How can I get rid of my house?

bristol_pilot

The house looks fine. I don't know Blackpool so can't comment on the price, but the "no offers" bit is quite brash - even rude - in todays market. No-one pays the list price or screen price for a car and no-one paid the asking price for property until the boom of recent years which many people now think is over. Try keeping the price the same but remove the "no offers" tag. What the property is worth is what someone will pay for it - what you "need" to get for it is not relevant to its value.

Doozergirl

Decor might be a reason why a house doesn't sell if the price doesn't reflect the condition.

I just hate the way that people see threads like this as an opportunity to redecorate people's perfectly good houses instead of genuinely thinking about all the other reasons that it might not sell and trying to compare to the rest of the local market.

Is there anybody that seriously would not view the house because of the decor? People have been told to move vases on threads like this. It's surreal.

Admittedly, I did once tell someone to move the world's biggest, bright yellow bin from the foreground of a picture. Or maybe that was Lynzpower.

PasturesNew

Searching for your postcode on rightmove, I see a neighbour has an "Identical" house for sale at £4k more. But they've got a driveway down the side and a garage. So I'd be more inclined to see theirs as the better buy. Although yours has a west facing garden which is important to me.

I'd suggest you get your car off the front - and take those photos again so the red brick looks a bit brighter (like your neighbours house on rightmove). It looks a bit dismal and cheerless from the outside on the photo.

I'd lose the dining room picture, it does look a barren and soulless room. That blue isn't doing it any favours in the photo.

Every month you hold onto the house is costing you £1000 (+ stress) even if you do eventually end up selling it at that price. And what if the market bombs? What if you're stuck with it for a year before you get your price?

Better to take the hit now and be done with it, than try to hold out for a higher price.

I am in the camp that says house prices are falling.

I've just sold my house. I held out for a higher price for a whole year. During that year I lost £8k interest on the money I could have banked - and I had to pay a year's mortgage interest and bills - and don't forget that the bills on a big house are big too!

Overall, if I'd have sold for £23k under the asking price at the start, I'd have ended up £1k better off than I did in the end. In the end I had "gained" £12k over the first offer I received (£23k under asking) - but I'd lost £8k interest I could have earned. And I'd lost £12k in house payments/bill payments. AND .... I'd lost a year of my life and had stress.

Try doing your sums again:
- factor in bills
- factor in the interest/repayments on your loans
- compare different "time to sell" options.

Then see if you can't squeeze another price drop in.

If you're good with Excel you can manage this quite easily.

Good luck

dmg24

Doozergirl wrote: »

Decor might be a reason why a house doesn't sell if the price doesn't reflect the condition.

I just hate the way that people see threads like this as an opportunity to redecorate people's perfectly good houses instead of genuinely thinking about all the other reasons that it might not sell and trying to compare to the rest of the local market.

Is there anybody that seriously would not view the house because of the decor? People have been told to move vases on threads like this. It's surreal.

Admittedly, I did once tell someone to move the world's biggest, bright yellow bin from the foreground of a picture. Or maybe that was Lynzpower.

Sad to say, but there are some people that will let the slightest thing put them off. I knew a couple that searched for two years, price no object, but they would not even view a property unless it was absolutely perfect. Not my idea of how to search for a property, but there's no pleasing some people! x

dmg24

PasturesNew demonstrates the point about selling for a lower price very well.

When I was looking, I offered £5K below asking price on a property. Although the seller had had to move for work, and so was having to pay rent on another property, she declined my offer, and refused to negotiate. She did not receive another offer for six months, which was £10K below asking price. She accepted this (I kept an eye on Rightmove, am nosy!). Therefore by hanging out for what she thought the property was worth, she lost out on £5K plus six months mortgage payments.

bristol_pilot

I was going to make you an offer of £229, 950 cash for your house, but I see you are not open to offers so I won't bother. :rotfl:

Woby_Tide

bristol_pilot wrote: »

The house looks fine. I don't know Blackpool so can't comment on the price, but the "no offers" bit is quite brash

I was being a bit dim but actually took the "no offers" bit as being an honest estate agent admitting they had little interest in it...duh....whoops

debt426yo

LMAO Bristol_pilot, I've been speaking with my partner for the last half hour again. We've decided to drop it to £227,500 'Offers Welcome' - what you do think?

Thank you all for your comments, they have been truly helpful. (please keep them coming if you can think of anything else)

bristol_pilot

It can be instructive to calculate the minimum price you are looking for, which I take to be £225k in this case, as a percentage of the asking price. If you put it on at £227,500 then you would need offers of around 99% of the asking price, pretty much the same as "no offers". I would put it on at "offers around £234,500" - you may get offers at around 96% of that which would achieve your target and there is always the chance that someone will pay more. Yes, I realise that is more than it's on for at the moment, but the "no offers" bit is really off-putting. You need to get people through the door who intend to offer a lot less initially, but will offer more once they have seen the property.

guppy

Love your house, but no idea about the price as I'm not from your area. How long has it been on the market?

I read once if you get lots of viewings but no offers - something about the house is putting people off, but if you get no viewings at all - the price is too high (or your agent is rubbish). Made sense to me.

As others have said, make sure it is on Rightmove. The downside to Rightmove is, it will stick out like a sore thumb if its overpriced.

I would say lose the "no offers" bit too, even if you have to put the price up a couple of grand. People like to try and negotiate a bit off.

If the price is reasonable you shouldn't have to wait too long for a sensible offer, so try and "hang in there".

Good luck.