Can't sell our house!

BettiePage

OP, nothing personal, but if I was looking to spend over a quarter of a million pounds I'd want a better kitchen, bathroom and flooring. No disrespect but they look cheap and nasty (I realise you've gone for functional in a BTL).

budget_counsellor_shaz

Becks045 wrote: »

...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.

Hi Becks,

I used to live in Margate and also Broadstairs, I also have freinds that live in Westbrook. Most of the house in that area have fair size gardens.
It seems to me that the extra building has been built in the garden space. Its also very close to the railway line. My house in Broadstairs was close to the railway it put some buyers off:eek:

Although the inside of the house looks great some things are impossible to change

BTW 5 Westbrook cottages sold for £135000 in June this year

IMHO you will need to reduce the price further mainly because of the outside space. Or continue renting it out if that works for you.

HTH, all the best in whatever you choose to do.

Shaz

jaype

Three beds attract families and they want outside space... Also, as someone said, laminate may be functional for rentals but for me it's up there with Artex or 70s wallpaper. Sorry. Maybe another BTL will come along?

PasturesNew

Yes, the property details need to point out that it's 2 homes in one. Self-contained annexe ideal for a granny or teenage annexe, somewhere for friends to stay or help pay the mortgage.

Of the pictures: that gate/car behind makes it look like a prison. I'd be thinking it was a bit dodgy round that way - take a new pic, open the gates, ditch the car.

As for the price.... for me it didn't stack up well against other/larger properties I could choose instead. It just didn't seem value for money.

If it were under the magical £250k I'd probably book a viewing if I was looking in Margate.

I'd want to live in the annexe and rent the house out.

Running_Horse

For that much money I would want a decent garden, and would be more likely to go for this one with a sea view and 6 bedrooms:

http://www.rightmove.co.uk/viewdetails-7926090.rsp?pa_n=2&tr_t=buy

Or this 4 bed semi:

http://www.rightmove.co.uk/viewdetails-7338711.rsp?pa_n=3&tr_t=buy

tomstickland

The advert needs more photos, and a floor plan. It needs to make it clear that it's two properties.

macaque_2

Becks045 wrote: »

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.

I suspect it is more a problem of buyers rather than price. The pool of money for lending on property has shrunk dramatically in recent weeks. The remaining buyers are also getting cautious.

To be blunt, I don't think it was smart to wait for a credit crunch before taking profits on an investment property. The writing has been on the wall for months. Perhaps things will sort themselves out but other possibility is that you could end up chasing the market down for years. If I was in your shoes now, I would try and get ahead of the game and take another slice off the price (and a big one). If you can pull in a couple of prospective buyers, you might end up with a half decent price.

jonewer

macaque wrote: »

The remaining buyers are also getting cautious.

Exactly, and one thing buyers do worry about is re-sale potential. As the OP stated, the house would only appeal to a very narrrow niche market.

Potential for re-sale is therefore correspondingly slim.

I'm sorry OP, but looking at the properties available in Margate, many of which are on for below £250k, I wouldnt touch yours with a bargepole at the current asking price. I would reduce the price to £249,950 and hope for the best.

Becks045

I know several people have said about outside space, both properties have a good sized courtyard garden and there is also a large south facing roof terrace as well.

Not a massive garden, I know, but the estate agents don't mention this in the particulars.

Thanks for all the advice, most helpful.

David_beach

Hi Becks

Would you mind PMing me the current rental status and income.

David