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Original poster

Unsure whether to sell now...

21 replies

kirinm · 23/02/2022 12:32

After many years of hoping to be at the point we could sell our place, we finally got an EA round. The entire place has been renovated except one room which really needs it. We had people lined up to start in the next couple of weeks but they've disappeared off the face of the earth.

EA says do a "soft launch" inviting people on their books to look at the place as is and if no interest wait until the room is finished and then properly list it.

Is this standard? Is this happening in other areas? It feels a bit rushed and we weren't expecting that to be a recommendation. All starting to feel a bit real.

If that is a standard approach, do we get other agents around first? I've never sold a house before so no idea what is normal or not.

OP posts:
DenholmElliot · 23/02/2022 12:54

EA says do a "soft launch" inviting people on their books to look at the place as is and if no interest wait until the room is finished and then properly list it.

That sounds like a sensible approach to me.

How bad is this one room that it will completely put anyone off buying the house? Perhaps its not as bad as you think.

Starseeking · 23/02/2022 12:59

If your house has been renovated apart from that one room, none of your potential buyers will care! If you have a family home ready to sell, people will bite your arm off for it, given the acute shortage of homes currently on the market.

Original poster
kirinm · 23/02/2022 13:17

It is the bathroom and it is terrible. initially the EA said it was a problem and "didn't work" but said the longer he was here, the more he felt a soft launch would work.

It is a difficult space and has taken us quite a while to work out how to do it and I think a first time buyer might be find it off-putting.

OP posts:
Blackbird2020 · 23/02/2022 13:21

As they say, everything will sell at a price. Do you want to sell relatively quickly, and do you need to sell for a minimum price to get the budget for the next place?

Original poster
kirinm · 23/02/2022 13:27

@Blackbird2020

As they say, everything will sell at a price. Do you want to sell relatively quickly, and do you need to sell for a minimum price to get the budget for the next place?
We aren't in a rush - in fact, the push for a "soft launch" is a bit too fast for us. Life is pretty hectic. We do need the best price we can get but are pretty realistic about what that is.

But there is absolutely nothing coming on the market for what we will be looking at - and the EA told us that!

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AmberRoseGold · 23/02/2022 13:31

Why would you not do the bathroom? Much easier to sell as a complete ready to move in package? Especially if it is a difficult to visualise space. The estate agents’ commission will not change much even with a large difference in price but surely you would want to maximise the price? (Disclaimer: I still need to do our bathroom but am very much channeling the ostrich)

SpiderinaWingMirror · 23/02/2022 13:41

Put simply
1), could you sell as is?
2) if yes, would the price hit be more than the cost of the bathroom?
3) are you cashing in and moving to rented or buying in the same market?

Blackbird2020 · 23/02/2022 13:44

Hmm… Would you be happy to rent for a while? You could surprise yourself and find a buyer for this place quickly. Then you could enter the market for your next place as a chain-free buyer. So much less stress and will be an advantage for you in a sellers market…

Blackbird2020 · 23/02/2022 13:48

But to be honest there isn’t a right or wrong re the bathroom. If you’ve never sold & bought before, let me warn you, you’re about to get stressed to the max in ways you wouldn’t have thought possible, regardless of what you end up doing re the bathroom Grin

Original poster
kirinm · 23/02/2022 14:00

@Blackbird2020

But to be honest there isn’t a right or wrong re the bathroom. If you’ve never sold & bought before, let me warn you, you’re about to get stressed to the max in ways you wouldn’t have thought possible, regardless of what you end up doing re the bathroom Grin
I can already feel my anxiety levels increasing. Just the vague feeling of being pushed to make a decision is kicking things off!

When we bought, the market was hideous and it was always best and final, 20 people viewing at the same time etc. I know that is what we will be going into and it was stressful when we weren't trying to sell something too!

OP posts:
SilverHairedCat · 23/02/2022 14:02

Is the bathroom functional? Is it clean? Can you do anything quick to freshen it or is is a building site?

Original poster
kirinm · 23/02/2022 14:05

@SilverHairedCat

Is the bathroom functional? Is it clean? Can you do anything quick to freshen it or is is a building site?
Its more a building site now. Literally were expecting to rip it out in the next week or so. We are speaking to other people to do the job and ideally, if we could get someone who we trust to do then that would be our preference. But getting a reliable tradesman to turn up to quote, prepare a quote and then agree to take the work is really difficult at the moment.
OP posts:
Blackbird2020 · 23/02/2022 14:09

Then sell when YOU are ready. As much as we all try to make a buying/selling situation work to our advantage, there really is no gaming the system. 101 things can go awry, and almost always do!

My gut is that the agent just wants you on their books, and realised he might have lost you at the first mention of how crap your bathroom is. He just wants a sale.

You, on the other hand, I’m guessing aren’t at that desperate stage yet of needing to sell your unfinished property in order to move. Take your time and do it at your pace, especially seeing as you could use it to finish the last room….

Blackbird2020 · 23/02/2022 14:12

And also get some other agents in…. Don’t go with the first one you see.

SollaSollew · 23/02/2022 14:18

I think agents are quite desperate to get houses on their books at the moment and will tell you any old thing because they know they are so short of properties.

We are nearly finished a renovation project (2 bedrooms to re-plaster and decorate and finish re-carpeting) it's scheduled to start next Thursday. We asked the EA to value and he was trying to push us not to bother with any of it and just get it on the market.

He did agree that it would potentially mean slightly lower offers than if it was totally finished. I always think though that if people are looking for a finished house they don't want to do work or people that do will want a total redecoration/renovation project not just one or two rooms. We've even already paid for the carpet!

In the end as we're not desperate to move we're going to wait, while we might sell more quickly now I am comfortable that we wouldn't get so much more selling now that extra time in rented will make it worth while.

Original poster
kirinm · 23/02/2022 14:19

Yes, thanks. I think you're right. They were quick to start mentioning showing us houses, using their financial advisers, conveyancers etc. It is all a bit over the top when I told them we didn't really want to put it on until the end of March / early April due to needing to wait until then to start looking ourselves.

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Kyrae · 23/02/2022 14:41

I think I'd wait until the bathroom is done, more buyers will be interested in a fully renovated house than one needing a new bathroom.

Speaking from experience, it's pretty stressful trying to keep your house clean and tidy for showing people around every day, you don't feel totally at ease as you have people arriving with a few hours notice, you don't want to leave washing out so you're washing your clothes at certain times, making sure dishes are done after meals etc, it is pretty stressful and if you're already not totally relaxed due to the bathroom needing sorting I think it'll just add to the stress.

Don't let the estate agent rush you, they want you to sign up now as they'll be worried you might sell through another company! you're better off doing it when you're ready :)

Starseeking · 23/02/2022 14:45

Ohhhh, on hearing it's the bathroom that is practically being ripped out, I'm reversing my previous advice. Work to your own deadline, and don't be rushed. I would however put in as basic a suite as you can get away with, and not go overboard with the spend as you are unlikely to get it back, given you are selling so soon.

Calmdown14 · 23/02/2022 14:46

I don't really understand the dilemma. It sounds like you are in no rush and would rather do the work but it's taking a bit longer than planned?
I think what you might lose in value for an unfinished project isn't worth it. Presumably the rest of the house would command a premium and you want to benefit from that.
There's an episode of Location, location where Kirstie describes a property as an estate agents nightmare because it is mostly done so won't appeal to those who want a project and the unfinished jobs (mostly bathroom) will put off those looking for move in condition.

I suspect he has started by being honest then, realising it's a good property and may well shift given the shortage, wants to chance his arm on the commission.
Basically it's not his normal advice but these are funny times so you might get away with more than normal if you decide you can't face doing the bathroom (but to do that it needs to be while demand outstrips supply)

Original poster
kirinm · 23/02/2022 15:35

@Calmdown14

I don't really understand the dilemma. It sounds like you are in no rush and would rather do the work but it's taking a bit longer than planned? I think what you might lose in value for an unfinished project isn't worth it. Presumably the rest of the house would command a premium and you want to benefit from that. There's an episode of Location, location where Kirstie describes a property as an estate agents nightmare because it is mostly done so won't appeal to those who want a project and the unfinished jobs (mostly bathroom) will put off those looking for move in condition.

I suspect he has started by being honest then, realising it's a good property and may well shift given the shortage, wants to chance his arm on the commission.
Basically it's not his normal advice but these are funny times so you might get away with more than normal if you decide you can't face doing the bathroom (but to do that it needs to be while demand outstrips supply)

I don't think I react very well to pressure and I felt a tiny bit pressured by him. But we definitely do want to get the bathroom finished. I don't like Kirstie but I really do agree with what she's said. Everything else in the place is done except the bathroom. If I was buying, I'd wonder why it wasn't done and because it is an awkward space, I'd probably assume it was because it was too difficult / design problems etc.
OP posts:
Calmdown14 · 23/02/2022 16:08

He probably is applying the pressure. As someone else said, the difference in his commission based on the asking price for complete or incomplete bathroom will be minimal.
I also agree that you should do it to an appropriate standard for the house but not go over the top with fittings that you'll never recoup back

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