Hi collective. I have a nice end of terrance in Bracknell RG12 with great tenants. The house was inherited from my father 2 years ago and it took a long time to go through probate so rather than leave it empty I renovated it to a good level so it made a nice home for someone. However, my sibling now wants to sell and take her half and with the raise in mortgage rates cannot afford to buy her out now So I would like to sell it now. There is literally nothing similar to sell in the area as Bracknell is so popular now and its in a good road. Details are: 2 bed (one single and one double) 2 floors, built in the 90’s, EPC C, was extended my father to have an attached single garage and rear work room off the back of garage. Good sized landscaped rear sunny south facing garden. Upstairs bathroom only. Drive way to front for 2 cars with front garden. All in good condition, recent Karndean flooring downstairs and carpet upstairs/bedrooms. Repainted throughout 1 year ago. Tenants are a young professional couple. Small kitchen with pocket door to save space, large lounge and gas fire. Rent is £1470/mth. Could put it up for auction. Anyone got any suggestions as to auction verses EA?
£14700/ mth ? Extra 0? Selling with tenants in means you will get less for it Check out what is going on in your area and ask agents opinion
Thank you yes. I sell new homes as a job and use to more ‘0’s. I have spoken to agents in the area, and would prefer not to use one.
would they give you a guide price and then you can set a reserve to give to an auction ?
We roughly know as had it valued for the probate. Around £360,000.
Tenanted properties are only avaoilable to investors, so expect offers 10-20% below market value.
Have you asked the tenants if they wish to buy?
Yes and Ive tried to help them afford it. They are still saying no. Such a shame they have really made it their home but they want to be able to pay the mortgage on one salary in case one gets ill.