Property on market for too long...ideas???

Tyler119

Hi everyone,

So my partner's parents recently passed away and they had their house on the market. My partner and her sister have kept it that way as ideally they would like it sold.

The problem is that it has been on the market for a good couple of years and in the last year has had maybe 3 people view it and no second viewings.

Would anyone have any advice on where to go? The house is at http://www.rightmove.co.uk/property-for-sale/property-40348658.html

I thought it would be a good idea to have fresh neutral carpets put in the hall way. Freshen up the walls with new paint. Sort out the wall at the front of the driveway. Repaint about the upper front bay window.

In the garden, re-spray the decking and paint the summer house and tidy up the garden with some new plants etc.

If the bathroom was white I would leave it alone, but the suite is coloured, would anyone change this to improve sell appeal??

Also I find the photos do not really (inside one's) show accurately the size of the rooms as it is fairly big inside.

Any help would be good and I thank you!

Ive asked for help a lot recently but the advice is always really good!

moreofthegoodstuff

Pictures are good and the house looks tidy, you could paint the walls and change the carpets but the house is quite neat as it is and people generally want to redo it themselves anyway. I don't know about house prices in that area but have you thought about reducing the price slightly? Reducing the price puts it on the recently added section on Rightmove and that is how we found our house (previously was over our budget).

Tyler119

moreofthegoodstuff wrote: »

Pictures are good and the house looks tidy, you could paint the walls and change the carpets but the house is quite neat as it is and people generally want to redo it themselves anyway. I don't know about house prices in that area but have you thought about reducing the price slightly? Reducing the price puts it on the recently added section on Rightmove and that is how we found our house (previously was over our budget).

Price has been reduced a number of times already. Not really wanting to go down that route. We are having to pay inheritance tax, and they base than on the valuation of the house (by a surveyor), not the selling price so they could be losing out on money.



My other idea was to make the house smart and rent it out until the day the market become more up beat. This way they would be retaining the asset and receiving good income for it. Better than the money sitting in the bank earning nothing.

Thanks for your comment though.

jackomdj

I did just scan the ad but could not see any mention that it was chain free.

Mr_Moo_2

You can make a claim back on the IHT bill if the final sale price is less than the valuation made at the time the bill was originally calculated (with some caveats and time limits). IHT form 38 I think.

martinsurrey

Tyler119 wrote: »

Price has been reduced a number of times already. Not really wanting to go down that route. We are having to pay inheritance tax, and they base than on the valuation of the house (by a surveyor), not the selling price so they could be losing out on money.

My other idea was to make the house smart and rent it out until the day the market become more up beat. This way they would be retaining the asset and receiving good income for it. Better than the money sitting in the bank earning nothing.

Thanks for your comment though.

http://www.rightmove.co.uk/property-for-sale/property-32232026.html

within 1/4 of a mile.

the price is simply wrong, far too high.

sorry, but if you dont consider lowering the price it wont sell IMO.

lincroft1710

Reduce the price drastically, you're getting no interest at £280K and if you want the house sold, a low/competitive price is a great attraction. The current price seems very high for a 3 bed semi in Barrow which has no cloakroom or en-suite and has a very narrow garage.

The house quoted by martinsurrey is detached, has a cloakroom and en -suite with an offers price about £40K less than yours. If you were buying which would you go for?

As MrMoo says the final sale price can be used for the IHT calculation.

phoebe1989seb

Another vote for reducing the price - you've got the SDLT 'dead zone' of £250-£280k to consider after all. Most people (IMHO) looking at a property that's priced up to around £280k will be expecting to get an offer accepted at £250k or less.

When we recently had to sell my parents' (very similar, but on the South Coast) house as they have had to go into a nursing home, we initially marketed it at approx £270k and whilst we did get a couple of offers (at £235 & £250k - although the latter pulled out as he couldn't get a dropped kerb!), we then dropped it to £250k and received two asking price offers almost immediately - one of which we went with. The whole process from marketing to completion took just over three months

Obviously I'm not au fait with the market in your area, but based upon the house linked by another poster, I would say yours is overpriced.......

neiluk111

It's quite simply the wrong price. There have been a number of similar houses sold on that street for far less.

As an example, No 20 for £185K in 2011 and 29 was sold for £205K in 2007.

I'd guess that prices have been flat at best since then - perhaps dropped.

For details look at the Sold prices under House prices tab on Rightmove.


Link here

Kayalana99

It really is a strange one as I looked at that link and one sold for 280k in august...I am guessing this is where the price comes from orignally...looking at the other sold houses though it doesnt seem at all like its worth 280k I wonder why one sold for so high where as others are in the 200k mark? Doesn't make sense.

I do think some of the carpets could do with an update...either to proper flooring or nicer looking ones but as above posters people like to redecorate anyway and have to agree its probally the price...why dont u get it re evaulated by someone else and see what they think?

Edit: Looking at the 280k house that sold its alot bigger then yours(they have a hell of alot more land space even if the house is simliar size cant quite tell from photos) even if it was still 3 bed. I think who ever evalated that house took one look at the last house price sold that was 3 bedroom and added abit extra to take in the fact that was in august 2012. Sorry but price isnt justfied by what I've seen.

ian103

Change estate agent and re assess the asking price, I wouldn't go spending lots of money on it due to the fact that any purchasers will redo it anyway - money wasted (knock it off the price)