Trying to sell my house.

santashelper_2

from my experience its very rare to find a house you want and sell yours within the same time many people make this mistake and it rarly happens the best process is to sell first then look for the property you want

SquatNow

If you want to sell within 4 weeks then you need to do more than price "4k" below a similar property.

You need to knock AT LEAST 25% off to attract an investment buyer with CASH. That is the ONLY way your going to get a sale quicker than 4 weeks.

In fact even with 25% off I'de expect to have to wait longer.

You best bet is to send the house to auction with a reserve 30-35% below your current asking price.

What it comes down to is the house isn't worth £125k, it's only worth what someone is prepared to pay for it.

mystic_trev

Guy_Montag wrote: »

Bridging loans

Guy - I wouldn't think too many Banks and BS are giving out Bridging loans at the moment - too risky, particulary for those Banks needing a bridging loan from the BOE !

movilogo

You need to knock AT LEAST 25% off to attract an investment buyer with CASH. That is the ONLY way your going to get a sale quicker than 4 weeks.

I don't think you need to go for 25% for a quick sale! Even 10% reduction should do.

SquatNow

movilogo wrote: »

I don't think you need to go for 25% for a quick sale! Even 10% reduction should do.

10% might get you an immediate offer, but only 25% will get you an immediate SALE.

You need someone with ACTUAL CASH, that is, a pile a banknotes, rather than someone with an offer in principle from a mortgage company.

When Estate Agents talk about "cash offers" they generally include people with "offers in principle" from a mortgage company. They'll still need to get the morgage company to do a survey and approve the price etc, then all the transfering of funds etc.

You need someone with ACTUAL CASH.

A_Nice_Englishman

SquatNow wrote: »

10% might get you an immediate offer, but only 25% will get you an immediate SALE.

You need someone with ACTUAL CASH, that is, a pile a banknotes, rather than someone with an offer in principle from a mortgage company.

When Estate Agents talk about "cash offers" they generally include people with "offers in principle" from a mortgage company. They'll still need to get the morgage company to do a survey and approve the price etc, then all the transfering of funds etc.

You need someone with ACTUAL CASH.

Estate agents who say that are breeaking the OEA Code of Practice and probably the law too. See section 16b of the Code http://www.oea.co.uk/downloads/codeofpractice.pdf

sarahe

Hello
Our house went up for sale last Monday. We live in a 'desirable' area near to the University, 8 min walk across a beautiful park, 12 min walk to the railway station, 20 min walk to the hospital and 20 min walk into town etc. Our estate agent told us before we signed with them that they had a long list of buyers for properties like ours. So you can imagine how disappointed I am that this weekend we are showing 1 person round ! Am I being unfair? It's in the newspaper and their shop window - but I was expecting more than 1 person to view from this long list.
Oh well........

A_Nice_Englishman

sarahe wrote: »

Hello
Our house went up for sale last Monday. We live in a 'desirable' area near to the University, 8 min walk across a beautiful park, 12 min walk to the railway station, 20 min walk to the hospital and 20 min walk into town etc. Our estate agent told us before we signed with them that they had a long list of buyers for properties like ours. So you can imagine how disappointed I am that this weekend we are showing 1 person round ! Am I being unfair? It's in the newspaper and their shop window - but I was expecting more than 1 person to view from this long list.
Oh well........

It is illegal for an estate agent to claim he has potential buyers unless he can prove it is true. Ask him how many potential buyers for your property he has on his books and drop this fact into the conversation.

http://www.oft.gov.uk/advice_and_resources/resource_base/legal/estate-agents-act/handling-negotiations#named3

Nenen

A_Nice_Englishman wrote: »

It is illegal for an estate agent to claim he has potential buyers unless he can prove it is true. Ask him how many potential buyers for your property he has on his books and drop this fact into the conversation.

http://www.oft.gov.uk/advice_and_resources/resource_base/legal/estate-agents-act/handling-negotiations#named3

Brilliant advice NiceE :beer: I just wish I'd have known that a year ago when the first EA we went with told us precisely that... overvalued to get our business and then had just two viewers in 6 weeks... from his long list which included someone "desparate" for a house just like ours, (cash buyer too of course). :eek:

SunnyBrighton_2

There are very few buyers around at the moment, compared with what I would describe as usual.
We've been very fortunate, we sold in 3 weeks, but only had about 5/6 viewings - when we've had the house on the market previously, we had well over 12-14 in the first month.
We sold at 8% less than the spring/summer valuation.
You only need one buyer - as you've done everything right, it's probably just a matter of staying positive, and hoping. Good luck.