Selling a Derelict House

There are many derelict properties located throughout the UK and if you are the owner of this type of home then you might find extra challenges in selling it compared to other houses.

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Your top questions when selling a derelict property

✅ What types of properties are considered to be derelict?

Generally, a house, flat or other type of property will be seen as derelict if it is considered to be abandoned and has such widespread physical damage and other problems that it is not deemed habitable for people. If you are the owner of a home that fits within this definition of being derelict then you may face some additional hurdles with trying to find a buyer for it.

✅ Why is it potentially harder to sell a house that is derelict?

There are a number of extra hurdles you could experience with attempting to sell a derelict home, including the fact that mortgage providers will be very unlikely to approve a loan for buying this type of property, which would prevent a buyer from proceeding. Another problem with selling this way is that the damage to the home may be too much for some people.

✅ Why might a buyer be interested in a derelict property?

Certain buyers might be looking to demolish the derelict home entirely and then build a brand new house on the same land and therefore they will not be discouraged by whatever problems the property currently has, whereas others might see a derelict property as an opportunity to purchase a home at a discounted value and then fix it up, with a view to selling at a profit later.

✅ Should I invest in repairs at my derelict home before selling it?

Investing in major fixes to your derelict property before attempting to sell it could help to make the house liveable and far more appealing to potential buyers, which may make a sale easier. But there are many homeowners who simply will not have the financial resources, the energy or the time available for pursuing such work, so they will have to sell the home in its current state.

✅ What are the options to find a buyer for a derelict property?

You have four typical options available when trying to sell your derelict house, including selling without the help of a third party, selling through a property auction, selling with an estate agent or selling to a quick home buying company like LDN Properties. All four of these methods have their own advantages and disadvantages in terms of cost, time and other crucial factors.

✅ What amount of commission will I pay when selling a derelict home?

If you choose to sell your home through an estate agent then they will usually charge a fee between 1.15 percent and 1.40 percent of the property’s final sale price, whereas this increases to 2.5 percent of the sale price when using an auctioneer. But if you sell on your own or you sell to a no-commission quick home buyer such as LDN Properties you can avoid any fees.

✅ How quickly will I be able to get a buyer for my derelict house?

The timeline will depend on the method that you use to find a buyer, with selling to a quick buyer like LDN Properties being usually the fastest choice because it should only take a few weeks from start to finish. Selling through an auction can take at least several months and you could find that selling via an estate agent or without any help may take over a full year.

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