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About To Put Relative's House On Market

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I'm about to put a late relative's house on the market.... tempting to accept a very low over just to send a message to the EAs and other vendors.

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Are you in a hurry to get shot of it? You'd be a bit daft IMO to go for a much lower than market price just to make a point, and if you are executor and there are other beneficiaries they could well have a justifiable grievance.

Having said that, when we put my mother's house on the market (she had gone into a care home) the EA my brother finally used was the one who gave 3 valuations: one, optimistic, could be hanging around for months, two, fairly realistic, should take about 3 months, three, I'll sell it in a week.

He went for option 3, since none of us lived around the corner and maintenance/insurance/garden were going to be a headache.

It did sell in not much more than a week.

My BIL as executor recently accepted a very low offer for an old aunt's house, but it had been on the market for several months, was in a beautiful but rural part of NW Scotland, and even the EA admitted that the market was 'dead'.

Edited by Mrs Bear

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Are you in a hurry to get shot of it? You'd be a bit daft IMO to go for a much lower than market price just to make a point, and if you are executor and there are other beneficiaries they could well have a justifiable grievance.

Having said that, when we put my mother's house on the market (she had gone into a care home) the EA my brother finally used was the one who gave 3 valuations: one, optimistic, could be hanging around for months, two, fairly realistic, should take about 3 months, three, I'll sell it in a week.

He went for option 3, since none of us lived around the corner and maintenance/insurance/garden were going to be a headache.

It did sell in not much more than a week.

Hi, I am the executor, but no a beneficiary. The two beneficiaries would be happy if I took the "option 3" approach. I wouldn't "give it away" but 10% off average selling price for a quick sale would be ok.

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Hi, I am the executor, but no a beneficiary. The two beneficiaries would be happy if I took the "option 3" approach. I wouldn't "give it away" but 10% off average selling price for a quick sale would be ok.

There you are, then. Empty houses so often look forlorn and unloved, particularly in the winter, and adequate heating can be a problem with insurers who want everything drained and turned off unless someone is staying overnight at regular intervals.

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South coast, few miles north of Bournemouth. But not on the market yet :)

Does it have 'potential' and what's the ballpark figure? +/- £250k?

Son has a pile of cash and is looking for something to do with it.

Bournemouth's a bit far but do-able.

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Does it have 'potential' and what's the ballpark figure? +/- £250k?

Son has a pile of cash and is looking for something to do with it.

Bournemouth's a bit far but do-able.

£250k ball park. 3 bed bungalow, detached. Lot of potential, one owner since built in 1950 ish.

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£250k ball park. 3 bed bungalow, detached. Lot of potential, one owner since built in 1950 ish.

OK thanks. Son will be about later, I'll mention it to him.

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South coast, few miles north of Bournemouth. But not on the market yet :)

It took my GF's Uncle ~18 months to shift her Gran's bunglalow in Charmouth-y area.

OAPs are no longer moving to the seaside.

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It took my GF's Uncle ~18 months to shift her Gran's bunglalow in Charmouth-y area.

OAPs are no longer moving to the seaside.

Were they realistic though with the price, or kite flying?

The one I'll be selling is far enough away from the sea, and with terrible public transport, to be considered land locked :)

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I did not get that involved. I did not fancy having to clear out a bunglow lived in by an incontinent hoarder.

5 skips full of cr.p from TV sales channels and Sunday supplements.

The bunglalow is close to Castlepoint. I really do not know if that's a plus or a negative.

Other than Boscombe, which I know is a cr.phole, I do not know the areas well.

GF is not interested. Her brother is, so I might find out what they've got for it.

Also when I say 'Sold' I mean it in the broadest sense i.e. I do not know if they have the cash or just someone offering to buy the place.

B'mouth is hardly short of places up for sale. It was a forest of For Sales + To Lets last time I went thru.

I would guess there are more probates than you shake a walking stick at.

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£250k ball park. 3 bed bungalow, detached. Lot of potential, one owner since built in 1950 ish.

What you could get for it today and what it's worth to someone who expects prices to fall and is prepared to wait are two very different things.

For a bungalow such as you describe, off the top of my head, I might be looking to pay about £150K and spend another £50K doing it up, making £200K total, but I know you will get a lot more for it at the moment. Don't hang about though or you could end up chasing the market down.

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Well, it's done.... have signed the particulars with the EA, should be on rightmove before xmas. The EA is putting it on for £325k, and was baffled when I said if someone offered £300k I'd snap their arm off. When I mentioned accepting offers, he thought I meant £323,500!!!

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We accepted an offer of £10k below asking price. The buyer had to sell one of their two properties to complete. They accepted an offer from someone with no chain, and all seemed fine and dandy. However, they have now lost their buyer so we're back to square one.

The properties are all bungalows in a popular area for retirees... if they're not selling then something is definitely going on in the market.

Edited by Guest

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Hmm. Looks like GF's Uncle was lucky.

The grandkids have got their money now. More than they were expecting, or at least thats what they say.

The bungalow - which was not worse or no better than the other stuff in the area - sold for ~180k.

Like I said, OAPs are no longer moving to the seaside.

B'mouth is having to survive on locally earned income and house moves.

Could be worse - at least JPMorgan did not go under. Yet. Although it does look like they'll be rapidly downsizing - JPM ROE is a lot less than their COE.

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Well, it's done.... have signed the particulars with the EA, should be on rightmove before xmas. The EA is putting it on for £325k, and was baffled when I said if someone offered £300k I'd snap their arm off. When I mentioned accepting offers, he thought I meant £323,500!!!

:lol: £1500 quid off , i would expect more than that off a 3k car

the british don`t know how to haggle

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Update ... have exchanged contracts, due to complete in a week. The final price was 10% off the EAs recommendation, and they were very reluctant to admit it was overpriced. Worried it would set a precedent for other places on their books ... that's how markets work you knobs!

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Update ... have exchanged contracts, due to complete in a week. The final price was 10% off the EAs recommendation, and they were very reluctant to admit it was overpriced. Worried it would set a precedent for other places on their books ... that's how markets work you knobs!

Good. Nothing worse than having to drive into bmouth when the full summer traffic queues are in place.

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Good. Nothing worse than having to drive into bmouth when the full summer traffic queues are in place.

Indeed, although this place was in BH22, so a few miles away from the summer madness.

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