ‘property developer backhander issue’ and advice on selling through the open market v traditional (not modern) auction. Thanks all!