Selling your empty property

Private treaty sale through an estate agent

Estate agents normally charge a minimum fee or a percentage of the total sale price. This method may secure you a slightly higher price for the property but can sometimes mean that your property is on the market for some time.

If for any reason the property needs to be sold quickly, or it is not deemed mortgageable due to dilapidations, mine workings, flood risk etc then it may be worth investigating other methods of sale.

It is advisable to get the opinions of more than one agent to ensure you maximise your opportunity to achieve the most money for your property.

Selling through auction

Auction is a very good way of releasing any capital you have in the property quickly. Most properties tend to sell the day of the auction and a 10% non-refundable deposit is taken that day. Completion generally takes place within 28 days.

If your property is in a particularly poor condition or is not mortgageable then this is a very good way of selling, as houses that need full renovation tend to attract a lot of interest at auction.

If you do not want to do any uplifts or repairs to the property before sale then this can work better for you. Properties are sold as seen so it means you will not have to address any problems you may have with the property before sale.

Auctioneers charge fees in a variety of different way, which can include:

• Charging a percentage fee to sell via auction, often having a minimum basic fee for those expected to sell at the lower end of the market.
• Some charge no fees (or a low fee) to the seller but charge a holding fee/ buyers premium / reservation fee to the purchaser - be wary as some charge a minimum of £6,000 and this may have an impact on the price you achieve at auction.
• Some auctioneers charge an entry fee, which covers the costs of producing literature, advertising and organising the auction itself.
• Some agents have cancellation charges, which are only relevant if you decide to withdraw the property from auction.

It is therefore advisable to check with the auctioneer and to shop around for the best deal.

The auction can be online or at a venue, both being very acceptable ways of selling your property.

Refer to the local 'Property Post' for Auction / Estate Agent contact numbers and review their websites to get an idea of how they market their properties.

Direct sale to builders or investors

If you are unable to return the property to use and therefore want to sell it, private investors interested in purchasing empty properties sometimes approach the council. Please contact Sally Jones sally.jones3@swansea.gov.uk  if you would like the council to provide you with contact details for investors who have expressed an interest in purchasing property in the Swansea area.

Swansea Council purchasing your ex-local authority house

Swansea Council may be interested in purchasing your ex-local authority property. This may save you estate agents fees.

For further information on this, please contact Tim Padfield on tim.padfield@swansea.gov.uk