Need some advice! House sale

[MaMaMaMySharona]

Hi all, I’ve posted a few times about the disaster which is the sale of our family home. Long story short, went on the market in June 2016, have had 4 serious buyers in that time who have all pulled out just before exchange.

Obviously this is a massive pain in the arse and we’re all pretty fed up now. My mum is moving from Surrey to Norfolk and has had an offer accepted on her dream home, but due to her most recent buyer doing a fast one she’s now back to square one.

She is on with a very popular estate agent in her area and she’s had a lot of attention, but so far no serious offers. She was approached by another agent on Monday who, of course, offered her the world if she took them on BUT she’s tied in with her agents for a month and having previously been on with 2 agents she thinks it makes her look desperate.

Her house is on for £1.5m which is reasonable in our area for the location and size. She’s willing to take £1.4m as the lowest offer, but she market is absolutely dead at the moment so she’s not sure what to do really. The most recent offer she accepted (from the guy who pulled out) was £1,425m.

Is anyone else in this position? Or does anyone else know what they’d do if they were? I suppose the options are stick with one agent and hope for the best or go with two and leave herself open to looking desperate.

If she doesn’t sell by end of August I think she’s just going to take the house of the market for a year or so until this mess of a market sorts itself out but this is worst case scenario - all her money is tied up in the house and it’s expensive to run, so this is by no means the “easy option”.

It took us a long time to sell our parents house, which was large. The only thing that worked was dropping the price. We had endless viewings too. When we dropped the price serious buyers came out of the woodwork.
The amount of people available to buy expensive properties is relatively small, compared to say an ordinary 3 bed family home.
Just to add, our agent didn't think this was the right tactic, but it worked, and because we had several buyers interested, it eventually sold for slightly more than we hoped.

To add OP, we remarketed in the spring too, with lovely pics of the garden. We had been trying to sell over the winter of 2013/2014, which was notable for rain and constant storms. Was not the right weather for selling houses!

Lucisky I will suggest lowering the price to her, realistically I think it's the only way to get more people interested. She's been back online for about 3 weeks now - loads of viewings the first two weeks but absolutely nothing so far this week. It's rubbish!

Is it something with the actual house do you think? Does it not live up to the expectation you have after seeing the photos online? Is there anything about it that might put people off that's not in the listing like main road proximity?
We are currently moving from Harpenden and the houses there are similar prices and some sell very quickly many even before they go on Rightmove or in windows, some however take a while to sell and it's usually something like road proximity or strange neighbours, which tho you can't change I think you have to counter with positives etc.
I'm guessing you don't want to post a link ?

I would lower the price as well - i think prices are going to continue to drop over the next few months.

Is the house typical of the area or a larger and more expensive property? If the latter, they typically take longer to sell. If she has been there a long time does it need updated and should she think about reducing the price to generate more interest?