Can't sell our house!

Becks045

We've got an investment property which we purchased a couple of years ago which we have now decided to sell.

Its been on the market for over 6 weeks and in that time we've had one viewing. The feedback was they wanted a large garden and the house only offers a small'ish garden and roof terrace so not a lot we could do about that.

The estate agents have been rubbish and given us no indication of why we've had so little interest. We have reduced the price by £30,000 but still no interest.

It is a little unusal in that its a 3 bed house with a seperate 1 bed detached cottage (granny annexe/buy-to-let/holiday home) however I thought we would have had more interest than this!

Any advice on what we can do to get prospective viewers through the door?

Its now on the market for £285,000 (situated in Margate, Kent). May be we should consider offering to pay the vednors stamp duty as an incentive? Or an auction? Any thoughts gratefully received.

lynnexxxo

Few thoughts,

If you post the right move link here then we can all criticise it/say how lovely it is.

What sort of price are other properties in the area selling for?

missimaxo

Is it on a website? Can we see it to see how the agent has shown it?

Wig

Only 6 weeks? There are houses here been on the market for 6 - 12 months.

Becks045

...I know 6 weeks isn't that long but I did expect to have more than one viewing.

Here is the link... http://www.rightmove.co.uk/viewdetails-8991042.rsp?pa_n=2&tr_t=buy

Its situated in Westbrook (the nice part of Margate). Because of the price bracket (i.e. you are getting two houses for the price of one) it does mean it competes against large 6 bedroom houses but then I guess it depends on what you are looking for.

Personally we rent out both properties and receive a good profit.

ModernSlave

Hi Becks

If it's an investment property, why are you selling it? Are you getting a good return from the rental?

missimaxo

In my opinion the properties look OK in the pictures and I cannot really fault what the agent has put.

I think your biggest problem is possibly that you are looking for a very particular type of buyer, eg. someone looking for investment properties and not your usual person.

The price IMO appears high for what ultimately is a 2 bed house and a 1 bed house/ flat.

Could you not have them valued seperatly and therefore listed seperately... the lower prices may then attract people looking specifically for that type of property... and maybe if you get interest in one they may consider buying the other?

Becks045

We do get a good profit and the property has increased in value year on year

We own a few other investment properties which we plan to keep but personally we are buying a new house for oursleves to live in so would like to use some of the profit from this property (if we ever sell!) tp pay straight into our new mortgage.

There isn't anything wrong with the house at all and its always rented out the same day etc, its just a change in our personal circumstances.

lynnexxxo

As previous poster suggested, would you not be better trying to selling them seperately ?

Becks045

We can't sell them seperatly as they are on the same deeds. Although they are seperate houses i.e. own council tax, utility meters etc the access is via the same drive and when the conversion was granted about 18 years ago I beleive it was granted that they would always be on the same deeds.

It would make a great house for someone who wanted an eldery relative near to them but still independent or someone with an older teenage child. Or someone who works from home and needs different space to the main house. Or even someone that wants to rent out the smaller property, they'd almost live in the main house for mortgage free!

Red_Panda_2

Can you ask the estate agent to put a blurb about the 2 properties at the top before you get to the particulars?
From first glance you would not know they are 2 properties and lots of people will only look at the top and think its just one overpriced house so hit the back button before reading down.