hutch5376 Posted February 16, 2014 Report Share Posted February 16, 2014 I am thinking of selling a house I own. The problem is that it has a tenant. The tenant enjoys living there and wants to stay. I have told him I will not sell unless someone buys the house with a tenant . The house was valued in October last year at £74995 and I get £5460 pa in rent. The rent is paid by DSS as he is long term sick. He keeps the house very clean and never bothers me unless anything goes wrong. He's that good of a tenant I would gladly GUARANTEE the rent for TWO years and provide FREE maintenance as I am a Plumbing & Heating engineer . Where can I find investors who would talk to me about this sort of thing ??? Kind Regards John Link to comment Share on other sites More sharing options...
essence_4 Posted February 16, 2014 Report Share Posted February 16, 2014 Hi,a lot of investors would be interested - where is the property location as i would be interested? Sharan Link to comment Share on other sites More sharing options...
hutch5376 Posted February 16, 2014 Author Report Share Posted February 16, 2014 Hi there Sharan. The address is Second Avenue in Grimsby. Its next to the Diana Princess of Wales Hospital. It's a two min walk to the shops and local schools and five mins from the college and new university . You can view it on Google maps. I placed a new combi boiler last year . I would also be offering upon completion of sale all new double glazing . I am erecting a new fence in March for the whole back garden and putting in a new bath within a week or so. I also intend on replacing all the radiators. There is nothing wrong with the ones in there, just a cosmetic upgrade..All the extra bits I am offering would be part of the contract of sale. Hope this helps John Link to comment Share on other sites More sharing options...
Richlist Posted February 16, 2014 Report Share Posted February 16, 2014 Where can I find investors who would talk to me about this sort of thing ??? Estate agents Property web sites Local newspapers Sign in the window Property auctions etc etc Link to comment Share on other sites More sharing options...
Melboy Posted February 17, 2014 Report Share Posted February 17, 2014 eBay UK Property would certainly give you total National coverage. Word your advert correctly with ALL the information available that you can think of especially what you have mentioned on this forum. Lots of investor's out there willing to have a punt on a good tenant and a property in good condition. If it wasn't in Grimbsy then I would have a go at something like this as I have done this before twice with success. Link to comment Share on other sites More sharing options...
Mortitia Posted February 17, 2014 Report Share Posted February 17, 2014 Hutch - I assume that you have a 'sitting tenant' or regulated tenant in this property, he does not have an actionable AST and does not want to leave - is that right? Best place to sell one of these properties is at auction - there are many companies such as Savilles and my favourite Alsop's ( I have no connection with them). At auction completion is within 14 days so no hanging around for the money. All these firms do online catalogues and Alsops now take phone/internet bids which adds to the amount of prospective buyers who could be interested in your lot. Link to comment Share on other sites More sharing options...
Richlist Posted February 17, 2014 Report Share Posted February 17, 2014 There are lots of positives & negatives when selling at auction with a sitting tenant eg. * Prospective landlords will like the idea of not having a void / having to find a tenant on completion. * If sold then completion is very quick. * You have to have lots of the legal work already in place prior to auction. * Property with sitting tenants don't usually achieve top prices. * Selling at auction carries risks......low selling price or no sale but lots of upfront cost (legal & auctioneer) * etc etc. There is no substitute for doing your homework on this. Link to comment Share on other sites More sharing options...
Melboy Posted February 17, 2014 Report Share Posted February 17, 2014 Auction houses are OK but there will be upfront costs non refundable of course. I put my late Mother's house up for auction back in 2009 and the fee would have been £300 non refundable plus some other costs even if it didn't sell but to be fair I knew it would sell so I wasn't overly concerned. In the end it was sold prior to auction with the same estate agent / auctioneer so I didn't get caught on any extra charges. Personally I would go for the cheapest advertising option at this stage of the proceedings for around a month and see what happens before shelling out any serious money. The last place I bought was virtually on word of mouth BUT you, as the seller, with a sitting tenant must take into account there will be a drop of any perceived property valuation you may have. Link to comment Share on other sites More sharing options...
hutch5376 Posted February 17, 2014 Author Report Share Posted February 17, 2014 Hi everyone . Thank you all for your replies , Its all been very helpful. However I do not think auction is the right way for me as I do not believe I would obtain the money the house is worth. : - ) Link to comment Share on other sites More sharing options...
OnlineAgentUK Posted February 19, 2014 Report Share Posted February 19, 2014 Hi everyone, I represent Online Agent UK www.onlineagentuk.com Please take a minute to view our website and see just how much we can save Landlords & Vendors. We are online, thus no need for shops, and therefore we are saving investors thousands across the UK. Thank you for your time! Regards, Bradley Link to comment Share on other sites More sharing options...
Richlist Posted February 19, 2014 Report Share Posted February 19, 2014 What website.....can we have a link please ? Link to comment Share on other sites More sharing options...
Melboy Posted February 20, 2014 Report Share Posted February 20, 2014 Hi everyone, I represent Online Agent UK www.onlineagentuk.com Please take a minute to view our website and see just how much we can save Landlords & Vendors. We are online, thus no need for shops, and therefore we are saving investors thousands across the UK. Thank you for your time! Regards, Bradley Over the years there must have been hundreds of websites springing up such as this. Most have disappeared and the reason for that is that you do not get the sales coverage or the interest of people putting money up front. I have just taken a sample of 10 areas looking for property for sale on your website and it comes back as "zero results". Local town and city EA's are still the best way to view properties locally and of course Rightmove is the best website for property searching. Link to comment Share on other sites More sharing options...
Melboy Posted February 20, 2014 Report Share Posted February 20, 2014 What website.....can we have a link please ? www.onlineagentuk.com Link to comment Share on other sites More sharing options...
Mortitia Posted February 20, 2014 Report Share Posted February 20, 2014 ......and can we have some stats on how long to sell/ let over what % of properties and how many completed deals (in numbers) sold/let in last 6 months? Just saying 'we save people loads of money' is unscientific, not realistic and not helpful! Link to comment Share on other sites More sharing options...
Richlist Posted February 20, 2014 Report Share Posted February 20, 2014 Anybody can set themselves up as an 'estate agent'....... looks like this might be an anybody !!! Link to comment Share on other sites More sharing options...
OnlineAgentUK Posted February 21, 2014 Report Share Posted February 21, 2014 Hi everyone, thank you for the feedback. Yes there are quite a few online agents about now, and there will be plenty more springing up and less high street agents available. Everything goes Online whether we like it or not. We pride ourselves on our professional approach and expertise within property as a whole, alot of us being Landlords ourselves so we know the frustrations of the business. Our packages are as follows:- Sell Price Option1 - £399 upfront + VAT Price Option2 - £199 upfront + £399 on completion + VAT Price Option3 - £99 upfront + £599 on completion + VAT Price Option4 - 0.5% Commission on completion + VATLet Tenant Find Service (upfront) £69.00 + VAT) Tenant Find Service (£0 upfront, £99.00 on completion) £0.00 + VAT Tenant Find Service and Full Management + Free Rent Guarantee and Legal Expenses cover (at 8%) £69.00 + VAT Tenant Find Service and Rent Collection Free Rent Guarantee and Legal Expenses cover (at 4%) £69.00 + VAT We take professional photo's with correct lens, and incl floorplan with all sales packs. With Staff at our Head Office looking after every detail and Sales Associates across the UK meeting with our clients, and holding viewings & open days. I was with one of my colleagues earlier and in the space of 30mins he's Let two properties, and sold another - all listed this week. Whats not to like? We are a fast expanding UK company just bringing lower costs and professional service. All ads go directly on main selling portals Rightmove, Zoopla etc. www.Onlineagentuk.com 0844 257844 Call now to book your visit. Thank you. Link to comment Share on other sites More sharing options...
Richlist Posted February 21, 2014 Report Share Posted February 21, 2014 Whats not to like? Let me tell you why I don't like and why I'm apprehensive & lack confidence in your ability to deliver exactly what I want. 1. I don't like upfront fees of any kind. High street estate agents ONLY get paid when the property is sold. Therefore they have more of an incentive to find me a buyer.....paying upfront fees will reduce that incentive. 2. I've never heard of you before...... & neither have the few others in the business that I've spoken to today. As you are not well known your web site won't be used extensively by potential buyers. 3. I can get a high street agent to market my property with a 7 day sales promise to find me a buyer. The fees...... If sold = £1K + vat If not sold = no fee 4. A high street presence is a massive advantage.......without that high street presence it leaves your firm at a disadvantage. Link to comment Share on other sites More sharing options...
Grampa Posted February 22, 2014 Report Share Posted February 22, 2014 I do agree to a point with RL and as a agent who does both sales and lettings I try to keep a eye on my local competitors and have found some of the muti chain agents up the road from us have started charging up front fees in the form of professional photo packs and inflated epc charges. (2-300 quid)It is frustrating as a agent when you spend months trying to sell a property with all the time and cost of advertising and the vendor refuses to drop the price (due to lack of interest) then dis-instructs you at a later date, goes on with another agent at the lower price you recommended at the outset and sells and you have nothing for your time and effort.We have also just recently had a property for sale for over a year ( priced correctly but unusual layout)without much interest and got 2 interested parties biding over it this week up to the asking price. Guess what? the vender has now changed their mind. We did always wonder how serious she was about selling as she was difficult over viewing etc. Nothing to show for our troubles.As the market is slow when we are at the moment we have one competitor who is hugely overpricing to get the property. To give an example 3 agents went out to do a market appraisal, 2 of us came in at 290-300k and the 3rd at 350/360k but with a lot higher commission fee. I guess the plan is to get the property taken on and after 2 months without interest they then persuade the vendor to drop the price but still have a nice juicy commission rate.And estate agents wonder why they have a bad reputation? Link to comment Share on other sites More sharing options...
Richlist Posted February 22, 2014 Report Share Posted February 22, 2014 As the market is slow when we are at the moment we have one competitor who is hugely overpricing to get the property. The market in my part of Essex has lots of potential buyers and hardly any properties for sale ie a sellers dream. Rightmove for example has a massive shortgage of flats in my area. I'm just about to put one property on the market. I've done all my homework....... * I've prepared the property for sale, * I've looked at previous/ recent asking prices/ sold prices for similar properties. * I've discussed my requirements with agents. * I've explained I'm flexible on price but don't want to either price to high and wait weeks for a buyer or price to low and give it away. * I've considered including an incentive like paying the buyers legal costs etc. So, most agents know what they are going to be dealing with....ie someone who will work with them to achieve a sale. One agent offers a '7 day promise'. They promise to sell your property within 7 days, no upfront fees and at a very attractive fee without being tied in for 12 weeks. Its a bit of a no brainer for a seller. Link to comment Share on other sites More sharing options...
Grampa Posted February 22, 2014 Report Share Posted February 22, 2014 We always justify our valuations with a print out of similar sold properties in the same area but if you get someone who isn't very savvy of knowledgeable of the property market they just jump at the promise's from some slick salesperson in a cheap suit. PS I don't wear a suit or do the valuations. Link to comment Share on other sites More sharing options...
Melboy Posted February 22, 2014 Report Share Posted February 22, 2014 Most of the sold properties on this website are regional sales and not national which highlights exactly what I pointed out. The main sales and for sale are restricted to the South East of England. The three properties "withdrawn" were in Manchester. That tells a story. Nobody is going to go straight to this website and think this is the place for me to be to buy or rent a property and thrust money into the chance of selling or renting their property. I think it's fair to say that I have bought and sold many many propeties over many years and not once have I been convinced that an online agent is the way to do any business. You will never beat a good local EA with personal contact in fact, any good properties are sold before they hit Rightmove.......trust me on that statement and as for rental properties word of mouth or local free advertising is nearly always. successful for the experienced landlord. Link to comment Share on other sites More sharing options...
Richlist Posted February 22, 2014 Report Share Posted February 22, 2014 Totally agree. Link to comment Share on other sites More sharing options...
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