Where and how to market our house?

[M.Wood]

Good evening, hope I can get some advice please.

Need some help in finding a buyer for our a 3 bed house (with full planning permission to build 2 one bed flats on land to the side)in Bristol. The house and flats (when built) are in an ideal location within minutes all the major employers in area etc Rolls Royce, Aerospace, Airbus, MOD, NHS, Avon & Somerset police headquaters. It is also situated close to UWE (University West of England) and The Mall shopping centre at Cribbs Causeway, as well as being minutes from M4/M5 motorways. So location is superb.

The house is a 1950's semi detached with full planning to build 2 one bed flats on land to the side of current property. We are financially unable to fund the build even though we have had quotes from £80,000-£120,000 for both flats. The local council South Glos have also said converting our house into 2 one bed flats would more than likely be granted planning permission, if we applied.

We are also having the title deeds split at present, one deed for house and one for land. Which would give the buyer the option of making a quick £30,000 should they split the property and land and sell seperately.

An estate agent has said flats would be worth £95,000 & £100,000 each and rental of between £550-£600 per month, and our house would be worth £170,000.

The estate agent has told us to market our house for £220,000, an expect to get around £210,000.

We have seen a property that we are very interested in buying and the buyer will sell to us in April 2012 or earlier if we find a buyer.

How would you recommend selling property? We would like to get as much as possible for it but are unsure whether to sell it through estate agent or go to auction. or some other method I haven't thought of.

[brian]

Just go through an estate agent - so far as I recall, Bristol attracts a lot of people working in London, so it shouldn't be too hard to get the attention of buyers.

[DStewart]

Hi,

I would try to find a private buyer who is likely to buy your property with a Joint Venture partner, like a builder. I am sure if the deal is structured in the right way you will be able to sell the property quickly. Remember, you can structure the deal anyway you like. To find private buyers yourself in your area try attending a property network event, or go to other property forums e.g. property tycoon forum. You could even sell it to your local builder. Failing that shop around online for companies that would be interested in your property. Be prepared for low offers, calculate your lowest figure and don't be negotiated past it. Also, there are lots of buyers who would like an HMO (housing in multiple occupancy) so that is also and option when marketing. You could go for an estate agent but you will reduce your chances of selling before April 2012.

Good luck!
Dylan

[drhouse]

Firstly get quotes from at least 3 or 4 agents. Personally I would use an agent as trying to find a private buyer is not easy if you have no experience. The chances of being ripped off are very high. Once you find an agent you are happy with, not just happy with the valuation, then negotiate on the fees. Just because they say 1.5% doesn't mean it has to be that.
Auction is an option but you would have to set a reserve you again would be happy with. This might mean a quicker sale but there are no guarantees.

[sdesign1]

I'd also google the estate agents and see if any of them are getting abnormal quantities of complaints