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Back to square 1 - Finding another buyer
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oldskoo1
Posts: 619 Forumite
Our house has been on the market for 4 months.
In that time we have had
2 accepted offers
1 part ex offer from a private vendor who hasn't sold which we declined
At least 5 second viewings
1 other offer which fell through within a day because their buyer pulled out
The 2 accepted offers... The first we rejected after about 3 weeks because we couldn't find a house and the offer was leaving us 15k short of the houses we wanted (silly move in hindsight). We did offer on a house that wasn't accepted. 2nd offer, same deal, couldn't find a house and the people pulled out on us because we were taking too long.
We are finding this market incredibly frustrating. It seems totally a buyers market. We have had perhaps 20+ viewings in 4 months. Majority of viewings from people who haven't sold.
It's frustrating because we have no negative feedback. In fact a lot of the time the feedback is "it's a lovely house" / "like a show home"... But the reasons generally revolve around the garden being slightly too small. Someone even said it's just a bit too overlooked from an elevated position. As our house isn't an end plot and/or is slightly overlooked by 1 house it's loosing the location game.
Should we just hang tight. Its so frustrating we are getting such positive feedback but people aren't biting.
In that time we have had
2 accepted offers
1 part ex offer from a private vendor who hasn't sold which we declined
At least 5 second viewings
1 other offer which fell through within a day because their buyer pulled out
The 2 accepted offers... The first we rejected after about 3 weeks because we couldn't find a house and the offer was leaving us 15k short of the houses we wanted (silly move in hindsight). We did offer on a house that wasn't accepted. 2nd offer, same deal, couldn't find a house and the people pulled out on us because we were taking too long.
We are finding this market incredibly frustrating. It seems totally a buyers market. We have had perhaps 20+ viewings in 4 months. Majority of viewings from people who haven't sold.
It's frustrating because we have no negative feedback. In fact a lot of the time the feedback is "it's a lovely house" / "like a show home"... But the reasons generally revolve around the garden being slightly too small. Someone even said it's just a bit too overlooked from an elevated position. As our house isn't an end plot and/or is slightly overlooked by 1 house it's loosing the location game.
Should we just hang tight. Its so frustrating we are getting such positive feedback but people aren't biting.
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Comments
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i'm thinking the fact you have lots of viewers and several decent offers means that eventually you will find 'the right one'. If you are still getting viewers 4 months in that is also a positive. If you are getting desperate to move maybe it is time to lower the price?
Personally I think it is just a matter of giving it time.
We are in a similar situation - 16 viewers in < 1 month (4 this week!), just the one offer of ~ 5% below asking. If the viewings had tailed off I would consider lowering the price soon, but i think we will stick with it for now0 -
i'm thinking the fact you have lots of viewers and several decent offers means that eventually you will find 'the right one'. If you are still getting viewers 4 months in that is also a positive. If you are getting desperate to move maybe it is time to lower the price?
Personally I think it is just a matter of giving it time.
We are in a similar situation - 16 viewers in < 1 month (4 this week!), just the one offer of ~ 5% below asking. If the viewings had tailed off I would consider lowering the price soon, but i think we will stick with it for now
Blimey. 16 views and only one offer but at 95% of asking?
You are playing hard to get.:cool:0 -
Our house has been on the market for 4 months.
In that time we have had
2 accepted offers
1 part ex offer from a private vendor who hasn't sold which we declined
At least 5 second viewings
1 other offer which fell through within a day because their buyer pulled out
The 2 accepted offers... The first we rejected after about 3 weeks because we couldn't find a house and the offer was leaving us 15k short of the houses we wanted (silly move in hindsight). We did offer on a house that wasn't accepted. 2nd offer, same deal, couldn't find a house and the people pulled out on us because we were taking too long.
We are finding this market incredibly frustrating. It seems totally a buyers market. We have had perhaps 20+ viewings in 4 months. Majority of viewings from people who haven't sold.
It's frustrating because we have no negative feedback. In fact a lot of the time the feedback is "it's a lovely house" / "like a show home"... But the reasons generally revolve around the garden being slightly too small. Someone even said it's just a bit too overlooked from an elevated position. As our house isn't an end plot and/or is slightly overlooked by 1 house it's loosing the location game.
Should we just hang tight. Its so frustrating we are getting such positive feedback but people aren't biting.
It's frustrating trying to sell - thinking it's a buyer's market - but you'll be on the other side when it comes to buying your next place.
As others have said, it's positive that you're still getting viewings. Possibly consider being a bit more positive when answering proposective buyer's questions - saying "Yes, we'd consider moving into rented / in with family if we haven't found somewhere to buy" will help. If you find a proceedable buyer (ideally a buyer not in a chain), then it's definitely worth being flexible to help the sale go through. It can even be a point of negotiation to get a better price - e.g. responding to an offer (via the estate agent) with something like "it's not quite enough, as we would need to cover the costs of moving twice and the inconvenienece" might lead to an increase of a few thousand in the "final" offer.
And breaking your chain (i.e. not trying to sell and buy at the same time) can be less stressful and can put you in a better position when it comes to buying.
Good luck!0 -
It's only frustrating because you keep rejecting the offers. Just sell the damn thing.0
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Blimey. 16 views and only one offer but at 95% of asking?
You are playing hard to get.:cool:
I think it is rare for buyers to go in first time with their last and final offer, so i reckon it is fairly standard to reject any first offer (use it as a filter for time-wasters!).
The fact they didn't come back with any kind of 2nd offer suggests either i have got this entirely wrong :eek: or that they were in fact not really serious!
I'd rather lose a 'buyer' over this than lose them when they change their mind in 3 or 4 weeks time (and my property has been off the market for that time)0 -
DannyboyMidlands wrote: »It's only frustrating because you keep rejecting the offers. Just sell the damn thing.
good point!
it is a tricky balancing act between time/desperation/frustration and the magic £figure in your head that you will not go below... usually something has to give...0 -
Our house has been on the market for 4 months.
In that time we have had
2 accepted offers
1 part ex offer from a private vendor who hasn't sold which we declined
At least 5 second viewings
1 other offer which fell through within a day because their buyer pulled out
The 2 accepted offers... The first we rejected after about 3 weeks because we couldn't find a house and the offer was leaving us 15k short of the houses we wanted (silly move in hindsight). We did offer on a house that wasn't accepted. 2nd offer, same deal, couldn't find a house and the people pulled out on us because we were taking too long.
We are finding this market incredibly frustrating. It seems totally a buyers market. We have had perhaps 20+ viewings in 4 months. Majority of viewings from people who haven't sold.
It's frustrating because we have no negative feedback. In fact a lot of the time the feedback is "it's a lovely house" / "like a show home"... But the reasons generally revolve around the garden being slightly too small. Someone even said it's just a bit too overlooked from an elevated position. As our house isn't an end plot and/or is slightly overlooked by 1 house it's loosing the location game.
Should we just hang tight. Its so frustrating we are getting such positive feedback but people aren't biting.
Personally I would sell it and rent.
We sold ours at the back end of last year and advertised it with no chain because we were going to sell it and rent for 6 months (moving to a new area).
However a house came up for sale in the new area - more or less our dream house - decided not to move out and rent but look for a holiday cottage near the new house for the 3 weeks we would be homeless - didn't need to in the end as our buyer's solicitor was a tad slow and they also had a gifted deposit and hadn't told their lender and that held up the proceedings for a couple of weeks
It is a buyers market and we sold in area where anything decent goes fairly quickly. We made the decision to make selling the house as easy as possible for any potential buyers. Our buyers had sold their house to first time buyers and they wanted in at the earliest possible opportunity. We were prepared to move out to let them.0 -
It is a buyers market so it depends how desperate you are to sell. I hear alot about people selling there houses then renting so it makes them chain free, maybe this is a path you should go down if you have not yet found a house you like this may also be of advantage when your looking for a house you want as you wont be so quick to accept just anything.0
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As you say you are getting viewers with properties still to sell, I would ask the ea to send you only proceedable viewers to cut down on time and effort wasted.
This way, although you may have fewer potential buyers, you will at least know that the ones you do get through your door are actually in a position to proceed with the purchase.
I second what another poster suggested, think about going into rented if you get a good price for your house and haven't yet found. It was what I'd intended doing, but I ended up accepting a low offer from a family already sold and living in rented as there was a vacant property out there that I wanted to secure. The thought of no chain was very appealing.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Another viewing this weekend. Surprise surprise another couple in rented who have been looking for months. Apparently looking at tonnes of houses so we don't hold much hope. There are loads of these people sitting on their hands waiting for the perfect house.
To update on our purchase. We have found sonewhere, the owners are willing to wait for us so that side is sorted
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