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

not_loaded

Philippa36 wrote: »

…We're hopeful they'll accept. We are looking at living in this house for a long long time. It suits our needs now and will also suit when our teenage children leave home. We're not buying to make a huge profit - we're buying a new home.

And that of course, it what it’s all about. :T

Some people appear to be looking at their ‘housing investments’ and are afraid of ever making a decision, and others just want to get on with their lives.

jw2003

Grimbal wrote: »

Updated 11-10-2010.JW - on the market 4 weeks, 3 viewers, 3 offers, 1 agreed but they pulled out, last offer made about 10 days ago, we said no and they have sat on it since. They came back with a higher offer which we have accepted so are now off RM with a "under Offer" banner on the sign outside.

We have just had to inform the estate agent that we are unable to proceed

HelenDaveKids

Hello

We went on the market begining of sept (5 wks) with our 4 bed semi. We had been browsing, saw a 3 bed det that we went to view, it had a lot of interest, already having offers on but not from people who could proceed. We really wanted it so because morgage free, we decided to throw caution to the wind and bought it. Get keys next week. On the downside, had only 1 viewer, turns out to be daughter of the people we bought it from in the first place, so I think we can count that as zero Viewers. We are now about to have a huge morgage and feeling a tad nervous. I have had lots of conversations with EA, now have NO UPWARD CHAIN added to our add. My latest thought is try the rental market, unfortunately no way we could borrow more and our new house needs a LOT doing to it. Thinking maybe try for a part exchange, so we could free up some money yet still try the rental market. Would really appreciate some advice?

LAINEY28_2

Hi everyone,

I am new to the thread and after reading all posts it looks a great place to get some advice.

Just put my house on the market Wednesday (13-10-10) and I have had no viewings and I have put it on the market at £3000 under the valuation price hoping for a quick sale. I am being VERY impatient I know but we are planning to rent as of 26th November. We explained the situation to the Estate Agent that we needed £76,000 minimum but she said she'd try to get a bit more and put it on at offers over £74,500 but I really can't decide whether to stick to my first plan and get the estate agent to change it to fixed price of £76,000.

Does anyone have any advice ?? would changing and making it a fixed price help sell? This is the first time I've sold a house...scary stuff!!!

Thanks in advance everyone x

ocalllo

LAINEY28 wrote: »

Hi everyone,

I am new to the thread and after reading all posts it looks a great place to get some advice.

Just put my house on the market Wednesday (13-10-10) and I have had no viewings and I have put it on the market at £3000 under the valuation price hoping for a quick sale. I am being VERY impatient I know but we are planning to rent as of 26th November. We explained the situation to the Estate Agent that we needed £76,000 minimum but she said she'd try to get a bit more and put it on at offers over £74,500 but I really can't decide whether to stick to my first plan and get the estate agent to change it to fixed price of £76,000.

Does anyone have any advice ?? would changing and making it a fixed price help sell? This is the first time I've sold a house...scary stuff!!!

Thanks in advance everyone x

I can't see a fixed price making any difference at all - poeple offer what they offer regardless of what you have it on for.
Do what ever is best for you - remember you can reduce price but rarely put it up!
good luck.

not_loaded

LAINEY28 wrote: »

Hi everyone,
I am new to the thread and after reading all posts it looks a great place to get some advice.
Just put my house on the market Wednesday (13-10-10) and I have had no viewings and I have put it on the market at £3000 under the valuation price hoping for a quick sale. I am being VERY impatient I know but we are planning to rent as of 26th November. We explained the situation to the Estate Agent that we needed £76,000 minimum but she said she'd try to get a bit more and put it on at offers over £74,500 but I really can't decide whether to stick to my first plan and get the estate agent to change it to fixed price of £76,000.
Does anyone have any advice ?? would changing and making it a fixed price help sell? This is the first time I've sold a house...scary stuff!!!
Thanks in advance everyone x

Hi Lainey. I presume you mean 6-10-10 as 13th is tomorrow. I think your question really is have I priced it right? You mention ‘£3000 under the valuation price’ which I presume is an estate agents valuation.

Have a look at nethouseprices for where you live (just google it) and you’ll easily be able to see ‘what sold for what price’. The price an EA comes up with is not always conducive to quick selling.

As regards flags like ‘fixed price’ I wouldn’t do any of that labelling. If your found price on nethouseprices is say, £75,000 I’d only ask (guess) £76,950 so that there’s a bit of haggling room. You may well end up a bit below the £75k though in this sluggish market. Good luck!

tyllwyd

HelenDaveKids wrote: »

Hello

We went on the market begining of sept (5 wks) with our 4 bed semi. We had been browsing, saw a 3 bed det that we went to view, it had a lot of interest, already having offers on but not from people who could proceed. We really wanted it so because morgage free, we decided to throw caution to the wind and bought it. Get keys next week. On the downside, had only 1 viewer, turns out to be daughter of the people we bought it from in the first place, so I think we can count that as zero Viewers. We are now about to have a huge morgage and feeling a tad nervous. I have had lots of conversations with EA, now have NO UPWARD CHAIN added to our add. My latest thought is try the rental market, unfortunately no way we could borrow more and our new house needs a LOT doing to it. Thinking maybe try for a part exchange, so we could free up some money yet still try the rental market. Would really appreciate some advice?

Hi! I'm a bit confused when you say you are thinking of part exchange - do you mean you are thinking of part exchanging your first house for a new build, then renting out the new build (while living in the the house you just bought)? If you can't take on any more as a mortgage, how would you finance the additional money on the part exchange?

My gut instinct is that you would end up spending a lot more if you start trying to make things complicated with part exchanging to yet another house.

What do you think is stopping your original house from selling - is the market in your area slow, is the house presented well, is the price competitive? I think I'd concentrate by going all out to get that house sold - you've cut down your options a bit by rushing to buy the new house.

harz99

tyllwyd wrote: »

Hi! I'm a bit confused when you say you are thinking of part exchange - do you mean you are thinking of part exchanging your first house for a new build, then renting out the new build (while living in the the house you just bought)? If you can't take on any more as a mortgage, how would you finance the additional money on the part exchange?

My gut instinct is that you would end up spending a lot more if you start trying to make things complicated with part exchanging to yet another house.

What do you think is stopping your original house from selling - is the market in your area slow, is the house presented well, is the price competitive? I think I'd concentrate by going all out to get that house sold - you've cut down your options a bit by rushing to buy the new house.

Yes, I pondered on that to; I think what Helen means is to offer to take a part exchange IN on her house, similar to what the new build Co's do.

If she stuck to their 70-80% trade in against purchase price on the house she has for sale, theoretically she could release 20-30% of it's value to renovate with and still have a house to rent out.

Possible, but would need good professional legal advice and great care over the location of the p/ex and it's rentability.

LAINEY28_2

hi there, my apologies on the mistake i did mean the 6th. Oops! Thanks for the advice just to wary that the estate agent is putting their interests in making more money first than my very much need to sell quickly. The estate agent valued at £79k and home report says £78k so hoping we get £76k. Not holding my breath tho last house to sell in my area went for £79k and that was with a loft conversion. this is all new to me and i'm a little down hearted that no one has even viewed?

not_loaded

If you work out the EA commission on £76k and £79k you’ll see there’s not a lot of benefit there for them. (presume they’re on a percentage)

A week is no time at all to be worrying about viewers. Just be sure your price is right (nethouseprices) if you’re looking to sell quickly.