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AIBU?

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Original poster

To feel completely deflated

33 replies

Bambamboom · 02/09/2014 10:25

We've been trying to sell our 2 bed flat, of which was valued at 155k 2 years ago, in a nice area of town since January. We've had 3 buyers pull out, our last yesterday just before we exchanged! I'm so angry and jut don't know what to do. We need to move for schooling and have found a house we can afford in a very good catchment area and we are desperately clinging onto it.
I feel really let down by the estate agents, who I'm pretty sure just go through the books and get any tom, dick or Harry to come round and have a look to make it look like we have genuine interest when clearly we don't.
It went on originally at 169k and we accepted an offer of 152k after having the price reduced to 155k fixed price (which I didn't like the idea of, fixed price or not people will always push for money off).
I'm really worried about losing the house now and I'm trying to think of what to do to make the property more desirable.
Would moving into in laws house, emptying the flat of all our furniture and other crap be of any advantage?
We tidy and clean to our best, but it's not a huge flat and I've run out of places to hide dds array of toys.
I'm pretty reluctant to drop the price further and still have 10 weeks left in the contract with these useless estate agents.
Any suggestions?! Grin

OP posts:
bakingaddict · 02/09/2014 10:40

Sorry you are going through this. I remember selling our flat to be a very stressful time. I wouldn't completely empty the flat though, as a buyer I think it's nice to see and visualize some furniture in a property.

What I would do though is if you have a lots of toys around is to de-clutter as much as possible and just have one smallish toy box for your DC. Keep your DC's favourite ones but the rest can go to your IL's. If you can stretch to a few hundred pounds maybe re-paint some rooms to a neutral colour, if not already, and some new light curtains in bedrooms and living room. I remember when selling our place you do have to become quite detached and start seeing it not as your home but through the eyes of potential buyers. If you can get into that mindset you will see what furniture needs to be removed from your property to maximize a sale

chipsandpeas · 02/09/2014 12:36

why are the buyers pulling out - get the estate agent to find out if they havent told you
it might be something easy to fix but could be something else - if the buyers have gotten to the point of exchange its usually something more than making the house nicer

Bearbehind · 02/09/2014 12:41

Pulling out the day before exchange is not going to have been due to toys on the floor!

What reasons have the potentials buyers given for pulling out?

If it's problems their end then you can't do anything but if it's problems with the flat/ survey/ valuation then you need to know about it so you can look into resolving it for future buyers.

DonkeysDontRideBicycles · 02/09/2014 12:52

I was told years' ago that fixed price smacks of "desperate to sell" which is great if you're buying.

Have they got people through the door? Did you ask for negative as well as positive feedback?

I would take it off the market for a couple of weeks then put it back on higher at offers over with a different agent. But as you are stuck with these agents demand new photos and really go through the place with a critical eye.

Could you be brave and show us a link so we can make suggestions?

Original poster
Bambamboom · 02/09/2014 13:07

We had all the searches, surveys etc done and all came back fine. They said on Saturday everything was going ahead and they were planning on renting it out as soon as possible, then pulled out on Monday because apparently the buyers company is under review. I'm not sure why that affects the purchase of an investment property? Maybe he wants to keep savings in case? Maybe it's just an excuse.
This is the link, the garden has since been done up and looks lots better and there's a few woodwork jobs that need doing but it's priced well below market price because of the little things like this.
www.rightmove.co.uk/property-for-sale/property-45685328.html

OP posts:
Original poster
Bambamboom · 02/09/2014 13:10

Estate agents have got people through the door, yes and I've asked for all feedback but I get "they want a bigger second bedroom, but they loved it" or "they felt the could get more for their money elsewhere" which is true, if you go 10 minutes down the road you can buy a flat for 100k but the area is nowhere near as desirable.
We had it independently valued at 155k 2 years ago, before we put the double glazing in and redecorated.
Just don't know what else to do with out throwing loads of money at the place

OP posts:
londonrach · 02/09/2014 13:14

Op whats the value of the property now. Value 2 years ago is not important. I don't know Bournemouth market. What are other properties in the area selling for. I'd be tempted to get it revalued.

londonrach · 02/09/2014 13:17

It does sit in the middle of value with other 2 bed properties in the area. The garden photo isn't good. I don't know the area as no idea if it's good value or not for that road.

MelanieCheeks · 02/09/2014 13:20

If you've got to a stage where you've had 3 buyers almost at the point of exchanging, then it's not the price or the toys.

Go and speak to the estate agents. Ask them what they are doing to advertise and get viewers. Make them work for you - they often need a lot of prodding into action!

Good luck with your plans.

Pimmsoclocknow · 02/09/2014 13:31

What does the survey say? Pulling out late suggests a problem from survey or mortgage offer rather than estate agent issue. I'd talk to your solicitors

Original poster
Bambamboom · 02/09/2014 13:35

It was initially valued at 169k, another estate agent valued it at 165k and it since then been brought down to 155k.
Garden is communal, we have payed for a garden this summer but it's a big project. Can't do much about the garden.

OP posts:
maddening · 02/09/2014 13:38

Get a new valuation - may as well stay current.

steff13 · 02/09/2014 13:38

If you've got to a stage where you've had 3 buyers almost at the point of exchanging, then it's not the price or the toys.

I agree with this. People clearly like the property if they're getting to this point. Could it be the home inspection (if you do that there)? We made an offer on a house when we were buying, and pulled out because of a bad inspection.

Original poster
Bambamboom · 02/09/2014 13:39

The surveys have all been fine and buyers had no problem. 2 buyers pulled out pretty early on, felt they could get more for there money in town centre which you can, but it's not by the beach or I'm alum chine which is a desirable area, which Bournemouth town centre is not.
Basically unless you're buying for the area of alum chine/Westbourne you're going to go elsewhere because you can pick property up a few miles down the road for pennies, you're neighbour is likely to have just come out of rehab but the property is cheap.

OP posts:
DonkeysDontRideBicycles · 02/09/2014 14:01

Thanks for putting up the link. I steeled myself before looking but superficially looks fine. Had a nosy at other similar places in the neighbourhood and there isn't a glaring difference in presentation. The rooms aren't huge but that's reflected in the price.

Is the agent for this other house you're after the same one as your current agent?

Original poster
Bambamboom · 02/09/2014 14:09

He estate agent for our flat is different to the house because they're in totally different areas.
The people we are buying off have given us a little more time to find a buyer.

OP posts:
DonkeysDontRideBicycles · 02/09/2014 14:38

How easy would it be go to PILs' place? That might entice viewers and persuade the sellers of the house you want that you are doing all you can.

bakingaddict · 02/09/2014 14:51

Thinking ahead to your next round of viewings, I think you just need to stage it a little differently to get your premium. Is that bedroom with the big double bed dominating it your main room? If it is then there is nothing much you can do but if it's a second bedroom then change to a smaller bed and show that there is capability for storage.

If your child's bedroom is bigger then think about swapping the rooms over to show the main bedroom as having space for a wardrobe and bedside table also. You need to be creative to convey a sense of space that isn't necessarily there.

Original poster
Bambamboom · 02/09/2014 14:57

Our dds bedroom is smaller so no chance of getting the bed in there. The rooms are pretty small but we do have a wardrobe and hanging space you can't see in the photo.
Could go to In laws easy enough and have storage elsewhere for things. Wonder if this would make it more attractive to potential buyers because it's ready to be moved into etc

OP posts:
Bearbehind · 02/09/2014 15:01

I wouldn't move out- it makes you look more desperate to sell. Also, an empty house makes it easier to spot any imperfections/ problems etc.

The buying process takes forever- if you just tell a potential buyer you aren't in a chain and can move as soon as you complete that would be attractive to a buyer.

jetsetlil · 02/09/2014 15:54

I work for an estate agents as a viewing rep and it sounds like they have done a fine job for you so far - they have found you 3 buyers! You said you think the latest buyer has pulled out for financial reasons so that isn't anything the EA or yourself has done wrong. I doubt very much they have just sent any old person round to view just to make it look like they are marketing it - it doesn't work like that, especially if they are conducting the viewings, after all, they have to pay their reps wages so if they are anything like the company I work work (which is independent) they will only allow people to view who are in a position to proceed NOT timewasters

Mylovelylovelyhorse · 02/09/2014 15:58

I can't help but we used to live in Alum Chine. I miss it. It's a lovely place

Wantsunshine · 02/09/2014 16:18

I think the place looks great. I did just go on Zoopla and it seems the other flat is also for sale in your block and has been since 2013. It's only a 1 bed and your prices seem right and aligned. The other flats down the road are a lot more so guessing nice road.
Is there a problem with the leasehold/freehold or a bad neighbour?

Original poster
Bambamboom · 02/09/2014 16:28

We just had an influx of viewings all of which none of them seemed at all interested in the place and it's very hard to get info out of estate agents.
They've done a good job finding us buyers, but not sure they hit the target market for our flat that's all.
No bad neighbours, no problems with free hold etc just a lot of flats on the market and easy to easy cheaper property of you're not bothered about living in alum chine itself.

OP posts:
PeterParkerSays · 02/09/2014 16:32

I'd maybe change a few of the photos - can you get a photo of the storage in the master bedroom as well as one of the bed, for example? - but it's well presented.

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