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  • FIRST POST
    • gazfocus
    • By gazfocus 11th Jul 17, 3:13 PM
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    gazfocus
    Selling - 1 Viewing in 2 weeks
    • #1
    • 11th Jul 17, 3:13 PM
    Selling - 1 Viewing in 2 weeks 11th Jul 17 at 3:13 PM
    We had a buyer for our house (found privately), but their circumstances changed part way through the process, so we have had to put the house up for sale - this time with an estate agents.

    The house has been on the market now for 2 weeks and so far we've only had 1 viewing. The house is a shared ownership 3 bed semi with a large recent conservatory and the price is in line with other shared ownership properties that have sold recently so just wondered if anyone could give any feedback on why it may not be getting more interest (other than it being shared ownership).

    We do have the option of selling the house as a 100% outright sale, which I have mentioned to the estate agents but so far they've not responded to the suggestion.

    Rightmove Link: http://www.rightmove.co.uk/property-for-sale/property-67265630.html
Page 2
    • csgohan4
    • By csgohan4 12th Jul 17, 1:07 PM
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    csgohan4
    I would not even make an offer with tenants in situ, vacant on exchange is the usual thing and there is no guarantee they will leave when you give them a section 21.


    For SO I avoid with a bargepole, esp if leasehold. Any ground rent?
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Red-Squirrel
    • By Red-Squirrel 12th Jul 17, 1:38 PM
    • 2,031 Posts
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    Red-Squirrel
    I'd actually take it off the market until the tenants are out and you can get in there and get it scrubbed and properly presented.

    You might think its not an issue because you can't tell from a rightmove pic, but when somebody rings the agent to book a viewing it usually becomes obvious and that's when people might be put off. We've all seen 'can't pay we'll take it away' so most people realise now how hard it can be to get tenants out if they don't want to leave.
    • Cheeky_Monkey
    • By Cheeky_Monkey 12th Jul 17, 2:09 PM
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    Cheeky_Monkey
    The EA is fully aware there are tenants living there as they have to contact the tenants to arrange viewings.
    Originally posted by gazfocus
    In which case, the 'honest' thing to do would've been to include that information in the details. Although I realise we're talking about EAs
    • ScorpiondeRooftrouser
    • By ScorpiondeRooftrouser 12th Jul 17, 2:40 PM
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    ScorpiondeRooftrouser
    The EA is fully aware there are tenants living there as they have to contact the tenants to arrange viewings.
    Originally posted by gazfocus
    Have you asked the EA whether they have had calls and when they have said "There are tenants there now" the caller has said "Oh, I won't bother then"? I, like many other people, would never bother viewing a house with tenants in situ.
    • pimento
    • By pimento 12th Jul 17, 2:48 PM
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    pimento
    "leasehold house" would be the deal breaker for me.
    "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
    • Crashy Time
    • By Crashy Time 12th Jul 17, 3:11 PM
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    Crashy Time
    I'd actually take it off the market until the tenants are out and you can get in there and get it scrubbed and properly presented.

    You might think its not an issue because you can't tell from a rightmove pic, but when somebody rings the agent to book a viewing it usually becomes obvious and that's when people might be put off. We've all seen 'can't pay we'll take it away' so most people realise now how hard it can be to get tenants out if they don't want to leave.
    Originally posted by Red-Squirrel

    Some owners and mortgage holders (not saying this one) are so greedy that they want the rental income, and tenants showing people round, right up until they pick up a buyer. It is certainly getting harder to juggle all those plates though, especially as buyers have vanished. Catch 22 really?
    • gazfocus
    • By gazfocus 12th Jul 17, 5:02 PM
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    gazfocus
    Some owners and mortgage holders (not saying this one) are so greedy that they want the rental income, and tenants showing people round, right up until they pick up a buyer. It is certainly getting harder to juggle all those plates though, especially as buyers have vanished. Catch 22 really?
    Originally posted by Crashy Time
    The tenants that are in our house are only there because they were in the process of buying the house and needed to move out of their rental house that they were in. Everything has remained amicable and the tenants are moving into a new long term rental property in a couple of weeks. I certainly wouldn't expect tenants to show my prospective buyers around - that's what the EA's job is
    • AnotherJoe
    • By AnotherJoe 12th Jul 17, 5:15 PM
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    AnotherJoe
    Its leasehold, shared ownership,and has tenants in it?

    Sherlock Holmes not needed here.
    • Cheeky_Monkey
    • By Cheeky_Monkey 12th Jul 17, 6:41 PM
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    Cheeky_Monkey
    Its leasehold, shared ownership,and has tenants in it?

    Sherlock Holmes not needed here.
    Originally posted by AnotherJoe


    In view of those three things, I'm amazed that he's even had one viewing - although I guess they were probably tyre kickers
    • gazfocus
    • By gazfocus 12th Jul 17, 7:12 PM
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    • 480 Thanks
    gazfocus


    In view of those three things, I'm amazed that he's even had one viewing - although I guess they were probably tyre kickers
    Originally posted by Cheeky_Monkey
    Well, smart !!!!, by definition, a shared ownership house is always going to be leasehold. When you staircase to 100% you get the freehold.
    • ScorpiondeRooftrouser
    • By ScorpiondeRooftrouser 12th Jul 17, 7:13 PM
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    • 3,141 Thanks
    ScorpiondeRooftrouser
    The tenants that are in our house are only there because they were in the process of buying the house and needed to move out of their rental house that they were in. Everything has remained amicable and the tenants are moving into a new long term rental property in a couple of weeks.
    Originally posted by gazfocus
    That's fine; I'll believe you. I have no reason not to and nothing to lose.

    Would I take your word for it if I was buying your house? Of course not. Until the tenants are out it's not even worth my time looking.
    • Dreysha
    • By Dreysha 12th Jul 17, 8:02 PM
    • 4 Posts
    • 2 Thanks
    Dreysha
    @gaz
    You tell me what's worse... the fact that I signed up to express my concern of someone potentially illegally subletting? Or the fact that you stalked me enough to recognise I registered to reply to your post?

    Don't be so hostile and you might sell your house....
    • gazfocus
    • By gazfocus 12th Jul 17, 8:09 PM
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    • 480 Thanks
    gazfocus
    You tell me what's worse... the fact that I signed up to express my concern of someone potentially illegally subletting? Or the fact that you stalked me enough to recognise I registered to reply to your post?

    Don't be so hostile and you might sell your house....
    Originally posted by Dreysha
    You clearly don't understand how forums work. The 'total posts' to the left of your post, that said (at the time of my reply) 'Join Date: July 2017' and 'Posts: 1' doesn't take much to work out.

    I'm not being hostile - I am taking people's advice on board but I've not come on here to be accused of 'illegal subletting' and am well within my rights to defend myself.
    • AnotherJoe
    • By AnotherJoe 12th Jul 17, 8:12 PM
    • 7,676 Posts
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    AnotherJoe
    Well, smart !!!!, by definition, a shared ownership house is always going to be leasehold. When you staircase to 100% you get the freehold.
    Originally posted by gazfocus
    Will you ? Is that a guarantee ?
    • Cheeky_Monkey
    • By Cheeky_Monkey 12th Jul 17, 9:01 PM
    • 1,426 Posts
    • 2,817 Thanks
    Cheeky_Monkey
    Well, smart !!!!, by definition, a shared ownership house is always going to be leasehold. When you staircase to 100% you get the freehold.
    Originally posted by gazfocus
    Put it this way - if I was looking to buy a house in your area, I'm smart enough not to even consider viewing yours and, it would seem, so is everyone else
    • Dreysha
    • By Dreysha 12th Jul 17, 10:14 PM
    • 4 Posts
    • 2 Thanks
    Dreysha
    @gaz
    You're absolutely right because I don't need to seek advice from others on a forum on how to sell my house. I'm very proficient in shared ownership purchases and sales and know how to sell one without assistance.

    Good luck, you'll need it if you don't think tactfully and clearly about how it's being marketed...
    • gazfocus
    • By gazfocus 12th Jul 17, 10:24 PM
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    • 480 Thanks
    gazfocus
    Will you ? Is that a guarantee ?
    Originally posted by AnotherJoe
    Yes as it's in the lease.
    • gazfocus
    • By gazfocus 12th Jul 17, 10:26 PM
    • 1,907 Posts
    • 480 Thanks
    gazfocus
    I'm very proficient in shared ownership purchases and sales and know how to sell one without assistance.
    Originally posted by Dreysha
    Of course you are...
    • gazfocus
    • By gazfocus 12th Jul 17, 10:28 PM
    • 1,907 Posts
    • 480 Thanks
    gazfocus
    Put it this way - if I was looking to buy a house in your area, I'm smart enough not to even consider viewing yours and, it would seem, so is everyone else
    Originally posted by Cheeky_Monkey
    Look, I didn't come on here to get abused or cause arguments, I came looking for advice (which is what forums are intended for). Yes I have a shared ownership house and that puts certain people off (which I admitted in my first post) but that doesn't make the house unsaleable so just stop being a douche and don't comment if you can't say someone helpful.
    • 00ec25
    • By 00ec25 12th Jul 17, 10:56 PM
    • 5,577 Posts
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    00ec25
    I agree that the biggest stumbling block is it being shared ownership.
    Originally posted by gazfocus
    after only 2 weeks that is your reason ... end of discussion?

    shared ownership will appeal to a very limited market

    just look at it from the point of view what is it competing with and who will be the potential viewers/buyers of those places:

    you reckon it is "worth" 140k

    anyone who can afford 140k outright is not going to touch 50% SO obviously.
    if you market at 140k 100% there are 2 other properties within 1 mile of yours. I have no idea about the area so of course this may be wrong, but how does your 140k 3 bed semi compare to the other 3 bed semi in your area - the one priced at 15k less than you????
    http://www.rightmove.co.uk/property-for-sale/property-66027164.html

    yes yours is was new build, but the other place offers much, much, greater value for money: room size, plot size, etc


    anyone who is restricted to 72k budget can buy 100% of a 3 bed terraced for around 72k (although the EA they are using do have a bad reputation for how they deal with purchase negotiations)
    http://www.rightmove.co.uk/property-for-sale/property-60728818.html

    and returning to the SO question, yes such buyers are on tight budgets by definition, but you want 72k for 3 bed semi. These people want 75K for 4 bed 50% SO. I'd raid the wife and MIL's purses to raise merely an "insignificant" (?) extra 5k for the sake of a 4th bedroom
    http://www.rightmove.co.uk/property-for-sale/property-60092917.html

    summary
    • it will take time to sell
    • its SO,
    • it will get viewers once the current crop of competitors are off the market
    Last edited by 00ec25; 12-07-2017 at 11:33 PM.
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