Would this put you off viewing a house?

[onehundredthousandmiles]

Seen a house I like on rightmove an thought I’ll ring on Monday and get a viewing.

I looked at it previous sold price .. it was last sold in 2023 and they are now selling at a loss of £105K.

Would this just instantly put you off?

I’d go and look and try and ascertain if it was a divorce or estate sale.

But that would not explain a loss

Yes it would. Market is worse they shouldn’t be selling if they just bought it but they have to due to hideous relationship break down

Potentially. I certainly would want to know why. If it was purchased pre-2022 then interest rates may be the issue but purchasing in 2023 not so much but could be a reason.

Did they over pay then or are they selling under market value now? The latter would worry me more? Why are they desperate for a quick sale?

Why would it put you off viewing? You don't have a clue yet what the circumstances are yet

It would not but I would want to know why.

It would depend on the price of the house. If it was sold for £1.5m two years ago, that wouldn’t be unusual in some of the areas we were looking at recently and it wouldn’t put me off at all. But if it was a much cheaper house, then a significant drop would concern me enough to ask a lot of questions .

The house we are in now sold at a loss, it was a couple getting divorced and I think they just wanted closure!

Prices have dropped we bought our current house for 300,000 less than it was bought 2 years ago, we are selling our London flat for the same we paid for it 12 years ago

Well I sold my old house to my daughter and it was part of a much larger deal involving my late mums estate. If you look at the sale price you would think I sold it at a loss vs its 2006 purchase price! I didn’t lose, I just got more of other assets.
has it been on the market before? Could there have been an issue like subsidence?
I would just ask. There may be a reasonable explanation.

If you like, view it. You can ask why then.

Could be that it has been repossessed and the mortgage company selling to re coup losses?

Agree with all this.

Can you share the link to the listing @onehundredthousandmiles ?

Prices have dropped. Take the bargain.

um that’s different,

op what’s the sale price?

May have just been overpriced last time or a quick sale this time. House prices go up and down monthly so could just be because this year is awful for prices!

In 2022-2023 the housing market was on a high. My house was worth 90K more then. If someone bought at that time and now can't afford their mortgage now their deal has ended they are screwed, not option but to sell at a loss.

What's the value of the house?

We bought a house for 150k cheaper than it last sold in 2021 - no, not a million pound house, not even close! (the gentleman passed away as reason for sale this year). But it needs a lot of work, some we were aware of, some very expensive work we were not, sadly. I think he bought it when everyone was running to the countryside during the lockdowns and prices shot up in value.

Yeah, I would worry about the decrease in price. A little, yes, that's the market but not as much as yours unless it's a couple million quid property! You could ask the EA, see if he/she knows, if they'd tell you the truth. Ha!

Its all relative - depends on the price, if its 1.5million or 200k. Ask the agent.

1.2 million dropping to 1.1? Probably sugn of market wanting quick sale
Or 300k dropping to 200k?
Depends location price etc

Wouldn’t put me off viewing no. Always worth viewing, it’s not a commitment to buy.

Could be a quick home-buying company selling it. Our house was sold by the previous owner at a big loss to a home buying company as the owner needed to move quickly to be near family. So we got it for less than market value when we bought it a few months later.