What is wrong with this house?

maried_2

Hello I am a FTB in Scotland and have found a house I am interested in but am worried is over-priced. Similar house on same street went for 83 in 2010, which seems very low as its an ok area, but the house i like has been on for 2 years at around 115, had a couple of notes of interest but obviously not sold. To me it seems an ok price but my concern is will i struggle to sell it 5 or 6 years from now? This isn't my forever house. Also because it was put on market more than 2 years ago the seller doesn't have a home report, so I don't even have that as a guide price. Should i be concerned that it hasn't sold for so long?
Thanks. sorry not allowed to post a link to house because I am a new user.

bluebeary

where in scotland is the house ?

Seanymph

if one nearbly went for 83 - and this one hasn't sold, then I would say that this one is overpriced. That's just logic though.

hcb42

tell us post code and description - or a link with a break..if you want it analysed :P

maried_2

Its on gspc website the postcode is pa4 and its the 3 bed on at offers in the region of 119. Hope that's allowed and not breaking any rules!
Thanks for the replies so far. Its in Renfrew Bluebeary.

caledonian_princess

If there's only been one sale nearby you can't really use that as a guide as you don't know the circumstances of the sale. I bought my partner out of our mortgage free property for 40% of its valuation and that's what is on the land registry, it's very misleading as a guide to local prices.

Seanymph

http://www.gspc.co.uk/property/?property_type=&number_of_bedrooms=3&min_price=115%2C000&max_price=115%2C000&where_specifier=list&location=renfrew+bluebeary&group_1=30&map_points=&x=53&y=11&page=1

that's the search I get - is it one of those?

mcc100

http://www.gspc.co.uk/property/149428/

Is that the correct link maried?

hcb42

is the one at £83K three bed as well?

If you are unsure, have an honest chat and say you are thinking of paying (say) £110K and see what the reaction is.

maried_2

Yes that is true cp, i had thought of that or that maybe it was a wreck inside or something. What about the 2 year on the market thing? Should that be ringing alarm bells for me? The house would suit us fine right now, my main concern i suppose is that when i go to sell it we will end up with a massive loss, because we overpaid in the first place.There isn't a lot out there right now within our budget so think we are getting a bit desperate and struggling to see houses objectively.

maried_2

mcc100 thats it! thank you.