Top

Top

Selling an Empty Property 

Selling an empty property is a highly profitable opportunity for the owner. Most people opt to sell their property through an estate agent, a professional property seller who can provide advice on its value, the best ways to sell it and what investment, if any, you may need to make in the property to attract potential buyers.

 

It is advisable to get more than one reputable estate agent to visit the property to give you a valuation and their professional opinion on its sale. You should compare your ideas with their advice and choose the option that seems best for you.

 

You should be realistic about the property's potential. Local house prices will provide a guide but you must assess the condition and facilities of your own property when asking for an estimated sale value.

 

Estate Agents

Using an estate agent to sell the property will make the process easier as they will be responsible for:

  • Valuing the property and advertising it in the best way in order to target suitable buyers
  • Arranging viewings of the property and to show potential buyers around
  • Receiving offers from potential buyers and help negotiate offers
  • An estate agent may be able to advise you on any improvements that could be made to the property to help achieve a sale  
Estate agents fees do vary however generally you would expect to pay between 1% and 3% commission on the sale price of the property for their services. Remember to take advice from at least three reputable estate agents.

 

National Association of Estate Agents 

 

Sell it Yourself 

Selling a property without using an estate agent will be a cheaper option, although it will require more effort on the part of the seller. Although money will be saved on estate agency fees, a legal professional will still be required to carry out the legal process of the sale of the property.

 

The property will need to be valued; there are a number of ways a property can be valued:

  • By a professional surveyor which will incur a charge
  • By an estate agent - estate agents value a property based on the price that similar properties of a similar size and type are selling for in the same area.
  • By estimating a value - by conducting research and finding out  the prices of similar properties in the same area.

 

This may give an idea of the value of your property. It is particularly difficult to do this where there is a downturn in the market as there will be fewer comparable properties. There is a danger in this approach that, if the value is wrong, it will affect the sale of the property.

 

It is important to widely promote the property for sale for a quick and hassle-free sale. There are a number of ways of marketing your property including advertising in newspapers and using for-sale signboards. A common approach is to advertise using the internet. There are a number of property websites that will market the property on your behalf.

 

Auctions

Auctions are a quick and decisive way of selling. One of the great advantages is that auctions have a targeted audience made up of developers, cash buyers, investors and portfolio landlords who may well have different requirements to prospective homeowners buying at an estate agent. The very issues that make empty properties unattractive to homeowners may be appealing to these buyers.

 

Auctioneers publish a catalogue a few weeks before the auction. This gives details of all the properties that it expects to be available. In practice some properties are removed and occasionally some properties are added before the auction itself. Those interested in bidding can visit the properties in advance and carry out a survey. Auctions are held at centrally located venues often hotels. Anybody is free to attend.

 

Look for the success rates of different auction houses. They vary between 60 and 90 percent. And lastly look for the fees, these vary too, but don’t forget that a good auction house that achieves good sales price will be better value for the client even if its fees are higher. If you decide you would like to sell your property at auction make sure you contact your empty homes officer as some auction houses offer reduced fees to clients who have been referred by the empty homes officer.

 

All Wales Auction

Ty Croes Cwrlwy, Copthorne Way, Valegate Retail Park, Cardiff, CF56E

  • 0800 905905

 

Cooke & Arkwright

7-8 Windsor Place, Cardiff, CF10 3SX

  • 02920 346346

 

Newland Rennie Wilkins

Portland House, Bank Street, Chepstow, Gwent, NP16 5EL

  • 01291 626775

 

Paul Fosh Auctions

87 Church Road, Newport, 
NP19 7EH

  • 01633 254044

 

Brinsons

75 High street, Cowbridge, CF717AF

  • 01446 771777

 

Dawsons

11 Walter Road, Swansea, SA1 5NF

  • 01792 646 060 

 

J Straker Chadwick and Sons

9 Market Street, 

Abergavenny, Gwent, NP7 5SD

  • 01873 852624

 

Seal and Co 

The Crown House, Wyndham Crescent, Cardiff, CF11 9UH

  • 02920 370100

 

Darlows

1st Floor, 32 Victoria Street, Merthyr Tydfil, CF47 8BW

  • 01685 387320

 

Gwilym Richards

The Estate Office, Pant Glas, Llanishen, Chepstow, NP16 6QQ

  • 01600860300 

 

Herbert R. Thomas

59 High Street, Cowbridge, 
CF71 7YL

  • 01446 772911

 

Watts & Morgan

55 High Street, Cowbridge

CF71 7EA

  • 01446 773500 

 

 

 

Share on facebook Like us on Facebook