Can't sell our house!

SquatNow

Put me down as £240k if he drops the price to £240k within 7 days, or if he holds out for the property's full "value".... £150k.

Becks045

Thanks all for the comment but I'd like a bit more than a toaster, 20p and old computer!

Fair point, I've gone back to the estate agents and said clearly you and the three other agents have over-valued it to which they have said they haven't its just a small market i.e. waiting for someone who potentially needs/wants a granny flat as well or perhaps for other uses.

I've droped the price to £275,000 today and am offering to pay the 3% stamp duty for a purchaser. That is a £40k drop and with the offer of stamp duty payment, perhaps may entice a few people to view.

Will test that for a few weeks as I've nothing to lose as am stuck with these crappy estate agents for a short while yet before out of my contract with them. They are so useless, I asked them whether they thought reducing the price and offering to pay stamp duty would help and they said, if thats what you want to do!! They haven't given me any professional advice. Useless!!!

dolce_vita

Becks045 wrote: »

I've droped the price to £275,000 today and am offering to pay the 3% stamp duty for a purchaser.....


reduce the price to 249 and it will sell all day.




.....stuck with these crappy estate agents for a short while yet before out of my contract with them. They are so useless, I asked them whether they thought reducing the price and offering to pay stamp duty would help and they said, if thats what you want to do!! They haven't given me any professional advice. Useless!!!




Estate agents require no qualifications or any particular skills. They are no better at valuing houses as you or I.
Their valuations are based on nothing more than how much the house down the road sold for.

In a rising market, they just add on a few quid and in a falling market they knock a few quid off.
Lenders' valuers do the same.

As I said in an earlier post on this thread, I find it amusing that people are able to amass properties without any idea of the workings of the market.

Many of them are now finding it difficult without the crutch of rampant HPI

CLICKY THING

EdInvestor

It's hard to make a judgment because the particulars are so poorly written.
You might like to draft a couple of introductory paragraphs, describing the property properly and featuring 'bullet points' on its features

eg

+2 bed character(?) property
+plus 1 bed granny annexe
+Good location for letting, own use or combination
+Ample secure parking
+Private terrace and courtyards

Get some decent pictures taken of the courtyards as well as a proper facade without gates, to show some greenery.

I'd have thought someone would buy it if the gross rental income represented about a 6-7% yield, so it's probably too expensive at the moment.A 5% yield on the price minus discount would be over 1,100 a month which sounds a bit high for fairly basic property in Margate, but perhaps I'm wrong.

One problem on the letting front is that effectively the person will be buying 2 BTL properties, not one, which may be too much exposure in the current climate.Can you show estate agent evidence of their lettability? That might help to convince a buyer.

wannabefreee

hi there the house looks lovely!!!

but the advert still does not state the extra building clearly enough it needs to be in the title so people lookin for something different are interested to clik on it and delve further into the particulars


thats what sold this house to me the facxt that although it was a two bed semi it had a converted loft and also a full bathroom downstairs as well as upstiars and a brick store at the end of the garden.....


two bed house plus separate annexe etc would make me want to delve further also the picture of the lounge makes it lok smaller than the dining room but i note its acutally bigger! can you change that picture to show the space?

good luck xx

Becks045

Just as an update, we have managed to get out the contract with the estate agents this week.

I asked them to change some of the copy and change the photos which they obvisouly couldn't be bothered to do. I got fed up of waiting so did it myself and they called me to say they couldn't work with clients in this manner (i.e. me doing their job!) so they would release us from the contract!!!! Never heard of an estate agent turning away custom.

The situation now is that I feel that the EA over-valued, as did the others and am considering reducing to £249,500 for a quick sale. Whilst it was on for between £280k - £300k we had 2 viewings.

Any thoughts on this? It is an unusal property in that its a 3 bed house and a seperate detached self-contained 1 bed house and they must be sold together but I guess lower the price will open up to a wider market.

Thoughts/advice gratefully received.

bs0u0128

put it on at 250K, itll show in two rightmove searches

Conrad

Becks045 wrote: »

We have now decided to drop a further £10k and pay the purchasers stamp duty costs which we hope may generate some viewings and interest. Is this the sign of someone who doesn't want to drop the price, Conrad?!

I

I'm with Simon Cowell; 'tell 'em how it is', not to be discurtious or mean, but in order to tease out the one only reality; if it's overpriced it does'nt sell!

Agents are merely conduits, they dont decide what sells, THE BUYERS DO.

You saying you've dropped £10k, and???????????????

I could advertise an old banger for £20,000 'dropped from £30,00', but this doesnt mean the banger is worth £20k.

Seriously, I cant be any clearer, it will sell only when the buyers expectations and wallet match your offering to them.

Conrad

Sorry Becks, just read your latest post and I think now you might be getting somewhere.

Very best of luck to you, but don't be unduly disturbed if it still does'nt sell. I live in a very picturesqe well healed area - nowt is selling now.

jonewer

Becks - What happened? Your house has been taken off the market? Did it sell?