House doesnt want to sell, advise appreciated

zagubov

In a nutshell, the photos and decor might put off female purchasers, the open-plan layout, lack of parking and gardens might put off growing families and anyone who needs to drive everywhere, and the leasehold will put off anyone capable of reading and understanding words as long as leasehold.
The modern auction method will put off anyone with a multiple-digit IQ.

You need to start again completely; to me, this doesn't come across as a serious attempt to sell a house.

markin

Over 250k seems very unlikely.


43, Britannia Wharf, Bingley, West Yorkshire BD16 2NN

£124,000 Flat, Leasehold, Residential 18 Apr 2019 2 bedrooms

£179,995 Flat, Leasehold, Residential (New Build) 29 Jun 2007

AnotherJoe

zagubov wrote: »

In a nutshell, the photos and decor might put off female purchasers, the open-plan layout, lack of parking and gardens might put off growing families and anyone who needs to drive everywhere, and the leasehold will put off anyone capable of reading and understanding words as long as leasehold.
The modern auction method will put off anyone with a multiple-digit IQ.

You need to start again completely; to me, this doesn't come across as a serious attempt to sell a house.

I agree, seeing the pics my first thought was, this a couple splitting up, one doesn't want to sell so they've deliberately made the house look as poor as possible and then chose a selling method that will cut out the remaining few percent that can look beyond that .the first picture alone will rule out 90% of buyers.
Even if it was fairly priced (and judging by other posters it isnt) , so-called "modern" method of auction is such a high stakes gamble that only someone desperate to buy would use it and based on the pics and price, no one would be desperate to buy this. If there was such a thing as an EA qualification then this advert would be enough to get the agents struck off for such an abysmal effort.
You also said you can't go much lower because you'd be in NE - that really doesn't matter, the price is what the price is not what your need it to be. You might do better to market it as a property targeted at would be landlords, indeed even get tenants back in so you are covering the mortgage and look to sell only to a landlord. Or just cut your losses lower the price again.*
But for goodness sake at least start again, new agent new pics new price and sell normally or just at an ordinary auction.

* you really bought a pup with this house since there's practically no one it suits. Even for house sharers the lack of parking makes it problematic. I think you will have to face the fact that you will either take a big loss on it or go back to letting it out

AnotherJoe

Crashy_Time wrote: »

125k will sell it IMO.

For once Crashy I think you are slightly optimistic.

Achilless

AnotherJoe wrote: »

or go back to letting it out

Those are my thoughts as well. You said that it's been good for letting the past 3 years so if the yield is decent, maybe consider continuing with letting it out.

muhandis

I'd echo the same. If you absolutely don't want to book a "loss" now by selling the property, given that you have had substantial experience as a landlord letting the property successfully, might be best to put it back on the market as a rental.

WolfofPotto wrote: »

It has been very successful as a letting property for 3-4 years and never struggles to get tenants

Achilless wrote: »

Those are my thoughts as well. You said that it's been good for letting the past 3 years so if the yield is decent, maybe consider continuing with letting it out.

Silver_Queen

As a female mid-20s millenial, I absolutely LOVE the decor. It's very industrial chic and very cool. If it was in the city, I think many people my age would buy it in a heartbeat. However, it's too far from the city for me to consider, so maybe it would be less of an option for my demographic.

The style of the building is absolutely great, the size of the property is nice for a first time buyer. The sticking point is that it would have to be an absolute bargain for me to live so far from the city.

AnotherJoe

How are an inadequate number and size of wooden kitchen cupboards and some non original laminate flooring "industrial chic" ???

bigisi

AnotherJoe wrote: »

How are an inadequate number and size of wooden kitchen cupboards and some non original laminate flooring "industrial chic" ???

Because "Mid 20's millenials" will call anything chic or some other ridiculous name if they think it makes it or them cool.

Blackpool_Saver

To be honest I thought they can't be serious when I saw the pictures, it looks like a before not an after. If that is spruced up I seriously can't imagine what is was like before, I mean come on even the cushions weren't plumped up and straightened! toilet roll holder wonky etc etc..... get rid of that agents, go through the place and sort it out, or as previously stated let it again. Also that scary picture that looks like a mud slide area...get rid