sale fell through

seekingpeace

seekingpeace said:

cymruchris said:

It worked out ok for me - the third sale was for £5k more than  the 2nd agreed price - and the onward purchase was £15k cheaper than the one I lost on the 2nd sale fall-through. So overall I'm in a better position.

What did your new agent say in terms of pricing?

You are with a proper agent - not the likes of purplebricks?

That's great news that it worked out better for you in the end 

Initially we went with a local agent that massively over-priced it (we now realise) from September last year to February this year, had 2 price reductions with them. From February this year till last week we were with a different agent who priced lower again, we had a further 4 price reductions before this sale that happened in our last week of their contract.

We are now with a national one that doesn't have a local office here as we think we must have exhausted the local market. They have priced it to sell (hopefully quicker) so that we can hopefully sell soon. To give an idea of how over-priced the first agent was, we are now on at 72% of our original asking price (and it's a 3 bed semi). A house round the corner from ours sold last with an asking price of £80k more than ours is on for.

realise that the wrong emoji came through! I meant the smiley face one! Also realised that it wasn't clear that in mentioning it's a 3 bed semi was to show that it's a significant price reduction for us, it's not a fancy house  or listed or anything

ReadySteadyPop

Flugelhorn said:

perhaps the buyer was just haven't second thoughts about being a landlord or increasing their portfolio. It is just a business to transaction to them - so none of the emotional stuff that goes into buying and selling a home

Exactly, he is just thinking in business terms.

ReadySteadyPop

seekingpeace said:

Hi,

We have been on the market a year with two estate agents and many price reductions but only in the last week of our contract did we finally get a (cash) buyer who didn't want a survey doing as our house is a new build and he wanted to let it out. We proceeded to find somewhere to move to, would have been in a chain of 3 people only as our vendors had found a vacant possession property to go to and then, our buyer, having had the draft contract 12 days just leaves a message with the estate agent to say he doesn't want to buy our house any more. No reasons given, no courtesy extended - didn't even tell our solicitor till the following day (and even then, just after 5pm). The only thing we can think of is a restrictive car parking covenant (each plot has 2 spaces, one of which is a visitors space), but in practice, everyone just uses the spot in front of their own houses and this seems like a weak reason for a landlord.  

We are starting to feel like we will never sell; we have re-listed but this is getting really hard to deal with. Please can someone help, we have new photos, a new agent and another price drop, I don't know what else we can do and we need to move. Please can someone help or advise

On the market for a year probably means that the pricing is wrong.