At our wits end - house for sale

AdrianC

FingersCrossed wrote: »

The balcony isn't part of the property, neither is the bay window.

So might be worth having a photo... of the property itself...?

Returning to the price, the properties nearby are all different so it's hard to find something comparable.

So scrap that bit. Use the space for something more useful.

If I could I would sell for any amount just to get rid of it but financially we just don't have the option of going below 110k.

You said it's costing you £1k/mo just to own it. With that in mind, is it better to sell it now for £110k or in a year's time (maybe) for £120k?

DaftyDuck

Sometimes, it's not price, it's just finding the right buyer. I'd guess it was that in this case. Big property, no garden, a few unusual features... a buyer will come, and pay that kind of money eventually.

Sure, if it was an estate house, same as some of the others, and they were selling, and yours wasn't, it'd be price/condition weren't matched. In this case, I'd guess (and it's no more than that) it's just chance.

I did have a large house for sale eight years ago, took eighteen months with no offers, and I then got two offers in the same week, both near-enough asking price. I hadn't cut the price in that time, I just hadn't found anyone who wanted that house.

Sure, cut quite a few thousand off, and someone will buy it faster/sooner, but that may not be what you want, or worth it to you.

Not much solace in that, but best of luck.

TBagpuss

I asked abut renting as I thought you might want to advertise it more specifically to landlords - for instance, if your sales blurb included details of letting income, or specifcally suggested that it would be suitable for conversation to a HMO or into flats.

I'm not sure how the planning process works in Scotland but it may be worth you making some preliminar enqures to see whether you can get an idea of how difficult it would be to get planning permission to convert it into flats, or into a property suitable for students or other sharers.

Like the PP, I could not reconcile the floor plan with the photographs to work out which part was yours.

Does in include the bit above the archway into the car park?

The agetns details describe it as a family home but I think the lack of any garden or outside space at all mean it is not going to be most people's idea of a family home.

Perhaps talk to them about marketing it on the basis of it's rental potential, useful commuting distance etc - I think the things which are offputting for a family are potentially much more appealing for (say) a group of young professional people looking for somewhere to rent without breaking the bank

Thrugelmir

At £500 rental now. That's not an attractive investment either. The property appears better suited as being divided into 2 flats. This will cost money. Hence the lack of auction interest either.

How much did you purchase the property for? If you've owned it before 2007. Then surely not that much. Which doesn't account for a £1k a month now. Sounds as if you've dug a financial hole. As to be honest given the lack of interest. Progressively reducing the price is your only hope of finding a buyer.

societys_child

AdrianC wrote: »

What else do you need to know, apart from "nobody's interested in buying it"?

It sold twice, so it seems there has been interest in buying it.

The ONLY definition of the value of a property - or anything - that makes any sense at all is a point at which somebody is willing to buy it.

See above.

Someone had already posted intimating it was overpriced without knowing anything about the property. As I said, someone will always come out with that bolox without knowing any facts.

Thrugelmir

societys_child wrote: »

It sold twice, so it seems there has been interest in buying it.

The property hasn't been sold that's the issue. Many people experience sales that fall through.

carefullycautious

You may be missing a trick. Looking at the map you appear within travelling distance to the coast.


http://www.seasidecottages.co.uk/holiday-cottages-for-sale/scotland.html


I could see it lending itself to holiday accommodation. Parking nearby etc.

cloo

I also looked at it and thought 'flats'... it seems to me it'd be better to market as 'potential to convert to flats' rather than 'family home'.

societys_child

Thrugelmir wrote: »

The property hasn't been sold that's the issue. Many people experience sales that fall through.

Yes, but the interest is there, the fact the sales didn't complete does not automatically make it overpriced.

missbiggles1

I'm not Scottish but, from renting holiday properties in Scotland, I thought an "upper villa" was actually a flat/apartment but you talk of it as a house.

Perhaps you could clarify?