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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To just want to have a massive moan (House not selling )

71 replies

CoCoPopswithCruncyNut · 12/10/2018 18:08

So sorry but I have to write it out! House went on the market in February with first estate agent. They were rubbish. Loads of viewings, 1 offer. They were very bad at giving feedback, turned up an hour early/late for viewings, not telling us viewings were cancelled etc...

New EA from July. She is lovely. We get on, good communication loads of viewing, one ridiculously low offer.

It's October. Me and my boyfriend are tired... all in we must have had 30-40 viewings. We dropped the price once by 5k.
First asking price was 315k. Now it's on 310... house is detached with a small garden. Completely refurbished apart from kitchen. If anyone came in 5-7.5-10 k under the asking price and said its cause of the kitchen of totally understand. I'm tired now... my boyfriend works away a lot so it's me prepping the house for viewings all the time. I just want someone to buy it and so we can move on (literally) it's been dragging for so long . Up till about 2 weeks ago we had constant viewing ... nothing the last 2 weeks. EA says in the current market we probably need to drop it to 300k but then people will come in and offer 280-290?! What do I do? I can't go on any longer

OP posts:

BlueJava · 12/10/2018 18:20

If you aren't getting offers after viewings it probably means it's overpriced. Tbh dropping 5k on a 315k house isn't a lot and I don't think it would have much, if any, effect on selling it. If you are on websites like rightmove the price change won't have put you in a different bracket due to the bands they use for pricing). Have you had a frank conversation with the EA and asked them if they think it's over valued? You could always drop it to say, 295 then say no offers under 295k.

Probably best to look around your own area and be very objective in comparing your house/price to others to see if you are a bit over compared to others.

We decided we wanted to move this year and didn't want to go through the hassle of getting the house straight every time someone wanted to look so we set a reasonable price and then dropped it 35k after it had been on the market about 2 months. We'd had a lot of interest up to that point but when we dropped suddenly everyone who came but couldn't afford it then wanted it! Remember - often people will view a house they can't quite afford so when it drops and they get notified of it by the agent they want it.

wonderandwander · 12/10/2018 18:23

It’s overpriced. Significantly so by the sounds of kit

Allthewaves · 12/10/2018 18:26

Your house is overpriced if your not getting offers. The kitchen will really put people off as that's the room that costs the most to redo in a house. Listen to your estate agent, drop it to £300k and say offers over that price

Celebelly · 12/10/2018 18:26

Drop the price. If there have been that many views and no sales, it's overpriced. It's coming into a slow time of year now and Brexit is making people uncertain. If you really want to shift it, then knock the price down.

NotANotMan · 12/10/2018 18:26

If nobody wants to buy it at that price then it's too expensive

Why don't sellers grasp this basic fact? Houses are only worth what someone will pay

Keepcalmanddrinkcoffee · 12/10/2018 18:27

Just sold ours. We dropped it by £10,000 but our house is much cheaper than yours. £5k drop on over £300k is pretty poor. We had nowhere near that amount of viewings.
Sorry but do think it sounds overpriced.

Alienspaceship · 12/10/2018 18:29

It will sell if the price is right.

TulipsInBloom1 · 12/10/2018 18:33

If it doesnt sell, its the price.

Drop to 300k and see what happens.

What is the minimum you can sell it for to have sufficient deposit for next house?

LIVIA999 · 12/10/2018 18:33

We dropped our house by 65k and eventually sold for 5k under that. The offers we got were 100k under the starting price ( that two estate agents suggested)
If you really want it sold- and can afford to do so- then drop the price.

Dermymc · 12/10/2018 18:34

It's too expensive. If you want to sell, reduce the price.

planetclom · 12/10/2018 18:37

5k is peanuts we offered on a house £50000 under the asking price of 495000 and the vendor kicked off because he had "significantly" lowered the price and he wasn't lowering it any more. We knew it was only 5000 because it had been on the market for about 18 months when we eventually went round and had seen it at 500,000.
He refused to budge on the price and I have just seen that he is under offer in the last week or so, I bet he has sold it for what he wanted and he will crow to anyone who told him it was underpriced, I knew it was the right price all those others were just along the piss, in the mean time it took use another month to 6 weeks to find the house we are in and took 4 months to complete we have lived here for a year... so basically in the near 3 years he had waited for an offer the market has moved up to what he wanted.
Don't make that mistake if you want to move drop the price and if you can wait do.

PotteringAlong · 12/10/2018 18:37

Most people will offer 10 % below the asking price. How much do you need to sell it for?

pictish · 12/10/2018 18:37

There you go OP, it's pretty unanimous. You're looking for too much for the house. I also agree that when a house won't sell, it's the price that's the problem.

Good luck with the sale.

JosellaPlayton · 12/10/2018 18:37

Drop the price if you want a quick sale. Or just pull it off the market, give yourself a break from viewings and relist after Brexit when hopefully things will be a bit better, plus it will be spring and that’s a better time to sell as well.

planetclom · 12/10/2018 18:37

Sorry overpriced

FarrahMoan · 12/10/2018 18:39

We put ours on the market in August 17 and finally moved at the end of July 18. During that year I fell pregnant and had a baby. We had 3 estates agents at one time and for each viewing I had to clean and scarper with 2/3 kids and a dog. I feel your pain, it was a pita.
We eventually dropped our price by £30k (started at £350k) which meant we could do a part ex.
Good luck, it'll be worth the hard work when it happens

Santaclarita · 12/10/2018 18:43

I wouldn't buy a house that needed a new kitchen to be honest. Although I wouldn't bother going to view it either. Surely the viewers saw the kitchen and price before viewing?

It's probably the price, but is there anything else truthfully that would put people off? I find it odd that you'd have so many viewers when they know the price and inside of it beforehand and then not put an offer in. Is the kitchen shown in the pictures properly?

JustDanceAddict · 12/10/2018 18:47

A bad kitchen would def put me off a house, sorry!

Original poster

CoCoPopswithCruncyNut · 12/10/2018 18:49

Thanks for the comments. I'm totally fine hearing that you all think it's overpriced.
We have been asking the EA the past month or so if she thinks it's the price. She said in the feedback no one has mentoany issues with the price. Also next door sold for over 300k exactly the same house (kitchen needed work there as well) on May I think...

The photos show the kitchen well. They are not professional photos (sometimes I find them quite misleading on Rightmove) so viewers shouldn't be surprised by the dated ish kitchen. It's not horribly dated tho but it's not brand new so please don't imagine totally run down kitchen.

OP posts:

TulipsInBloom1 · 12/10/2018 19:48

Do you want to share a link?

DangerousBeanz · 12/10/2018 19:56

When we sold our last house I had a new kitchen fitted before I put it in the market, a cheapish one but it looked fresh. It meant i could up the asking price a bit. But it was a tiny kitchen so it didn't cost a lot.
Look into whether it'd cost less to replace the kitchen than to drop the price, £10k on a new kitchen is better than having to deep the price by £30k (My tiny kitchen cost less than 5k from Howden's btw)

Original poster

CoCoPopswithCruncyNut · 12/10/2018 20:36

I'd rather not share the links sorry. Great tip of changing the kitchen bit the house has been on the market for 8 (😳😱😱) months so would that make a difference now?

OP posts:

HowToBeBetter · 14/10/2018 10:42

Okay people I know my thread has dried out a bit and appreciate all your opinions but we are having a viewing in 20 minutes and I'm keeping my fingers and toes crossed here.

My boyfriend is still away with work and it's been so tricky to talk about the house on FaceTime. I feel like we just need to sit down with a cup of tea. Get the facts lined up and make a decision. But for now fingers crossed for today's viewing x

MooPointCowsOpinion · 14/10/2018 10:47

Good luck Howtobebetter
My house has been on the market since July and the viewings are exhausting, as is getting crappy low offers. We’ve dropped the price twice, finally getting decent interest now, but the market is shit compared to when we were looking to sell 2 years ago.

Bluelady · 14/10/2018 10:48

I completely disagree about the kitchen. I wouldn't want to buy a house WITH a new kitchen. They're highly personal and I don't want someone else's taste and layout, let alone pay a premium for it.

Good luck, OP. Hope it soon goes.

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