receivership sale of neighbours house??

Heffc

The house next door to me is rented and I've just found out today the landlord has gone into receivership and the house is going to be sold.

My husband and I have recently had our house valued with the view to putting it up for sale soon and we're not really worried a receivership sale of next door could impact on our the value of our house.

Will the receiver advertise the house at a knock down price to sell it?? Both our own house and next door are 3 bed semi-ds in south Dublin so in demand. We've been wanting to sell ours for a while but due to negative equity couldn't until prices started rising in the last year.

We're really worried about the impact of this, can anyone offer any advice?

makeorbrake

Heffc wrote: »

..we're not really worried a receivership sale of next door could impact on our the value of our house...We're really worried about the impact of this, can anyone offer any advice?

Unless I'm misunderstanding you, then you ARE concerned about the receivership sale.

I don't think there's any cause for concern. There has been no 'firesale' in Ireland - with receivership properties being drip fed on to the market. They may put it out at a reasonable asking price - but there's no reason why it won't end up going for the same as yours if you get round to putting it on the market soon.

Cathmandooo

The receiver won't want a knock down price, they'll want decent money for it.

Is it going on the Allsop auction?

The sale will be slightly different to yours if the tenant is staying on, but if it's sold vacant it'll give you a great insight into what yours is worth.

gozunda

Buy the house next door and sell both?

Ken.

I'd put my house up for sale at the market rate. If the house next door is put up for sale cheaper and anyone asked I'd say "you can have my house now for this dearer price or you can bid on next door and wait months for your bid to go up the chain of command at some bank with no guarantee they'll accept.

Heffc

apologies makeorbrake - typo there - we ARE really worried....

The tenants moved out three weeks ago. The lady who lived there is waiting on a letter to tell her where to send the keys.

Its <Mod Snip> who are dealing with the sale, I called them today. They wouldn't tell me how soon it was going on the market but he didn't seem to know the tenants had moved out. Is it the bank who would have been dealing with the tenants til now?

In the three weeks since they've moved the garden is overgrown, weeds growing etc - I asked <Mod Snip> if they're likely to clean it up a bit before they put it up for sale but he wouldn't say. We could be very well going in next door to tidy it up ourselves....

I've been told that whatever estate agent we plan on using to sell our own house might be the best to advise us on the best strategy with all this. We haven't chosen one up to now but I guess this will put a fire under us.

The_Morrigan

Heffc, please don't name the companies involved - Thanks

Sunny Dayz

House next door to us was put up on auction last Dec and sold for approx €6k less than what we bought ours for earlier last year. The receiver will not maintain the property in any way. It was 6 months from when the house was sold at auction to when the neighbours moved in.

TBH the recivership sale could impact on the price you could get for your house, depending on what you have valued your house at compared to what the receiver will list at. There are houses for sale in our estate looking for (IMO) high prices and they just won't sell as at least two of the house sales in our estate have come from auctions at lower prices.