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tommyboy

Selling To A Developer

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my father inherited a property in surrey and has just obtained probate

a developement company offered the market value 3 months ago of £240k

now they are only offering £220k

they have already purchased one of the other properties in the road and are in talks with another, for which they have reduced the purchase price for them too

We are thinking of just holding out for the developer to pay full 240, i may move in in the meantime and modestly renovate the property. there is an insurace claim that will cover the carpets and walls, due to water leek

do you think this is the best idea? if worst come to worst we can put the property on the market in 6 months once renovated

or is this a silly move, should we just put it on the market now or accept the 220, there is still 11k interest on this a year we are loseing all the time it is empty and unsold

your advice please???

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my father inherited a property in surrey and has just obtained probate

a developement company offered the market value 3 months ago of £240k

now they are only offering £220k

they have already purchased one of the other properties in the road and are in talks with another, for which they have reduced the purchase price for them too

We are thinking of just holding out for the developer to pay full 240, i may move in in the meantime and modestly renovate the property. there is an insurace claim that will cover the carpets and walls, due to water leek

do you think this is the best idea? if worst come to worst we can put the property on the market in 6 months once renovated

or is this a silly move, should we just put it on the market now or accept the 220, there is still 11k interest on this a year we are loseing all the time it is empty and unsold

your advice please???

Doyou know what this developer intends to do?

If they need all the houses, you could find yourself in a very strong negotiating position - you might be able to get a higher price (than the 240) - it really is worth investigating what they want to do - Can you look up other developments they have done recently?

Otherwise, who knows?

You Know what prices are like round you & how desirable your property is.

The other thing to consider is what impact will this propsed development have on other houses? If they are building a Leisure centre - Good, if its a sewage works.........................

good luck

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i believe they want to build retirement flats

but then again barretts have just paid a large sum for a propety only a few houses down,

That'll be a PX though won't it?

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Actually agree with LL on this one (just took my temperature - normal, checked lithium level - within limits....)

I think you need to try and fnd out what the developer intends to do. If they purchase all the other houses apart from yours with the intent of bulldozing everything you *will* be in a strong negociating position.

Do you know what the remaining people intend to do? Is the developer buying up the whole street? If its a Leisure Centre, surely the council would know something?

But, being a true Gemini, I also agree with Libitina's view - if the market tanks in the next 6 months you could be bug*ered. The developer could go belly up and then you'd need to find another buyer.

I would do some research and if that isn't conclusive - flip a coin!!!

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Actually agree with LL on this one (just took my temperature - normal, checked lithium level - within limits....)

I think you need to try and fnd out what the developer intends to do. If they purchase all the other houses apart from yours with the intent of bulldozing everything you *will* be in a strong negociating position.

Do you know what the remaining people intend to do? Is the developer buying up the whole street? If its a Leisure Centre, surely the council would know something?

But, being a true Gemini, I also agree with Libitina's view - if the market tanks in the next 6 months you could be bug*ered. The developer could go belly up and then you'd need to find another buyer.

I would do some research and if that isn't conclusive - flip a coin!!!

Ha ha - love it

Clearly I am spreading some sort of infectious virus.

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I don't understand the issue.

Is the offer a fair price? Do you want to sell? If the answer to both is yes then take the money and stop losing sleep over how to screw a few extra grand out of it!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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