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Would you give me some advice re selling?

(9 Posts)
TheOldBoot Wed 26-Nov-14 12:05:16

We are trying to sell the house in a flat market (north) and need to get it moving.

We had three valuations all in the same ballpark and we went with the lowest. Six weeks later, not having had any interest we reduced it (25k) to bring it under 500k stamp duty threshold. This resulted in a viewing. The feedback was very positive. Lovely house, immaculate etc. just not the one for them. It is the cheapest of it's kind in the area.

The house is lovely, in a great location on the edge of a village, 216sqm and with land. The local schools and amenities are good, great access to motorway network and 25mins from a mainline train station so 2ish hours from Kings Cross. We are within a reasonable commute of four cities. We have been here quite a while and are selling to downsize.

So how do I attract a buyer?

We have scope to reduce the price but do we do that now or wait until spring? Do we offer to pay stamp duty? Is there anything else we can do?

Having bought our next property it would be great if we could get this one moving sooner rather than later, wwyd?

specialsubject Wed 26-Nov-14 12:50:00

I'd take their feedback at face value. Going below the 500k threshold was a good move, but you are basically an expensive house in an area where your pool of buyers will be smaller.

leave it for now, expect nothing to happen until spring and then reduce. Work on getting less than the asking price, and tell your agents to say 'motivated seller' which hints at that.

holeinmyheart Wed 26-Nov-14 12:51:01

Mmmm I have just sold one in a week. Could be luck. I sold it privately on Gumtree. I had hordes of pictures, de cluttered, neutralised all colour schemes and dressed every room.
I looked at every house in the vicinity around the same price and priced it accordingly.
Buyers are generally nice to your face but maybe you could do with the bald truth. Two of my friends tried to sell very expensive houses recently. They were spotless inside, good kerb appeal but the decor was all over the place. They did not coordinate the colours etc.
Look at a few show houses. The whole house is colour coordinated. In the present market you need the Wow factor.
If you look at show houses they give you up to date ideas about what are current Home decor fashion.
I did overhaul the main rooms and when I showed people around I started and ended in the most WOWEE room.
I had diffusers everywhere and had the gas fire going and every lamp in every room on.
Anyway I had two offers so it worked for me. If you want to give me the link privately I can tell you what I think as my background is creative/ property etc.

bilbodog Wed 26-Nov-14 17:53:37

you sound as if you have been very sensible. I assume it is appearing on the main websites i.e. Rightmove and Zoopla? Assuming it is then I think you might just have to wait until the new year. This close to Christmas the market goes very quiet - but I would leave it showing on the websites as a lot of people look over the Christmas and New Year periods and you might find you get a flurry of activity in the New Year. Good luck

LizzieMint Wed 26-Nov-14 18:54:41

We're in exactly the same position OP, similar price bracket but in the SW. Nothing's happening. We're also in the process of buying anyway so could really do with some movement! hole, would you mind taking a look at mine too and seeing if you have any hints/tips? I'd be very grateful !

Quitelikely Wed 26-Nov-14 18:57:44

I would put it on for what it is worth then offer to pay the stamp duty.

holeinmyheart Thu 27-Nov-14 07:36:25

This close to Christmas the property market does go quiet. The best times to sell a house is in the Spring and in the Autumn. The Spring, because people have got over Christmas and begin a ' new chapter' so to speak and the Autumn sellers have spent the warm months getting their house ready for the market. Buyers go on holiday as well.
You need to get the price right otherwise no one will come through the door. Also beware an Estate Agent coming through the door and giving you an exaggerated inflated valuation. They need your house and can say anything. They are in competition with the others to get your house and it is fierce competition.
I would go with a On line Estate Agency. They all put them on Rightmove etc. But don't expect too much as they are all as bad as one another.
If not online then look for an agent that is open on Sundays, does not tie you into a long contract ( so that you can dump them if dissatisfied) no sale no fee is vital. READ THE SMALL print. The commission they charge you can only be negotiated ONCE and that is before they sign you up. Ask for them to pay for the EPC. Also look for one that states that if You find a private buyer you don't have to pay them. You can then advertise it yourself on Gumtree. I am amazed by buyers looking on Gumtree, but they do.
Also check their photos. Some Agents photos are abysmal. Photos are vital as they attract buyers.
I will look at anyones house if they send me a link. You can use the private messaging link.

holeinmyheart Thu 27-Nov-14 07:44:38

Forgot to say. Don't ever tell anyone that you need to sell desperately. An Estate agents first loyalty is to them selves. If they tell a prospective buyer that you are desperate to sell ( and they well might do) the buyer will offer less. In fact the less personal details you tell an. EA the better really.
Remember the only person you can trust is YOU. Sorry to be so cynical but it comes because of association with Estate Agents.
I always advise saying, ' we want to sell but we can wait for a suitable price' Don't appear desperate.

TheOldBoot Thu 27-Nov-14 12:12:46

Thank you all for your replies!

With regard to the value we are pragmatic about it and know that it's only worth what someone else is willing to pay. The difficulty is pitching it at the right price to draw in buyers but to allow for negotiations, it's an old house and the survey will throw something up no doubt.

It was valued in 2009 by a surveyor for a business transaction. The valuation was for it to be sold quickly in a difficult market and was 40k less than it's advertised at now. I have checked sold prices in this area and some properties have increased in value since 2009 and some decreased so no general trend, argh!

Hole your advice is excellent and I share your cynical view on estate agents! I had my fingers burned once several years ago which taught me a very valuable lesson. Thanks for your offer to look at the listing, I'll pm the details.

Lizzie It's a rubbish situation to be in isn't it? Fingers crossed the market picks up in the new year and we both get to move on, good luck!

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