To sell or not to sell.....

[SSG1000]

The initial message was deleted from this topic on 24 January 2021 at 12:36

[Ari]

If he won't be able to sell to anyone else because no one else will pay that much for it in the state it's in, surely by definition you're paying more than it's worth?

[SSG1000]

Ari said:

If he won't be able to sell to anyone else because no one else will pay that much for it in the state it's in, surely by definition you're paying more than it's worth?

The main issue is that the kitchen isn't serviceable as it is.... and requires a knock down and rebuild. Thats the main issue, which is putting people off - but for us its not really an issue for us as we'd allow the builders to rennovate the whole place whilst we live elsewhere.

The rest of the house is fine but requires redecoration. Fortunately, we are familiar with local properties on the road, with a friend living on the same avenue. Recently theirs was valued (which is the same size as we are looking to build to) at £495k.

[Medieval Knievel]

Sounds like it’s the sort of property a builder would buy, spend £80k on and make an easy £80k profit. I’d just bite the bullet - how disappointed would you be if someone else got it? Not worth losing over a couple of grand.

[Condi]

SSG1000 said:

Should I bite the bullet sell the house and knock the seller of the house we are looking to buy a few grand? (He won't be able to sell the property to anyone else due to the state of the place and having to spend £100k to get it up to scratch.)

You assume

a) he will take the hit on the price

b) nobody else will offer the same as you.

Neither are certain.

Edited by Condi on Sunday 25th October 09:05