Self selling

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vegplot

Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd

Posted: Sun Jan 05, 14 1:25 pm Post subject: Self selling

We're at the stage of our straw bale house build where we're going to need some capital to undertake the major works. We have another house which we currently let but that tenant is moving on and we're now have an opportune time to release some funds.

Given the stake of the property market we may well hold on for while but is self selling viable or would we be better entrusting an estate agent? Anyone here done this before?

crofter

Joined: 11 Feb 2007
Posts: 2252

Posted: Sun Jan 05, 14 1:49 pm Post subject:
Probably not the best time to sell, although that is area dependant to some extent. No chance of a self build mortgage?

chez

Joined: 13 Aug 2006
Posts: 35935
Location: The Hive of the Uberbee, Quantock Hills, Somerset

Posted: Sun Jan 05, 14 2:23 pm Post subject:
We tried to self-sell the house in Meifod, with no success. I would say it depends very much on the area. You might do as well putting out word of mouth and a notice in the Post Office if it's a family or couple-type property in a rural area of Wales. In my unqualified and cynical opinion.

Lloyd

Joined: 24 Jan 2005
Posts: 2699

Posted: Sun Jan 05, 14 3:26 pm Post subject:
And newspaper ads with a photo, and sign outside the house.

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun Jan 05, 14 4:08 pm Post subject:

I think the majority of house sales now via an initial inquiry from one of the main online sites such as Prime Location or Rightmove so I'd be tempted to use one of the DIY sites that charges a smaller fee than an estate agent but lists on the property portals.

When we sold our last house we ended up writing most of the details, taking all the photos and doing the viewings - not much left for the estate agent really especially as the Energy performance cert we paid for separately had a house plan.

This was the first thing that came up when I googled and it seems to cover what I might do: https://www.express.co.uk/finance/personalfinance/346832/DIY-route-can-cut-cost-of-selling-your-home

vegplot

Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd

Posted: Sun Jan 05, 14 4:30 pm Post subject:

Treacodactyl wrote:

Excellent advice. Thank you.

vegplot

Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd

Posted: Sun Jan 05, 14 4:31 pm Post subject:

crofter wrote:

Probably not the best time to sell, although that is area dependant to some extent. No chance of a self build mortgage?

Definitely not the best time to sell. The mortgage isn't an issue, we already have one but not on the house we're selling.

Mistress Rose

Joined: 21 Jul 2011
Posts: 16000

Posted: Mon Jan 06, 14 7:25 am Post subject:
Might it be better to get a mortgage on the house you are thinking of selling. If you get one that you can stop any time, if you decide to sell in the spring, or at some other good time, there will be no penalty. You might get another tenant, and so pretty well cover the mortgage. Just another option. We used this method to buy our woods until I got the money from the sale of my fathers property.

joanne

Joined: 28 Oct 2004
Posts: 7100
Location: Morecambe, Lancashire

Posted: Mon Jan 06, 14 7:53 am Post subject:

vegplot wrote:

crofter wrote:

Probably not the best time to sell, although that is area dependant to some extent. No chance of a self build mortgage?

Definitely not the best time to sell. The mortgage isn't an issue, we already have one but not on the house we're selling.

You'd actually be surprised how buoyant the market is - I work for a company that provides a portal for solicitors for all the searches they do and we were extremely busy even in December

Lorrainelovesplants

Joined: 13 Oct 2006
Posts: 6521
Location: Dordogne

Posted: Mon Jan 06, 14 9:38 am Post subject:
i think the market is starting to pick up, but if you decide to sell you will have to price very realistically. Would you not try and re-let? There is loads of letting interest right now.

earthyvirgo

Joined: 24 Aug 2007
Posts: 7972
Location: creating prints in the loft, Gerlan

Posted: Mon Jan 06, 14 9:41 am Post subject:

Lorrainelovesplants wrote:

i think the market is starting to pick up, but if you decide to sell you will have to price very realistically.
Would you not try and re-let? There is loads of letting interest right now.

We are both incredibly busy with our respective businesses and letting can be quite an overhead/burden if you get the wrong tenant.

EV

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon Jan 06, 14 10:13 am Post subject:
If you find the right letting agent, you don't have to do a thing. Not suggesting it's the right ting to do, but it is an option.

dpack

Joined: 02 Jul 2005
Posts: 46249
Location: yes

Posted: Mon Jan 06, 14 1:02 pm Post subject:

Nick wrote:

If you find the right letting agent, you don't have to do a thing. Not suggesting it's the right ting to do, but it is an option.

tis what im getting done on behalf of auntie ,i think the cost is about 10% of rental value

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon Jan 06, 14 1:22 pm Post subject:
I pay between eight and 12.5%, depending on the area, the agent and the service provided.

vegplot

Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd

Posted: Mon Jan 06, 14 1:34 pm Post subject:

joanne wrote:

vegplot wrote:

crofter wrote:

Probably not the best time to sell, although that is area dependant to some extent. No chance of a self build mortgage?

Definitely not the best time to sell. The mortgage isn't an issue, we already have one but not on the house we're selling.

You'd actually be surprised how buoyant the market is - I work for a company that provides a portal for solicitors for all the searches they do and we were extremely busy even in December

We had a look at asking prices in the area over the weekend. It's not as depressed as I thought.

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