Selling - 1 Viewing in 2 weeks

gazfocus · 11 July 2017 at 3:13PM

We had a buyer for our house (found privately), but their circumstances changed part way through the process, so we have had to put the house up for sale - this time with an estate agents.

The house has been on the market now for 2 weeks and so far we've only had 1 viewing. The house is a shared ownership 3 bed semi with a large recent conservatory and the price is in line with other shared ownership properties that have sold recently so just wondered if anyone could give any feedback on why it may not be getting more interest (other than it being shared ownership).

We do have the option of selling the house as a 100% outright sale, which I have mentioned to the estate agents but so far they've not responded to the suggestion.

Rightmove Link: http://www.rightmove.co.uk/property-for-sale/property-67265630.html

spadoosh · 11 July 2017 at 3:49PM

Im ignorant on shared ownership so that in itself would be a biggish barrier for me to booking a viewing.

Firstly, the house itself is fine. You can tell its lived in so there isnt that much in the way of show home photos. The garden is a bit weedy looking but probably too much a pita to sort. Just little things like the washing basket and the loose wiring from the tv etc. General stuff in the conservatory.

Im in penwortham in a 3 bed semi and somewhat conservatively value it at £120k in my head. For that i get a lot more garden space but i dont get the newer build nor the conservatory. Chorley seems to me to be a bit cheaper than preston so id say it was a touch over priced.

The local market is full of similar houses. So buyers have plenty to choose from. Dont think its ever been an area where properties sell really quick, i think its just a case of patience with the price your asking.

fairy_lights · 11 July 2017 at 4:03PM

The photos aren't great - I can clearly see what the arms of your sofas and that one particular segment of kitchen worktop look like, but I can't tell how spacious the house is or get any idea of the layout - where's the floorplan?
Is there room for a dining space anywhere?
Garden could do with a good weeding session.

Ragtimeplayer · 11 July 2017 at 4:33PM

It looks like a really nice house and very cheaply priced. have you had a look at what others have sold for recently in your area?

Cakeguts · 11 July 2017 at 5:00PM

I think it is quite expensive for 50% share leasehold house. You can buy a 3 bed house non leasehold 100% for less than £140k in Chorley.

teddysmum · 11 July 2017 at 5:09PM

Quite simply: shared ownership has limited appeal. Also, the price of £75000 looks very appealing until you read on and find it's shared ownership. (My son was drawn in, then disappointed by such an EA ad some years ago)
The conservatory looks like a dumping ground and a simple bottle of lawn weedkiller and a lawnmower would sort the lawn in a couple of days.

gazfocus · 11 July 2017 at 6:49PM

Thanks for the comments so far.

I agree that the biggest stumbling block is it being shared ownership.

With regards to the comments about the price, the previous buyers we had in place had the house valued by their mortgage lender and the valuation came back at £145,000 so £72,000 is about right with the hope of getting around £70,000.

I'm not overly happy with the photos (that the estate agents did) but there are tenants in the house at present (moving out in a couple of weeks) so I'm inclined to wait til they've moved out, get cleaners in then get some brighter photos done.

Cheeky_Monkey · 11 July 2017 at 8:01PM

gazfocus wrote: »

Thanks for the comments so far.

I agree that the biggest stumbling block is it being shared ownership.

With regards to the comments about the price, the previous buyers we had in place had the house valued by their mortgage lender and the valuation came back at £145,000 so £72,000 is about right with the hope of getting around £70,000.

I'm not overly happy with the photos (that the estate agents did) but there are tenants in the house at present (moving out in a couple of weeks) so I'm inclined to wait til they've moved out, get cleaners in then get some brighter photos done.

IMO, there's your problem right there

Dreysha · 11 July 2017 at 8:09PM

Gazfocus, you are trying to sell a shared ownership property yet you've been subletting!? Are you aware you are in breech of your lease?! Shared owners are not permitted to sublet so you shouldn't have any tenants living there. Perhaps the Housing Association should be made aware of this situation...

gazfocus · 11 July 2017 at 9:20PM

I disagree that the fact there's tenants in the house is the issue, as no-one would be able to tell that from a Rightmove listing?

@Dreysha - for your information, the house is being sublet WITH the housing association AND the mortgage lenders permission (the mortgage lenders permission is granted on the condition of written permission from the housing association) so thanks for your concern but please don't make assumptions that I'm not sensible enough to seek permission before risking my house! I also find it amusing that you felt the need to sign up to a forum simply to accuse me of breaching my lease.

Crashy_Time · 11 July 2017 at 9:32PM

Shared ownership works when a property bubble is strong and contagious, people think they have to get a piece of the action or lose out, when that bubble starts to pop it looks like the worst plan on earth (because it is)

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Selling - 1 Viewing in 2 weeks

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