help me please I,m so thick

mlz1413

Don't get upset! house selling is stressful enough without all the emotion attached to this one.

Tell your EA that you are not prepared to drop and then go and see 2 other agents and get them to value it.

Go and get a cuppa and then have a few nights sleep, don't make any decisions whilst you are upset. You do not have to give your parents house away just because of one EA.

saracox

mlz1413 house been on the market for twelve weeks only four weeks left with them. the offer was made after twelve weeks, they were the only viewers they loved the house.

brixham

Should there not be something in the HIP about this ?

typeractive

mlz1413 wrote: »

Don't get upset! house selling is stressful enough without all the emotion attached to this one.

Tell your EA that you are not prepared to drop and then go and see 2 other agents and get them to value it.

Go and get a cuppa and then have a few nights sleep, don't make any decisions whilst you are upset. You do not have to give your parents house away just because of one EA.

I second this. You will not have to give it away - don't let it get to you. There are ways around everything (not saying I know the exact answer at the moment) but with a bit of research and investigation I am sure you will be ok. What are surrounding houses like? Are they similar? Have they been selling?

I think approaching other EA's also will help. Don't believe everything until you have a few opinions. Whilst I can appreciate the property holds a sentimental value to yourself, in the worst case scenario - dropping the price by 10k if you must sell it - is not giving the property away.

Seek some more opinions and advice - soak it up over a cup of tea as suggested (beer if you prefer - but not too many! :rotfl:) and then plan your route of action. Keep feeding back on here as there are some really knowledgeable peeps here and they are always willing to give advice and support.

Good luck!

pinkshoes

I'm guessing it was probably build just after the 2nd world war when they went to great lengths to build lots of houses, most of which are now described as "ex local"...

It was discovered about 30 years ago that they weren't particularly well built (rubbish steel was used) which meant they could potentially crack. I think you even have to use a particular type of builder or engineer to repair them.

This is why mortgage companies are reluctant to lend money for them (even 10 years ago!! moreso nowadays!!), so you'd need either a cash buyer, or someone with a huge deposit.

ChrisCobra

Dont take any crap , concrete is awesome

LandyAndy

Non standard construction houses were, AFAIK, built in mainly large estates.

Your EA must have known that if they are local.

It's pretty common knowledge that mortgage companies won't touch them.

The EA should have told the people who made an offer that and should have told you that the offer was likely to fail at the finance stage.

LandyAndy

ChrisCobra wrote: »

Dont take any crap , concrete is awesome

But unmortgageable.:o

themanbearpig

Its a pretty common problem, and keeping your price high or finding another estate agent, or what ever other rubbish advice has been given on here won't help.

Lenders won't lend a penny to a purchaser on a pre-fabricated house. Now either you spend lots of money changing the structure of the property, or you now reduce the price enough so a cash buyer will buy it. A cash buyer isn't going to pay 90k for a pre fab house because they aren't worth as much, simple really.

My advice is to get it shifted with the next 2 months, because the market will die again when it starts getting colder (historically), and prices will start falling again.

Anew

My input is quite uninformed and I'm sure folk around here can let you know if its wise or not!

But when I was just starting out at looking at places I attended a few auctions to see if there were bargains to be had.

This seemed a popular place for such properties, I saw three in a single auction, all of which sold for well above the guide to cash buyers. All three were very sought after and had many many people bidding on them.

Like I said, its just a small input from what I saw, I'm sure there are pro's and con's to doing it this way - but it might give you another option to reach a larger audience?

And I'm sure the MSE community can let you know if its easy/hard/recommended etc.