Page 3 | In the depths of despair over house move

HeIsNotTheSun · 2020-10-12T17:31:31+00:00

Our house has been on the market for two months now. Tonnes of viewers but no one seems to want it and I don’t get it. It’s on at offers over home report value which is standard. It’s bright and clean and decorated to a high standard. It has a lovely garden. Sought after area, really good schools. No urgent repairs etc needing done, we have looked after it. Houses in surrounding streets are all selling fine but ours is just going nowhere and I don’t get it. The feedback is always “beautiful house, a bit smaller than we wanted” or “lovely house, lovely and bright but not quite what we are looking for”. Nothing concrete. I mean it’s not massive but you wouldn’t expect it to be for the price (and the schedule is quite clear). I just can’t hack it any more. I want to take it down and just forget it but our kids are getting bigger and we want to move on. We need more space. I just don’t know what to do. I don’t understand it.

Veterinari · 12/10/2020 20:44

Are you in Scotland @HeIsNotTheSun ?

It'll make a difference to the advice people give

IndecentFeminist · 12/10/2020 20:47

Ah, that may make a difference.

Saz12 · 12/10/2020 20:49

Don’t get disheartened. Neighbours will gossip because they’re worried their own homes won’t be as saleable as they think!

Small garden - can you make it more appealing, eg if it’s a family home then add things parents want their kids to like (eg tiny veg patch (strawberry plants, a dwarf fruit tree, swingball set - something that suggests kids are outside playing all the time but that doesn’t take up any space).

Saz12 · 12/10/2020 21:11

The surveyor valuation of properties we’ve looked at has stated it’s “subject to material uncertainty”, due to Covid. Also, if yours is a one-off (rather than basically same as others that have sold in last couple years) valuation is really difficult.

I’d wait for another month, with a view to either drop price or go “fixed price” at, or just below, the survey value. Is the LB tax a factor?

S00LA · 12/10/2020 22:07

The Op is right, I’d say it’s normal to expect an offer at around home report value in Scotland .

Were there any issues flagged up in your HR OP?

Original poster

HeIsNotTheSun · 12/10/2020 23:08

No nothing unexpected. Mainly 1s. A few 2s but nothing substantial

OP posts:

Fridgeandkitchen · 12/10/2020 23:17

The Scottish system is different so many posters need to take that into account.

OP, I am a Scottish agent. If you want to, feel free to pm me a link. I’ll give you my honest opinion.

Who did your home report? Does it have a mortgage valuation as part of the pack?

S00LA · 13/10/2020 00:31

A few 2s is normal IME .

So it’s the price.

BashfulClam · 13/10/2020 11:41

In Scotland the system is offers only but we have always put the price £5k - £10k below the market value with offers over. For example the home report says £225k we then ask for offers over £215k or £220k, after all people are not going to pay more than the property is worth in reality. I think it’s priced incorrectly as you are asking for more than your home is actually worth and if I got the home report from the estate agent (the seller pays for this in Scotland) I’d not bother. Take it down £5k as it is expected in Scotland that you pay £5-10k over the stated price.

Bluntness100 · 13/10/2020 12:29

@BashfulClam

In Scotland the system is offers only but we have always put the price £5k - £10k below the market value with offers over. For example the home report says £225k we then ask for offers over £215k or £220k, after all people are not going to pay more than the property is worth in reality. I think it’s priced incorrectly as you are asking for more than your home is actually worth and if I got the home report from the estate agent (the seller pays for this in Scotland) I’d not bother. Take it down £5k as it is expected in Scotland that you pay £5-10k over the stated price.

That’s interesting I’ve sold two properties in Scotland and I thought this was the process. A quick google says that’s the case. On average I think houses sell for approx 10 percent over the offers over price.

The valuation is what it is expected to sell for, and the offers over price is usually a few grand below, or even more if it’s to stimulate interest and a bidding war. I’m surprised neither the agent or the solicitor informed the op of that.

So if rhe house is valued at 100 k, she should say offers over 90 or 95. By saying offers over 100 she is stating you need to pay more than it’s worth if you want it.

Deathraystare · 13/10/2020 17:52

It could be nosey timewasters too!

user1471538283 · 13/10/2020 18:11

I'm sorry but it will be the price. We live in uncertain times and often people are unrealistic for what they can get for the money. Your house will sell and two months isnt that long. I would try another estate agent, reduce the price and sell it now rather than wait

JoJoSM2 · 13/10/2020 20:42

So downstairs bathroom and small box room will be turn offs but I think you say it’s the same for others in the street. Is the sq footage the same or are their rooms bigger? A large extension at the back for a big family space?

Bergerdog · 13/10/2020 21:06

I feel for you. It took us two agents, 2 years (with a gap inbetween!) and a reduction from £115k to £90k to get rid of ours.
In the end it was better to cut out losses and just sell but as soon as we reduced price it sold straight away so IMO it’s always price.

We also had a downstairs bathroom which put about 50% of viewers off. The recent purchasers of the house converted the upstairs cupboard into a toilet and I think if we had done it we would have sold much quicker if that’s an option?

Krampusasbabysitter · 13/10/2020 21:17

No upstairs loo would be a massive no no for us and probably others too. And it being small. Those are quite big reasons, especially if the price isn't lower than the houses that have an upstairs WC.

NoMoreMrNiceGaius · 13/10/2020 21:34

Im ready to accept that I'm totally clueless, but 2 months seems like absolutely nothing to me?? Definitely not worth the despair yet at least. It took us 5-6 months to sell if I remember correctly and we had to lower the price a few times. Our parents took just as long to sell their huge house without lowering and they barely had any views until it suddenly sold.

You just need to wait for the right buyer, and if you can't wait, you lower the price. It all books down to the price in the end. Different country though, is that not how it works in the UK?

whenwillthemadnessend · 13/10/2020 21:39

When we sold we got constant bedrooms too small feed back so we removed excess furniture and popped it in storage. Sold within two weeks of doing that.

Maybe your house tho clean and tidy and well kept has too much furniture? Clutter ?

FAQs · 13/10/2020 21:52

How is yours different to those who have sold?

I sold my house 8 weeks ago, my neighbour still hasn’t sold theirs.

My decor and garden is much more modern than theirs.

It’s the only difference, they’ve now reduced their price twice. It’s still not selling.

They are also doing their own viewings, my agent did mine, not sure if that has made a difference?

DespairingHomeowner · 13/10/2020 22:51

I’m in same situation, massive price drop wasn’t especially productive (got viewings vs offers)

I think lack of upstairs bathroom is a big issue : could you squeeze an upstairs loo in and do that work quickly?

I realise that if I had renovated mine (new laminate and carpets - maybe 1k) and cheapest possible kitchen (£4K) it would have had so much more appeal: estate agents just wanted it on, and didn’t care about advising to get a good price (or even a sale!)

WaltzingBetty · 14/10/2020 08:48

@BashfulClam

In Scotland the system is offers only but we have always put the price £5k - £10k below the market value with offers over. For example the home report says £225k we then ask for offers over £215k or £220k, after all people are not going to pay more than the property is worth in reality. I think it’s priced incorrectly as you are asking for more than your home is actually worth and if I got the home report from the estate agent (the seller pays for this in Scotland) I’d not bother. Take it down £5k as it is expected in Scotland that you pay £5-10k over the stated price.

It really depends where you are in Scotland. Plenty of flats in Edinburgh sell over the home report value too

Fridgeandkitchen · 14/10/2020 09:40

@BashfulClam

In Scotland the system is offers only but we have always put the price £5k - £10k below the market value with offers over. For example the home report says £225k we then ask for offers over £215k or £220k, after all people are not going to pay more than the property is worth in reality. I think it’s priced incorrectly as you are asking for more than your home is actually worth and if I got the home report from the estate agent (the seller pays for this in Scotland) I’d not bother. Take it down £5k as it is expected in Scotland that you pay £5-10k over the stated price.

This is incorrect I’m afraid. Plenty of property sells for over HR valuation.

We recently sold one at £57k over. Another at £30. A couple at just one or two K over. Some at none and some at less.

Verite1 · 14/10/2020 09:45

Ours took 10 months to sell. I had a baby in the interim! Two prior offers fell through. Final one went through - for the same amount as the first offer.

Icanseewhyichangednyusername · 14/10/2020 10:01

Why would downstairs bathroom put people off? X

BobsyerUncleFannysyerAunt · 14/10/2020 10:30

It's not just the downstairs bathroom that would put me off, it would be the lack of a loo upstairs
Having said that I don't know if this is the norm where you live

TH22 · 14/10/2020 10:33

A house is very rarely unsellable - it's usually just overpriced. A house is only worth what someone is willing to pay.