Selling. 3 months and no offers

advice_please_2

Thanks
Yes larger mortgage but still need to sell to release equity as deposit etc

PbroAgent

advice_please wrote: »

Thanks
Yes larger mortgage but still need to sell to release equity as deposit etc

I understand that, but what I meant was do you have enough equity to be able to reduce the asking price by another £20,000 for example, and still have deposit for a mortgage for 20k more than you were previously planning (and would you be happy to do that?)

greggymagic

advice_please wrote: »

Have done so next door which is an attached semi went for £234k end of 2010. A similar house on another road £230k.
Ours is end semi better condition, now priced at £229k

End Semi? Do you mean you're end of terrace?

advice_please_2

Ah i see. Honestly reluctantly to drop price that much as the other houses sell with little movement

Actually it's a semi
Next door is joined on as a semi, but the next door and their neighbours are joined by adjoining garages

PbroAgent

In which case you need to be patient and hope that the right buyer comes along soon.

**Next door is a linked semi.

yorkshire_terrier_owner

My parents are currently selling their house in the West Midlands which has a very flat market at the moment. Their house is a large 3 bed semi that has been significantly extended. Other houses in the same street that are not extended have sold in the last year for approx £200k. They put theirs on at £175k 2 months ago. The result has been on average 2 viewings a week and 3 proceed-able offers (£169k, £172k and £173k), one of which we have accepted - we didn't accept the highest offer, we went for the one in the middle because they were in the best position to proceed. Fingers crossed now that it goes through OK.

advice_please_2

Questions I get asked by friends has you thought about swapping agency, but I can't see what it will do really

Davesnave

yorkshire_terrier_owner wrote: »

My parents are currently selling their house in the West Midlands which has a very flat market at the moment. Their house is a large 3 bed semi that has been significantly extended. Other houses in the same street that are not extended have sold in the last year for approx £200k. They put theirs on at £175k 2 months ago. The result has been on average 2 viewings a week and 3 proceed-able offers (£169k, £172k and £173k), one of which we have accepted.

I think this is where the market is in most places. It was here 4 years ago and we're back again because the underlying economic situation's not much better.

In 2008, like your parents, we reduced significantly, allowing the sort of wheeling & dealing PbroAgent describes to take place. We were at the top of the chain which formed.

So, we sold and began a change of lifestyle that required a different type of property.

Two years later, thanks to the government and BoE throwing money at the situation, prices had recovered somewhat in the area where we'd lived. So, in some ways it might have paid us to hang on, but we didn't have a crystal ball, nor unlimited patience. We still benefited by buying at the very bottom of the market 8 months after our sale.

As before, I don't have precognition, but I wouldn't put money on history repeating itself. 'Carpe diem' and all that.

advice_please_2

PbroAgent wrote: »

In which case you need to be patient and hope that the right buyer comes along soon.

**Next door is a linked semi.

16 weeks in
10 ish viewings
No offers
Dropped price £10k
Now patient is running low

Just wish I can do a bit more, not just drop price further and give it away

J_J_Carter

Time to put the 'home under the hammer'?