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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Why is it so hard to sell a 3 bed semi in Leeds?
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Sexyscorp66 wrote: »Well I won't accept less than £125 no matter what.Similar houses have gone for 130 to 140k not a chance. The quick sale companies offered me £125k if I left it on the market for a minth;
is this not your answer then?
you want £125k and have been offered £125k....job done
(although somehow I doubt they would really pay that)0 -
emmatthews wrote: »I'm sorry you lost your Dad. Maybe you need to give it a bit of time before you sell the house?
Judging from the other threads, Dad died at least 18 months ago.0 -
I've been in this situation. Lovely 3 bed semi from the 30s. Large rooms, perfect location, large garden. Similar houses hardly stayed on the market more then a few weeks. Our house however needed similar updating to your dad. We reduced the price accordingly and assumed it would sell as quickly.
We were wrong! People came, liked the house but then wanted the price reduced even further. Trying the explain that the price had already been reduced accordingly got a blank response and buyers disappearing. In the end we decided to do the full work £20k worth of it making look like a showroom. The outcome buyers going mad and sold for £30k above the original price!
What we concluded is that nowadays buyers are much more interested in the easthetics than the structural qualities of their future house.0 -
Judging from the other threads, Dad died at least 18 months ago.
Oh. I hadn't read anything else, just assumed from the tone of the OP's response & the flowers that it was quite a recent bereavement.
We bought a house that had been sitting empty after the lady that lived here passed away. Aside from being dated (but immaculate), it had a musty smell about it that I'm sure all houses would get after sitting empty and closed up for a period of time. We bought it for just shy of 20% below asking price.0 -
emmatthews wrote: »A house is worth what someone is willing to pay for it, not what the Estate Agent tells you it's worth.
I'm sorry you lost your Dad. Maybe you need to give it a bit of time before you sell the house? People on here are trying to give you advise, but you seem too angry to accept it.
Agree with this. I remember when we were trying to sell our house about 6-7 years ago, and the estate agent said 'oh yeah you can easily ask £145K for it.' (Even though several others had recently gone for £120-£126K.)
It sat there for a year and a half before it sold, and had a number of reductions. We dropped it to £142,500, then £139,999, then £137,500, then £133,999, then after 6 months, we dropped it £129,999. Long story short, it eventually sold after 18 months for £119.000!
Just some food for thought for the OP.Proud to have lost over 3 stone (45 pounds,) in the past year! :j Now a size 14!
You're not singing anymore........ You're not singing any-more!
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we were fortunate that the house we bought last year was in a condition we could happily move in without doing anything. That is not to say there is not work to be done (new kitchen, chimney removal, loft conversion, walls moved, decoration, replace shower etc) however there was no option to be able to do these things immediately as the mortgage deposit, stamp duty, fees etc left us will little funds so we have spent the last year living in the property and saving madly to be able to get the work done
I expect anyone looking at the property will be adding up in their head how much work would need to be done, how much it would cost, how long to get the money together and whether they could live in the property in the meantime.
If the property is aiming at first time buyers this may be just too much for them to anticipate...
Who are your target buyers? If first time buyers then they are unlikely to have the cash available to do the work and may be put of by the perceived amount needing done
If family, then they may well need the third bedroom/nursery then it should be shown as such
If property developer, they will not be put off by the work but will be by the price and they will want to make a profit after their outlay
If you do not want to sell for what the current perceived value then have you looked at how much you would need to spend to get it up to the state that would achieve the desired price
If you can get £108k now without spending anything
or you can get £140k if you spend £25k for example, then doing the work may be worthwhile as you will be increasing your potential market (adding in those that have little cash to renovate on top of purchase, those that cannot envisage the changes)
maybe there is a halfway point where you do things like carpets (especially get rid of bathroom carpet!), painting, clear out furniture that will cost less but may also increase your potential market
my great uncles house we took the approach not to do the work and sold for the price that someone was willing to pay...this was less than it was advertised for, but as said, the buyers will define the 'value' to them0 -
I've been in this situation. Lovely 3 bed semi from the 30s. Large rooms, perfect location, large garden. Similar houses hardly stayed on the market more then a few weeks. Our house however needed similar updating to your dad. We reduced the price accordingly and assumed it would sell as quickly.
We were wrong! People came, liked the house but then wanted the price reduced even further. Trying the explain that the price had already been reduced accordingly got a blank response and buyers disappearing. In the end we decided to do the full work £20k worth of it making look like a showroom. The outcome buyers going mad and sold for £30k above the original price!
What we concluded is that nowadays buyers are much more interested in the easthetics than the structural qualities of their future house.
This is not the same really. It is an end of terrace in a not very nice location, with the only parking space in the back garden. It has a lot of negatives that no amount of sorting out the interior will help.0 -
Had a similar situation with my Grandmother's home. Different area though. Was in good decorative order condition wise but it was out of date big time. It was also obvious that it was vacant possession from the photos and it did look like a deceased estate in my opinion.
It originally went on for ~£250k, lowest offer was ~£160k, sold for ~£200k.
I am afraid OP that you may have rejected one of the better offers you are likely to receive.YNWA
Target: Mortgage free by 58.0 -
I always wondered where the BBC etc get perfectly kept period properties from for their TV shows. This looks like a lovely house from the 80s and very well kept. Sadly for the OP it's 2016 now and people will want to rip it all out, unless they're really old and then they'll already have a house.
It's a first time buyer's house really and they're not usually 80+. Best bet is to spend whatever you can afford making it look as modern as possible, then accept a bid based on someone having to spend a load to make it more modern.
Out of interest. How many estate agents did you get valuations from?0
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