Struggling to sell our house

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
66 replies 7.5K views
Ella235Ella235 Forumite
24 Posts
Hello

Looking for a bit of advice. Me and my partner are moving to Leeds. We currently own a house in Bristol. We have seen a house in Leeds and had an offer accepted on it. The vendors knew our situation and accepted the offer knowing we hadn’t sold our house but that we’d been led to believe it would be easy as Bristol is high demand area.

We were told we could sell our house for 210-230. We listed at 210 at the end of August and reduced to 200 last week. I know it’s bad timing with brexit etc but when you search houses in the area ours is by far the best for that price. The others at that price are flats or houses that need a lot of work. Ours is a decent sized 2 bed.

Any tips on how to sale quickly? I’ve seen a few websites that offer cash buys but I’m not sure how reliable they are! I’m a teacher so I’ve already relocated and am staying in a house share. We would like to move as quick as possible to be back together and hopefully not lose our dream home but we’re beginning to lose hope a little!
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Replies

  • coolttcooltt Forumite
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    I don;t think Brexit is anything to do with it, we just bought in Bristol and every house we looked at back in June, July has also sold. The Bristol market is still strong but we didn't even entertain paying that amount of money for just a two bedroom.

    Personally i feel the issue with paying for a 2 bed house in Bristol Centre is, you'll be paying the same amount for a brand new apartment overlooking the river.


    Where are you selling?
  • What part of Bristol are you in? What are comparable houses within half a mile selling for (look on sold prices)? 210k for a house in Bristol suggests it might not be the nicest area (if you mean youre in walking distance of the centre)- those areas may take longer to sell in regardless of how nice the actual house is.

    How many viewings have you had? What has the feedback been? Have you had any offers? Have any similar houses been SSTC that you can see (near yours since you put it on)?
  • eddddyeddddy Forumite
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    Ella235 wrote: »
    Any tips on how to sale quickly?

    It's generally down to price.

    What does your EA say? Are other similar properties at similar prices selling well? Or is nothing similar selling at the moment?

    Speak to some other EAs as well, and see what they say.
    Ella235 wrote: »
    I’ve seen a few websites that offer cash buys but I’m not sure how reliable they are!

    It's not really a question of reliability, it's a question of what they'll pay you. (They're in business to make money.)

    They generally claim they'll pay you 70% or 80% of the market value (not of the asking price).

    So they'll probably start by saying that your property is priced 10% or 20% over market value - so they'll take 10% or 20% off.

    Then they'll take another 20% or 30% off to get to their 70% / 80% figure.

    If you're prepared to take a figure that low, I suspect that any EA could sell it in days at that price.
  • Selling in Kingswood.

    I agree, paying that price for 2 bed is a lot but it’s under valued compared to others around us. A
  • We’ve only had 2 viewings, no offers.
    Ones around us have sold for 210-220 but one did just sell for 195 although it needs a lot of work doing to it
  • Our EA thinks it is currently on for under value. We thought about a different EA but there is one more on our street that isn’t selling and it’s on for 10k more.
  • SystemSystem Forumite
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    Decorate and new carpets/ floor covering, if you haven’t already. Makes a big difference. Have a good old spring clean - all UPVC frames and doors, and windows. Etc., etc., make it brand new.

    You need to be head AND shoulders above the rest.

    Spend a grand and bit of time, if not already. It really does make a massive difference.
  • Makes more sense now. I was thinking you were in central-ish Bristol (in which case 210k will get an absolute dive and I was thinking the area waa the issue).
    210 for a 2 bed seems fair-ish for Kingswood/Warmley. I just had a quick look and if its one of the nice one then it seems, if not the right price (there isnt much interest suggesting not) then not too far off. If its not one of the better ones, then 210 against quite a few for 190-200, I wouldn't expect many more viewings. Maybe the listing isnt selling it? There are quite a few with some poor photos. Hopefully yours isnt one of those....

    If you're willing to sell at a low price for a quick sale to a house buying company just split the difference and reduce the price yourself.
  • Ignore the house that isnt selling for 10k more. All that tells you is that people dont want that one either....better to pay attention to what is selling.
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