Fussy ftb

Time2go

As the above. We are selling a flat in a fantastic central location 30 seconds walk from sea. For a quick sale property is in for 5-10k under market value (and 10k less than I paid 11 years ago).

We had a property developer offer at 2k under asking price but he got scared off by council. (Building is grade 2 listed , council told him it was grade 2 plus listed )

Anyway property is neutral painted but could do with some tlc in time but totally comfortable livable condition (for example it has an artex ceiling).

Anyway we have had 30 odd viewing over 2 years and a lack of offers. Feedback from ea Is that they like it but thinks it needs to mixh work. Now after having a chat with ea he mentioned he is getting more fed up with buyers as it's a fab large flat but not one of viewers we have had have actually gone on to buy anything as they seem to want something that doesn't excist and has unrealistic ideas.

So so you think modern ftb are more fussy or unrealistic??? Are The days of people wanting a place to add value to gone?

martinthebandit

Fussy ftb or overpriced?

I know what my guess would be.

hazyjo

Two years? Still sounds overpriced! Are you comparing against sold prices or asking prices?


There has to be more to it than 'tlc'. Is the place cluttered? Do you have a pet? Do you live near to a major compromise like a pylon, main road/motorway, pub, etc? Any murders nearby ?


How many years left on the lease? Is the service charge pricey?


Properties that need work are still popular in a good market. Yours has dropped over 11 years - that's still quite unusual in this day and age (mine's prob around four times the amount, if not more). No 'developer' is going to see it as something to flip. And people will only buy a doer-upper if it's priced accordingly.


I love a house but the vendors are unrealistic about its value because it needs work. They see everything else selling at £25-50k more and refuse to take a penny less than their 'offers over' price. I gave up and walked away. Lovely house - but it's only worth what someone will pay - and that is under the asking price.


Put a link up (although be prepared for very honest opinions!).


Good luck.


Jx

Lokolo

I am sure most FTBs would be happy to be less fuss if the property was priced accordingly.

"Could use with TLC but is currently comfortable living condition" to me means outdated. Something outdated would mean lower price.

Fosterdog

I agree with the above if it has been on the market for two years with no offers then it is not fussy first time buyers but an overpriced property. There is so much help for first time buyers to buy pristine new build houses that older houses needing work, being more hassle, and potentially costing more by the time any modernisation work is complete. It means you have to price competitively if you want it to sell, you would do exactly the same it their position.

LKRDN_Morgan

Surely any buyer can be as a fussy as they like? After all they're the one paying the mortgage not you or the EA.
I dare say after 2 years on the market it's you that's being unrealistic. On the price.

But that's just my opinion. As a fussy first time buyer....

Eric_the_half_a_bee

Time2go wrote: »

For a quick sale property is in for 5-10k under market value...

How have you estimated market value?

ReadingTim

Am not sure the extent to which one can add value to a grade 2 listed building - they're more often seen as a money pit rather than a money spinner...

After 2 years without a sale I don't think you can blame buyers for being "fussy and unrealistic" - I think that description fits the vendor and their price-related expectations, compounded by the building's listed status. Sorry if this isn't what you want to hear.

Surrey_EA

If a property is genuinely priced £5-£10k below market value, it is unlikely to be on the market for 2 years.

I suspect your expectation of market value may be incorrect.

Clutterfree

If it truly was priced £5-10k under market value then I can't see why you've haven't managed to sell it in 2 years.

Also, the last 2 properties we bought were period "doer-uppers" but if either had been listed, we'd not have even looked at them - too much red tape when it comes to alterations I'm afraid.

Like others have said, perhaps it is you who is being unrealistic, sorry!

hazyjo

Why do you think it's down to a 'modern FTB'? Anyone might choose to buy a flat! Downsizer, divorcee, low income, someone who's away a lot, someone who's skint, someone who doesn't want much space, or the hassle of a house, or a retiree - FTBs are just one of MANY types of buyer! For not one single one of them to have viewed your flat would be very unrealistic.