House sale - getting nowhere! Any tips?

thequant

getmore4less wrote: »

With an exchange on another place imminent, I would also review that purchase, if your expectations for your own place are high it may be clouding your judgment on the value of the one you are buying.

The bubble and crash in Teesside (or whatever it's called now) was a weird one, it started much later than elsewhere, but rose very rapidly in a short time but subsequently crashed in just as quick time.


Anecdotally, my mate bought a terraced house for £28k in 2005, at the peak in 2007 he was getting divorced, the house was valued at £100k.


He declined an offer of £92k as he was holding out for £95k


2 years later as the divorce was getting acrimonious their was an eventual forced sale for £58k.


He's still convinced it was worth £100k, judging by the asking prices of his neighbours they still think theirs are worth £100k


However the fact remains that the record price for his street, (which was achieved post crash as well), is my mates £58k sale.

DRP

thequant wrote: »

He declined an offer of £92k as he was holding out for £95k


2 years later as the divorce was getting acrimonious their was an eventual forced sale for £58k

Ouch! :money:

thestens

Just a quick update - 5 viewings since original post, 3 offers, (one £5000 above asking price but not sold theirs) just accepted £297 00 from people who have sold and want to move quickly! Only one in the village which has sold subject to contract since before Xmas, despite most of the others being on sale for longer than ours! So - just goes to show! Several people thought it was worth about what we were asking!!

thequant

thestens wrote: »

Just a quick update - 5 viewings since original post, 3 offers, (one £5000 above asking price but not sold theirs) just accepted £297 00 from people who have sold and want to move quickly! Only one in the village which has sold subject to contract since before Xmas, despite most of the others being on sale for longer than ours! So - just goes to show! Several people thought it was worth about what we were asking!!

I think it's likely it will fail it's mortgage valuation.

tigsly

I've only just found this thread.. but as someone ealier said 'price your has on a right move band'.. so go in at 300K not 2999995.. or 305.. as 300 will put your house at 'top of a list' (even if only a short while.. rather than lost further down!)

I can't find anything SSTC on right move.. will you 'show us your house'.. now?

Glad you've sold - and i hiope the valuation goes through fine

thequant

tigsly wrote: »

I've only just found this thread.. but as someone ealier said 'price your has on a right move band'.. so go in at 300K not 2999995.. or 305.. as 300 will put your house at 'top of a list' (even if only a short while.. rather than lost further down!)

I can't find anything SSTC on right move.. will you 'show us your house'.. now?

Glad you've sold - and i hiope the valuation goes through fine

http://www.rightmove.co.uk/property-for-sale/property-28703118.html?premiumA=true


No way will that survive the valuation, already been mentioned on the news today that that area is only one that is still falling in value.

thestens

We'll see!!!

thestens

Just a quick update - especially for thequant - valuation survey done today, absolutely no problems as I predicted. Sale going ahead nicely! We are still the only ones in the village to have sold since before Xmas, so price must have been right (and it's a lovely house!!)

mrluke

thestens wrote: »

Just a quick update - especially for thequant - valuation survey done today, absolutely no problems as I predicted. Sale going ahead nicely! We are still the only ones in the village to have sold since before Xmas, so price must have been right (and it's a lovely house!!)

Nice one . Take every one elses opinions with a pinch of salt . They probably still live at home with mummy and daddy .