Advice on selling a house (bungalow) quickly for an elderly couple?
What is the most recommended estate agency in Banbury, UK?
My grandparents are wanting to sell their 2 bedroom bungalow quickly, but they need a trustable estate agency they could always rely on.
They were with Connells but they are useless (Connells never communicated with my grandparents) about the house and any viewings and they had taken their property off the market two months ago, and now they want to put it on the market again.
What should they do, any advice?
The market has been dropping … and buyers have been loosing their jobs and finding it difficult to get Mortgages .. and the ’smart’ ones are waiting for prices to drop further ..
(which it is quite likley to do)
If they really need to sell, there are two possible answers :-
1) Drop the asking price to 10% below the current ‘market level’ .. and be prepared to accept an offer 10% below that
2) Go to Auction .. and be prepared to get 30% lower than the ‘Market price’ ..
The final option is for your Grandparents to sell some part of the house to their kids / grandchildren … yes, I know it seems like they are paying for their ‘inheritance’, but at least the WILL get the house (this is by far a better choice than putting it into the hands of the ‘Equity Release’ cowboys .. where your Grandparents will be lucky to get 10-25% of the Market value and the kids will inherit nothing)
Alternatively, they should accept that the housing market is unlikely to recover for 5 – 10 years and they may just have to sit it out ..