Stale Listing but not the case

Ltaun12

Hi all,

looking for a bit of advice please. We put our house on the market September, it sold 2 weeks later but the buyers couldn’t obtain a mortgage. 

Went back on the market October and again sold 2 weeks later, this time we were 3 days away from completion in Feb when the buyer’s solicitors determined that they would not exchange and see the completion through as the buyers had funds from Nigeria which they are unable
to to prove - not sure how we got this far in the first place as they already had their mortgage etc. 

We’ve been back on the market since 9th Feb with some offers but buyers who again cannot be financially qualified. Our listing looks stale now as it looks like it’s sat unsold since September when that’s not the case. 

What would you do, multi agent or new agent entirely? Getting a bit disheartened now as the property we wanted is also back on the market but we need to sell again in order to proceed. 

Many thanks 

Skiddaw1

House has been twice under offer, but not 'sold'. There's nowt you can do to bump it up to the top of Rightmove, etc, other than dropping the price significantly or coming off the market for a few months.

It's encouraging that you've continued to recieve offers. I'd let it stay on with the current EA as house is clearly attracting viewings and keep all crossed you find another (and procedable) buyer soon. Good luck!

RHemmings

You can remove it from the market, then back again with a new listing. However, people who use certain property portal apps may recognise the property and link your new listing to your old one. And people who use those apps will see the full history. 

Note that not everyone uses those apps, but some do.

Note 2: I used funds from New Zealand for part of my purchase. The checking of the funds and me providing evidence for that was quite a length (and tough) process. I still have an outstanding promise to my solicitor (which I will follow through with) to help provide more information on those funds should that be needed in the future. 

Ltaun12

Yes I suppose the correct terminology is that it’s been SSTC twice actually 3 times 😩

It is a featured listing on Rightmove, I’m
hoping with Spring and Easter more interest will attract if not we need to decide new agent or remove for awhile which we really didn’t want to do, We can’t drop the price due to our onward purchase and it’s been valued by 4 estate agents at the same price. 

Just very frustrating when we’ve found the property we want and had to go through storyboards for moving for our autistic child as we were very near completion 🥺

Ltaun12

RHemmings said:

You can remove it from the market, then back again with a new listing. However, people who use certain property portal apps may recognise the property and link your new listing to your old one. And people who use those apps will see the full history. 

Note that not everyone uses those apps, but some do.

Note 2: I used funds from New Zealand for part of my purchase. The checking of the funds and me providing evidence for that was quite a length (and tough) process. I still have an outstanding promise to my solicitor (which I will follow through with) to help provide more information on those funds should that be needed in the future. 

I think because Nigeria is a Red Flag country and he cannot prove what the transaction was for that’s the issue  I wish he could we wouldn’t be in this position if that was the case 🥺

Very true about new listings etc as I know the property we want to buy has been listed on and off for 3 years. 

housebuyer143

It might look stale but I don't think it's going to deter a new serious buyer to look at it, if it's suitable. New buyers to the market are looking at all the listings, not just the new ones. Your EA should contact people they know who might miss it and let them know it's back on the market. 
Same thing happened to me, 2 fall throughs and it looked really bad I thought on the property when it wasn't the problem. We sold it and just waited it out, didn't reduce or withdraw. 
Hopefully you get people looking soon. 

jonnydeppiwish!

Unfortunately, it will look overpriced for the simple reason it has been in the market for that long, and/or there are issues with it as the sales have fallen through.

The market has changed significantly since September and only one way - down.  I think you may have to reevaluate the price as the so called ‘spring rush’ would normally have started in February half term. It hasn’t. There are exceptions to this, as always.

Perhaps you can review the price of the property your are purchasing?

Scotbot

You can edit the listing to say unexpectedly back on the market, as 1in 3 sales fall through buyers won't be surprised. They may make assumptions but you can then explain what has happened.

RHemmings

This house listing looks nice and fresh. But, this is the first one we had a look at from the outside (we never viewed it) when starting to look for houses. It has been with at least one different estate agent before, and I think more than one. Anyone who has been watching the market for a while will see it as old, but to new buyers it won't be. I wonder if it will get linked to its previous listings on the apps. 

https://www.rightmove.co.uk/properties/144185498

RelievedSheff

I wouldn't worry too much. You are getting viewings which suggests the price is in the right ball park. Just sit it out and wait for another buyer.

Doesn't sound like the property you want to buy is going anywhere quickly if it has been on and off the market for three years!

ThisIsWeird

I think it would be unusual for a potential buyer to be deterred from even contacting the EA just because it appears to have been on the market for a while - there might be the odd paranoid person, but that would be rare (and you probably wouldn't want them chasing your house anyway ). 

Once they do contact the EA, they will have its history if it's of any concern, and why the previous sales fell through - now't to do with the actual house.