Can't sell house. What to do now?

Mrs_Pepperpot_2

Hi,

Any advice greatfully received.

We are moving to Devon :T but can't sell our house in the west midlands.

We have to move in April because I start a new job but am dropping from 40k a year to just over 17k due to wanting to look after my son.

Our house is worth 250000 and we owe 134000. Our mortgage repayments are about 750pcm.

Obviously we won't be able to afford to pay mortgage and rent somewhere in devon so I'm a bit stuck.

What would be a good plan? Take off market and rent out? Leave on market and rent out? Drop price significantly (we already have a bit)? Re-mortgage to cover costs?

Any ideas?

Conrad

Drop price. If its 'worth' £250 then it will sell now for that.

A house near me had 5 people all bidding on it, obviously it was worth the price it attained.

Sellers often fail to recognise it is local buyers that determine price, period.

Often subtle reasons can be attributed to a house not selling, although sellers tend not to be aware of the real reasons.

In the end there is a price point for your home as it stands now, nothing on this earth will alter that, simply reduce the price until sells, that figure is what your house is 'worth'.

Mrs_Pepperpot_2

Thanks - we had kind of come to that conclusion ourselves but had already dropped 10k of what the agents wanted to keep it under the 250 tax increase. We have since dropped another 5k and it is now the lowest priced by some way (30k) on our road!

The only thing that worries us about this is that we have probably had over 30 people view and no offers so we're not sure how dropping the price further will help! Does that seem strange to anyone else? It's a lovely house with new carpets and lots of old features. Small garden and bathroom - could it be a simple as these two things putting people off or is there something else going on?

KTF

Speak to the agent to find out why it isnt selling or move to another one.

Rick62

You should be getting feedback after every viewing, what they liked, didn't like etc etc. Obviously your agent hasn't been giving this.

Mrs_Pepperpot_2

would we be better off to auction house or would we lose a lot of money? At least it would mean quick sale....

cupid_s

Maybe there are small things wrong with it that you don't notice. Ask friends or the estate agent if they think there's any small changes you could make to improve the place