2 weeks and no viewings?

lookstraightahead

lincroft1710 wrote: »

IMHO, there are several unalterable factors which would put me off : footpath only access, parking away from house, bland unattractive appearance, small bedrooms, main entrance into kitchen.

If these weren't a problem to me, the poor state of the garden doesn't impress.

Yes but it's s terrace not a 6 bedroomed detached residence.

productof80s

Thank you for all your comments.

I’ll phone up the EA on Monday morning with a significant reduction in mind.

My partner any myself have seen a lovely property which is no-chain also. That may go.

If a LL can secure 6% yield- that’s 90K at 450PCM (if not 475 PCM) in a high demand area then it will get snapped up based on the advice here and the demand in the area- looks like it might be the best bet😝
Regards.

Mr.Generous

productof80s wrote: »

Thank you for all your comments.

I’ll phone up the EA on Monday morning with a significant reduction in mind.

My partner any myself have seen a lovely property which is no-chain also. That may go.

If a LL can secure 6% yield- that’s 90K at 450PCM (if not 475 PCM) in a high demand area then it will get snapped up based on the advice here and the demand in the area- looks like it might be the best bet😝
Regards.

Hate to cast some doubt but as a landlord I look for much higher yield. A 75k terrace pays 450 pcm why would I pay 90k to get the same?

productof80s

I’d say £450 minimum to £500 PCM for the area but yeah I see your point. So what kind of yield would a landlord think oh that’s a good deal. 8% yield, 10% yield?

Regards

getmore4less

IN the old days 10% was the goal to secure a return on a rental business.

That's before they gave away money and prices were rising fast so you were not totally dependant on the rent to make it work then everyone got on the band wagon.

Get the 3 rentals to ask their landlords if they want another place.

The 4 on the road look the same are they rented or Owner occupied?

Mr.Generous

productof80s wrote: »

I’d say £450 minimum to £500 PCM for the area but yeah I see your point. So what kind of yield would a landlord think oh that’s a good deal. 8% yield, 10% yield?

Regards

Yeah anything above 8% IS OK, 10% is great - never achieved more than 10.(?) something- IE less than 11. Not certain without checking.

productof80s

The 4 on the road are part of the same development in 1983 but are classed as a High Street address.

I believe out of the 4 that 2-3 are rentals.

Interestingly, all the 9 bungalows leading down to mine (as you walk down the snicket) are all 1 bedroom and privately owned all with owners of 55+. One just sold within a matter of weeks for 70K (well listed at this, won't know until the price is on the land registry) So a very quiet and well desired area still..

10% yield!, I thought 6.5 would be good, or maybe 7...

martin1959

I would still pay £500 to get your garden sorted out. Even a landlord would struggle to find tenants that would want to take on that.

Sort out the garden, the items left everywhere (box everything up you don’t need on a day to day basis and ask a friend/relative to hang on to them for a couple of months while you sell.

Seems silly to reduce price too much to compensate for an untidy property, when a bit of elbow grease and a few quid could sort it.

diggingdude

How desperate are you to be moving? Whilst dropping the price will assist the sale don't drop it so far that you line someone's pockets instead of your own. That being said, the bins outside and the garden photos really aren't great sorry

productof80s

We’ve seen a lovely property with no chain and don’t want to miss out on it.

Also due to life events, we would like to get it wrapped up by spring/summer.

I’m thinking a 10K drop to 105K on Monday and then see if any change. All them 800 odd right moves views suggests the price is a big factor (too high) along with the amazing pictures of course.

As we have got our eyes on one- a drop of 15k to 100k may help a lot.