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mike g

Newbie - how to sell off-plan before completion

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Hello all, 

Would anyone be able to recommend a marketplace or advice for how to sell an off-plan property before completion?

My circumstances have changed somewhat given the current pandemic and I haven't been able to find topics on the forum relating to this nor from Google.

Any advice greatly appreciated. Thank you. 

Best, 

Michael

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7 hours ago, mike g said:

Hello all, 

Would anyone be able to recommend a marketplace or advice for how to sell an off-plan property before completion?

My circumstances have changed somewhat given the current pandemic and I haven't been able to find topics on the forum relating to this nor from Google.

Any advice greatly appreciated. Thank you. 

Best, 

Michael

Hi Michael,

Your best bet would be to speak to the Estate agent you bought the off-plan property through? They should be able to provide some options?

I have seen an option once where the Estate agent re-advertises the same plot and in some cases, if there is new buyer, the money would go back to the original buyer. Of course, this completely depends on the demand/popularity on the area and the units etc.

What and where is the off-plan property? Development details etc?

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7 minutes ago, onkar said:

Hi Michael,

Your best bet would be to speak to the Estate agent you bought the off-plan property through? They should be able to provide some options?

I have seen an option once where the Estate agent re-advertises the same plot and in some cases, if there is new buyer, the money would go back to the original buyer.

What and where is the off-plan property? Development details etc?

Hi Onkar, 

Thanks for your advice. I have a couple properties bought through Property Hub Invest. They have since offered to connect me with new buyers but they'd look to pass on the deal "as is" meaning that while they'd likely collect another £5k consultancy/sourcing fee from the new buyer(s) (and fair play to them), I'd lose mine, plus all the solicitor fees. They're good investments. It would pain me to make a loss. If there's no other option I'd rather opt to complete and look to sell immediately after. 

So sounds like the best course of action in this case may be to advertise these through an Estate agent online as one might any other property. Strange, for some reason I thought there would be a dedicated marketplace for this sort of thing. 

Thanks again.

Best, 

Michael

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