Best way to get a quick sale

(14 Posts)
Womencanlift Wed 01-Jul-20 07:46:02

Will start this by saying I am in Scotland as this may impact choices

I have a property that has been rented out and as a result of it not being looked after it needs quite a lot of work.

I just want rid of the property and cut my losses as for various reasons it is too much hassle and feels like a noose round my neck. It was initially my property but had to rent it out when my circumstances changed.

Don’t necessarily want to make money on it as long as I get enough in a sale to cover the outstanding mortgage I will be happy

Any advice on what is the best way to get a quick sale?

OP’s posts: |
Finfintytint Wed 01-Jul-20 07:49:50

Put it on at lower than the market value is your only option I suspect.
Have the tenants gone? It will slow the process down if not.

Womencanlift Wed 01-Jul-20 07:59:27

Yes property is currently empty.

I had heard about these cash buying companies that offer a quick sale and just wondered if they were legit

OP’s posts: |
PotteringAlong Wed 01-Jul-20 08:00:29

Price it low. It will always sell for the right price.

Mosaic123 Wed 01-Jul-20 08:19:54

Put it in an auction with a reserve price?

Veterinari Wed 01-Jul-20 08:37:42

Where is it? The property market is still fairly active at the moment if it's in/near a big city or desirable area it may sell quickly. Put it on for 5k under the HR value and see what comes in

ThroughThickAndThin01 Wed 01-Jul-20 08:42:06

Cash buying companies can be legit but will probably only want to pay you 60/70% of the market value.

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TheChestnutCafe Wed 01-Jul-20 08:47:10

Don't use a property buying company.
Years ago I was struggling to sell my first house and I was offered 80k by one of these companies, which wasn't too far off the market value at the time. I agreed and 2 days before it was due to go through they dropped the offer to 50k because of some minor issues the survey had shown up.

Obviously I refused and I ended up selling it at auction for just over 80k.

Be very wary if you are thinking of using one of these firms.

EmperorCovidula Wed 01-Jul-20 08:49:40

Cash buying companies are legit but will offer a very low price. In your place I would just put it on the market below market value and seen whether there’s interest first,

Earslaps Wed 01-Jul-20 08:50:01

Even though you don't want to do a lot of work, it's still worth tidying it up as much as possible. It's amazing what a lick of paint and clearing a garden can do for a house. Plus easy things like hiring a carpet shampooer so it looks a bit nicer and smells fresher, cleaning windows for more light etc.

It might need lots doing, but if it looks like people could move in and work around themselves (rather than buying and having to gut the place) then you will increase your market and hopefully get a higher price and/or quicker sale.

Price it slightly below the market rate but not so much people will wonder what the hell is wrong with it. And make it known you'll accept a very good price for a quick sale!

Pipandmum Wed 01-Jul-20 08:54:03

Make sure it is spotless clean - shampoo carpets etc. Other than tidy up of outside space I wouldn't bother with much more - people can see (and smell) through a quick paint job. Then price it very competitively. Some people love a door upper.

DeepSleepBathSoak Wed 01-Jul-20 08:56:04

Price it cheaply! Look at what other pepple can get in that price bracket. Eg if it's a 3 bed for the price of 2 people won't mind doing it up a bit.

Womencanlift Wed 01-Jul-20 09:06:14

Thanks for the advice everyone. It definitely needs a new bathroom and other bits and bobs so it is definitely a do upper.

Will have a look at what the sold prices are locally and take it from there.

Didn’t even consider auctions so that’s an idea I will look into.

Thanks again smile

OP’s posts: |
SilverLiningSearching Wed 01-Jul-20 20:42:13

Echo what @TheChestnutCafe said about property buying companies. They gave my mum an offer of under 25k of market value,strung her along then dropped it by 20k. It might not sound a lot to some but the house was in a poor value area so this was a large % of remaining value.
We trusted their Trust Pilot rating but now no longer set any store by them.
Fortunately my mum withdrew from the company and sold for 8k under market value. Try Get Agent Website it tells you how long properties stay on agents books before sale. We found the one with the fastest property turnover and went for them. Sold in 10 days.
Good Luck

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