Help Me Sell My Elderly Parents House

the_greed

My elderly mum and dad put their house on the market this week as they are hoping to move to a smaller cottage near to where I live. The sign only went up on Wednesday morning and has not yet been advertised in the local paper, although it is on the internet. They live in Scotland and have asked for offers over £89500. It is semi detached, three double bedrooms, large gardens to front and rear, garage and shed with the usual extras, fitted wardrobes, carpets, curtains etc. and plenty of room to extend should a buyer wish to. So far they have had four young couples looking with some more expected over the weekend. They seem to be only in about fifteen minutes and leave. The house does need a bit done to it eg new kitchen, bathroom not to everyone's taste and other little things. It would be perfect for a DIYer. The people that have come all seem to be about eighteen, or maybe I am getting older. This morning I had a phone call from the estate agent that one couple thought that there was too much needed doing to it for their budget. My dad who is 80 was very disconcerted, I think he thought the house would sell immediately. I am getting worried for them as the house is in a good area, they have until July, how can I assure them and what can we do to make it more appealing to prospective buyers. They have never done this before and I want to reassure them that everything will be okay. The estate agent who came seemed to think it would sell easily. I just want to reassure them. I keep telling them it is early days but they are old and worried.

jennifernil

If it only went on the market this week and they have already had viewings they are doing well. At that price they will get lots of FTBs, possibly even developers as it needs a bit doing. It is VERY early days yet.

the_greed

Its just that the young people that have come to see it are expecting to walk into my parents house, put in a three piece suite and sit down, that is purely my opinion, but surely people are intelligent enough to realise that the asking price of offers over £89500 in this good area where houses do not come up very often is going to need work doing. My parents were told that between 10 and 15% above the asking price is the norm for the area. I don't want them worried unneccessarily and I have been there when prospective buyers have come to view I know it sounds daft but I have a feeling when I see them that it is going to be a no no. I know it has only been three days but these prospective buyers are starting to get on my nerves. I feel like telling them to p*** off. The other night two driving Miss Daisy's appeared without an appointment and they were only there nosing. I was speaking to the dad of the person that my parents have bought the house from who lives round the corner from my parents and he was telling me not to worry as a lot of people would go mad for the kind of house my mum and dad are selling, but I am failing to see this. I know they have until July but its driving me nuts. I mean when you show people round a house there is not that much to see so I suppose 15 to 20 minutes is maybe long enough. The estate agents have been excellent all the way keeping me posted with regard to viewings etc but its just that the house my mum and dad are buying sold within 15 days. I am maybe too impatient. It is two minutes from the local primary school and in a much sought after location. I mean there is great potential for extending the kitchen and other things but these prospective buyers don't seem to be seeing this. I am just so worried for my mum and dad.

mchu6am4

That's really cheap for the house you are describing and the area. I wish I was buying in Scotland!! I'm currently (FTB) in the process of buying a 3 bed (1 single) semi property that needs alot (about £20k) of work with all 60s decor throughout for £157k!!!!:mad:

Thank you Labour Govenment for all these extortionate prices, not to mentions the pensions cockup 'Lord Brown' initiated in his first budget! :mad:

Polovski

Perhaps the estate agents spec should say something along the lines of 'needs modernisation' or something - like you said, FTB's sometimes want to just put their 3 peice in and put their feet up - often because they have used all available finance to get the mortgage - nothing left over fro modernisation.

Sounds like my dream to be honest - if you could just move it to Wales for me!

Tiger_greeneyes

There's a few things you can consider - maybe putting your parents up for a while so they're out of the thick of things.

How about putting a fixed price on the property? Whilst there are loads of people who just want to move in and put their feet up, there's others who don't mind a bit of hard work. I think the sealed bids system puts people off, too. We've put in a few sealed bids over the last few months and missed out - we have now been landed with a £500 solicitors bill and we're still no closer to having an offer accepted.

Another thing you could do is have an open day - if your parents have somewhere to go for a few hours then maybe their solicitors could have a day where they make wall to wall appointments and conduct the viewings.

It must be stressful for your parents - and ultimately you - I hope it all goes well

Viking_Man

mchu6am4 wrote: »

Thank you Labour Govenment for all these extertionate prices,

You may not like the government but you can't really blame them for overpriced houses. Many other countries are blighted by the same problem, even though they have different political colours and systems. It's a global problem.

Tiger_greeneyes

The Tories got the exact same blame back in the 80's. The economy was already on it's knees when they came into power.

I do think the government have more power over the economy these days though, but it's not their fault the houses are so expensive. That's down to vendors wanting the best price and purchasers for paying it.

Incentives for vendors to cap prices would be a fantastic move - if anyone's listening

mchu6am4

Well, I'm no economist - but just an engineer - and the only difference I see since Lab have come in government is house prices have gone through the roof - its got to be somebody's fault for triggering all this - house on my road in 1989 sold for £20k - now they are selling for over £150k!!! That's a massive 650% increase!!!!! :mad:

What annoys me is that the goverment HAS benefitted from this massively - infact they took advantage - with all sorts of stamp duty to inheritance taxes to name but a few of the ways they've benefitted at the expense of general public.

Tiger_greeneyes

That's exactly how I feel, mchu6am4.

The government really do have far more say in the economy these days, they just don't advertise it. They've certainly manipulated it around to their benefit. I think people are starting to notice now!

lynzpower

I also agree that fixed price would work better.

Are there lots of pictures of the interior on websites & so forth.

FTBs dont have the money or expertise ( generalisation I now) to be putting in new kitchens etc. It sounds like a second or 3rd time buy house for me, a family home.

Dont worry jsut yet though.