Estate Agents

[Prettytom]

2 hours ago, despritdan said:

I'm referring to properties priced at £350,000 and above and at that price, I'd expect them to be in good condition. I don't think dead people can put properties up for sale.

£350 000 is relatively cheap in quite a few parts of the city.

 

The condition of the property is usually reflected in the price. Personally, I wouldn’t be put off by a house requiring renovation. I’m much more interested in buying the rolight sort of property in a good location. Roofs, walls, gardens are all relatively easily sorted.

[despritdan]

17 minutes ago, peak4 said:

Very much depends on the circumstances;
I was involved in putting a property up for auction, which was in need of a full renovation.
The auctioneer's advice was to do nothing, so that the potential developer new exactly what needed doing, and could see clearly that nothing had been done to cover up any defects.
Similarly, when I sold my previous house, no central heating, in need of a full rewire, etc, the estate agents advice was to leave it clean and obviously cared for, but not to do any other work.
That was so a potential buyer could see exactly what needed doing, and a surveyor would be less likely to spot something that a potential buyer missed.
Less chance of the sale falling through at the last minute, should a prospective buyer suddenly find out that there was extra work outside their budget.
When showing folk around, I was scrupulously honest about any known faults for the same reason.
In both cases, the property went for more than anticipated.
 

Thanks for your reply, it's interesting that you were advised not to make any improvements on the properties you sold.

[peak4]

2 minutes ago, despritdan said:

Thanks for your reply, it's interesting that you were advised not to make any improvements on the properties you sold.

It does depend on the circumstances, if one had been a first time buyer's property in perfect condition, then re-painting in neutral colours might have enhanced it beyond the price of the paint, so long as it was clear that it wasn't done to hide anything; maybe photograph it before painting to show open honesty.

On the other hand, the house we bought might only have still been on the market because of the internal colour scheme.

Yes, it was also next door to a new building development, which would put off some potential buyers, but they may have known about that before visiting.
The estate agent who showed us around, warned us in advance about the colour scheme; as if the photo brochure didn't make it obvious enough. 🙂

[Annie Bynnol]

     Having jointly inherited a houses and being a joint  executor I am obliged by law not to spend any money on 'cosmetic' work without express written permission of all parties- except minimum expenditure on making the place safe and maintaining access. Spending money before selling a house is usually seen as a waste of money and time as the buyer will have their own plans for the property. Also the 40% inheritance tax means for every £1000 spent on improvements you would need to sell for £1400 more just to break even so IT and VAT means you are giving the Government £600.

     Having said that if your sales pitch is for a 'family home'  which a family can move into on exchange, then you would have to maintain and fix. Any expenditure would be a cost and not a gain.

 

[echo beach]

6 hours ago, despritdan said:

I've been looking at some properties for sale recently and can't believe the state some of them have been left in by the sellers. Surely, one of the duties of estate agents should be to advise their clients on what needs doing to their properties before putting them on the market eg, if part of the roof is sagging and covered in moss, get it checked out and repaired if necessary; if any of the brickwork needs repointing, get it done; if there's broken concrete at the front or back with grass and weeds growing between the cracks, get it mended or replaced; if the garden looks like a jungle, hire a gardener to tidy it up; if there are garden fence panels that are broken and falling apart, get them replaced; if there are holes in the internal walls where the plaster has broken and fallen away, get them replastered; if the gas fire has been disconnected because of a leak, get it mended; if one of the curtain rod support brackets is broken, replace it instead of leaving the curtain rod hanging down at one end; if there isn't a tv aerial, get one installed and finally, don't leave the ashes of a dead person in a kitchen cupboard for prospective buyers to find when looking around (yes, really). Isn't it just common sense?

If it’s not fit for human habitation and has a demolition order on it then buy it quick and spend some time and money renovating it and saving it from extinction.

That’s what we did and have no regrets whatsoever.

Make a house a home and you’ll love it.

 

echo.

[echo beach]

4 hours ago, ECCOnoob said:

It also depends on location. 

 

Some properties just sell.  Some properties are fortunate to be in an area of high demand.  The owners will know that, so they are more than happy to chuck a property on the market with holes in the ceiling, stains on the carpet and a turd floating in the loo  because they know it will get interest and start a bidding war within days.  

It’s when there’s a turd floating in the washbasin that you need to start worrying!😆

 

echo.