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Minimum time for leaving a house on the market
RHemmings
Posts: 4,894 Forumite
Is it common for people to put a house on the market, and leave it on for a bit if they get some early offers just to see who else turns up interested in the property? There's a property in my watch area that is on for a market-busting low price, and I assumed that it would be gone in a week. But it hasn't after two weeks. How long would it have to be on the market before something starts looking "not quite right"?
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Don't know what part of the country you are in but 2 weeks is not a long time for a property to be on the market. Maybe there are some problems with the property, that would explain the low price. Can't realy comment any further without details.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
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MissMotivation wrote:Don't know what part of the country you are in but 2 weeks is not a long time for a property to be on the market. Maybe there are some problems with the property, that would explain the low price. Can't realy comment any further without details.
I have been inside the property when it was up for auction. And it looked like there could be some problems. But the current price is low enough to account for problems providing that they are not too major.
If it's still available after a month, I'll presume that there's something seriously wrong with it. But you'd still expect someone to offer and then waste money on a survey.
I did see one property that also seemed very cheap for the area. It lasted one week before it went under offer, and it hasn't (yet?) returned.0 -
What are the circumstances of the sale, is it repossesed/deceased estate etc, if it is this maybe why it's still available as they may wait to see what offers come in over a period of weeks before accepting one?My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0
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MissMotivation wrote:What are the circumstances of the sale, is it repossesed/deceased estate etc, if it is this maybe why it's still available as they may wait to see what offers come in over a period of weeks before accepting one?
It was bought at auction for a very low sum (compared to other properties that sold recently in the same area) about a month ago. It's now on for £25,000 more than it sold for at auction, but this is still a lot less than the other properties in the same area. On rightmove, it's £14,000 cheaper than the next cheaper property with the same number of bedrooms, and £23,000 cheaper than the next property of the same type (semi) with the same number of bedrooms in that village. I guessed that the low price was for a quick "flip", and expected it to be gone in a week.0 -
My guess is that it's a flip. After all £25k is nice, little profit. How much would a survey cost? £500?
The pay off? A saving of up to £23k. Pretty good odds, really."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0
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