Prop is in Enfield and mv 200-210k (will get EA to value asap)
Her mortgage is 170k she is renting it at the moment
I mentioned doing an assisted sale where I'd manage it through an EA and she seemed keen on the idea.
I'm planning on getting it on the Market for around 195k and doing an option for 190k and anything over split the profit.
Anyone know how I'd approach an EA? Would I need power of attorney or something similar?
The figures do seem a bit tight, but it's not much skin off my back to try this and pocket 5k.
Any thoughts pls
Thanks J

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Can anyone help on this please? i'm seeing vendor tomorrow and just thinking how to approach the estate agents on her behalf??
Does anyone have an EA near Enfield they can recommend? thanks

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Hi Jason -

No need to approach an EA, just market it yourself on Rightmove. Duncan Belton can list the property for you and you can directly field the enquries.

You have an added bonus as you will not have EA fees to pay.

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Hi Ramnik,
any tips on the process of selling without EA, never done this before, would I need to arrange the solicitors for the buyers, same way I've done when buying from distressed sellers? Cheers

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In a nutshell:

- you field the sales enquiries

- pre-qualify any potential buyer (anything to sell, funding in place etc).

- facilitate the viewing (try to do a block viewing as its rented out presently)

- buyer can use their own solicitor as its a traditional sale. Try to get them to use your allocated panel solicitor and you could incentivise them by paying the legal bill (if margins allow).

- no harm in the seller using your solicitor as you can control the sales process

- then once an offer is made, 'project manage' the sale like any normal motivated BMV sale that you have done.

Hope that helps.

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Jason Hi!
I am just closing my first assisted sale, admittedly the numbers were a bit better but I advertised it on Rightmove through Duncan and found a buyer in 2 weeks! Of course you can't guarantee to sell that quickly, no one was more surprised than me.
I did agree to pay solicitors fees for the purchaser but only because the vendor was in such a hurry to sell and there was plenty of cash in the deal. their fees are around £800 but if you had someone dithering despite the discount to MV you could offer to pay costs up to £500 as an incentive.
I also had valuation done by RICS valuer, you have a written report which can't be disputed. I beleive E/A's tend to over value, firstly to get your property to sell, secondly to get themselves a bit more commission if it sells at that price and thirdly it gives them a buffer to allow for folks offering below asking price which makes the purchaser feel they have got a good deal!
Any E/A's reading this I apologise for being cynical but....!
The deal I'm just completing was on the market for only five weeks before the vendor contacted me, it was on the market at £180k but the RICS valuation came in at £165k, I think it would have languished on the market for some time at E/A's price.
Cost of RICS valuation was around £200 and was done within a week.

Another thought for this one would be to lease it from her for 25% below market rent taking an option to buy within five years giving her a steady income, you then do a lease option with tenant buyer.

Sorry to blether on, hope this helps.

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Andy de Gruyther (andy@a2bproperty.co.uk)
You just never can tell what you least expect! (Wise words from a Cumbrian Farmer)
Looking for BMV in Cumbria and the North West