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Stay with EA or take house off market

7 replies

tempusername2018 · 06/11/2018 16:57

My house has been on the market for 8 weeks. In the first few weeks I had 5 viewings, two second viewings and one low offer which I didn't accept as need to move to a more expensive area. The other second viewers loved the house and, I'm told, would put in a fair offer but haven't sold their own property. I've seen a house I like and could afford and this hasn't yet had an acceptable offer made on it. On the EA's advise I lowered the price a couple of weeks ago but have only had one further viewing.
I'm feeling so despondent and unsure what to do now. The market is so slow here and I'm confused whether to take mine off the market now and wait until Spring? Or do I keep it on the market in the hope that these interested buyers will sell theirs? If it stays on much longer it will start to look 'stale' I can't afford to reduce further as would then not be able to buy. Any suggestions anyone please?

OP posts:
Daisy2990 · 06/11/2018 17:04

I mean this bit in the nicest way, but you can't expect people to make an offer based on what you want to buy -- the house is only going to be worth what people want to pay, not what you need. If the market is slow, you might have to consider lowish offers, and then make lowish offers on your next home. We have just had to do this.

How does it compare to others within half a mile or a mile?

Personally, I would also disregard talk of offers from anyone that hasn't sold yet. Until they have sold, they are not able to fix a budget. They might find they have to drop the price on theirs, and then offer accordingly.

Personally I would take it off over Christmas because I don't like the idea of having viewings with presents out and so on. If you're not too bothered, I'd leave it on -- people will still be looking. You could always change agents if you're worried about it going stale?

tempusername2018 · 06/11/2018 17:15

Thanks so much Daisy and you're right. The offer the potential buyers would make will be around what the price is reduced to. TBH I'd accept even lower now. The fact is that I'm not getting people to view. There's no striking issues once they're in so it's got to be the price. It's fairly rural so no properties near or comparable.
I know if I reduce it even more in such a short period of time it will make people wonder what the problem is
I'm tied in to this EA for 20 weeks unfortunately but can obviously take it off the market if I decide to. I just cant work out what to do for the best

OP posts:
Troels · 06/11/2018 17:18

If you have dropped your price to the offer you got, did the EA contact them to ask if they are still interested?

Alexalee · 06/11/2018 17:31

Boxing day is apparantly the busiest on rightmove... so I wouldn't take it off

Daisy2990 · 06/11/2018 17:35

What are your photos like? Do you have a floorplan? We viewed loads and found that we would skip straight to the floorplan when looking on Rightmove to save time. If there was no floorplan we just moved on.

Definitely get your EA to chase that original offer as well. Did you get any feedback from the other four?

I think getting people to view at this time of year is tough anyway. In your situation, I'd be tempted to run out those 20 weeks through Christmas/ New Year and then change agents and refresh the pics (unless you don't want people viewing over the festive period, which is understandable).

tempusername2018 · 06/11/2018 17:35

Sadly I don't believe everything the EA tells me. However they do say they are in touch with the people who are interested to check if they've sold theirs yet. I'm pretty sure they'll know mine has been reduced from seeing it on Zoopla. I dd ask EA to contact the first people who offered but they say they were unable to make contact as couple not responding to calls or emails.

OP posts:
tempusername2018 · 06/11/2018 17:39

Photos, floor plan and description are great. The people who didnt view a second time said it was just slightly too small for their needs but all said they'd loved the house

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