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  • FIRST POST
    • UKNeil
    • By UKNeil 22nd Oct 19, 3:33 PM
    • 14Posts
    • 0Thanks
    UKNeil
    Cash Only Estate Agents?
    • #1
    • 22nd Oct 19, 3:33 PM
    Cash Only Estate Agents? 22nd Oct 19 at 3:33 PM
    My parents passed away over the last 2 years and I am not having much joy selling their property. It is not mortgageable as it is under a licence (see page 3 of brochure). So we are looking for cash buyers only. Is there an estate agent that deals with cash only properties? Its a gorgeous property that i feel is practically unseen by potential buyers. We have dropped it from £350000 to £325000 and now last week to £300000. How do i sell our invisible property??
Page 2
    • Skiddaw1
    • By Skiddaw1 22nd Oct 19, 4:43 PM
    • 287 Posts
    • 418 Thanks
    Skiddaw1
    It's a lovely, quirky property I think but obviously the leasehold/association thing is going to limit your audience. In view of the mooring and fishing rights is is worth trying to advertise it on an appropriate boating/angling website or FB page? Or is there any mileage in speaking to some of the other association residents to see what the general demographic is and aiming at that specific market?


    Someone might want it as a weekend retreat/holiday home if that's allowable.
    • UKNeil
    • By UKNeil 22nd Oct 19, 4:47 PM
    • 14 Posts
    • 0 Thanks
    UKNeil
    Thank you for the input. Odd that the estate agent valued it at 350000. Still market forces dictate i guess. We have had a number of offers from 350,000 to 290000 but its the licence that puts them off and then the offers get withdrawn.
    • UKNeil
    • By UKNeil 22nd Oct 19, 4:49 PM
    • 14 Posts
    • 0 Thanks
    UKNeil
    It's a lovely, quirky property I think but obviously the leasehold/association thing is going to limit your audience. In view of the mooring and fishing rights is is worth trying to advertise it on an appropriate boating/angling website or FB page? Or is there any mileage in speaking to some of the other association residents to see what the general demographic is and aiming at that specific market?


    Someone might want it as a weekend retreat/holiday home if that's allowable.
    Originally posted by Skiddaw1

    Ive already tried it in several facebook groups. I get the same reply. That its lovely and should sell quickly. The photos don't do it justice in any way. Under licence we cannot even rent it at weekends.
    • Comms69
    • By Comms69 22nd Oct 19, 4:51 PM
    • 10,183 Posts
    • 12,354 Thanks
    Comms69
    Thank you for the input. Odd that the estate agent valued it at 350000. Still market forces dictate i guess. We have had a number of offers from 350,000 to 290000 but its the licence that puts them off and then the offers get withdrawn.
    Originally posted by UKNeil


    Exactly, that is why it's worth less.


    It's like selling a Ferrari, but the engine is from a gulf. Initial price great, but...
    • UKNeil
    • By UKNeil 22nd Oct 19, 4:54 PM
    • 14 Posts
    • 0 Thanks
    UKNeil
    So with regards to my original post are there agents that deal with cash only properties? I was thinking ebay but not sure how the pricing system works. At least Ebay would get it out to a different audience.. maybe?
    • davidmcn
    • By davidmcn 22nd Oct 19, 4:57 PM
    • 13,451 Posts
    • 15,379 Thanks
    davidmcn
    So with regards to my original post are there agents that deal with cash only properties?
    Originally posted by UKNeil
    As said above, all agents deal with cash only properties. Never heard of any specialist ones (in the same way that there probably aren't any agents who only deal in mortgageable properties).

    Auctions are a typical place to get rid of unmortgageable and/or "quirky" properties.
    • eddddy
    • By eddddy 22nd Oct 19, 5:02 PM
    • 8,662 Posts
    • 9,010 Thanks
    eddddy
    Cash Only Estate Agents?
    Originally posted by UKNeil
    There aren't any cash only estate agents - but it's certainly worth making sure you have the right 'profile' of EA for your target market.

    I'd guess your target market might be:
    • Retired couples with an "empty nest"
    • Mortgage paid off
    • Wanting to downsize

    That profile of people tend to prefer 'old school', traditional EAs.

    They might not like using Rightmove, or young pushy EAs in shiny suits (who they think look like they are 12), or stainless steel and glass EAs offices.

    Having said that, your current EA does seem to fit the right mould.

    Another consideration is to look at which EAs have been most successful in selling properties like yours.
    • UKNeil
    • By UKNeil 22nd Oct 19, 5:24 PM
    • 14 Posts
    • 0 Thanks
    UKNeil
    Unfortunately it seems most estate agents stick it on rightmove and sit back.
    • eddddy
    • By eddddy 22nd Oct 19, 5:37 PM
    • 8,662 Posts
    • 9,010 Thanks
    eddddy
    Unfortunately it seems most estate agents stick it on rightmove and sit back.
    Originally posted by UKNeil
    Perhaps some do. But I've used many EAs who actively get on the phone and sell property.

    It's worth researching the EAs more carefully. Especially if your target market is retired people - who may not be using Rightmove.
    • AdrianC
    • By AdrianC 22nd Oct 19, 5:47 PM
    • 25,488 Posts
    • 25,056 Thanks
    AdrianC
    For the property to flood then the whole of Worcester would have to be under water.
    Originally posted by UKNeil
    Which, tbf, is not exactly unheard of.
    • UKNeil
    • By UKNeil 22nd Oct 19, 5:54 PM
    • 14 Posts
    • 0 Thanks
    UKNeil
    I've lived here most of my life and never had to canoe to town. lol As I said for the property to flood the whole of Worcester would have to be under water. It just doesn't happen.
    • tom9980
    • By tom9980 22nd Oct 19, 5:54 PM
    • 1,522 Posts
    • 4,239 Thanks
    tom9980
    Overpriced is my view and the area will flood frequently, could present a problem parking a car during flooding i suspect, so while they built it higher you are stuck.
    “In order to change, we must be sick and tired of being sick and tired.”
    • diggingdude
    • By diggingdude 22nd Oct 19, 9:15 PM
    • 1,295 Posts
    • 1,748 Thanks
    diggingdude
    Do you need a certain price? The lower you go the more interest. I would give an auction a try if needed rid
    Last edited by diggingdude; 22-10-2019 at 9:52 PM.
    House owner as of 27.3.2019
    • Cakeguts
    • By Cakeguts 22nd Oct 19, 9:25 PM
    • 6,800 Posts
    • 10,830 Thanks
    Cakeguts
    I think an auction would be the best place to sell it.
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