HELP

[FeeFee832]

Hey Mumsnetters!

I'm wondering if I could get some advice on selling our house. I'll keep it succinct...

Our house went on sale back in April. 15 viewings, one offer, accepted in just under 3 weeks. Chain broke after 4 weeks due to their buyers no longer buying. Went on at £575,000. Full asking price offered.

House back on the market and a few views but no more interest. We then after 8 weeks changed agents and dropped the price to £550,000.

Offer 2, full asking price at £550k. This then dropped out after she lost her buyer (still wants to buy ours but can't get a buyer).

Offer 3, then offered £548,000. This then dropped out after 2 weeks because they didn't like the parking. Only people without a chain and cash buyers. Didn't even propose a dropped offer.

It's now been 4 weeks and we've had loads of viewings but people going for other houses... ours is always the last contender with another option. We've also got 3 people interested but can't proceed right now.

Should we drop our price again to £535,000? Our EA's suggesting not... but I'm so fed up!
The house across the road went on for £550k, on Friday, offered and sold by the Monday.

Help Mumsnet... and please be kind! 

Is there anything cheap and cheerful you could do to spruce it up a bit? Pressure wash any patio slabs and driveway if there is one, repaint walls a nice neutral light colour, pack away any clutter if there is any to help it feel more spacious. Just a few suggestions. We moved last year from an old property and it was so unique in layout that most people who came to view it, came out of curiosity rather than actual interest in buying it. Finally sold after two years. I feel your pain.

Don't reduce the price just yet, try to refresh it a bit first if you haven't already. A lot of buyers are wanting a fresh canvas at the moment (ourselves included).

Our house in January was painted brand new our the front, new front door, all woodwork painted white, light walls, new carpets... it's decorated mainly in creams and whites. All new bed linen from the white company for every bedroom... fresh lillies in every room and not an ounce of clutter. I have quite bad OCD as it is!

It couldn't be more tidy if we tried. Always cleaned to an inch of its life and hoovered before every viewing. Regular window cleaner. We have a gardener.

The EA is at a loss!

Thank you @Awaywiththefairies27 for your advice though. I'm just so fed up of it now. Feels never ending...

Can you link your house and the one that sold or is it too outing?

I’d also suggest that things pick up in Autumn with people desperate to be in before Christmas so don’t lower yet.

I'd rather I didn't post the house if that's ok... I don't really need anyone to critic the house as we've had so many viewings, 6 offers and 3 accepted. They just keep falling out.

Price is bang on for the market... just thinking whether to reduce just to sell or hold on?! I'm just so impatient. It's been 5 months. Is this normal?

@Merryoldgoat

Oh no. No idea why you're having such rotten luck then FeeFee. It's a complete pain having to wait on a buyer, even more so having them drop out. Fingers crossed it moves quickly.

Thank you @Awaywiththefairies27

Just begging for it to sell now... 6 months pregnant and just desperate to move closer to home!

As Merryoldgoat said, be patient. Autumn definitely brings out the fast paced buyers.

Really?! @Awaywiththefairies27 that's good! Is autumn a good time to sell? It's been so quiet over summer... and Brexit has me scared!

Due to the summer hols a lot of parents can't view without bringing their children with them and don't want to move before because of end of term tests (Sat's, GCSEs etc). Once September rolls around and the kids head back to school a lot more serious buyers should come around, especially as you've had plenty of interest before. My EA told me most families move at Easter or October half terms. Assuming a family come by they'll want to be in and settled before Christmas. Our buyers were like that, we had 0 viewings in the summer hols and 20+ in September, got full asking price from a cash buyer in the end.

I always scope out my Christmas tree spot before moving

Wow! Feeling much more positive now. Thank you @Awaywiththefairies27

FeeFee832 your house sounds perfect. That could be your problem if people are viewing but not offering after seeing others. People need to feel as though they can live in a house. Maybe yours is just too pristine and feels like a showhome, not a home. Have you tried an open day, with canapes, fresh coffee and bread smells, people interacting in the garden etc. Show a lifestyle, not just a house. It would make it feel lived in and more homely and viewers feel more connected to it. Lots of buyers need guidance to see beyond the perfect layout to an actual homelife.

Interesting... @Katzia

My agent won't do open days unfortunately but maybe our house is too clean/not homely?

I just don't know what else to do.

Brexit will bring a mix of "hold out incase the market drops" and - particularly if it is a forever home Imo - the "get the mortgage in the books before the market drops" and poss interest rate rise or banks take a more cautious approach reducing who they will lend to.

What’s the parking situation that the buyers weren’t happy with, OP? And whereabouts are you?

I think it's a high budget house and estate agents around the country are struggling in this climate to sell the more expensive "forever homes". Friend of ours is selling at £500k and despite being lovely house in nice area they are struggling to even get people in the door. Their estate agent told them brexit and current economic climate is putting people off moving unless they have to and they can only easily sell the cheaper end of the market or first homes type of houses.

Hopefully you will catch a break soon OP x

I think it's a really tough market at the moment, with Brexit on the horizon. x

Fresh lilies also have quite an overwhelming smell. Could you maybe change to a different flower for viewings?

You might be used to it but some people really hate the smell of lilies and could maybe think there's another smell you're trying to cover up.

Don't drop your price yet though. You're obviously generating lots of interest, just need to wait for the right buyer. Good luck.

Leave the price as it is for now. It's not a good time to sell over the summer, generally. Be patient, these things do take a while.

It's a tough time to sell but mainly because of the changes to taxation on second homes- a lot of people can't afford to keep their buy to lets so the for sale market is flooded- too much choice got buyers.

For that reason though, the rental market where I am is very competitive for renters as there are fewer rental properties on the market. Rents have instantly gone up by about £100pm in my area. Would you consider letting your current property out and remortgaging so you can get your next home in time for the baby arriving? That way you can see what happens with the market next year rather than panic sell at a reduced price.

My first house took over a year to sell. I wouldn't worry. The right person will turn up. Autumn is a good time for prospective buyers and the resolution of Brexit will give everyone confidence to move again.

The RICS have reported that house prices are falling overall, in response to the uncertainty over Brexit. They publish monthly market reports, listed here. The actual reports are PDF files.

It's difficult to know how this affects individual properties, though, the value of a home is what the market says it is. :-(

Interesting thoughts on the lillies... I can't smell them? @Modestandatinybitsexy

@Topsecretidentity No, we need to sell in order to buy because of the tax issue! Second property when selling is a nightmare etc. We need to free up all our equity. We sold a couple of flats (last year) and they just flew off the market... but our house just wont shift. The offers just won't stick?

Parking issue - it's permit parking only and can be difficult to get a space sometimes. But there's a big over flow car park less then 3 min walk away.