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Original poster

Anyone else trying to sell their house?

555 replies

Permanentlyfrazzled · 28/07/2023 14:52

How many viewings are you getting?

Fourth time on the market in 9 months due to multiple chains falling through and feeling very disheartened. This time we've gone on at a 50K reduction from our previous asking price (which we achieved multiple times) but we recognise that the market has changed.

Despite a massive reduction viewings seem really slow. We've had 4 viewings in just under four weeks and one second viewing, but no offers.

How is everyone else getting on? Is it just the market at the moment? I'm trying to tell myself that it's the mortgage rate rises and the summer holidays.

We can't afford to reduce again as we won't be able to buy. House prices in our area aren't coming down as quickly as we've reduced.

We are in Surrey. Thank you!

OP posts:
Potaytoe5 · 28/07/2023 15:02

On the market for 6 weeks, we dropped the price by 7% after three weeks with only one viewing. Getting two viewings a week right now.
Very different to how it was even a month before we listed.
It is definitely the market. I'm in the Midlands.

Original poster
Permanentlyfrazzled · 28/07/2023 15:03

Potaytoe5 · 28/07/2023 15:02

On the market for 6 weeks, we dropped the price by 7% after three weeks with only one viewing. Getting two viewings a week right now.
Very different to how it was even a month before we listed.
It is definitely the market. I'm in the Midlands.

Sorry you're in the same boat. I hope you hear an offer soon!

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Potaytoe5 · 28/07/2023 15:13

It's tough. Main problem is the houses we want to buy are not dropping their prices and hanging on for months and months.
The moment someone reduces, it sells, so it's a bit of a silly situation.
We can't afford to reduce any more, although we've priced very competitively right now!

Original poster
Permanentlyfrazzled · 28/07/2023 15:15

Potaytoe5 · 28/07/2023 15:13

It's tough. Main problem is the houses we want to buy are not dropping their prices and hanging on for months and months.
The moment someone reduces, it sells, so it's a bit of a silly situation.
We can't afford to reduce any more, although we've priced very competitively right now!

Yes, we are in exactly the same position. So tough. We are probably going to give it another few weeks and then pull it. We've been at this for 9 months now! Best of luck to you.

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Evenstar · 28/07/2023 15:21

Mine has been on the market since last November, I have just reduced the price again, so reduced by £80,000 in total. Viewing yesterday but they want to talk about it over the weekend as they think the living room is a bit small. They are looking at period properties though and they are not going to get a bigger room in that area in that style of property.

I would love to take it off the market but we have already moved 4 hours away and it is empty, I don’t want to pay to heat it over the winter as I am already paying full council tax as there is only 2 month’s exemption.

Original poster
Permanentlyfrazzled · 28/07/2023 15:25

Evenstar · 28/07/2023 15:21

Mine has been on the market since last November, I have just reduced the price again, so reduced by £80,000 in total. Viewing yesterday but they want to talk about it over the weekend as they think the living room is a bit small. They are looking at period properties though and they are not going to get a bigger room in that area in that style of property.

I would love to take it off the market but we have already moved 4 hours away and it is empty, I don’t want to pay to heat it over the winter as I am already paying full council tax as there is only 2 month’s exemption.

I really hope they come through with an offer for you, fingers crossed!

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Evenstar · 28/07/2023 15:27

Thank you, I am now at the same price as a house in the neighbouring road with one less bedroom so hoping I have done enough now 🙏🏻

Original poster
Permanentlyfrazzled · 28/07/2023 15:29

Evenstar · 28/07/2023 15:27

Thank you, I am now at the same price as a house in the neighbouring road with one less bedroom so hoping I have done enough now 🙏🏻

That sounds promising! Best of luck to you.

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UserRose · 28/07/2023 15:48

I was told by an estate agent that this is the slowest time of year for viewings and things really pick up in early September as school hols are over and from Sept there’s a reasonable chance of moving in by Christmas.

TurquoiseDress · 28/07/2023 16:11

Potaytoe5 · 28/07/2023 15:13

It's tough. Main problem is the houses we want to buy are not dropping their prices and hanging on for months and months.
The moment someone reduces, it sells, so it's a bit of a silly situation.
We can't afford to reduce any more, although we've priced very competitively right now!

Yes we're in exactly this situation!

Getting offers circa 10/11% of asking but that is too low for onward house purchase

We are hoping to upsize from 2 bed to 3 bed semi...

Original poster
Permanentlyfrazzled · 28/07/2023 16:16

@TurquoiseDress that's positive you're getting offers, even 10% below. Hopefully a more reasonable offer is on the way. How long have you been on the market?

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Original poster
Permanentlyfrazzled · 28/07/2023 16:17

UserRose · 28/07/2023 15:48

I was told by an estate agent that this is the slowest time of year for viewings and things really pick up in early September as school hols are over and from Sept there’s a reasonable chance of moving in by Christmas.

Yes, not a good time to sell. We've been really burnt by when we've gone in the market...week of the Truss announcement, Jan, March and then June when the rate increases were announced 😭 Might give our agent their notice so that we can go back on with a new agent in September.

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GasPanic · 28/07/2023 16:22

The market is down in general and coupled with that it's a poor time in the year to sell.

That said, I doubt whether it will be that much better in September, rates will probably increase by then.

I would get my onward purchase to drop the price so I could drop mine.

Original poster
Permanentlyfrazzled · 28/07/2023 16:25

GasPanic · 28/07/2023 16:22

The market is down in general and coupled with that it's a poor time in the year to sell.

That said, I doubt whether it will be that much better in September, rates will probably increase by then.

I would get my onward purchase to drop the price so I could drop mine.

Thank you for this. Houses in the area we are looking at are selling strong, in some cases well over the asking price. We've been in 4 bidding wars! We reduced by £50K 4 weeks ago and can't afford to reduce again or we won't be able to move. As it is at our current budget anything we buy will be a step down :(

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MyNewNewlife · 28/07/2023 16:29

Just sold, been on a month but 5% below asking.. its also a relatively cheap house in the Midlands. Had 8 viewings in total. Perhaps its more difficult in the south?

Original poster
Permanentlyfrazzled · 28/07/2023 16:32

MyNewNewlife · 28/07/2023 16:29

Just sold, been on a month but 5% below asking.. its also a relatively cheap house in the Midlands. Had 8 viewings in total. Perhaps its more difficult in the south?

Congrats! Glad you've managed to sell. I think our price bracket is particularly squeezed by the mortgage rises as well as being in the South.

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maxi2100 · 28/07/2023 17:31

Buying power is the problem. Last year if you could afford a £2k month morgage that would have got you a house worth about £480k. Now £2k a month gets you one worth about £300k so a 37% drop in what you can afford. So you can see knocking 5 or 10% off isn't going to make much difference.

Original poster
Permanentlyfrazzled · 28/07/2023 17:32

maxi2100 · 28/07/2023 17:31

Buying power is the problem. Last year if you could afford a £2k month morgage that would have got you a house worth about £480k. Now £2k a month gets you one worth about £300k so a 37% drop in what you can afford. So you can see knocking 5 or 10% off isn't going to make much difference.

Yes. Our buying power has significantly reduced. Our budget for our next home has reduced by 150K :( That means our next family home will probably be a step-down, not even a side step. Difficult market for everyone.

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Original poster
Permanentlyfrazzled · 28/07/2023 18:07

I think the worst thing about being trying to sell your house in a cold market is trying to keep the house clean in between spaced out viewings, not easy with a child and a dog! Although the house has never been so clean 😂

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Potaytoe5 · 28/07/2023 19:16

Permanentlyfrazzled · 28/07/2023 18:07

I think the worst thing about being trying to sell your house in a cold market is trying to keep the house clean in between spaced out viewings, not easy with a child and a dog! Although the house has never been so clean 😂

This 100%! 😂
We don't have a dog but DC2 is feral so might as well be treated as a pet.
We had to rent a storage space to get it to look semi decent!

AuditAngel · 28/07/2023 19:34

We are going to put to market shortly to downsize. Hoping to go down by 1 bed and one reception room and clear £123k mortgage. Hoping to stay in same area for school.

also dreading keeping it clean for viewings

Original poster
Permanentlyfrazzled · 28/07/2023 19:36

AuditAngel · 28/07/2023 19:34

We are going to put to market shortly to downsize. Hoping to go down by 1 bed and one reception room and clear £123k mortgage. Hoping to stay in same area for school.

also dreading keeping it clean for viewings

Ah wishing you the best of luck! Not easy especially during the summer holidays!

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Original poster
Permanentlyfrazzled · 28/07/2023 19:38

@Potaytoe5 haha this made me laugh out loud. Our DC1 someone managed to get hold of some felt tip pens that were under the spare room bed and create some 'artwork' on the dresser. Swear you have to have eyes in the back of your head!

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Original poster
Permanentlyfrazzled · 28/07/2023 19:40

We actually did a massive deep clean before we went on holiday when we went back on the market, gave the keys to the agents and asked them to get as many viewings in as possible in the 10 days we were away. Only one booked in whilst the house was empty and sparkly, 2 requests for the day after we got back and had packing/dirty knickers everywhere! 🙈

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citygirl1234567 · 28/07/2023 22:28

Also in Surrey. On the market for a week and had open day (9 people, no offers), another person a few days ago who almost made an offer but couldn't make it work financially (planned extension). Another 3 viewings so far for next week.
We 'sold' at list price last year. Agent suggested the same, but I have mildly dropped it.
Interestingly, NONE of the first batch of viewers came off rightmove. In agent's words.. 'it's quite common at the moment'