To those selling in these difficult times Part Deux. AKA sellers support network!

Glaswegian

NEH wrote: »

We're in a similar position, been on the market since February and we have just talked to the Solictors who have two of us with the same flat on their books. The other people dropped to fixed price and we have discussed doing the same but apparently in the few weeks since they have done it they haven't had any more interest than ours....

So whilst we want shot of the place we're coming round to the idea of renting it out as we moved out of our flat 10 months ago and we can't keep paying 2 lots of bills...

Could you rent yours out?

Thanks. Yes we could rent ours out although we could really do with the capital if we were looking to buy another place. I can't see the market getting any better in this area and prices will prob have to come down a fair whack in order to create some sort of market. There are more and more properties coming on the market here and all at 2007 prices – it would be good if all of these properties started getting valued realistically so everyone knew where they stood (even if it means sucking up a 20/30K loss!).

If you rent out are you not concerned that your property will reduce down in the region of 40% over the next few years?

Ho hum.

TBeckett100

well techically we are on day 1 with our agent. decided to go with an agent based in the nearest big town hoping to attract some people looking. so far they have listed the house on the net yet a glitch on their site means the property isnt coming up in the results and i arrived home to find their board tied to the other agents board which is due to be removed, so i have had to erect my own board (the shame of it).

i will keep a diary on here. the new agent said things were busy. i like their updates though, an automated email each week tells me how many times the property has been texted out to people. lets home one bites, either that or an extension is looming if we have to stay put.

NEH

Glaswegian wrote: »

Thanks. Yes we could rent ours out although we could really do with the capital if we were looking to buy another place. I can't see the market getting any better in this area and prices will prob have to come down a fair whack in order to create some sort of market. There are more and more properties coming on the market here and all at 2007 prices – it would be good if all of these properties started getting valued realistically so everyone knew where they stood (even if it means sucking up a 20/30K loss!).

If you rent out are you not concerned that your property will reduce down in the region of 40% over the next few years?

Ho hum.

The problem is i feel it is the lack of FTB which is holding up both us people with flats and those further down the chain...

We have the added problem that there are 4 of us in flats selling at the same time so there is a fair bit of competition....

Prices may go down but ultimately being realistic is isn't selling...We need to cover the costs so renting is a practical solution. We're hoping that Aberdeen where we are selling won't fall as much as other places will given the micro climate there...

Hubby bought the flat 15 odd years ago so they would have to fall a fair bit...:rotfl:

vet8

lauhen wrote: »

They said that we priced the house to high, but they valued it not us.

Exactly!

I get very angry with some of the smug posters on this board, saying that they will not pay over the odds far a house when all they are doing is paying off the vendor's debt as they were stupid to buy at a high price and they are now trying to sell at a similar price. What these people do not seem to realise is that it is the EA who sets the price in most cases. The normal seller does not know the exact value of their house, they might have a rough idea by looking at sold prices in the area, but unless you live in an identical house to another which has sold it is very hard to be absolutely accurate. So when the EA says it is worth XX you tend to follow his advice as he is the "professional" Ha Ha HA.

I know when we sold my fathers house, many years ago the EA priced it at a price much higher than my brother and I thought it was worth, but it was in London and neither of us lived there, so we did not know the guide price. We said, several times, "Are you sure? We want to sell this quickly, we would rather start at a lower price and get a quick sale," but he assured us that was the right price. Of course, it was massively overpriced and took ages to sell after we had dropped the price about 3 times.

It just annoys me, this whole house selling thing. It needs tightening up so the EA says this house is really worth X and that is what the buyer pays.

Squish_21

EA told me today our asking price is still correct.

She suggested some new pics to refresh the advert on rightmove.

We are thinking of changing EA as our EA doesnt advertise in the local paper so we feel we are missing a trick.

harz99

Squish_21 wrote: »

EA told me today our asking price is still correct.

She suggested some new pics to refresh the advert on rightmove.

We are thinking of changing EA as our EA doesnt advertise in the local paper so we feel we are missing a trick.

Many EAs don't advertise in the local press nowadays; in fact a lot don't use Rightmove or other similar sites either.

As long as the EA maintains a user friendly and up to date website of its own, coupled with good quality details/photos on their site, and a good "shop" display, the local press is probably superflous - unless you are in an area which produces a dedicated free property newspaper in which case you could instruct your agent to advertise in it (but you may well be charged the cost).

From my own observations of RM, it often seems to be largely the properties that are less desirable or difficult to sell for whatever reason, that get exposure.

TOBRUK

House selling/buying is a very strange thing. I have had my house on the market since end of November and have had only 2 viewings in all that time! Had 3 different estate agents to value etc and all gave the same price and were all very confident on how much it would sell for!

I need to move 100 miles away and have been looking EVERY DAY on the websites of rightmove, nestoria, find a property, and other as well as estate agents websites for the area I am presently living AND the area I need to move to. I have been looking at properties and comparing them as properties and the different prices like for like - many I just can't understand how they are the same price (same area) when there is such a big difference in standard, and space etc.

The situation is the same in both areas with the same propeties still on the market during this time and some were on the market before I placed mine on!

Everyone has different reasons for selling and buying. My reason is on health grounds - I live alone in a house and because of my health I need to move to a bungalow and need to move to be near family for my care needs. My family (back home 100 miles away) and I have been looking for a suitable property to buy if I sell - within my price range. We found a bungalow within 4 miles from family which would be suitable and has been on sale for a year or so - a new build. Friday it sold!! I was gutted. It's the only property I have been to see.

Even if I sold my house now it's difficult to find a suitable property to move to. Back home is a rural area and not many properties come on the market, especially bungalows!

I read some posts where people have put in an offer on a property before they sell their own - I didn't think you could do this. I'm sorry but I don't understand and don't know how things actually work with regards putting in an offer on a property when you are not really in a position to buy at that time.

Can anyone tell me if you can show interest or place an offer on a property before selling or have an offer on your own property?

casperlarue

Putting in an offer when you don't have the funds to proceed is frankly pointless....we had a viewer who really liked our house....it was lovely....just what she was looking for..... but it turned out she hadn't even got her property up for sale! So that was 2 hours of my time tidying up for no reason.....my house is up for sale because I want to sell it not because I want every tom !!!!!! and harry wandering round having a nosey.

You could register an interest in a property you liked but I would be very suprised if the seller just stopped marketing it and waited for you to sell your property first.

Blodwen

Hello and welcome to all the new peeps, this is a great place for advice, support or just to rant!

I got feedback last night from Friday's viewing - apparently the guy think the house is too small for his requirements. Fair enough, I said, that's a perfectly valid reason for discounting a house. Then the EA went on to say that he wanted a 3 bed (mine is 2) and he was thinking maybe the front lounge could be made into a bedroom (I suspect to rent to students) but it is too small for that. I am slightly annoyed because it was a fairly short notice viewing and I spent hours that I didn't really have to spare cleaning and tidying a house which the bloke knew didn't have enough bedrooms for his needs, and also knew the dimensions and layout of the lounge - feel like it was a complete waste of time :mad: Anwyay, rant over!

vet8 wrote: »

Exactly!

I get very angry with some of the smug posters on this board, saying that they will not pay over the odds far a house when all they are doing is paying off the vendor's debt as they were stupid to buy at a high price and they are now trying to sell at a similar price. What these people do not seem to realise is that it is the EA who sets the price in most cases. The normal seller does not know the exact value of their house, they might have a rough idea by looking at sold prices in the area, but unless you live in an identical house to another which has sold it is very hard to be absolutely accurate. So when the EA says it is worth XX you tend to follow his advice as he is the "professional" Ha Ha HA.

Haha, can definitely relate to this. When I first went on the market my EA rang around their 'list of interested parties' (which I'm not convinced exists) and apparently the concensus was it's overpriced. He seemed to be hinting that we should drop the price, and this was before we'd been on the market 3 days! I told him that he (or rather his boss) had valued it at that price- what do they expect us to do, ignore their valuation?! I suppose it appears they're just proving the point that (some) EAs overvalue to get the instruction, although I do think that mine is priced fairly reasonably (I would say that, LOL!)

TOBRUK

There are some properties which are almost identical in areas but there could be differences such as: if an identical house is a few doors down it could be that one of them has certain problems like being on side of a road or on a corner so there is more traffic.

Looking at prices in same area - could be that even in some areas a certain small area or estate/developement can be more desirable. Estate Agents can't just say that properties in same area (area of a couple of miles even) go at such a such so that is the price it should be?! Half the time they don't know what the area is like, whether it's a quiet cul-de-sac etc.

It also depends on buyers needs and wants. When I look at a property and quite like it I look at every room and work out (estimate) how much I would need to spend on that room or layout to make it work for me. After looking at the whole property you have an idea if it works for you and what you will have to spend, and if your budget is enough to pay the asking price or if you could realistically be in a position to make an offer.