House on market for 5-7 years

[EezyOozy]

Hello all,

Can anyone think why a property would on the market for this long?

We've seen this:

2 Douglas Terrace, , Lockerbie, DG11 2DZ
www.rightmove.co.uk/property-for-sale/property-50637613.html

Fits our requirements... the home report is all 1's but is dated 2013?! Zoopla (listing history) says the property has been on the market since 2013 and rightmove says 2015. Im going to ring the agent tomorrow and investigate.

Maybe the sellers don't really want to sell?! Maybe you guys can see something I can't?

My mums house was on the market for 2-3 years because they were asking too much for it. They probably paid too much for it when the bought it, then wanted to make money on it when selling ... eventually they accepted a low offer.

But 7-8 years ?!!

The nearby sold properties would suggest it is massively overpriced for the area?

It's very expensive for the area.

I've just clicked onto the rightmove "nearby sold prices" thing. Yes it is overpriced ... it's detached and all period features ... but even so, still ££££

It's lovely, but very close indeed to a busy main road, which might put buyers off? On streetview the right hand garden wall is basically on the A-road.

a divorcing couple have been told to put the house up for sale but one or both are stalling??. But if it's overpriced, then.......... that'll be it!

I think it's lovely! 400k for that lovely house? I don't know the area but it must be shit.

I looked at a house that had been on the market for over four years. The seller just wanted too much for it - nice house on busy corner with one bed cottage. Needed work though and she just would not accept the price was too high. Still don't think it sold, but it's no longer on the market.

That’s a long time but it’s generally because the sellers won’t budge on price.

If somewhere doesn’t sell then it’s either overpriced or the owners don’t really want to sell.

Anything to do with the plane that was brought down there by Libya?

It might be somebody's second home or an inheritance and they're not bothered if they sell or not. Is it empty.

It's a LOT of money for Lockerbie.

@tara66 what is your comment? Sherwood crescent was demolished..

It’s clearly substantially over priced.

This one is also up for sale. Fifty grand cheaper and one bedroom more.

The owners won’t be budging on price, and possibly even fucking with anyone buying trying to get as much as possible.

www.rightmove.co.uk/properties/86334001#/media?id=media0

Sorry this one

I remember Sarah Beeny saying to someone something like "I've never heard of a a house not selling, but I have heard of a house being overpriced"

I would say, looking at the timeless interior design and very high spec that has been put into the house you linked to, that it's been a very much loved, long term, possibly family home. All the windows, doors, Aga, kitchen, cabinetry etc have been done with the mindset of staying there very long term. So maybe it's a hard one to part with for very sentimental reasons.

@Bluntness100

www.rightmove.co.uk/properties/86334001#/media?id=media0

Sorry this one

This one is lovely op, very much more modern/neutral too but still period features etc. Love the double garage too!

The estate agent has an investment arm which offers part exchange to people who want to buy before they've sold. They have several properties listed for sale that have been on the market more than 2 years. My guess is that the investment company bought this house and is happy to wait for the local prices to catch up with the profit they want to make.

@ByTheStarryNight

The estate agent has an investment arm which offers part exchange to people who want to buy before they've sold. They have several properties listed for sale that have been on the market more than 2 years. My guess is that the investment company bought this house and is happy to wait for the local prices to catch up with the profit they want to make.

There’s no sale history, so it’s been owned for a long time by the same people. I am not sure how long but I think it’s over twenty years at least, so this isn’t owned by an investment company, it’s someone’s home.

It’s the price. One that needed cosmetic renovation on the same road went for 150k last year.

It’s likely at least 100k over priced. And whomever owns it, ain’t selling for that amount.

What’s with the baskets on the kitchen ceiling 😄

@tara66

Anything to do with the plane that was brought down there by Libya?

There is a house I recently looked at with a similar issue.

It is reasonably priced and in a nice location, but has been on and off the market several times over the last 10 years.

I asked the agent why. She told me that they have actually sold four times, but refuse to look at potential properties until they have sold, refuse to go into rental and just pull the plug on a potential sale if they can’t find what they want.

It has apparently gone through survey four times and each time the potential buyer has ended up losing both a survey fee and any legal fees.

I wonder if people realise the potential blight to their property caused by such behaviour.

I was interested in a house a few years back, advertised on RightMove. When I contacted the estate agent to arrange a viewing, they sighed heavily and told me that the sellers weren't allowing viewings and had rejected all offers. They clearly didn't want to sell, but kept saying they did, and insisted that the agents kept advertising the house for sale.

Agents were fed up, as it being on the market so long reflected badly on them. About a year later, it was taken off the market - unsold.

I'd see what the situation is with the seller. Is it rented out? Some sellers keep it on the market while is is let making viewing difficult. The Home Report doesn't need to be updated until an offer is accepted so I guess they can keep it at that price unless they decide to drop it. That said, the price will likely be out I'd date. Sellers could be stubborn and in no rush to sell until they get the price they want. Best ring the agent for a chat. Good luck!