No viewings 3 weeks on market, not even a whiff

[PumpkinChai]

So firstly I need to state we are with Purple Bricks (bracing myself for a lot of "did you not read their reviews? ... yes but 5 friends sold very successfully with them last year so went on their recommendation rather than looking around)

We haven't had any viewings. No one has even inquired or asked for further information.

Is this usual for 3 weeks on the market? We are first time sellers so not totally sure!

We have an actual estate agents coming over tomorrow, did a bit of research this time ourselves, to discuss going on the market with them too.

Is it too early to do this?

The estate agent agreed with PB's valuation (as did other agents too, some said we could go higher). So it makes me think maybe the Rightmove advert just isn't appealing.

A few estate agents have said we live in the sort of house that would struggle on Rightmove as potential buyers would not be able to appreciate the parking, garage, location and finished spec of the house online and need an estate agent to push them to do a viewing.

Is that just their sales tactic though, to get us to sign up with them?

I guess what I'm asking, is our house actually more likely to be overpriced rather than needing an actual estate agent?

We do need a quickish sale, as selling due to financial difficulties.

Only 2nd time I've asked for assistance.

So do we need to search for an EA that gives an accurate valuation? None seem to want to, how do we find that?

I used PB and had no viewings for the first 4/5 weeks maybe even longer - then had new photos done, changed the main image to an internal photo instead of front of house and suddenly the viewings came flooding in. I had all sorts of worries about the price etc etc but we sold for full asking in the end. Change the pictures around and also patience is key!

Thank you @lollypop345 just wish I had patience! I am a proper stresshead as we are moving due to sudden financial difficulties.

I have uploaded some new photos actually today, so maybe that will work out for us.

We have listed the property with a local agent so new photos on there I suppose, and they are leading with an internal image.

Did ask him if we should go ahead with the bathroom and downstairs toilet plans that we were had before we were looking to sell, and he said not to bother as we should easily sell?

It really is stressful, I just feel so clueless and worried

I think I would encourage the estate agents to tell people you're not moving because of the neighbors because that would be my first thought. The exterior shot is really bad and needs to be redone. It's a sort of grainy crappy shot. It's not an ugly building from the outside but then angle and quality of the photo are awful. You paid 257k 2 years ago, I'd think you'd be lucky to get 275k now. I'd take it off the market over lockdown and take the time to get proper photos down and interview agents then put it back on after lockdown ends (hopefully).

We didn't view any purple bricks houses because of issues in the past after the offer is accepted.

That is because I took the bloomin photo @Rockpapershoot - havent a decent camera but feedback on here was to show the parking area.

I think we will just have to slash the price to sell but I am stressed that then we will still have debt on our heads from the mortgage because the early repayment fee is so large

You need a quick sale so you need to be competitive and hope for a bidding war.

If I were in your position, I would put it on with a lower asking price and concentrate on a good quality buyer that completes.
You don't want to run into valuation issues and inflated prices normally end up in reductions at the survey stage.

If you are confident in price, then you need to update photos, keep it look great for viewings and make sure the EA really sells its benefits.

Can you port the mortgage so you can avoid the early repayment fee?

We cannot afford our mortgage anymore though @Rockpapershoot

We have looked at multiple options and best thing for us to do, if we want to remain home owners, is to sell, pay the fee, and buy somewhere significantly cheaper in a different area

It’s either the price or the agent. If you try a different, good, local agent then if you get no viewings still then you’ll know it’s the price. To me I think it looks nice but the bathrooms look a bit dated, so I would be budgeting at least 10k to replace them. I would remove the photo of the downstairs shower room completely and re-do the upstairs photo, removing all the blue stuff and accessories. The kitchen looks great and I think the bedrooms are fine.

It is not competitively priced, you may get away with that if you had a long time to sell it and a VERY buoyant market...

As you need to sell fast it should be 10% below the competition.
Sorry op.

Or rent it out, OP? I take it you've factored in all the costs of moving. If you have a hefty ERC, it feels like you're throwing quite a lot of money away Sorry to hear about the change in finances. Must be very stressful.

I'm not sure where we would then live if we rented @NoPrivateSpy

We have a 5% interest rate and another 3 years locked into it. Both been so effected by Covid with work and other personal circumstances that we have been hit hard. Its our own fault though, our family did warn us when we signed up to such a hefty mortgage that we would struggle if things changed.

You may not have to pay the early repayment fee even if you pay off a significant amount and "port" the rest. Have you spoken to the bank OP? If you haven't you definitely should. You may have more options than you think.

Oh I'm sorry, that's so hard. I'm sure you've considered everything. It's hard to advise without knowing the ins and outs. 5% is a high rate but hindsight is a wonderful thing. No one predicted this! And you're not in negative equity which is good.

I definitely think your house will sell, it's lovely. Have faith, OP. I live near you and there are far cheaper areas that are still lovely. Lots of my local friends are moving further out to Suffolk and Norfolk.

@Rockpapershoot yeah we spoke to them already and asked the advice on an independent financial advisor, his advice was to sell and buy a cheaper house as we should hopefully be able to go from a mortgage payment of £1250 to £550pcm

Yeah its not something I completely want to lay bare as everyone already knows where we live so I'm sure I've been "outed" by a few friends / family maybe @NoPrivateSpy

@PumpkinChai

Hi OP. There is a website that will show you % of asking price achieved of each agent in your area. Sorry I can’t remember what it’s called. Should give some idea of whether their valuations are realistic.

I think it's looks like a sweet little family home. Might just be a bad time for it

Just wanted to pop on and say, we now have another agent and are having a flurry of views 😅

@lastqueenofscotland

Is the one next door to you for sale for £20k less? That could be a significant issue!!

Next door has a tiny kitchen. And is in far worse condition. It would cost a lot more than £20k to bring it up to the same standard.

Your house looks lovely op so I’m guessing it could be the price.