Improving chance of selling

annaj42

Hi
We, like lots of people, are trying to sell our 2 bedroomed house in a rural village in Wales. We asked the estate agent why he thinks it hasn't sold and were advised to knock £7000 off the asking price. Another estate agent we were first with valued it at £20,000 above our current asking price (so in effect we have already reduced it by £20,000) and he says he can't understand why it hasn't sold yet. We are having quotes done to get oil central heating (we have a multifuel stove and a lpg bottled gas boiler that heats one radiator in the bathroom though could be extended to heat the whole house). My question is should we spend money on oil heating or reduce the house price?
Many thanks

Mistermeaner

How do you expect anyone to be able to answer that with the information you have provided?

If I just just said 'oil' would that be helpful?

Would you ask me for my reasons?

If my reasons were anything other than a cost benefit analysis of the cost of installing the heating vs the likely increase in house price would you be concerned? But how on earth could I know this if you didn't provide me with this info..... but then you would have answered your own question so wouldn't need me.

Why did you tell us that an estate agent you are not doing business with told You your house is worth 20k more than it is? Clearly they were wrong or you wouldn't be here now as your house would already have been sold at the price they said. At the end of the day something is only worth what people will pay for it.

If you want sensible answers to the question "what do you think my house is worth and what could I do to help sell it" post loads of info including a right move link and postcode on the housing buying selling forum.

For what it's worth I think you should knock 50k off the current price then it will probably sell

sequence

As the above says, not enough information. But having said that, there are places where you almost can't give houses away, because the area is so poor and/or remote to live in. Could it be that ? What are the local prospects like? You can buy some dirt cheap houses in wales, the problem is no one wants to live in these places.

cells

move it house to somewhere more desirable.

mwpt

Advertise that you will pay the stamp duty and then quadruple that cost onto the buying price so the future can pay it off. The future is rich.

p00hsticks

I think you'll get more responses over on this board
http://forums.moneysavingexpert.com/forumdisplay.php?f=16

Generali

p00hsticks wrote: »

I think you'll get more responses over on this board
http://forums.moneysavingexpert.com/forumdisplay.php?f=16

Better ones too I suspect.

@OP - IMHO, the main reasons a house doesn't sell are:

- Too expensive
- Buyers can't imagine living there for some reason

Both can be fixed.

HAMISH_MCTAVISH

This is the wrong board for it, but...

There's only really two ways to increase your chances/speed up the sale when selling a house.

1. Offer a similar quality of house to the others on sale but at a lower price.

2. Offer a much better quality of house to the others on sale but at a similar price.

Either way potential buyers get more for their money buying from you than from someone else.

Which improves your odds of selling quickly.

As for which option in the OP it makes more sense to do we can't really tell you whether you should install Oil heating or not. You need to look at what's for sale locally, what actual sold prices are being achieved, and then figure out whether your house is offering buyers more, less or the same as your competition at similar prices... Then improve the attractiveness or reduce the price accordingly.

annaj42

Thanks to everyone for the replies. I appreciate the time you have all taken and think I have the answers I needed. We are going to drop the price of ours first as I have always thought it (like others in the village that haven't sold for ages) are over priced.
Many thanks to everyone and apologies for posting on the wrong board.

Crashy_Time

HAMISH_MCTAVISH wrote: »

This is the wrong board for it, but...

There's only really two ways to increase your chances/speed up the sale when selling a house.

1. Offer a similar quality of house to the others on sale but at a lower price.

2. Offer a much better quality of house to the others on sale but at a similar price.

Either way potential buyers get more for their money buying from you than from someone else.

Which improves your odds of selling quickly.

As for which option in the OP it makes more sense to do we can't really tell you whether you should install Oil heating or not. You need to look at what's for sale locally, what actual sold prices are being achieved, and then figure out whether your house is offering buyers more, less or the same as your competition at similar prices... Then improve the attractiveness or reduce the price accordingly.

I wouldn`t mention the word "oil" anywhere in the ad if you are selling in Aberdeen.

Crashy_Time

annaj42 wrote: »

Thanks to everyone for the replies. I appreciate the time you have all taken and think I have the answers I needed. We are going to drop the price of ours first as I have always thought it (like others in the village that haven't sold for ages) are over priced.
Many thanks to everyone and apologies for posting on the wrong board.

:rotfl: You are certainly on the wrong board to use blasphemy like that. Actually I`m not sure how such radical an idea will go over on the main board either......:p