What must be wrong with this house?

Loopy28

I have viewed a house that is absolutely stunning. It came on the market in March for 185k and as it has recently been reduced to offers over 180k.

I just can't understand why it has been on the market so long, properties where I live aren't selling fast but generally anything decent goes in 2-3 months.

I really want to put in an offer but wonder why noone has wanted it. The only negatives I can see are that there is no garage, just a double drive and the garden isn't very big.

I checked and they paid 175k for the property in 2007. Does that mean that it is overpriced as it was bought in the peak?

Alias_Omega

Hi,


exchanging next week. Seller bought house for £157,500 in 2006. We are paying £124,999.

The seller bought before the Peak, however its just not selling. Its 10,000 more than 3 bedrooms without a garage..

Its rough... seller bought it then probably had no money to maintain it etc.

smileykt

Loopy28 wrote: »

I really want to put in an offer but wonder why noone has wanted it. The only negatives I can see are that there is no garage, just a double drive and the garden isn't very big.

The house we are buying (about to exchange on!) was on the market for nearly two years. We're just pleased no-one bought it in that time as it meant we could! Other people may have thought it was overpriced but the price was worth it to us, as we love it (and thankfully the bank's valuer agreed with us!!)

If you like it, don't worry about what put other people off.

DettaWalker

Post the link for right move, lets have a look

gazter

Sometimes houses are just poorly marketed. Our house (the one we just bought) was on the market for about five months at £250,000. It blew out of the water all properties up to about £325,000. There was nothing remotely as nice as this one. It had great school catchment, perfect for access to all areas of the city due to new access roads from bypass.

We looked at dozens of properties. Nothing remotely close. Yet. It didn't shift. We paid £245,000 had a full structural survey done. Surveyor said he would love to buy it himself!

Just the way it is sometimes. A year in still loving it.

Strapped

Loopy28 wrote: »

I have viewed a house that is absolutely stunning. It came on the market in March for 185k and as it has recently been reduced to offers over 180k.

I just can't understand why it has been on the market so long, properties where I live aren't selling fast but generally anything decent goes in 2-3 months.

I really want to put in an offer but wonder why noone has wanted it. The only negatives I can see are that there is no garage, just a double drive and the garden isn't very big.

I checked and they paid 175k for the property in 2007. Does that mean that it is overpriced as it was bought in the peak?

Impossible to say based on the info you've given. The garden could put people off if it's a family-sized house. Or there could be something more fundamental - have you tried asking the agents whether there have been any offers?

moneyistooshorttomention

Maybe something to do with a neighbour, rather than the house itself?

1. Has neighbour got Japanese Knotweed in their garden and thus the house is possibly unmortgageable and certainly could constitute a headache?

2. Is neighbour antisocial in some way? (eg noise/garden-nicking with "adverse possession").

3. Other noise problems that occur in the area intermittently?

4. Hidden subsidence problems?

Fingers crossed that it might actually be a genuine bargain.

pinkshoes

We went to see a house that has been on the market for 18 months, when most houses sell in 2 months.

Turns out it's a divorce case, the woman living there does not want to move, and she refuses to take offers based on the poor state of repair compared to others which have sold.

Loopy28

I think people might be put off by the garden, it is a lovely garden but not at all practical for children and this sort of house is a family home. Plus there is a small kitchen, huge lounge diner but most people don't want the dining area in the lounge.

I looked at the history and this property was previously up for sale in early 2013 at 179k and it looks like it was removed as it didn't sell and then came back on a year later at 185k and now is at offers over 180k. Other houses on the street have sold for between 165 and 175k but looking at the previous listings, they were set out differently with a kitchen diner and bigger garden.

I asked the EA the reason for sale and he said that the owner is now alone due to husband passing and close to retirement and would like to downsize. He wouldn't tell me if they had any offers.

So I can only assume either that previous offers have been below 180k and the owner specifically wants over that figure, which in honestly is a bit overpriced. Or there have been no offers. When I told the EA I was interested, I did see his eyes light up! I am going to offer 176k, if refused go up to 178k and then make my final offer as 180k. I guess if that isn't accepted, I can only walk away. But am waiting for the snotty response from the EA when I offer below the offers over price!

pixnmix_2

My house was on the market since march too and it's lovely with a newly fitted kitchen, 2 refitted bathrooms and rewired, all done 4 years ago. The price was targeted about right but it has no garage, but 3 double bedrooms. It only had 6 viewings and the 6th viewer loved it on the spot. He put in an offer that I accepted 2 weeks ago! No house is 100% right for every viewer.

Mickygg

If you are happy with the value, then that's what the property is worth.