Quick Sale

acurling

Hi

Please help?

We put out house on the market in August and had no viewings at all. Phoned EA and they said the price was putting people off, so we decided to reduce the price by £10,000, they are four houses down our road all for sale three of them through the same EA.

Since then we have had 5 viewings, the feedback we have got is that the house is too small or there isn't enough storage. Don't know what to do about this? We did have one offer but is was £25,000 under the asking price didn't think this was fair as we had already reduced the price. We have told the EA that we need a quick sale as the house will be repossessed if we don't sell it.

What do we need to do?

keith969

Drop the price?

You could post a link on Rightmove then people here could give some opinion though.

Welshwoofs

Having people who view say the house is too small suggests to me that the particulars the EA have done aren't that great or perhaps they're using fisheye lens on the photos to make the rooms look a damn sight bigger than they actually are. Of course you can't do anything about the size of your house, but you can check to see how accurate a portrayal of your property the particulars are giving.

If you are in real danger of repossession if you don't sell your house quickly and there are 4 similar houses for sale in the same street then you're probably going to have to bit the bullet and sell low. It is a buyers market and with a lot of similar houses for sale in the same street you don't have that element of uniqueness to up the desirability of your own property.

Don't put yourself in danger of repossession, work out what you can afford to take for your place and crack on

Catblue

When people give feedback saying that a house is too small, what they really mean is: "The house is too small for the money that the vendors are asking for it".

Bermuda_John

maybe you might have to take the 25,000 below your asking price

i buy houses for cash, where is the house?

Your best route is to reduce teh price or take the quick sale route and take a 20 % reduction from teh market value

tek-monkey

You need to sell ASAP
Nobody viewed at old price
People view at new price, but think its too small

Unfortunately that says to me that the place is too expensive for its size, as others have indicated. Decor is irrelevant, pure square footage is king as the internals can be changed. Obviously area is a huge factor, how does your place compare size/price wise to those in your street?

Emmzi

Bermuda_John wrote: »

maybe you might have to take the 25,000 below your asking price

i buy houses for cash, where is the house?

Your best route is to reduce teh price or take the quick sale route and take a 20 % reduction from teh market value

do you have permission to post a link in your signature? this is against forum rules.

ciano125

Catblue wrote: »

When people give feedback saying that a house is too small, what they really mean is: "The house is too small for the money that the vendors are asking for it".

Exactly right.

Your house is not too small, its too small for the asking price, in other words, people can get the same sized house elsewhere for less, or, for the money you are asking, they can get bigger houses elsewhere. If you're going to get repo'd, go back to the people who offered you £25k less and tell them to come up five grand and they've got a deal, they'll snap your hand off.

tek-monkey

£25k off what though? If its a £250k house take it but if its a £100k place don't! Although surely a sale is better than a repo?

baron777red

if you want a quick sale and to avoid repossession the only option is to lower the price

you cant change the size or even the location, potential buyers are only being put off because there are other similar houses for the same money, you need to make yours stand out from the rest, and trust me the best way to do it to make it the cheapest

good luck

Sweetcaz_2

If you are facing repossession work out what you need to repay the mortgage and any other associated expenses (e.g EA and sols) and accept an offer for anything to this value or above.

Good luck!