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Original poster

How can I sell this f*cking house

144 replies

Instawars · 07/07/2023 11:43

due to a relationship breakdown I need to sell my house. I am still living with ex and it’s absolutely hellish. The house has been on the market for 6 months and nothing in our area is moving.
ive spoke to the estate agent and they’ve said it’s not the price “the market is just slow”. We own as tenants in common so because the estate agent keeps saying it’s not the price I can’t get my ex to sell it at well below market rate to entice a buyer that way.
I am at the end of my tether and don’t know what to do. If I look on right move there are 25 properties listed in our area and only one is under offer- some have been on the market 9 months or more.

OP posts:
loislovesstewie · 07/07/2023 13:38

Are you getting viewings? If so are you getting any feedback on what prospective purchasers think? If you aren't getting viewings then I'm sorry to say it will be the price.

jimmyjammy001 · 07/07/2023 13:42

It couldn't be any more obvious that it is the price if nothing is selling, the estate agents have told you that because if you reduce yours everyone else will have to start reducing there's making the estate agent look bad and earning less commission, everyone's buying power has come down alot with the interest rates rising as much as they have, it's not going to pick up anytime soon, tell the estate agent to reduce

Dillydollydingdong · 07/07/2023 13:42

Personally, if it was me, I'd tell EH I'm going to move out and rent something, as the situation is intolerable. If there's any money left over after I've paid the rent, council tax etc on my new place, I'll contribute towards the mortgage but otherwise it's down to him. If he falls into arrears the house will eventually be repossessed and the price the mortgage pays will NOT be what he's hoping for.

TallulahBetty · 07/07/2023 13:42

Testina · 07/07/2023 12:44

Not terribly blue sky, but - rent it out instead and both take equal income from the rent. Leaving you renting too though.

I think with everything OP has going on, setting up a residential lettings business is the last thing they need.

TallulahBetty · 07/07/2023 13:43

It will be the price. It always is, if it's not shifting after this long.

YouJustDoYou · 07/07/2023 13:44

A lot of the properties in my area aren't selling because the pricing is insanely high. One small 2 bed flat at the end of my road for example used to be about £150k or so, now after covid she's put it up for £330,000, for a tiny two bed flat! And she's wondering why it's not had ANY interest in over half a year. Just too much money.

ActDottie · 07/07/2023 13:45

I’d rent it out while the market picks up a bit, rental market is mad atm so I reckon you’d let it fast.

EL8888 · 07/07/2023 13:46

If dropping the price isn’t an option then l would:

-empty as much stuff out of the property as possible. We got a storage unit to stash stuff in
-if possible get smaller furniture. Sounds stupid but a smaller dining table made the dining room look bigger
-get a new and more hungry estate agents (property had been on the market for ages and new estate agents sold it within the week. They took better pictures, did an open house and entertained only serious offers -joke offers were firmly and politely declined)

These are the steps we took to offload a property we struggled to sell. Good luck with it all

Yellowlegobrick · 07/07/2023 13:50

Its always, always, always, the price. The mortgage rate impact isn't full through yet but everyone knows its coming and no one will shift because even if you want to move and what you'll be selling will go for less, the mortgage multiple mean you're still better off long term buying at a lower price if upgrading, so everyone's going to try and wait.

Pipsquiggle · 07/07/2023 13:52

I understand about not posting a link in your difficult situation but could you give us very topline info - area, what kind of property you have?

I would talk to other local agents as well and see if they are all saying the same thing.

CrustyWingshield · 07/07/2023 13:53

I would recommend watch moving home with Charlie on YouTube. He explains a lot about the moving process, so helps buyers and sellers alike. He is predicting large falls in prices, so is not everyone's favourite, but I have learnt a lot from this channel. I knew nothing before. He tends to advise pricing lower as that brings an advantage of competing bidders, rather than the home not getting viewed at all or chasing the market down after this. This might not be the case with higher interest rates though, as there is definitely a limit on what people can afford now. There might be less leeway for bidding up.

I have no idea where you are, but homes are still selling where I am, but houses are sitting on the market and I started to see this last summer, even before it was known prices are trending downwards. I am seeing reductions too.

I hope you manage to get sold so you can move on. Good luck.

2CranesDance · 07/07/2023 13:54

Keep reducing the price every couple of months

It will sell

The other alternative is to sell via auction, where you stipulate a minimum price

Goldfoot · 07/07/2023 13:56

It's definitely the price. Anything will sell at the right price and get a quick sale if the price is really right.

SleepingStandingUp · 07/07/2023 13:57

Instawars · 07/07/2023 12:41

I’m not posting the link on here. The situation is very unpleasant and I don’t want friends and family to know.
he is financially abusive and controlling, and I don’t want friends getting involved.
i don’t think I could afford to subsidise his share- a meaningful drop would wipe out my contribution entirely and effectively put my portion into negative equity, it would mean I would need to find cash to then buy him out.
I can’t just walk away as he couldn’t take over the mortgage.
I guess I was hoping for some blue sky thinking- beyond just drop the price.

Name change then post a link asking for ideas to sell this house as its stuck. No one will link the two posts

Ohitsajollyholiday · 07/07/2023 14:00

Is there anything practical you can do to increase the appeal? Any potential for extension, etc that you could get planning in place for?

Monster80 · 07/07/2023 14:02

Is this a newbuild house by any chance?

rainingsnoring · 07/07/2023 14:03

Instawars · 07/07/2023 11:43

due to a relationship breakdown I need to sell my house. I am still living with ex and it’s absolutely hellish. The house has been on the market for 6 months and nothing in our area is moving.
ive spoke to the estate agent and they’ve said it’s not the price “the market is just slow”. We own as tenants in common so because the estate agent keeps saying it’s not the price I can’t get my ex to sell it at well below market rate to entice a buyer that way.
I am at the end of my tether and don’t know what to do. If I look on right move there are 25 properties listed in our area and only one is under offer- some have been on the market 9 months or more.

I am really sorry that you are in such a horrible situation.
As everyone else has said, you need to reduce the price significantly in order to sell and your agent is useless and talking nonsense. Homes in your area are not shifting because buyers cannot afford the current asking prices, ie the asking prices are far too high for the market. You won't be selling at below market rate if you sold now, you would be selling at current market rate, not 2021-22 rate. Prices have come down and the sooner you reduce and sell the better both financially and personally.
You need to explain this to your ex, give the house as much of a tidy up as possible so it is well presented and change agent to someone who is actually capable of selling the house.
Good luck!

TallulahBetty · 07/07/2023 14:03

ActDottie · 07/07/2023 13:45

I’d rent it out while the market picks up a bit, rental market is mad atm so I reckon you’d let it fast.

Again, becoming a LL is not just something to do on a whim while struggling to sell a house, especially with all the other factors mixed in...

Deathbyfluffy · 07/07/2023 14:05

As mentioned, it's always the price. I bought the properly I rent out because it was £10k lower than others in the area, and the couple were desperate to sell - it's why I chose it.
Drop it so it's below others, and you'll find a buyer quickly.

Emotionalsupportviper · 07/07/2023 14:08

Dotjones · 07/07/2023 11:58

Ignore what the estate agent says, it very much is the price. It is always the price. Other factors like the size, appearance, state of repair all boil down to one thing - what price is the house worth.

You say the other person won't agree to a reduced price. Well, if they are coming from the point of view of wanting the most money (as opposed to their reluctance to lower the price being a method of control/abuse), you can always reduce your share of the profit.

For example if the house is worth 200,000 and after fees and mortgage repayments your shared equity is 140,000 or 70,000 each, you could reduce the price by 30,000 and your share by the same amount, i.e. it sells for 170,000, the equity is 110,000, you take 40,000 and he takes 70,000. That way he's not affected by the drop in price.

You might say you shouldn't have to, and to an extent I agree, but it's you that seems to want a faster sale.

Ignore what the estate agent says, it very much is the price. It is always the price. Other factors like the size, appearance, state of repair all boil down to one thing - what price is the house worth.

This.

What the house is worth is what someone is prepared to pay for it.

Your ex is an idiot (or an arseh0le) hanging on for more. The market seems to be all over the place at the modreadful it must be,ment. I'm so sorry you are stuck in this horrible situation. I can only imagine how

Emotionalsupportviper · 07/07/2023 14:10

Sorry -words have got mixed up.

The market seems to be all over the place at the moment

Mumtothreegirlies · 07/07/2023 14:10

Dotjones · 07/07/2023 11:58

Ignore what the estate agent says, it very much is the price. It is always the price. Other factors like the size, appearance, state of repair all boil down to one thing - what price is the house worth.

You say the other person won't agree to a reduced price. Well, if they are coming from the point of view of wanting the most money (as opposed to their reluctance to lower the price being a method of control/abuse), you can always reduce your share of the profit.

For example if the house is worth 200,000 and after fees and mortgage repayments your shared equity is 140,000 or 70,000 each, you could reduce the price by 30,000 and your share by the same amount, i.e. it sells for 170,000, the equity is 110,000, you take 40,000 and he takes 70,000. That way he's not affected by the drop in price.

You might say you shouldn't have to, and to an extent I agree, but it's you that seems to want a faster sale.

If it were the price the estate agent would have lowered it months ago. We run an estate agents and we wouldn’t want to be dealing with a property for 9 months if we knew a reduction is all that it would take to shift it.

willWillSmithsmith · 07/07/2023 14:11

Is your ex refusing to lower the price because he will need the money to buy another place (as opposed to being awkward for the sake of it?). I am also a tenant in common with my ex but I’ll be dragging my heels when it comes to selling as I’m in no hurry to move (my half share doesn’t get much nowadays unless you live in a palace).

Budikka · 07/07/2023 14:12

In markets like this, sometimes the only way to sell is to make an enormous drop in price. Or just wait and the right buyer will eventually come along. The only problem is that it is like waiting for premium bonds to win a prize.

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