Will It Ever Sell?

KMK

I am recently retired and in April I put my deceased aunt's small cottage on the market. It is an 18th century weaver's cottage in a desirable village in Lancashire.

Disadvantages Very small (lounge/breakfast kitchen/2 bedrooms/bathroom)
Parking is an issue
Needs some renovation but has CH and D Glazing

Advantages Low price (£110,000)
Quiet setting with long front garden

It has now been on the market since April with a £5000 reduction already. I live 100 miles away and rely on feedback from the EA. I would have thought it would suit a 1st time buyer but I have not had a single offer on it, in spite of many viewings, and as it is empty, I do not want it unsold over the winter.

Is it a case of keeping our nerve or should we reduce again? I want the best price possible as it will boost my pension. I am beginning to think it is one of the few cheap, unsold houses left in England!

Any advice welcome!

Iso

What are other comperable properties selling for in that area? How much are you asking per sq.ft of living space and how much are other period properties in the area selling for? Is it on a busy road? Is it in good condition and well presented for sale? How is the Estate Agent marketing the property? Does the Estate Agent usually have this type of property on his books - or does he only sell more expensive, modern properties?

samspam

Have you thought about putting it into auction?

The longer it remains empty and presumably neglected, the harder it becomes to sell it.

I would sell it at auction, you can always put a reserve on it.

hethmar

I live in Norfolk. Last week we put in an offer on a small 18th century cottage with just one living room a very small kit and tiny bathroom downstairs plus 2 bedrooms, back garden, no front garden. No parking - lucky if you get on road - most likely have to park up the road elsewhere. Needs total renovation and an extension plus mains drainage. It is a desirable small town and there were 8 offers in one week - £200k. We lost out.

I would take the time to go down there one weekend and see just how the agents are presenting it and whether there is any reason for this not being snapped up (not that I dont trust estate agents ...........).

Check on the net how much similar properties are going for - and if necessary rent it out for 6 months so you are getting income in from it now.

Loop

well I for one dont trust estate agents, I have had awful times selling property, they lied to me on numerous occasions and i will never trust one again.

Thats just my opinion but unless you are cracking the whip at them they only do the minimum work usually.

Good Luck


xxxxx

Doozergirl

How many viewings have you had and what has the feedback been?

Is the agent advertising it regularly locally and using one of the bigger websites like rightmove.co.uk. Is it being advertised as needing some improvement?

Can you tell us where it is or even post a link to it and maybe some of us could compare the asking price to others for you?

hethmar

Or even buy it!!!! LOL

KMK

Thank you all for your interest and advice. The house is on the Fish for Homes site. The post code is OL12 7RA and the asking price is £110,000. Hope that helps. Am beginning to think that we need to reduce it as other cottages are in a better condition, although not in as nice a location. I did consider renovating the place myself except I live 100 miles away and could not keep tabs on builders etc from such a distance.

It is beginning to get me down. I shall contact the EA tomorrow to get things moving. Many thanks for your support!

Iso

Having looked at the fishforhomes website and the agent's website (Andrew Kelly) I'd fire the agent and get someone who is interested in selling your cottage. Is this really the best photo that they could get of the property? The description the of cottage is lack lustre. In short it's dreadful. If you were looking for a property and saw these particulars would you be interested?

Take a look at https://www.primelocation.com.

MissMotivation

I've never been a great fan of the Fish4Homes website, I find it amateurish, difficult to use and not as detailed as others. I would find an agent that uses Rightmove as it has wider coverage and it's the site that most buyers use to find property.

What's the interior of the property like, is it worth having some internal photographs taken? The brief description on the web site doesn't mention anything about it needing modernisation either.

Ask your agent how many details they have sent out, what is the feedback from the viewings that have taken place, does the agent think it's overpriced (may be worth getting a couple of other agents to look at the property and give their opinion too).

If they don't seem to be pulling their weight, get rid of them......sometimes a fresh approach with a new agent does the trick, you would be amazed at the amount of property that has been on with an agent for 6months + they then change and the new agent sells it within a couple of weeks.

HTH

Doozergirl

I agree. Sack the agent. That's truly appalling work, does nothing at all to sell it - the opposite in fact. I hate to say, because I feel for you, but I agree that you're overpriced . Your competition is well presented, a little bigger and, most importantly, sold.

http://www.rightmove.co.uk/viewdetails-11969711.rsp?pa_n=4&tr_t=buy

http://www.fish4.co.uk/iad/homes/advert?adId=8644417&sid=80223716CD47333978&pos=23&src=search&tot=107&page=3

I'd call in another agent. And use the fact that it might need some updating to your advantage; people start to go nuts as soon as they see those words. Ask your new agent to advertise it prominently in the paper and hold open viewings; done correctly you will definately start seeing offers. They may not all be to your liking but if you can drum up enough interest, you can go to sealed bids and get a genuine price for it.

I'm sorry to appear so blase when this was your aunt's home