To those selling in these difficult times

Davesnave

It's hard to know what to say, santashelper, except read parts of this thread & you will know you're not alone. (I wouldn't say read it all, because it's a hell of a length!) When you have dropped your price and done all you can to make your house a well-advertised, good value deal, then if buyers aren't forthcoming, there is no point in beating yourself up over it. You still have a house, which is worth as much as all the others like it, and if you have to wait until things improve and buyers come forward again, your house will still be valued relative to all the others, including the one you wish to move to.

More than most, I appreciate how hard it is to hang-on when you want to move on, especially when you've done a lifetime's work, but some things can't be forced. The sad part is, many of us were so busy with work and the hectic lives we led, we never stopped to consider the possibility of a housing crash, or a recession, or how those things might affect our plans for the future. Maybe we were not 'economics-savvy.' However, I take comfort from the possibility that my kids might not need to mortgage themselves to eternity, and from the fact that, no matter where the market goes, I'm not likely to suffer negative equity. Presumably you can do that too.

iskane

well, i thought i'd share my news....got letter through from solicitors this morn to say that contract on sale of my property has been concluded and exchange will happen on 27th nov!! i am so happy although i am still nervous as mortgage company are processing the valuation i had done on new property so have yet to complete and they have still to give details to my solicitor for funds to be released...so next thursday i have sold but have i bought? time will tell but joking aside mortgage company say they will push it through so i am thinking that if there is nothing left in process to be done funds may get released on time....am i too optimistic?

Imp

I thought I'd add my house to the story. 2 bed flat in Cardiff, the top floor of a two storey house. Went on the market 5th September. We had no viewings in the first month, so dropped the price by 10%. We had two viewings in the second month but no offers. We then dropped the price by a further 5%. If is now the cheapest 2 bed flat in that part of Cardiff. We had another viewing, but no offer.

The vendors have all said that there is too much work to do. Two have said they wanted something finished like a new build. The flat is literally twice the size of a new build two bed flat, and if there is one thing you can't do to a flat is add space.

We've told the agents that if there is a deal maker, such as a new kitchen or recarpeting throught out, we would do that. That makes it better than a new build because the new owners get to choose the carpet or kitchen, but the buyers aren't buying it.

Davesnave

Well done iskane. Always be optimistic! If the worst did happen & you had to rent for a while, that would still stack-up in your favour, I think. Property values in Scotland are surely on the slide now too.

santashelper_2

Davesnave wrote: »

It's hard to know what to say, santashelper, except read parts of this thread & you will know you're not alone. (I wouldn't say read it all, because it's a hell of a length!) When you have dropped your price and done all you can to make your house a well-advertised, good value deal, then if buyers aren't forthcoming, there is no point in beating yourself up over it. You still have a house, which is worth as much as all the others like it, and if you have to wait until things improve and buyers come forward again, your house will still be valued relative to all the others, including the one you wish to move to.

More than most, I appreciate how hard it is to hang-on when you want to move on, especially when you've done a lifetime's work, but some things can't be forced. The sad part is, many of us were so busy with work and the hectic lives we led, we never stopped to consider the possibility of a housing crash, or a recession, or how those things might affect our plans for the future. Maybe we were not 'economics-savvy.' However, I take comfort from the possibility that my kids might not need to mortgage themselves to eternity, and from the fact that, no matter where the market goes, I'm not likely to suffer negative equity. Presumably you can do that too.

Yes thats true thanks for your words of support sometimes it is hard when life gets you down and you are trying hard to turn your life around

Jorgan_2

aurora_borealis wrote: »

We've now been on the market for a week and have a viewing next saturday :j

Should I be getting a HIPPs pack?

The HIP needs to be commissioned before the property goes on the market, no marketing should take place if this hasn't been done.

If your HIP has been commissioned, it should take 3-6 weeks to come through to you.

Jorgan_2

Imp wrote: »

I thought I'd add my house to the story. 2 bed flat in Cardiff, the top floor of a two storey house. Went on the market 5th September. We had no viewings in the first month, so dropped the price by 10%. We had two viewings in the second month but no offers. We then dropped the price by a further 5%. If is now the cheapest 2 bed flat in that part of Cardiff. We had another viewing, but no offer.

The vendors have all said that there is too much work to do. Two have said they wanted something finished like a new build. The flat is literally twice the size of a new build two bed flat, and if there is one thing you can't do to a flat is add space.

We've told the agents that if there is a deal maker, such as a new kitchen or recarpeting throught out, we would do that. That makes it better than a new build because the new owners get to choose the carpet or kitchen, but the buyers aren't buying it.

Why not gete a few friends round and ask for honest opinions on the kitchen & carpets. If they feel they need changing, then I would change them sooner rather than later. It is difficult to second guess what tastes a buyer might have, but go for neutral rather than loud.

You have a lot of competition when it it comes to selling a flat/apartment with all the new builds around. It may be worth checking out the new build to see what you are up against, check how the management fee compares with yours. If yours is much cheaper, you can drop that little nugget into a conversation with a viewer. Many buyers don't think to check out management fees when they have been seduced by the show flat. I've seen some auction results for flats/apartments in Cardiff & the prices being realised were not good I'm afraid.

pawpurrs

Well done Iskane, thats good news, you Lucky thing.
AB you should have at least comisioned a hipp before markerting.
Chin up Santashelper, we are all in the same boat or is that sinking ship!

Still nothing here at the moment.

katiso

Hi Folks....just joined to whine. i've got my flat on the market for more than 4 months, changed EA, but not had a single viewing.

What can i do next, i'm dying to move house, get on with life and expand my weee family....

Advice pls...

pawpurrs

Welcome Katsio! If its been on 4 mths without any viewings at all, then I should think it prob needs to come down in price.
If you have a link to your property then there may be other suguestons re presentation etc.

Is much selling in your area? I think to stand a chance you need to attract viewers, so it will need to stand out in the price bracket its in, check out your competition, and see what your prosepective buyers can see in the same price range.

One viewing boooked in for me week Friday :rolleyes: Cash buyers, hope I get someone else booked in before then :rolleyes: