House not selling

Herzlos

To be fair, "cutting the price" is pretty much his advice for anything. Terrible advice but he's still here regardless.

Hb92

After cutting the price to £155k we had about 12 viewings and only one offer. At first it was £145k, then £150k and now £152k. We have no more viewings booked and it's gone a bit quiet. We have finally accepted the offer this morning and are waiting for the couples new MIP i believe as the one they had has just ran out.

We did have our last viewing this morning who said they would let us know within the hour if they wanted to put an offer in also. This is a couple that originally viewed the property in December right before Christmas and have come back around now we have put the price down.

So either way we will be selling to someone haha! I am so relieved but i'm not going to dance until i sign on the dotted line! It's a huge loss of money but what's an £8k loss for my freedom back so i can start again?! Worth it!

ReadingTim

Hb92 said:

So either way we will be selling to someone haha! I am so relieved but i'm not going to dance until i sign on the dotted line! It's a huge loss of money but what's an £8k loss for my freedom back so i can start again?! Worth it!

Sometimes that's just the way you have to look at it - there are some things which cannot be measured in pounds and pence.  The problem with having too much of a moneysaving mentality is that you can know the price of everything, and the value of nothing.  There is nothing to be gained by being the richest person in the graveyard.  

blueskies1985

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

Not if the feedback is that it’s overpriced. 

Sometimes the photos look better then the reality, or they hope that a lower offer will be accepted. 

The fact is the house was probably only ever worth £150k in today’s market. House prices have come down and lots of people who bought in recent years and resold have made a loss. 

RHemmings

blueskies1985 said:

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

Not if the feedback is that it’s overpriced. 

Sometimes the photos look better then the reality, or they hope that a lower offer will be accepted. 

The fact is the house was probably only ever worth £150k in today’s market. House prices have come down and lots of people who bought in recent years and resold have made a loss. 

At the time I wrote that there were viewings that were still to occur. 

ReadySteadyPop

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

The viewings are the result of cutting the price, the house was not getting interest before the price cut, that is why dropping the price is always the best and least stressful route to a sale.

ReadySteadyPop

Herzlos said:

To be fair, "cutting the price" is pretty much his advice for anything. Terrible advice but he's still here regardless.

Advice that brings a flurry of viewings to a house that has been sitting unsold for six months is terrible advice?

ReadySteadyPop

RHemmings said:

blueskies1985 said:

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

Not if the feedback is that it’s overpriced. 

Sometimes the photos look better then the reality, or they hope that a lower offer will be accepted. 

The fact is the house was probably only ever worth £150k in today’s market. House prices have come down and lots of people who bought in recent years and resold have made a loss. 

At the time I wrote that there were viewings that were still to occur. 

I think the general feedback was that the house was overpriced, your advice to keep doing what didn`t work isn`t good advice IMO.

RHemmings

ReadySteadyPop said:

RHemmings said:

blueskies1985 said:

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

Not if the feedback is that it’s overpriced. 

Sometimes the photos look better then the reality, or they hope that a lower offer will be accepted. 

The fact is the house was probably only ever worth £150k in today’s market. House prices have come down and lots of people who bought in recent years and resold have made a loss. 

At the time I wrote that there were viewings that were still to occur. 

I think the general feedback was that the house was overpriced, your advice to keep doing what didn`t work isn`t good advice IMO.

Until the viewings have happened, it's unknown whether what was being done will work or not. Dropping the price when there are viewings booked in which haven't happened yet is a strange thing to do. 

pinkshoes

Hb92 said:

After cutting the price to £155k we had about 12 viewings and only one offer. At first it was £145k, then £150k and now £152k. We have no more viewings booked and it's gone a bit quiet. We have finally accepted the offer this morning and are waiting for the couples new MIP i believe as the one they had has just ran out.

We did have our last viewing this morning who said they would let us know within the hour if they wanted to put an offer in also. This is a couple that originally viewed the property in December right before Christmas and have come back around now we have put the price down.

So either way we will be selling to someone haha! I am so relieved but i'm not going to dance until i sign on the dotted line! It's a huge loss of money but what's an £8k loss for my freedom back so i can start again?! Worth it!

It's a small price to pay for freedom!

I bought a flat with my ex, and in the 5 years we owned it, a price drop happened, so it was worth £10k less that we paid for it. 

My ex initially refused to accept less than what we paid, but I pointed out that if we had been renting in Oxford, the rent would have been WAY more than the interest on the mortgage, so we probably saved over £10k in the 5 years, and therefore technically it's not a loss, plus he can get rid of being stuck linked to me!

Hope the sale goes smoothly!