Simply no interest in my house

Graham_Devon

It's simply far too expensive for what it is in that area, compared to what you can get in the same area.

It's as simple as that.

Why would I buy that house, when I need to spend money and time doing it up, when I can buy either a house of the same standard and do that up, but it costs 15k less, or for the same money as your house, buy one that's in a better state of repair?

Look at it from the buyers angle. We are no longer in 2006 where people would look and think "splash of paint, 10k profit".

googler

Save up some money for your trip down there in August, and spend it on extra help from painter, decorator, handyman - whatever it takes to spruce it up.

Fix the cupboard doors in the kitchen, clear the clutter, replace the door that has the corner finish stripped off it. Rent some self-storage space to put your belongings in if you want to keep them.

googler

I've got to ask - did YOU leave it like this when you moved out, or has someone been renting it from you?

Lady_Hamilton

Hi there, first post so here goes nothing!

We sold our house last year, in a rapidly falling market in our area.

How did we do it?

We looked at all the other similar houses in our development and we undercut them all in terms of price. Our Estate Agent was horrified and said to me 'someone will be getting a baragin' and our next door neighbour said 'you are giving it away'. I felt like a prat at the time but I knew the other sellers would end up chasing the market down.

That was 15 months ago and I was right! The other houses have now gone at least 50k below what we got for ours.

We could now buy back our old house mortgage free!

So try to reduce the asking price cause house prices will not be going up for a long time!

Hope this helps!

birduk

It could be the pictures, but your house looks horrible (no offence).

The fact is you are paying to keep the place empty (by paying the mortgage). The market does not care what your mortgage is nor what you need to pay it off, so in that respect you need to redefine your pricing. It isn't about what you have to lose, it is about what that house will sell at.

Get a loan, get it sold at a loss (or a good price for someone to buy whatever way you look at it) and get rid of it. It is currently a liability and it will only get worse. I have no idea what you are doing for house insurance- isn't there something in your terms about it being unoccupied? You can afford the mortgage on an empty property so you can afford the loan you need to get rid of it. It's not rocket science.

Good luck!

Running_Horse

Last time I visited Anfield (albeit 15 years ago) there were a fair few derelict and collapsed houses. No doubt that makes it hard to sell, but do nothing and leave it to rot and yours could join them.

Fire_Fox

Either spend £200 to £500 cleaning and painting the place or drop the price £10K. The back yard is just depressing - you could pressure wash or brush scrub that patio and put some cheap plants/ pots in, tidy and scrub the kitchen and bathroom to within an inch of their lives, paint anything that isn't neutral, ideally including the rendering, reorganise the furniture in the living room so it doesn't look like a large corridor with a table plonked in the middle.

STBJohnny

Thanks for all your replies. You all make good points. The house is falling apart at the moment. I would like to rent, but are there regulations and standards to stick to, to make it worthy to rent to tenants. I do agree with the pictures, they do nothing for the house. In August I will be getting a skip and throwing out all the rubbish that I don't need. I will keep the large furniture and take the rest with me to Edinburgh. The place does need a good clean. I will fix the kitchen cupboard. I am thinking of an agent called New Move Estates. They do seem to market the houses better. What do you think? I can't take a loan out at the moment as I already have one, so I believe it would be unlikely that I would be allowed another one. I do have a horriable feeling taht teh house is over priced, because the area wasn't the best. When we bought in 2005 house prices were still increasing, but we noticed at in 2003 our house was worth only 30K to 40K, then the boom came and then the recession.

I would like to do repair work to it but a the moment don't have the money. I do have 10k to spend, but this is to cover the negative equity if the house sells. My Mortgage is currently at 74K and the house is on the market for 70K. I think the lowerest I could sell the property for would be 65K to cover the mortgage.

princessamy86

The thing is though, it's looking very unlikely that you will achieve anything like £65k even if you did give it a lick of paint. Without being horrible, I can only imagine what a survey might bring up, so even if someone did offer £65k, you have no guarantee that the valuation would come in at that level. Unfortunately, you are probably going to have to take the hit, whichever way you can.

Pee

Is there any chance you will move back to Liverpool in the future?

I have to say some people do like a project, as it's a clean slate in a way and they can have it ust how they want it. Especially if there is an underemployed builder in the picture.

What is good about the house, the reasons you bought it. Focus on those and make sure the estate agents know what is special about it. Is it close to any good schools or shops or the unction for the motorway, etc.

Go down for the weekend, clean up and speak to several agents and see a) what advice they all give you and b) what they seem to be like and make a decision based on that.