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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Begging for some advice on how to get our house to sell... I need a miracle.

225 replies

FeeFee832 · 01/09/2019 21:25

We have been trying to sell our house since April. The bloody thing is taking forever. I am beyond impatient now and don't know what the heck to do... I want our house to sell ASAP.

Side note: House is on at £550,000.
We've had 3 buyers. All chains collapsed.
6 offers between £543,000 and 575,000.

Reduced the house to £550,000 from 575,000. Thinking of reducing again to £535,000 but EA saying wait.

The house across the road sold in 3 days!

Changed EA once as well... apparently the house is perfect, neutral colours, tidy, clean... etc.

HELP ME...

OP posts:
CendrillonSings · 01/09/2019 22:07

Well, the only practical solution is to specifically target cash buyers, perhaps by offering them a discount - say 525 or 500, depending on how desperate you really are. Such buyers are of course rare...

Original poster
FeeFee832 · 01/09/2019 22:07

@hennybeans that's a really point. I'll call them tomorrow and say we will accept low offers for cash buyers/no chains!

OP posts:
SoyDora · 01/09/2019 22:07

I think Merryoldgoat was confused because you said it is collapsing up the chain, not down. That would usually refer to the house that you’re buying, or the one that your vendors are buying, etc.

Original poster
FeeFee832 · 01/09/2019 22:07

Actually, several people have and I've had some great advice @Aberhonddu.

OP posts:
SoyDora · 01/09/2019 22:08

What’s a frigid conservatory?! I’m intrigued!

Original poster
FeeFee832 · 01/09/2019 22:08

@SoyDora ah, sorry. I don't really understand the terminology of the chain... this is my first time selling.

OP posts:
colourlessgreenidea · 01/09/2019 22:11

what if a MN is looking for a house in your area?

Then they’ll have already seen it on Rightmove.

Original poster
FeeFee832 · 01/09/2019 22:13

@colourlessgreenidea LOL...

OP posts:
Merryoldgoat · 01/09/2019 22:15

@FeeFee832

The chain starts with the first house in the chain to be purchased where the buyer isn’t selling - often a first time buyer. Obviously the shorter the chain the smaller the risk.

Down the chain is the people buying from you and the people buying from them; up the chain is the people you are buying from and so on.

You said the chain collapsed upwards which is why I got confused.

Nimello · 01/09/2019 22:16

OP, I can't say without seeing.

However...

You have been unlucky with chains collapsing. It is normal, but it's bad luck.

Yours is a slightly different situation from the 'can't sell' situations, which are normally (essentially) due to a failure either to make the house more sellable, or to reduce the price. Your house is evidently sellable, as it has sold three times.

I think the market is a bit crap, especially in summer. I have just sold a BTL at a big discount, just to be rid of it. However, the EA advised me to accept viewings only from either cash buyers or, at a push, people who had agreed to sell to cash buyers.

As I needed to sell quickly, I took their advice and got a sale as a result. Is this something you might think about?

Userzzzzz · 01/09/2019 22:17

We’ve been unlucky with chains breaking down. It was the first time buyers in the chains that were the problem (struggling to secure the mortgage they needed) so I wouldn’t be too hasty to give a masi e discount to a first time buyer.

Pollypenguin01 · 01/09/2019 22:17

Are you sure the chains are actually collapsing and it’s not just that the potential buyers have found somewhere cheaper/a problem with yours/advice (or lies) from neighbours you might have fallen out with?

You can’t do anything to stop a chain collapsing but you can make it slightly easier by moving in with family so you aren’t the one causing the chain to collapse, although this obviously doesn’t help with the rest of the buyers/sellers not directly dealing with you.

Without a link people can’t give you proper feedback on your property but if it isn’t selling that normally means it has a glaring issue or is overpriced.
Seeing as you’ve had offers it sounds like it’s something after that causing the issues which could be bad luck or could be something being picked up like a legal issue or neighbour/neighbourhood/building regs/etc etc.

What has your EA said? You need to really delve deep and find out if there are any other issues being hidden from you.

Original poster
FeeFee832 · 01/09/2019 22:17

@Merryoldgoat thank you! Sorry, I'm not very good with all the terminology.

OP posts:
JemSynergy · 01/09/2019 22:18

I've been looking for about a year and not much seems to be coming on the market when it comes to detached houses. The ones that I see are so overpriced! I have two houses on my road which would have been snapped up within days of going on the market and yet they have been up for about a year. I just don't think it is a good time to sell and people are just waiting!

Original poster
FeeFee832 · 01/09/2019 22:18

@Merryoldgoat so if we aren't buying anywhere, the chains stops with us?

OP posts:
ScreamingBeans · 01/09/2019 22:19

Nothing's moving with Brexit except those properties that have dramatically reduced price, so people feel they're getting a bargain and will risk it.

Original poster
FeeFee832 · 01/09/2019 22:19

@Nimello congratulations on selling. Hmm... I didn't want to put restrictions on but do you think this might help?

OP posts:
Blueoasis · 01/09/2019 22:21

If your neighbours sold in 3 days, assuming they have a similar sized house and garden, then you're doing something wrong.

Have you done a home survey? Are there problems in it? Are you showing the house yourself? How much cheaper was the neighbours?

Original poster
FeeFee832 · 01/09/2019 22:21

@Pollypenguin01 two of the buyers emails and text us - we are in touch with them. One of them constantly texts every week to see if we've had someone interested.

We have their addresses too as it was at solicitor stage, so we check to see if they have gone under offer rather than pester them. They both haven't sold yet.

The third buyer (way back in April) has gone quiet! Think they have sold and gone with someone else.

OP posts:
Original poster
FeeFee832 · 01/09/2019 22:22

@Pollypenguin01 it never gets to surveys etc. It only gets to exchanging solicitors details and then it's fallen out! So there's nothing wrong in that respect.

OP posts:
Original poster
FeeFee832 · 01/09/2019 22:25

@Blueoasis it isn't the same... I think it's better. Better garden and although is smaller, it's more modern and a better layout. It's not cheaper. Same price.

OP posts:
Merryoldgoat · 01/09/2019 22:25

@FeeFee832

Yes.

The most desirable chains are very short and involve big deposits or cash.

So, when I bought my first flat we had a large deposit and the vendor was moving abroad so there was effectively no chain.

When selling that flat we sold to a FTB and bought from a couple who were splitting up and not buying anywhere else so a very short chain.

Just adding in another couple of links and it can become very precarious.

Nimello · 01/09/2019 22:25

FeeFee832, I obviously can't speak for you, but I think it worked for me. I needed to sell, so there was absolutely no point showing this particular house to people who just fancied a nosey/people who weren't in a serious position to buy quickly. Do you trust your EA? I went with one I knew would do a good job of selling for me (though have had a lot of experience of buying and selling houses, and knew which EA would do the business).

Original poster
FeeFee832 · 01/09/2019 22:25

@Blueoasis also, I think they underpriced which has undercut us!

OP posts:
Blueoasis · 01/09/2019 22:26

it isn't the same... I think it's better. Better garden and although is smaller, it's more modern and a better layout. It's not cheaper. Same price.

There's your problem. Drop the price.

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