House not selling

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Ok, say the new price is 150k, what in your opinion is a "cheeky" offer?

That's not for me to say. My point was that if the problem was the price they'd either get no viewings or viewings followed by offers under asking price. That doesn't seem to be happening so I'm saying that your tedious mantra of "price is too high" isn't the problem here.

The OP said a couple of posts ago; "We are desperate to sell which is why we have now lowered it down to £155k. But we then have the problem of people offering way below this figure and we have to explain it is already heavily reduced "

Hb92

We had the house valued before it went on the market and it was valued at £175k so we have now reduced it down to £155k. We only had the 2 offers which where £152k which we accepted both times but then lost both buyers within a week. Our mortgage is currently at £158k owing but we already are aware we will be in debt and have resigned ourselves to that fact.

Our house is quite unique for it's size as most properties within the area do not have driveways (mine is a double) and also most do not even have a front garden. Mine is also an end terrace so we have no neighbours either side of the house but do have neighbours attached the the back of the house and the back garden is actually at the side of the house which is what drew me to the property originally. It is a great small starter home for a couple rather than a family I would say. We do have the spare rooms with sloped ceiling on one side however we have had bedroom furniture in there including wardrobes so there is plenty of space. 

The sun was shining yesterday so we had new photos taken of the front and back gardens and driveway and of course the 2 spare rooms. The EA agreed that painting them was a good choice as it has made them a bit brighter now. The photos are great quality and i made sure there was no clutter when the photos where taken and it was as empty as i could possibly make it. My ex had put some boxes of his stuff along one wall of my spare bedroom which i have now removed so the room is completely empty so people can now see the actual size.

I have a viewing today at 5.30pm which i am doing myself so i'm hoping that goes well. As i say getting viewings has never been a problem (even when it was priced at £175k) it's getting the offers to stick that we seem to have a problem with at the moment. 

At the moment mortgage rates are still high, i am forced to be on a variable rate myself which is at 6.02% so i think this may also be putting FTB off. It will have been on the Market for 9 months in April (we had it up in July - Nov with an awful EA before switching and that is who we are currently with) but some other houses in the area have been up for a year or more so i do feel better knowing that it isn't just my property that seems to be stuck at the moment.

Hb92

Scotbot said:

Hb92 said:

The problem that we have is that all of the EA agreed on the value price which was £175k. When we bought the house for £170k in 2023 the bank agreed the value was correct.

We are desperate to sell which is why we have now lowered it down to £155k. But we then have the problem of people offering way below this figure and we have to explain it is already heavily reduced which doesn't seem to help much. We've had a few more viewings but not from anyone that is what i would call a 'serious' buyer. We have a viewing tomorrow night which i will be doing myself so we'll see how that goes.

The EA are taking new photos today of the newly painted rooms and my ex partner has done some work on the garden now the weather is starting to get a bit nicer so we'll see how it all goes from here. At this point I am already so in debt that i would take any offer at this point.

I don't know where you are but in my area (West Midlands)  prices for my type of property have dropped 4% in the last year and 10% since 2022. For a  £170 house that would make it worth  £153

.Both Rightmove and Zoopla will tell you how much the market has changed in the last year and estimate the value of your house based on market changes. If it is a standard estate type house these values are pretty accurate. In rightmove go to house prices, find your house and use the "track property " function 

Hi, thanks for the tip. I did this on rightmove and it values the house at £173k and that house prices have gone up 1.8% since i bought it for £170k in Feb 2023. So the EA valuation at £175k was pretty accurate it looks like

Hb92

Herzlos said:

Hb92 said:

The problem that we have is that all of the EA agreed on the value price which was £175k. When we bought the house for £170k in 2023 the bank agreed the value was correct.

We are desperate to sell which is why we have now lowered it down to £155k. But we then have the problem of people offering way below this figure and we have to explain it is already heavily reduced which doesn't seem to help much. We've had a few more viewings but not from anyone that is what i would call a 'serious' buyer. We have a viewing tomorrow night which i will be doing myself so we'll see how that goes.

The EA are taking new photos today of the newly painted rooms and my ex partner has done some work on the garden now the weather is starting to get a bit nicer so we'll see how it all goes from here. At this point I am already so in debt that i would take any offer at this point.

The new photos with the updated property will hopefully make a big difference. I think a large part of the problem is the poor existing pictures and possibly clutter making rooms feel smaller than they are.

Are you getting many offers below the asking of £155k or just silence after viewings? Is there a figure you have in mind or need to get?

We are getting feedback after viewings, usually that say the kitchen needs too much work and it wasn't in their budget (not much i can do about that) or that they are still looking at other properties. Other than that the feedback has been positive with people saying they did like the property. A few viewings have been time wasters with FTB saying they've only just started looking and want to wait for other properties to come on the market. I think at this point i just have to be patient and wait for that person that loves it as much as i do. I would have kept it myself if i could afford to buy my ex out and could afford it on my own but sadly that isn't possible. 

We've only had 2 offers both at £152k which we were happy to accept. 

ReadySteadyPop

Hb92 said:

We had the house valued before it went on the market and it was valued at £175k so we have now reduced it down to £155k. We only had the 2 offers which where £152k which we accepted both times but then lost both buyers within a week. Our mortgage is currently at £158k owing but we already are aware we will be in debt and have resigned ourselves to that fact.

Our house is quite unique for it's size as most properties within the area do not have driveways (mine is a double) and also most do not even have a front garden. Mine is also an end terrace so we have no neighbours either side of the house but do have neighbours attached the the back of the house and the back garden is actually at the side of the house which is what drew me to the property originally. It is a great small starter home for a couple rather than a family I would say. We do have the spare rooms with sloped ceiling on one side however we have had bedroom furniture in there including wardrobes so there is plenty of space. 

The sun was shining yesterday so we had new photos taken of the front and back gardens and driveway and of course the 2 spare rooms. The EA agreed that painting them was a good choice as it has made them a bit brighter now. The photos are great quality and i made sure there was no clutter when the photos where taken and it was as empty as i could possibly make it. My ex had put some boxes of his stuff along one wall of my spare bedroom which i have now removed so the room is completely empty so people can now see the actual size.

I have a viewing today at 5.30pm which i am doing myself so i'm hoping that goes well. As i say getting viewings has never been a problem (even when it was priced at £175k) it's getting the offers to stick that we seem to have a problem with at the moment. 

At the moment mortgage rates are still high, i am forced to be on a variable rate myself which is at 6.02% so i think this may also be putting FTB off. It will have been on the Market for 9 months in April (we had it up in July - Nov with an awful EA before switching and that is who we are currently with) but some other houses in the area have been up for a year or more so i do feel better knowing that it isn't just my property that seems to be stuck at the moment.

I though you said you had offers well below 155k at one point? Not what you want to hear but mortgage rates are still low in historical terms, good luck for today though.

ReadySteadyPop

Hb92 said:

Herzlos said:

Hb92 said:

The problem that we have is that all of the EA agreed on the value price which was £175k. When we bought the house for £170k in 2023 the bank agreed the value was correct.

We are desperate to sell which is why we have now lowered it down to £155k. But we then have the problem of people offering way below this figure and we have to explain it is already heavily reduced which doesn't seem to help much. We've had a few more viewings but not from anyone that is what i would call a 'serious' buyer. We have a viewing tomorrow night which i will be doing myself so we'll see how that goes.

The EA are taking new photos today of the newly painted rooms and my ex partner has done some work on the garden now the weather is starting to get a bit nicer so we'll see how it all goes from here. At this point I am already so in debt that i would take any offer at this point.

The new photos with the updated property will hopefully make a big difference. I think a large part of the problem is the poor existing pictures and possibly clutter making rooms feel smaller than they are.

Are you getting many offers below the asking of £155k or just silence after viewings? Is there a figure you have in mind or need to get?

We are getting feedback after viewings, usually that say the kitchen needs too much work and it wasn't in their budget (not much i can do about that) or that they are still looking at other properties. Other than that the feedback has been positive with people saying they did like the property. A few viewings have been time wasters with FTB saying they've only just started looking and want to wait for other properties to come on the market. I think at this point i just have to be patient and wait for that person that loves it as much as i do. I would have kept it myself if i could afford to buy my ex out and could afford it on my own but sadly that isn't possible. 

We've only had 2 offers both at £152k which we were happy to accept. 

How did the latest viewing go?

Hb92

ReadySteadyPop said:

Hb92 said:

Herzlos said:

Hb92 said:

The problem that we have is that all of the EA agreed on the value price which was £175k. When we bought the house for £170k in 2023 the bank agreed the value was correct.

We are desperate to sell which is why we have now lowered it down to £155k. But we then have the problem of people offering way below this figure and we have to explain it is already heavily reduced which doesn't seem to help much. We've had a few more viewings but not from anyone that is what i would call a 'serious' buyer. We have a viewing tomorrow night which i will be doing myself so we'll see how that goes.

The EA are taking new photos today of the newly painted rooms and my ex partner has done some work on the garden now the weather is starting to get a bit nicer so we'll see how it all goes from here. At this point I am already so in debt that i would take any offer at this point.

The new photos with the updated property will hopefully make a big difference. I think a large part of the problem is the poor existing pictures and possibly clutter making rooms feel smaller than they are.

Are you getting many offers below the asking of £155k or just silence after viewings? Is there a figure you have in mind or need to get?

We are getting feedback after viewings, usually that say the kitchen needs too much work and it wasn't in their budget (not much i can do about that) or that they are still looking at other properties. Other than that the feedback has been positive with people saying they did like the property. A few viewings have been time wasters with FTB saying they've only just started looking and want to wait for other properties to come on the market. I think at this point i just have to be patient and wait for that person that loves it as much as i do. I would have kept it myself if i could afford to buy my ex out and could afford it on my own but sadly that isn't possible. 

We've only had 2 offers both at £152k which we were happy to accept. 

How did the latest viewing go?

It seemed to go well, they looked around for half an hour. I did tell them to pass feedbsck to the EA but i haven't heard back yet. I had another one yesterday aswell at 4.30pm so hopefully i'll get some feedback from those todat all being well

RelievedSheff

Hb92 said:

ReadySteadyPop said:

Hb92 said:

Herzlos said:

Hb92 said:

The problem that we have is that all of the EA agreed on the value price which was £175k. When we bought the house for £170k in 2023 the bank agreed the value was correct.

We are desperate to sell which is why we have now lowered it down to £155k. But we then have the problem of people offering way below this figure and we have to explain it is already heavily reduced which doesn't seem to help much. We've had a few more viewings but not from anyone that is what i would call a 'serious' buyer. We have a viewing tomorrow night which i will be doing myself so we'll see how that goes.

The EA are taking new photos today of the newly painted rooms and my ex partner has done some work on the garden now the weather is starting to get a bit nicer so we'll see how it all goes from here. At this point I am already so in debt that i would take any offer at this point.

The new photos with the updated property will hopefully make a big difference. I think a large part of the problem is the poor existing pictures and possibly clutter making rooms feel smaller than they are.

Are you getting many offers below the asking of £155k or just silence after viewings? Is there a figure you have in mind or need to get?

We are getting feedback after viewings, usually that say the kitchen needs too much work and it wasn't in their budget (not much i can do about that) or that they are still looking at other properties. Other than that the feedback has been positive with people saying they did like the property. A few viewings have been time wasters with FTB saying they've only just started looking and want to wait for other properties to come on the market. I think at this point i just have to be patient and wait for that person that loves it as much as i do. I would have kept it myself if i could afford to buy my ex out and could afford it on my own but sadly that isn't possible. 

We've only had 2 offers both at £152k which we were happy to accept. 

How did the latest viewing go?

It seemed to go well, they looked around for half an hour. I did tell them to pass feedbsck to the EA but i haven't heard back yet. I had another one yesterday aswell at 4.30pm so hopefully i'll get some feedback from those todat all being well

The viewings are still coming so you are in the right ball park you just need the right person through the door.

Hopefully won't be long for you now.

ReadySteadyPop

Hb92 said:

ReadySteadyPop said:

Hb92 said:

Herzlos said:

Hb92 said:

The problem that we have is that all of the EA agreed on the value price which was £175k. When we bought the house for £170k in 2023 the bank agreed the value was correct.

We are desperate to sell which is why we have now lowered it down to £155k. But we then have the problem of people offering way below this figure and we have to explain it is already heavily reduced which doesn't seem to help much. We've had a few more viewings but not from anyone that is what i would call a 'serious' buyer. We have a viewing tomorrow night which i will be doing myself so we'll see how that goes.

The EA are taking new photos today of the newly painted rooms and my ex partner has done some work on the garden now the weather is starting to get a bit nicer so we'll see how it all goes from here. At this point I am already so in debt that i would take any offer at this point.

The new photos with the updated property will hopefully make a big difference. I think a large part of the problem is the poor existing pictures and possibly clutter making rooms feel smaller than they are.

Are you getting many offers below the asking of £155k or just silence after viewings? Is there a figure you have in mind or need to get?

We are getting feedback after viewings, usually that say the kitchen needs too much work and it wasn't in their budget (not much i can do about that) or that they are still looking at other properties. Other than that the feedback has been positive with people saying they did like the property. A few viewings have been time wasters with FTB saying they've only just started looking and want to wait for other properties to come on the market. I think at this point i just have to be patient and wait for that person that loves it as much as i do. I would have kept it myself if i could afford to buy my ex out and could afford it on my own but sadly that isn't possible. 

We've only had 2 offers both at £152k which we were happy to accept. 

How did the latest viewing go?

It seemed to go well, they looked around for half an hour. I did tell them to pass feedbsck to the EA but i haven't heard back yet. I had another one yesterday aswell at 4.30pm so hopefully i'll get some feedback from those todat all being well

That must be a good sign?

Hb92

So still no offers yet i had someone look around on Saturday for 40 minutes and indicated she would be in touch with a figure and the EA just called and said she decided it needed too much work. Still no word from the Wednesday night half an hour viewing. The EA did do a viewing on Thursday and apparently she is just waiting for her MIP to send to the EA and has indicated to them that she may make an offer so fingers crossed. No other viewings booked now until Saturday so far.