Advice on selling my house

mm1985

Hi, we recently viewed a property and after a 2nd viewing had our offer accepted however the house will not be taken off the market until our property sells. Our house has been on the market for 2 week in which time we have had 3 viewings, one of which has resulted in a 2nd viewing. The first couple liked the house but don’t want to put in an offer until their property sells, the 2nd couple (who viewed twice) are currently considering putting in an offer but as of yet have not (it’s been 5 days since 2nd viewing) and the 3rd couple said the house was stunning but felt
the garden was a little overlooked (this is why we are wanting to move) 

my question is this, after 2 weeks and only 3 couples viewing should we reduce the cost or hold out? 

I can’t post a link but the property number is 77150047

would appreciate all thoughts 

toniq

https://www.rightmove.co.uk/property-for-sale/property-77150047.html

hazyjo

Rarely a good idea to offer until you have a buyer (can list reasons if you like, although I do say them lots on here).

How does it compare to other similar properties (sold and currently available)? Overpriced, sensibly priced, or cheap?

If the middle or latter, I'd hold out. Market's improving slowly in lots of areas, the weather is currently rubbish, and spring is (hopefully) round the corner which prob means more people will start looking again.

mm1985

hazyjo said:

Rarely a good idea to offer until you have a buyer (can list reasons if you like, although I do say them lots on here).

How does it compare to other similar properties (sold and currently available)? Overpriced, sensibly priced, or cheap?

If the middle or latter, I'd hold out. Market's improving slowly in lots of areas, the weather is currently rubbish, and spring is (hopefully) round the corner which prob means more people will start looking again.

It’s a really difficult one. We weren’t actively looking to move. Our search criteria is so specific and we want to stay in the area due to our kids being in school etc so we viewed and put the offer in subject to our house selling. We won’t be heartbroken if another offer is put in on the house we like. If this did happen however we would most likely take our house off the market as we don’t want to be in a position where we sell and can’t find a place to buy. We love our home and again wouldn’t be heartbroken if we had to stay but in the position we are in now I was out for advice on how to go forward considering we have only had 3 couples view in 2 weeks. 

The area we live in is sought after, there are not that many 4 beds on sale within a mile of us at the moment and the most comparable is on for £450 and is detached so I would do ours is fairly priced.

hazyjo

Trouble is, by putting an offer on it, it makes it more appealing to others (human nature) and to rush their decision.

If you viewed a house and the EA said "Very popular, this one. Received an offer as soon as it hit the market for a hair's breath under the asking price but they are, as yet, unproceedable although they have had interest on their house so hopefully it shouldn't be too much longer" - how would that make you feel? [Guessed at some facts here, or at least improvised on behalf of the EA who prob would say something similar anyway.]

Also gives you no or little wriggle room on your property. If someone offered you say £20k under, you may have been able to see if the vendors would agree to sell for less in which case you could accept that offer (been there myself. Took a hit on mine as the one I was buying was reduced substantially).

There are other reasons...

Speak with the EA, tell them you've found somewhere you're really keen on, and try to get them to drum up business by contacting clients or further advertising.

mm1985

Thanks hazyjo. All very valid points. The house we have put an offer in on was on the market since may so I’m not too sure they’ll get a rush of prospective buyers. We’re actually starting to wonder why nobody else has put an offer in. We have a good amount of equity in our house and this is why we are wondering when or if we should reduce the price. I’m planning to speak with EA on Monday and in the meantime we have access to daily Rightmove stats through the online portal the EA uses and we are getting a good amount of click throughs. 

markin

No need to lower the price, you have 2 people on the hook, unless its 'offers over' and the EA has made it clear to them you would be very offended.   They are free to offer 10k under if that is what they fells its worth.

You say its over looked i would say its not really, just 4 trees would fix that.

bob_the_dinosaur

The one on since May can be anything, some sellers are more motivated than others, another house could have been for sale close by, could be anything.
If you are getting click throughs, viewings etc then thats all good, the EA will only be worried if that stuff isn't happening

Moneyminded

If you love your house but want to move due to the overlooked garden couldn't you plant some taller trees along the fence line to create a sense of privacy and save yourself the hassle and cost of selling/ buying?

mm1985

Moneyminded said:

If you love your house but want to move due to the overlooked garden couldn't you plant some taller trees along the fence line to create a sense of privacy and save yourself the hassle and cost of selling/ buying?

We have thought about this plenty of times. For us it’s not so much the houses overlooking it as it is the path to the side of the house being a couple of feet higher than our property which means people can walk straight past and see in. Again we could plant trees but this would block the sun and take away some of the garden. The estate behind us is privately owned and after speaking to the management company it looks like it will never be adopted by the council as it doesn’t meet regulations. There is about 6ft of grass on the outside of my fence, I have asked if we can buy this land as was told it wouldn’t be worth it for the shareholders, I then asked if they could plant trees there and was told this too wasn’t an option and it would cost money to maintain. As much as I love my home there are a few things I would like to change and this new property offers these changes. I’m going with the belief that if it’s meant to be it will, if not we can always try again in the future. 

pimento

If the only reason you're moving is because your garden is overlooked, you could change that by planting some shrubs or a couple of small trees on your boundary. Your garden is completely bare.