The owners of a luxury home with a guide price of 5 million pounds located in Essex UK have decided to sell the house themselves online. The move would potentially save the owners almost £100,000 in UK estate agents fees. The unique for sale by owner property offers some very outstanding features and is being billed as the largest home recently built in the South East of England. Homesgofast.com which is promoting the home report on a growing trend in owners listing their millionaire homes on the internet.
The nine bedroom luxury Essex property qualifies for entry in the 2007 NHBC House builders Award and has been nominated in its category. No other new build property in the South East of England it seems can match the size, quality and design of this property which is a one off home. The home even has its own cinema room and swimming pool complex as well as extensive grounds.
Nicholas Marr’ selling a luxury home is now a lot harder and the owners have a reduced market of buyers locally. It makes sense for them to want national and international exposure gained by advertising on the internet. We have seen a 50% increase on last years figures with homes worth a million pounds being promoted with us. One of our private sellers has said that he is using our services to get his estate agent to work harder as they now risked losing their commission with a private sale. However I think the main reason for the increase is not to save money it is the pure desire to sell their homes’
Recent changes in UK mortgage rates, the uncertainty brought on by the Northern Rock scare and the introduction of Home Information Packs appears to have buyers in the UK in a panic. UK home sellers are now reducing their prices in order to sell their properties
Halifax’s chief economist, “I think prices will continue to slow, but we will see that slowdown reaching the South.”
The Telegraph reports that some home owner’s need to take thousands of their asking prices in order for them to sell their homes. One estate agent gave a typical house reduction example indicating that a home on sale for £290,000 would now sell at £250,000.
Sellers are now faced with losing thousands that they thought they had with recent valuations. Some have probably made offers on properties assuming the old valuations were going to be achieved.
Essex Property For Sale
