Why are there so many executors sales?
Q What is happening with executors’ sales? Two houses in my area are for sale and both have “executors sale” emblazoned on the “for sale” sign.
The second sign was only amended to include reference to executors recently – the house has been on the market for some months. Is this a trend?
And how does it fit in with the idea of private treaty sales being private? Isn’t that a very personal detail?
ANot so much a trend, more yet another attempt by agents in this very difficult market to drum up business and get buyers in the door. A house for sale by an executor is generally one that has to be sold and quickly, simply because most executors want to get the estate wrapped up as speedily as possible and are prepared to be realistic about price.
Though in fairness, most sellers who have watched their house languish on the market for months and months are as open to negotiate and as prepared as any executor to take any fair and reasonable offer should one come in the door. And if they are not, they should be.
Those signs also might reflect the fact, reported by agents, that most of the houses that went up for sale certainly in the last six months of 2008 were on the market not because the owners quite fancied moving – rather that the properties had to be sold.
As for the privacy issue, it doesn’t really apply. The price achieved is part of a private contract and doesn’t have to be made public but a reason why the property is on the market is rarely a secret.
What’s a fair price for a BER cert?
Q I am a landlord and will have to get a BER certificate for one of my (two) rental properties next month as the current tenancy is due to end at the end of this month. Is there a standard price?
Anecdotally, I heard of another landlord who paid €250 each for three properties.
I contacted an assessor through an advertisement who quoted €375 and I am awaiting my letting agent to get back to me with another quote. With such varying quotes, how I am I to judge?
AYou are to judge by the cheapest quote – once you go with a qualified assessor (find one on the Sustainable Energy Ireland website, www.sei.ie), all certificates are the same so it doesn't make sense to pay more than you have to.
They are valid for 10 years from the date of issue, unless there is a material change in the building in the meantime which could affect its energy performance.
Most assessors will base their quotes on the size of your property, location, i.e. how far he or she has to travel to it, and other relevant expenses. Add VAT on to that. Get a few quotes. Your letting agent may have struck a deal with an assessor whereby you might be able to get in on some group rate. It’s early days yet for the BER scheme but with the sales market down, the main activity will be in the rental sector so expect assessors who are keen to get their assessment careers off the ground to be competitive.
Should I take my house off the market?
Q Our house has been on the market for a year and a half without attracting a serious buyer. We have had it with two different agents, but between them they have only managed to produce a handful of viewers. We are bored with having to keep it in tip-top condition all the time and disheartened by the lack of response. Should we simply take it off the market, and if so, until when?
AFrom your address I gather that you live in a quiet rural location and so there is possibly a very limited pool of buyers looking to trade up in the area.
Also, while it seems that you would like to sell up, it is not absolutely necessary for you to move.
Some estate agents are saying that 2009 will be a year when property supply contracts, because people will not put their homes on the market unless they absolutely have to. Eventually this lack of supply will feed back into the market, and when economic conditions improve, buyers will be out there again. If you can hold off for a year, do so.
- Your questions
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Unfortunately it is not possible to respond to all questions. The above is a representative sample of queries received. This column is a readers’ service and is not intended to replace professional advice. No individual correspondence will be entered into.