House not selling

Thrugelmir

Hutch100uk wrote: »

Although, EAs often over-value.

EA's work for the seller. Little point in starting too low if you wish to achieve the best price.

Hutch100uk

Thrugelmir wrote: »

EA's work for the seller. Little point in starting too low if you wish to achieve the best price.

No, not always the case. If you are getting lots of valuations, EA's often over-value to get the business. Then quickly encourage you to drop the price when, surprise surprise, it doesn't sell.

Gwendo40

It's definitely substantially overpriced compared to others that are available and have recently sold.

So if you're not prepared to move any further on the asking price I'd just sit back, chill out and wait (for probably a very long time) for the ''right buyer'' to come along.

Ian_875

Gav75 wrote: »

Hi. I'm getting viewers approx one every 2 weeks. As per my original post, I'm pretty sure price isn't the issue. All viewers say there's too much work they'd need to do.


It has a E rating, I would imagine because the heating system is an old back boiler style? Its fully operational but old.


Thanks

I know this area very well, I actually grew up there and live about 5 miles away now.

As some one that's just been looking for houses in Gateshead/Birtley I'd say it's overpriced I'm afraid.

I know bungalows are priced high, but the problem you've got here is that the people looking for bungalows are usually older and are downsizing, and if that's the case they're not really going to want to do loads of work. I think you've got two options really, either lower the price to temp a developer, or get it refurbished and then sell again.

An single pensioner/couple looking to downsize would want a place ready to move into I'd have thought. Anyone else (ie a young couple like us!) can find 3 bed semis in that area for alot cheaper.

pinkteapot

As a buyer, "offers over" immediately puts me off. What does it mean?! What sort of offer are you after?

"Offers in the region of" tells me a seller doesn't really want to take less than asking price - maybe a tiny reduction but that's it.

"Offers over" - not a clue what they're after.

If you want more than the asking price, increase the asking price!

Rant over.

TBagpuss

I think part of the issue is likely to be that the most obvious buyers are older people looking for a property which is more accessible , and most in that category are not going to want o have to do a lot of work.

So it might make sense for you to see whether you can take out a small mortgage or loan, and take it off the maket, do the rewire, new boiler and decoration and put it back on the market.

Alternatively, you can reduce the price and probably someone will bite, either because the fancy a bot more space for their money and are willing to do the work, or because they are a developer and will sell on.

If you want to carry on marketing as is, I would agree with the suggestions to improve the listing- better, mre organisd picures, a floor plan, and have an actual proce ather than' offers over'

Consoder changing agents if you are out of the lock in period.

Crashy_Time

Gwendo40 wrote: »

It's definitely substantially overpriced compared to others that are available and have recently sold.

So if you're not prepared to move any further on the asking price I'd just sit back, chill out and wait (for probably a very long time) for the ''right buyer'' to come along.

Good advice.

Gav75

I accepted an offer today at £180,000.


Not as much as I wanted originally, but I'm happy enough with the outcome.

Crashy_Time

Gav75 wrote: »

I accepted an offer today at £180,000.


Not as much as I wanted originally, but I'm happy enough with the outcome.

Good move.