bidding ...what should I do

dprovan

We have seen a house we love. It is priced at 295k and we feel it is fantastic value compared to others in area. It is run down inside, but nothing that worries us, really just not loved. It is very much the 'worst' house in the best area of our town in the sense that it needs cleaned, decorated etc but nothing massive.

We have just put our own house up for sale and put a bid of 285k on the other house, just to register our interest, we are selling through same agent. Whilst its been on market for 7 months Im worried as the market here (n Ireland) is growing every month so am worried others will soon see it as value also. As we have yet to sell our own house is there any point of trying to aree a price on the one we want as it stands our bid is sitting on it with no feedback, im not sure whether to enquire further raise bid until I have interest in my own....what do others think?

dprovan

probably not the best question in the world ever, I appreciate,,,,, but no views???

meanmachine_2

Only you know what the housing market is like in N Ireland.

In London if you'd have offered more than 95% of the asking price, the vendor would have bitten your arm off.

The fact that it's been on the market for 7 months tells you what exactly?

Sounds to me like you're afflicted by house price mania. Don't worry it'll pass.

If you really think it's worth what you've offered, then that's what it's worth. And definitely chase up the EA if you're that keen on it.

Sounds a very generous offer to me, but we're 12 months ahead of you guys and the market here is dead so it's difficult to give advice.

[Deleted User]

Rule number one - NEVER fall in love with a house when you are not 'proceedable'. It will only end in tears.

If the house is unoccupied and has been on the market a while the vendor may be happy to wait and give you chance to sell yours. But most vendors, whilst accepting an offer, will still keep it on the market in case someone 'proceedable' comes along.

Unfortunately that's the conveyancing merrygoround.

Never show your desperation for a property. Vendors can sometimes see it and play hardball with you - i.e sticking the price up once you have a buyer.

Be a little cautious about a property that is still on the market after 7 months. WHY has it not already sold? Has others around it sold?

I suggest you keep your options open by continuing to look for other places too - that way if this one does go then you have another in mind.

And don't forget to make yours a little show piece! You do wanna sell quickly.

dprovan

thanks for the replys,,,

icecoolbaby you are so right that it is frightening, thanks. I am really hoping the reason people are not going for it is because of the internal condition, it is very 70s and over here it is alot of money. However it is huge, with huge garden in the absolute best area, others around have sold although none are the same (in design) as this.....

here's hoping,
thanks I will try to be a bit cooler about it all

DesG

Where abouts is the house dp?

At that sort of price level I shall assume Belfast, or Lisburn. If it is as good as you say, I can't understand why it is still on the market? Can you call the EA, and ask him why you havn't had any feedback about your offer?

Who is the EA btw? some of them are worse than useless

Cheers, Des. (Lisburn)

dprovan

Hi Des

the house is in Ballymena, the estate agent is regarded as the best in the area, local to Ballymena.

I know it sounds too good to be true I keep saying to myself the same. It hasn't even had an offer never mind not sold in over 6 months!!!!!!

But it is the guts of 300k and it would need new kitchen, carpets, every room painted etc, it is really really dated very 70s........ however it is over 3000sq ft has a massive garden in the best location in Ballymena (I know thats saying something).

A plot of land half its size sold for 160k alone, so by my reckoning the land is nearly worth it alone. However where it is I doubt anyone would get planning permission to wipe it and rebuild if you follow me.....

I have now put my own house up for sale with the same estate agent, so have not phoned for feedback mainly because I thought well they know our position so are probably waiting before something happens at our end before getting too serious... However our house (which unbiased is in spotless condition everything under 2 years old) has been on market a week now and not one viewing. Even though its on property news, got board and board at main road, been in paper and is on estate agents website,,,,so perhaps things are slowing or perhaps it is just still early....

Anyway I already am growing impatient and the whole process has barely warmed up.

DesG

I know nothing about property in Ballymena, so I can't be much help

On the planning permission front, maybe someone is applying for permission, and that could be why nothing is moving?

hehe, one week in, and you are getting worried, don't panic, it will warm up soon enough

Best of luck with it, but if it was me, i would try and get a bit of feedback from the EA about the sellers position on the other house.

Cheers, Des.

dprovan

Hi Des

I took your advice and contacted estate agent (same estate agent we are selling with). They told us our bid was seen as a good start :rotfl: and that the seller was awaiting progress on the sale of our house before progressing with negotiations. She added that the seller had now went for second viewings on houses they were interested in, I presume I was told this to show their excitement :rotfl:

She also told us there had been alot of interest in our house :j however still no viewings people seem to be loosing interest when they hear the price (set by this estate agent and also set by another two I called out). They are now explaining to people why it is so expensive for the area.

We live in a nice area, however it is an estate (as such) and the last house sold for 50k less However we have extended our house and it is over 2000sq FT compared to the other house being approx 15-1600sqft. In addition because of the work we have done it has a new kitchen, bathroom, solid floors,2 en suites etc etc which the other house didn't have but I guess no matter all that it is still alot of money at the end of the day and people are thinking wait a min thats over 50k more that last house that sold........................... So we'll just have to sit tight and wait and see, first goal is to have a viewer :beer:

DesG

Well, everything sounds fine and dandy then on the other house


With regard to your house, it sounds lovely, and I am sure you will get it sold, just maybe not as quick as you had hoped.

I think you need to get people in the door so they can fall in love with the place Then they can worry about the price

Just remember that selling the biggest/most expensive house in a street will always take longer, as there are fewer buyers at that price level.

Best of luck, and if you havn't had any viewers in another week or 2, maybe talk to your EA about options to market without price to get people to see it.

Had a quick look on property news, if your house is the one I think it is, the details are a bit sparse Doesn't have any room dimensions or anything, hardly a great advert.

Cheers, Des.

dprovan

cheers Des

yes that is my house, and yes this was something I noted to, the link to the estate agents website has much more info and room dimensions, pictures etc so I was trying to console myself with this, but I guess not everyone will look or know to look there.

So I will chill and if no progress in next few weeks then I will offer that feedback to estate agent.

Thanks for your comments they somehow help to make me feel calm about it all, I'll tell the wife to come in and post a few remarks to you next time she feels unloved as nobody likes her house. :beer: