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Original poster

Reasons for a house on the market to be suspiciously cheap(ish)

103 replies

Pookythebear · 03/01/2018 13:40

Just that really. We are not really in the market to move right now, but always keep our eyes open for anything that might pop up in a few areas that we like, as its always an option for the future. How I missed it before I don’t know, but my dream property (rural, detached, period) loomed up on rightmove yesterday.

But for this area (SE England) it’s about £100k less than Id expect it to be. It is rural and is about 10miles from nearest train station - but that doesn’t tend to put estate agents off asking the most they can. I spoke to the estate agent this morning who describes it as well presented. It’s been on the market for a year with lots of viewings and only one offer which fell through. My suspicions are aroused and I guess until we view it ourselves we won’t know but does anyone know the usual reasons...?

TIA

OP posts:
museumum · 04/01/2018 08:46

Bedroom 3 is tiny and bedroom 4 is off another bedroom so not really practical as a bedroom so I think the answer is it doesn’t work as a 4 bed.

Battyoldbat · 04/01/2018 08:50

Those ceilings are incredibly low, especially the bedroom ones fin youu look at how much space there is between the top of the bed and the ceiling. We looked at a lot of period properties when we were buying and this was the most common reason for us to discount them (DH is over 6’ and a lot of places he had to stoop in every room).
Plus there’s hardly any garden. I think there are lots of reasons why the price isn’t top of the range that aren’t suspicious so it may stilll be a dream house!
We live in a rural spot with a septic tank and no gas, it’s absolutely fine.

Needmoresleep · 04/01/2018 08:51

That said there may be some bargains around. I am accepting a lowish offer on an ex-rental property. The (very good) agent says I might well do better should I remarket once the tenant leaves, but he cannot predict where the market will be next summer. Or even if he will be able to sell it at all. It is a nice flat, but other nice flats are sticking, and buyers are nervous.

If I really needed to sell a property now, and had capital gain sitting there, I would price to sell, making sure it was sufficiently less that competing properties to make sure I picked up one of the relatively few buyers around.

Disclaimer - I don't know anything about the property market for the area you are looking in, though assume it may also be be affected by the nervousness in the London market.

Babbitywabbit · 04/01/2018 08:55

Is it some distance from amenities? People Tend to think rural= idyll, but actually a house on its own, not in walking distance of a shop and other amenities (or within distance but only along a busy road) isn’t great. I would hate to live anywhere where I had to get in the car and drive just to buy a pint of milk or drop into a friend for a cuppa.

Agree with the other points too- garden seems all at the front, very exposed and if cars speed along that road it wouldn’t feel like a rural idyll at all!

Also energy efficiency is rubbish so it sounds expensive to run and probably cold. Rooms very poky.

I’ve seen houses like this in other areas which are very old (sometimes listed at some point) and were probably in a genuinely lovely location when built, but when roads come along later, they end up being the one house left standing in a less than pleasant location.

If I wanted to live in a house that was totally on its own (which I wouldn’t, because having walkable access to shops, doctor etc is important to me) then I’d want somewhere truly isolated- not on a road and not with land that’s being farmed adjoining.

Seems to me like this could have all the disadvantages of being ‘alone’ without any of the positives

spankhurst · 04/01/2018 09:00

There are always reasons why a house is oddly cheap. We viewed absolutely loads and all the cheaper ones had problems not apparent on Rightmove. Sadly I don't think there are any bargains in housing.

LittleWitch · 04/01/2018 09:01

You could ask another estate agent if they know anything about it and the area around it. Otoh, as pp have said, it may just be that the vendor needs a quick sale more than they need to maximise their return.

Newrules · 04/01/2018 09:07

What can be seen out of the window in photo 4? It looks like outbuildings or a close neighbour.

Original poster
Pookythebear · 04/01/2018 09:08

Thanks again for so many thoughts. Definitely some things to quiz the estate agent/locals on - and it may still not be right as it will be a family home (2 young DC).

Some things flagged up aren't too much of a biggy to me, such as the low ceilings
/cold/ wonky as currently live in a semi detached cottage with similar 'issues'. But the thing that really strikes me is that it may be the price it is as it is only quite a small 3 bedroom, on a road, with a cesspit Confused...

Still going to see it though!!!! You never know...

Is 'rainbow cottage in helions bumpstead' all a bit mr.tumble?? (I digress).

OP posts:
OrinocoDugong · 04/01/2018 09:08

NB as the annex has it's own kitchen it will be considered a separate dwelling for council tax purposes.

Original poster
Pookythebear · 04/01/2018 09:11

That's interesting, Orinoco.

OP posts:
Enidblyton1 · 04/01/2018 09:14

The beds all look far too big for the bedrooms - I suspect the property is just fairly small upstairs.

Redglitter · 04/01/2018 09:14

It might not be anything sinister. When I saw my house on Rightmove I couldn't believe the price of it. It was significantly lower than anything remotely similar. I came to view it thinking it must need a huge amount of work done. It didn't. Turned out the owner had died and his son just wanted it sold to get the estate sorted.

No-one can believe what I paid for it. There's an identical property currently on the market at 15% more than I paid for mine under a year ago

Bluntness100 · 04/01/2018 09:21

Why did you expect it to be 100 k more? Looking at other properties that have sold that would be way over priced.

I think is definitely worth s view but I'd go in thinking there was room to negotiate on the price.

classicchristmas · 04/01/2018 09:27

The name is brilliant!

ILookedintheWater · 04/01/2018 09:49

It has no garage and the parking is so tight that you'd need to reverse out onto Copy hill which is a rat run from the villages through to Haverhill. The current owner is parking in a field gateway on the other side of the road. It is very close to the road, with no pavement. The angle of the first picture was taken from a ladder or a tree because the road isn't that wide and there isn't a highpoint opposite.
It isn't really in Helions Bumstead; it's the other side of Wiggins Hill towards Haverhill. I don't know the area but might that explain some of the cost differential?
It looks a beautiful cottage but the field behind comes right up to the back window and it is close to the road. If these aren't deal-breakers for you then it looks to be a bargain!

QuiteUnfitBit · 04/01/2018 09:53

Re the suggestions that it's on cheaply for a quick sale... it's been on for a year already. Smile

Sweptwindy17 · 04/01/2018 09:54

Look where Stansted airport is. Find the runway on google and trace a straight line.

Where do you end up roughly.

QOD · 04/01/2018 10:08

Sigh. I want it

MsHomeSlice · 04/01/2018 10:11

the floor is brick isn't it? In the kitchen and part of the sitting room?

I bet there is no proper DPC

it's quaint, but as PP have said, quaint means small rooms, low ceilings, killer staircases and Problems with a capital P

Spickle · 04/01/2018 12:18

Strictly speaking, this house is in Suffolk, not Cambridgeshire so perhaps prices are lower because of this.

Also just seen that the house is in Council Tax Band A, which seems odd!

Spickle · 04/01/2018 12:21

Perhaps the Council banding is just for the annex?? Which would make them separate properties...

Original poster
Pookythebear · 07/01/2018 16:05

Hi - I promised an update to those who were interested. We went to drive past said house today and took the chance to ask the (very lovely) owners if we could pop in and have a look. It is occupied, contrary to what the website says...

It was very, very lovely and the views and rural feeling did not disappoint. It's just on the edge of the village and actually about a 3 minute drive to the nearest (not so nice) town of Haverhill- well it's ok, but it does tend to be a little cheaper there. Reason 1 for price. Reason 2? As pp's said it just wasn't a family home despite being pitched as one. Two bedrooms were decent sized but both bedroom 3 & 4 interjoined with each of the larger bedrooms. Can't see that going down a storm when our kids are older... and those bedrooms were tiny.

Rest of house was quite gorgeous I have to say, but because of the odd bedroom set-up, it's a no from us. The search continues...

Thanks so much for everyone's input.

OP posts:
RandomMess · 07/01/2018 16:10

How gutting!

Didiusfalco · 07/01/2018 16:21

Thanks for coming back op, old cottages often have strange layouts don’t they?

ChampagneCommunist · 07/01/2018 16:35

Virtually all houses are offered with vacant possession- it just means you will buy it empty, without a tenant