Selling a Wimpey no-fines house.

memobility

Hi i am having so much trouble selling my home its unreal i didn't expect it to sell overnight but i am about to verge on the 3rd estate agent.

I have lived in my home for the last 17 years mortgaged by a high street bank, home insurance straight forward with large well known insurance company. never an issue, both obtained first application.

I have approached via email our local bank and the manager has viewed the mining report and is aware of the construction and is happy to lend as i was advised by the first estate agent to purchase the interpretive report for the mines which i have 2 in the 20m vicinity one is an issue as its 1/2 deeper than the other yet its the mine that's the furthest away the coal authority have lost the paper work to prove if the mines have been capped or not.

All i keep being sent for viewers is buy to let investors offering 20% less for a quick cash sale.

I just seem to be going round and round in circles with these estate agents.

Has anyone had any experiences like mine and is there light at the end of the tunnel.

carefullycautious

We have lots of wimpy no fines where we live and they fly off the shelves here in the Midlands. My only thought is that the mine situation is putting people off.

ognum

memobility wrote: »

Hi i am having so much trouble selling my home its unreal i didn't expect it to sell overnight but i am about to verge on the 3rd estate agent.

I have lived in my home for the last 17 years mortgaged by a high street bank, home insurance straight forward with large well known insurance company. never an issue, both obtained first application.

I have approached via email our local bank and the manager has viewed the mining report and is aware of the construction and is happy to lend as i was advised by the first estate agent to purchase the interpretive report for the mines which i have 2 in the 20m vicinity one is an issue as its 1/2 deeper than the other yet its the mine that's the furthest away the coal authority have lost the paper work to prove if the mines have been capped or not.

All i keep being sent for viewers is buy to let investors offering 20% less for a quick cash sale.

I just seem to be going round and round in circles with these estate agents.

Has anyone had any experiences like mine and is there light at the end of the tunnel.

What has the sale price been for properties on your road to date?

Is your asking price in line with what other houses have sold for?

If you are constantly being offered a particular price could that be the right valuations?

memobility

I too live in the midlands, by wednesbury, maybe your right could be mines but a major house builder was happy to take part exchange for my home until they discovered the construction the mines i'm told are not a major issue if not under your house as they all put it, so it just keeps going form one to the other.

memobility

Hi we have it on the market for a realistic figure in keeping with the local prices and all i keep being offered it 70k cash, and after fee's would be 68k it seems to be the trend in our area that its known of the history of the area mines etc and they are all being sold to buy to let and the agents push you towards this if you haven't managed to sell within there time scale, either 12 to 14 weeks, this has been my experience twice now we have buyers with cash if you sell for 70k.

AdrianC

memobility wrote: »

Hi we have it on the market for a realistic figure

Potential buyers clearly don't think so.

But since they aren't even getting TO the house, there must be something fundamental with what they are seeing.

It's RM link o'clock.

ognum

memobility wrote: »

Hi we have it on the market for a realistic figure in keeping with the local prices and all i keep being offered it 70k cash, and after fee's would be 68k it seems to be the trend in our area that its known of the history of the area mines etc and they are all being sold to buy to let and the agents push you towards this if you haven't managed to sell within there time scale, either 12 to 14 weeks, this has been my experience twice now we have buyers with cash if you sell for 70k.

If you have been on the market that long and no residential buyer is interested at that price it would seem to me that either your house is presented very badly or it's the wrong price.

You have to price it with the mines and the construction being taken into consideration and it seems the owner occupiers will not take the risk at that price.

So, I guess you have a few choices.

-Stay put
-Improve the presentation
-Lower the price
-Accept one of the offers you have

pathtofreedom

Even if they can get a mortgage, if it was me there have been so many sink hole stories of late if the report says it is over a mine I'd worry about something like that, even if there is probably no chance. If there were two houses to choose from though I'd pick the one without the mine worry.

pathtofreedom

Oh also is there fracking planned in the area, as fracking plus mine would be a definite no for me.

memobility

I do get plenty of viewers and they are interested one lady came 5 times but when it came to the application for her mortgage she simply could not get the funds due to her own personal circumstances, others had mortgages agreed with other banks in principal and were not prepared to do another application to another bank which would lend on my home.

ognum

There is plenty of choice in your area at your price.

Rightmove has 191 houses for sale at below £90k within 3 miles of Wednesbury.

The question you have to ask yourself is why would they choose your house of non standard construction which could suffer the whims of the lenders in the future and become unmorgagable.

The mortgage companies go through shifts of opinion and sometimes won't mortgage on flats above shops or non standard construction or homes in flood areas.

If yours was the only home at that price someone would buy it but the choice is massive with some ice standard construction homes.

I also see that there are lots of properties that have been on the market a year or more so the market is pretty slow and that won't help.

How much did you buy for?