Desperate to sell house but area very rough

Yorkshirekel

Yes, you're right, just making me panic to hear that this has put buyer off buying in the area and worried that other people will think same. To be fair, they're not really doing anything other than being a bit of a nuisance with noise and horrible smell that seems to permeate air whenever they're around - but I can see how it might be intimidating for people. Fingers crossed it'll get sold again quickly and that I can resume my onward purchase. Just feels like an uphill battle with every part of buying and selling.

Yorkshirekel

It's a bit of a minefield isn't it? I based decision on condition of house and what others had sold for in the area.

Owain_Moneysaver

Yorkshirekel wrote: »

I’m told by estate agent that nobody has quibbled over price, it’s mainly about the area.

Which means that the people looking at the asking price wouldn't consider paying anything even close to what you want.

You will need to cut the price enough to appeal to a different demographic i.e. people who would consider living in that area. Or to the buy-to-let market who can let it out, as tenants will often consider a less desirable area knowing it's only going to be temporary.

AdrianC

Yorkshirekel wrote: »

I meant below what it had been valued for - I went for middle of three valuations because I know it’s all about where the house is. I’m told by estate agent that nobody has quibbled over price, it’s mainly about the area.

Then it isn't cheap enough for where it is.



Look, it's very simple. EVERYWHERE will sell for the right price. Somebody will want to buy your place, perhaps to let, perhaps because they're happy to go with the area so long as they get the space they can't afford elsewhere. BUT it definitely needs to be cheaper than the same house in a nice area.


If you want it shifted quickly, auction.

Yorkshirekel

ok, it's turned from the area being rough to me wanting too much money....it did sell for a price I was willing take (7k below asking price) but buyer pulled out because they got scared by crime mapping and what the area looked like when they drove around later at night. I can and will accept that price again if/when offered. My worry is that I could end up in a cycle of offers being made and withdrawn thanks to state of area. I have one viewing booked for Saturday and fingers crossed estate agent can attract more. Just gutted at the sequence of events....found exactly what I wanted and had offer accepted, got mortgage offer today then my buyer pulled out today. Way the cookie crumbles I guess. At least hard work of getting mortgage offer is done.

AdrianC

Yorkshirekel wrote: »

ok, it's turned from the area being rough to me wanting too much money...

There's no "turned" - it's the exact same thing.

it did sell for a price I was willing take (7k below asking price) but buyer pulled out because they got scared by crime mapping and what the area looked like when they drove around later at night.

Because for the same money, they can buy a similar place in a better area. Yours needs to be cheaper.

getmore4less

How wide is this rough area?

Are there any other characteristics, like ex council, mostly rentals, places look neglected

I think you are going to need to do a bit of more research on what is a decent price for your property.

Any other rough areas around what is stuff selling for in those.

Also check if stuff is selling do a more like this on rightmove and add in SSTC, you are looking for a decent amount SSTC if not then it is a sign people are just not buying.

Then widen the search area and see what people are buying for your money, if your area is an issue you need to be one of the cheapest of your type/size you need to attract the people that can only afford smaller places in te nice areas but need a bigger place.

You see this at the bottom end studio and one beds you get times when the only people that buy those are landlords because everyone can afford/wants 2 beds.


The first step might be to knock that £7k off anyway, what is the asking to give an idea of %.

SG27

Yorkshirekel wrote: »

ok, it's turned from the area being rough to me wanting too much money....it did sell for a price I was willing take (7k below asking price) but buyer pulled out because they got scared by crime mapping and what the area looked like when they drove around later at night. I can and will accept that price again if/when offered. My worry is that I could end up in a cycle of offers being made and withdrawn thanks to state of area. I have one viewing booked for Saturday and fingers crossed estate agent can attract more. Just gutted at the sequence of events....found exactly what I wanted and had offer accepted, got mortgage offer today then my buyer pulled out today. Way the cookie crumbles I guess. At least hard work of getting mortgage offer is done.

You didn't sell it you had an offer which was withdrawn.

How ling has it been on the market?

00ec25

Yorkshirekel wrote: »

I’ve considered cutting my losses and taking an offer way below market value

your idea of market value is wrong then since the offer you had was 7k below "asking price" and no one else is interested, probably because the real market value is way below what was offered anyway given the area.

if it is that bad then the market value will take that into account. You cannot therefore expect to sell above market value

getmore4less

Yorkshirekel wrote: »

I meant below what it had been valued for - I went for middle of three valuations because I know it’s all about where the house is. I’m told by estate agent that nobody has quibbled over price, it’s mainly about the area.

I can’t really stop making reports though because the main problem is large groups of youths congregating - anyone doing a reccy of the area will see it. Completely stuck between a rock and a hard post here.

Yorkshirekel wrote: »

Yes, you're right, just making me panic to hear that this has put buyer off buying in the area and worried that other people will think same. To be fair, they're not really doing anything other than being a bit of a nuisance with noise and horrible smell that seems to permeate air whenever they're around - but I can see how it might be intimidating for people. Fingers crossed it'll get sold again quickly and that I can resume my onward purchase. Just feels like an uphill battle with every part of buying and selling.

We used to have kids hang around a bit of green opposite me, the kids from the rough estate same school as the kids where I lived, they were smoking and drinking a bit of a nuisance, they were not doing anything else other than the odd can left and noise when they had had a few.

Conclusion was leave them alone they are kids and they are our own little neighbourhood watch, lasted a couple of year they grew up and the new kids on the rough estate go somewhere else as there not to be friends with on ours now.

What other crime is there? if all the complaints are about youths smoking weed it's not that bad, cars/houses getting broken into regularly is a steer clear.