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Reduce the price as low as possible or leave house empty?
Pink_Alien
Posts: 2 Newbie
Hi all.
We are going to be moving from Northern Ireland to Manchester at the end of october/early november.
We have our house on the market, if I am honest there isnt much interest in it, on the market since november 2010, two price reductions, changed estate agent a few months ago, had two viewings and one booked in for today at 2pm.
We have been talking last week and cant decide what to do, time is running out in terms of our move.
If you were in our situation would you
A: Reduce the price to as low as we could possibly accept to try and get a quick sale, (for instance reduce the price from 115k to 98k) make a clean break and move to start our new life,
or
B: Leave the house empty until it sells, reducing the price along the way.
Im just looking for your opinions on what you would do, thanks.
We are going to be moving from Northern Ireland to Manchester at the end of october/early november.
We have our house on the market, if I am honest there isnt much interest in it, on the market since november 2010, two price reductions, changed estate agent a few months ago, had two viewings and one booked in for today at 2pm.
We have been talking last week and cant decide what to do, time is running out in terms of our move.
If you were in our situation would you
A: Reduce the price to as low as we could possibly accept to try and get a quick sale, (for instance reduce the price from 115k to 98k) make a clean break and move to start our new life,
or
B: Leave the house empty until it sells, reducing the price along the way.
Im just looking for your opinions on what you would do, thanks.
0
Comments
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If it were me, I'd reduce the price as low as I could go. I would hate to feel like I still had to think about the house once I'd moved away and so would try for that clean break as much as possible.0
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I agree, work out your rock bottom price (take into account people will still haggle) and off load the place ASAP.calliopeviolet wrote: »If it were me, I'd reduce the price as low as I could go. I would hate to feel like I still had to think about the house once I'd moved away and so would try for that clean break as much as possible.0 -
Better to get rid of the house at whatever price you can get for it than to be worrying about vandals and/or Lithuanian squatters moving in.
Price as low as possible or put it to auction.0 -
Get rid of it. Look at houses in the area and put it on under 5k than the lowest...Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
If it's empty it still costs you money each month.
And you'll need specialist insurance too if it's unoccupied for more than 30 (45? 50?) days.0 -
Insurance for an empty house needs exploring.
You could auction it - no reserve and it'll make the money (mostly) cash buyers think it's worth... you could lower price and get EA to work their magic and get you a sale.0 -
Sadly reducing the price to an amount you can cope with does not gaurantee selling the house so it may be a combination of the two you have to do
Have you considered letting if there is a market where you are?
Is there something you can do to make your house stand out Have you tried an open house or something like that?0 -
Why not retain it as an investment to either sell at a higher price in the future or as a near inflation proof income when you retire?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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The op could do this but must also be aware of the real possibility that prices will not be higher in the future. Since recorded history, prices have gone up BUT that is no reason to think they will continue to do so.Turnbull2000 wrote: »Why not retain it as an investment to either sell at a higher price in the future
They should take the hit and sell for 500K. While it remains unsold and unoccupied you still have to fork out for council tax, insurance and loss of interest from money being tied up and not earning a return as an investment or bank savings.0 -
MSE members: remember that the house is in N. Ireland, not England & Wales. BTL rules are different there, as is conveyancing.0
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