Where do we go with our house sale?

bylromarha

Sorry for length of post! You guys always ask for detail, so giving it up front!

House has been on market since mid March with agent 1. Started at offers over £138,950.

Prices checked out with sold prices in area as much as it could as its a new build estate with not much movement. The 5 agents we had round varied their sale price from £120k - £150k. We bought in 2006 for £137,500.

A few viewings - feedback was not on price, more things we couldn't change (I couldn't fit my bed in the 5.23m x 2.8m bedroom; the ensuite has only got a single shower in it...). Agent left back door unlocked after a viewing and was sending people round who we found out after viewings, had already told the agents they weren't in a position to buy for a while. Swapped agents as not happy.

"Offers over" removed end April and swapped agents based on friends recommendation. Regretted the swap as no viewings at all in May. 3 viewings in June, of which 2 offers accepted of £133k. Both fell through: one buyer continuing to look and withdrew their offer, the second buyer didn't get as much cash from her parents as she expected.

Reduced to offers over £129,950 end June with us paying Stamp Duty - no viewings since then.

We don't know where to go now.

If we reduce to £125k, we know it'll probably sell quickly, but we're reluctant to do this as 2 offers of £133k says we had it on at the right price.

Agent is more than useless. Keeps saying it is priced correctly, but not doing anything to chase potential viewings. Lack of communication from them is the biggest bug bear.

We are now in the process of moving across the country to a rental house. We want to buy again and only want to rent for the 6 months we've signed up for. We're trying to balance taking the hit on the house price with the amount we could end up paying by renting.

So what to do? We see a few options.

1) Take house off market while we move. Put it back on mid August with a new agent, on at £135k. Reduce to £125k if not sold by end September. (my favourite option)

2) Leave on the market as is with same agent. (OH's favourite option :shocked:)

3) Put on the market with new agent, staying at £129,950.

4) Put on the market with new agent now, upping to £135k

5) Any other ideas?

Before you all start saying putting the price up is a silly idea because of property bee, my experience is that people who aren't on MSE have never heard of property bee!

Linky here if you fancy a nose.

mummyroysof3

Not sure what I would advice really but I think it's very nice. Houses in our area just aren't selling either and there has been lots reduced and we took ours off the market. It's a hard decision to make but I think with the sounds of it you may have to reduce or you will end up staying in your rental property longer which will be a hassle I'm assuming

witchy1066

mummyroysof3 wrote: »

Not sure what I would advice really but I think it's very nice. Houses in our area just aren't selling either and there has been lots reduced and we took ours off the market. It's a hard decision to make but I think with the sounds of it you may have to reduce or you will end up staying in your rental property longer which will be a hassle I'm assuming

I agree the house looks lovely,
the price seems fair , although I don't know your area, houses like yours at that price would sell all day in S Wales

perhaps its just because of the weather and people not looking to buy at the moment , just a case of wrong time of year to sell

sorry not much help to you I know

hope all goes well for you whatever your decision

mrginge

2 offers of 133k that fell through doesn't tell you that the price is right.
If i offered you 150k and then pulled put would you think about increasing the price?

Offering to pay stamp duty is a pointless and unnecessary complication. You wont attract many viewers at that price so i'm afraid if you want to shift it you'll have to drop to 125k.

cattie

As it's a recent build I would imagine you've got a lot of competition with brand new homes coming onto the market, many with 'extras' thrown in as incentives.

The big downsize with your house is the size of the kitchen, which will be considered too small for many potential viewers. So, to reel them in, you might have to bring the price down to a level that makes your house a great buy for a young couple or family looking for a modern house.

chickaroonee

I'd price at 125k personally

bylromarha

cattie wrote: »

As it's a recent build I would imagine you've got a lot of competition with brand new homes coming onto the market, many with 'extras' thrown in as incentives.

The big downsize with your house is the size of the kitchen, which will be considered too small for many potential viewers. So, to reel them in, you might have to bring the price down to a level that makes your house a great buy for a young couple or family looking for a modern house.

Thanks for your input.

The estate was finished around 2 years ago, so no new builds on this estate to compete with. The nearest new build estate a 5 min drive away, for this style of house (with this size kitchen...) is £160k.

The kitchen is small - when we viewed we thought that - but the size of the bedrooms and the living space outwon the kitchen in our eyes. 7 years, 2 babies later, the small kitchen has been an asset! Less mess.

At this price level, people make compromises like we did.

mummyroysof3

Personally I like small kitchens as they are easier to clean and you spend less time walking from one end to other lol

bylromarha

mrginge wrote: »

2 offers of 133k that fell through doesn't tell you that the price is right.
If i offered you 150k and then pulled put would you think about increasing the price?

Offering to pay stamp duty is a pointless and unnecessary complication. You wont attract many viewers at that price so i'm afraid if you want to shift it you'll have to drop to 125k.

Thanks for your input.

If 2 people offer the same amount then pull out, then I think that shows the price is about right. When I posted about this a while back, a couple of other posters said the house must be priced right as we'd had those offers and to reduce to 125k would be looking desperate.

So on EAs advice we went to £129,950 to get in the next price band, offering to pay S.D. and got nowhere with it.

jmt

I lived in Coventry during my childhood and my parents & grand parents still live locally (Ernesford Grange) so visit regularly. Keeping an eye on the local property market and weekly paper as my parents have their home on the market, I have never heard of your estate agents. You may not like the nationals (I don't) but I'm sure you would be better with some of the established ones. Who were your previous agents?

bylromarha

jmt wrote: »

I lived in Coventry during my childhood and my parents & grand parents still live locally (Ernesford Grange) so visit regularly. Keeping an eye on the local property market and weekly paper as my parents have their home on the market, I have never heard of your estate agents. You may not like the nationals (I don't) but I'm sure you would be better with some of the established ones. Who were your previous agents?

They've been trading just over a year, ex - Newmans staff.

Why do you think a long tie in, poor customer service and a massive fee to reduce the price would be better?