Unable to sell house

Mr.Generous

someone post a rightmove link please.

Bailey1980

Thanks for all the comments. 

We had to get external wall insulation as the render completely went and it was the same price to re-render as it was get the external wall insulation so we thought it made sense to go with the latter.  So we spent money on that, a new kitchen and had a porch added to create some more space. So that's where the expenses have gone. 

We are getting quotes for new carpets - I thought maybe the slightly blue one was ok. That bedroom was the spare room and was hardly ever used. 

The estate agent has sold a house the street over for £182,500 and another one on the main road around the corner for £195,000; another estate agent sold a house on a perpendicular street for £178K but another on the main road was at £165k.  We are however, getting some other estate agents out for valuations. 

The estate agent has said if we do the improvements they will take more/different photos. 

We are already out of the house, but are struggling financially so I don't know if we can afford to do all the improvements that have been asked for. 

cymruchris

Oh yes and forgot to say - don't spend money on it other than the air fresheners and someone to take the carpet up and dispose of it if it's not something you can do yourself.

Pau_Marzek

Are you sure that it is not your neighbour abusing your potential buyers?

Bailey1980

Pau_Marzek said:

Are you sure that it is not your neighbour abusing your potential buyers?

 We've only had one report of that happening back some time ago and there's been no further issues

lika_86

The house you mention for £195k isn't a direct comparator to yours, it has another full bathroom, a separate dining room and is generally better laid out. The £185k one has better landscaping outside (both front and back) and is better presented inside. It's worth noting that those are the advertised prices, it's not clear if they have actually been sold for those amounts.

Forget the improvements, drop the price.

housebuyer143

lika_86 said:

The house you mention for £195k isn't a direct comparator to yours, it has another full bathroom, a separate dining room and is generally better laid out. The £185k one has better landscaping outside (both front and back) and is better presented inside. It's worth noting that those are the advertised prices, it's not clear if they have actually been sold for those amounts.

Forget the improvements, drop the price.

Ultimately that's what it will come down to. If people are viewing but not buying it's because the price isn't right. If it were, someone would have looked past the issues and offered. 
Unfortunately the things OPs mentioned as improvements are not things that will add equal value to the house on resale.

Bailey1980

housebuyer143 said:

lika_86 said:

The house you mention for £195k isn't a direct comparator to yours, it has another full bathroom, a separate dining room and is generally better laid out. The £185k one has better landscaping outside (both front and back) and is better presented inside. It's worth noting that those are the advertised prices, it's not clear if they have actually been sold for those amounts.

Forget the improvements, drop the price.

Ultimately that's what it will come down to. If people are viewing but not buying it's because the price isn't right. If it were, someone would have looked past the issues and offered. 
Unfortunately the things OPs mentioned as improvements are not things that will add equal value to the house on resale.

Thank you both for your comments. 

We know that the £185K sold for £182,500 as it's the same estate agent that we are using. 

I guess it's just the estate agent valued ours at £195K and we marketed lower than that  but now we are being told t to spend money on all the suggested improvements as well as reducing the price is a bit difficult to swallow because we really can't afford to do the improvements and then have the price reduced even further. 

Our concern is that if we drop to £170K, offers will come in at £160K or so which again is quite low especially given the agent fees. 

cymruchris

Bailey1980 said:

housebuyer143 said:

lika_86 said:

The house you mention for £195k isn't a direct comparator to yours, it has another full bathroom, a separate dining room and is generally better laid out. The £185k one has better landscaping outside (both front and back) and is better presented inside. It's worth noting that those are the advertised prices, it's not clear if they have actually been sold for those amounts.

Forget the improvements, drop the price.

Ultimately that's what it will come down to. If people are viewing but not buying it's because the price isn't right. If it were, someone would have looked past the issues and offered. 
Unfortunately the things OPs mentioned as improvements are not things that will add equal value to the house on resale.

Thank you both for your comments. 

We know that the £185K sold for £182,500 as it's the same estate agent that we are using. 

I guess it's just the estate agent valued ours at £195K and we marketed lower than that  but now we are being told t to spend money on all the suggested improvements as well as reducing the price is a bit difficult to swallow because we really can't afford to do the improvements and then have the price reduced even further. 

Our concern is that if we drop to £170K, offers will come in at £160K or so which again is quite low especially given the agent fees. 

You might find (and I say might) that if you drop the price it generates another round of interest - and you might end up with two people competing to buy - and so get an increased offer as a result. (Still likely below your current price - but just keep in mind there are so many scenarios when it comes to selling.) You could go to £170 and say that's it no lower. But before that I'd be taking the carpets out and putting in those air fresheners and ignoring the other stuff they said.

Bailey1980

cymruchris said:

Bailey1980 said:

housebuyer143 said:

lika_86 said:

The house you mention for £195k isn't a direct comparator to yours, it has another full bathroom, a separate dining room and is generally better laid out. The £185k one has better landscaping outside (both front and back) and is better presented inside. It's worth noting that those are the advertised prices, it's not clear if they have actually been sold for those amounts.

Forget the improvements, drop the price.

Ultimately that's what it will come down to. If people are viewing but not buying it's because the price isn't right. If it were, someone would have looked past the issues and offered. 
Unfortunately the things OPs mentioned as improvements are not things that will add equal value to the house on resale.

Thank you both for your comments. 

We know that the £185K sold for £182,500 as it's the same estate agent that we are using. 

I guess it's just the estate agent valued ours at £195K and we marketed lower than that  but now we are being told t to spend money on all the suggested improvements as well as reducing the price is a bit difficult to swallow because we really can't afford to do the improvements and then have the price reduced even further. 

Our concern is that if we drop to £170K, offers will come in at £160K or so which again is quite low especially given the agent fees. 

You might find (and I say might) that if you drop the price it generates another round of interest - and you might end up with two people competing to buy - and so get an increased offer as a result. (Still likely below your current price - but just keep in mind there are so many scenarios when it comes to selling.) You could go to £170 and say that's it no lower. But before that I'd be taking the carpets out and putting in those air fresheners and ignoring the other stuff they said.

Thank you. 

We are getting quotes for new carpets next week and we are going to get some other valuations as well.