House sale advice needed please

[boobooyou]

Our property has been on market for 3 months. Lots of viewings no offers but nothing negative either. We have seen a property we like which has been on market for 8 months, previously sold for 295,000 but fell through, currently on for £330,000. The couple want to sell as they have found a property they like so the owners of that property may put an offer on ours.

There are another 5 houses very similar in the area with either smaller gardens, older kitchen etc but ranging from £269,000 to £299,000

Question is has none done this and what are the pitfalls? What do you think old be a fair offer to make on house we will like if this happens.

Thanks

[ClareMarriott]

First of all, if you have had no offers on your own house ( and you have'nt said what you are selling ) what is the actual feedback from your estate agents ? Do you think it is time to have another set of pictures taken and can anything in the house be revamped or are there already neutral colours ? With regards the house you have seen and liked, what is the reason for the vendor increasing the asking price to £330k when a sale fell through at £295k ? Has it been redecorated or something else ? You say there "may put an offer on ours " but it's yet to happen.

If you are adamant in still trying for the £330k house, I would suggest putting in an offer of between £280/ 290k because your alternatives are the other houses at £269k - £299k ( £330k - £269k = £61k ) And remember talk to your estate agent and/or solicitors before doing anything don't just take my advise good luck Clare

[boobooyou]

Thanks for coming back with your thoughs Clare. When I say no negatives there has been feed back such as garden too small, wanted to live in other local towns, no about to raise mortgage etc. house very neutral.

The house we like haven't raised there's he offer was accepted at 295k. They have put in a new kitchen and redecorated through out.

There vendors are happy to buy ours but no figures discussed as yet.

[scurryfunge]

I would still offer around the same price they previously accepted. The new kitchen won't add value but it helps sell.

[boobooyou]

Thank you. Sorry about the garbled typing

[pchip]

How does a new kitchen not as value . If they had an offer accepted, it fell through and they've ploughed more money into renovating it, then if course they won't accept an offer at the old unrenovated price. Sounds like the house was priced reasonably but the potential buyers didn't want the hassle of renovating and the sellers we advised it would sell better if they did he work and repriced it accordingly.

[pchip]

Excuse my fat finger iPhone typos please

[scurryfunge]

A new kitchen attracts buyers and helps sell but the cost cannot be added to the selling price unfortunately. It just doesnt add to the value of a house.

[boobooyou]

Although its lovely kitchen it's not a kitchen I would necessary choose. Just found out 295 was with new kitchen. They did the kitchen to attract people as couldn't sell it before hand.

[ClareMarriott]

so why are they asking £330k for it now ?

[boobooyou]

On the market for £330k and has been all along, accepted previous offer of £295k which fell through. Sorry i am not making things particulary clear my mind is all over the place.

[pchip]

scurryfunge- what makes you think this? Countless tv shows - like homes under hammer and renovation game which basically show the opposite - aside?