Hi everyone,
I posted a thread a few months ago about my struggles to sell. It took 5 months of viewings and flaky offers to get a proper offer 10k under asking for the buyer to pull out a month later. In that time we found our ideal house in a great location and had an offer accepted on that. It was sheer luck the house was due to come back on the market - it's one we viewed many months before when we had another buyer.
Anyway, the vendors of the new house have kindly given us time to find a buyer and with no set time limit. I'm sure if we take too long though they'll start getting frustrated, and I don't blame them!
House is back on the market as of last week for 20k under the last price. We've had one viewing and no other enquires. For context my partner bought the house in 2022 south west London at the absolute peak and I'm sure overpaid for it. We're on the market for offers over 580k (yes I know offers over is a mistake). House next door sold for 600 middle of last year and another on the road is on for 600 currently. I don't believe we're far off the mark but it's only worth what someone will pay!
To keep the current house we're trying to buy and to speed things along estate agent thinks we should reduce to 570...or something similar. My partner is so hesitant to do this as she's got a figure in her head and sees it as losing money. I've offered to make up for the loss in the next house and pay the difference. I've also pointed out if we were to take say 20k less it's not a life changing amount. We're very lucky that we have a large deposit and even with this loss we'd both be able to work part time in a better area and in a house with so much more space. I'm not really sure what else to do. It feels like at this rate we will be hanging on another 6 months for a buyer and who knows what prices will do! We've also already spent a few thousand on solicitor fees and a survey so that currently feels like money down the drain.
Has anyone had a similar experience?