Anyone else trying to sell their house?

[Permanentlyfrazzled]

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!

@Omgwtafisthat Yes maybe we could do it, although I am not sure if anyone will sell us with such a discount.
But we could try, if it doesn't work we just pull out, and they will lose money on surveys etc.

@Potaytoe5 it’s that or you’re not sold, at least if you get an offer you can start making your next move which is better than where you are now. As long as you are upfront with your buyers, I wouldn’t let them spend any money on surveys etc. but then you can start bidding and see what you can get. Then as you say, if it doesn’t work for you guys you can pull out and nobody’s lost anything.

I have just pulled house off the market (after almost 3 weeks). Feedback was annoying... it doesn't have second reception room. Does no one bother reading the blurb or look at the floorplan? (The house has two receptions but one has been knocked through to make large kitchen/diner/sitting room. All they need to make it back to formal sitting room is a wall 🙄. Argh!

Oh no @citygirl1234567 , that's so annoying! I have the same setup with one large reception / living room, none of the people viewing said it was a problem!!

@Omgwtafisthat perhaps, but we could lose a lot of time like that, and if it doesn't work out the interest rates might be even worse!!

Grr… they are so annoying! 😠

@Twiglets1 Very! They keep coming here, gushing over the house, then offering so low. I know that it's not a lot less, but it's a larger percentage of our house as it's so cheap.

Honestly I would be totally sick of them after this latest development.
I wonder what their response will be to your counter offer of 195k? Not another viewing I hope! If they ask for another one, I would say No, it’s time for you to make a decent offer or stop wasting our time.

@Twiglets1 I am sick of them, our houe is genuinely lovely, yes the driveway could be better but we have a nice extended kitchen, fancy bathroom, plenty of light- really a lot going on for it.
I know it sounds silly but I am so sick of them that I'm not sure if I'd love them to live here!
I know it's just a house, but we've put so much hard work in doing it up, even underlay and carpets are all highest quality, most of them very new - all matched tastefully (I'm in arts so not bragging, it is colour coordinared!)!!
Arghgh!
Thank you... rant over.... no new viewings booked :/

Omg im annoyed for you! I thought they would offer 190k as well.

We just had the last of the viewers. I didn't bother going out tonight cause I just couldn't be bothered. They loved the house, live round the corner but rooms too small again!

A house in the same street has gone up for sale. Its another 3 bed semi, slightly different layout upstairs but same size. Original kitchen and bathroom (so around 24 years old), smaller garden and no view as its the other side of the road. Driveway isn't done either. Its gone on for offers over 149k which is 1k less than ours.

Agree with twiglets!

Totally get this! We had a couple at the start wanting to offer 25k less as she didn't like the kitchen! Its white gloss and only 9 years old. I would honestly struggle to spend 25k on this house unless it was towards an extension. I wouldn't have wanted to sell to them either.

@noodles20 Wow I would be annoyed! Our white gloss kitchen is 7 years old, looks beautiful still. We went with posh acrylic doors too.
I really feel like they're having us on, I'll be checking quotes for extensions tomorrow.
It won't be ideal but we could last a couple more years here, maybe.
Will be a pain with kids school if we move later but whatever. Unless they become reasonable, I don't care.
I know the estate agent's doesn't care if we sell it for 195 or 190, not much difference in their commission.
Don't even know why are they offering us so much less.

@Potaytoe5 the risk you have is that the market falls further over the next few months and that offer would then seem very good. You may find in a few months that offers are coming in at £175k for example as that reflects the market at that time. You are trying to sell in a falling market. Todays offers will be higher than later in the year.

@noodles20 our chain has collapsed twice because of difficult buyers, and both times there were signs from the start that they would be difficult! Have said that I will trust my gut this time. Honestly I know FTBs can be like this but I think they are showing their hand...

My husband has a construction business. All materials and labour has gone way up since covid (just like everything else 🙄) but if you're happy where you are, schools are good etc, then I would definitely look into an extension if I were you. If you could live on that same street/area just with a bigger house while the kids grow up, it could be worth the expense/hassle and the cost would balance out in the years to come maybe? We're relocating due to my husbands work and him working away the last 10 years. If his work was based down here where we live, I'd be looking at the extension!

@Fretfulmum Do you really think that the prices will go down so much and so quickly? Call me naive, but I don't think my house worth about £210k-£215 in June will go down to £175k 6 months later or so.
I hear a lot of people getting low offers and just waiting for better offers.

@noodles20 It's ok here but not my dream. We could stay put but I just really don't want to be bothered with more building work getting done :(
It's one of those I guess, we don't HAVE TO move, but it would be so much easier!

I got out a calculator and that would make a drop of 17% in 6 months.
Surely unlikely.

@Potaytoe5 it’s not about what you think your house is worth and the % drop from that. It’s about what buyers think it’s worth in a falling market. A seller always thinks their home is worth more than a buyer. If buyers think prices may fall 10% in the next year, they may reduce what they think it’s worth today by a further 10% to make up for future short term losses. Eg they think it’s worth £190k today but offer at £171k as that’s a 10% reduction to account for a falling market as that is what they think it’ll be worth in 1 years time. In a buyers market, buyers are looking for a bargain.

@Fretfulmum surely if the house is a bargain in comparison to other similar houses it's still a bargain? We already dropped the price to get ahead of the falling market. None of the houses we'd be interested have done so yet. I think it's fair to say some buyers offer lower than others. Maybe they just don't like our house all that much.

We've got someone viewing today and another 2 Saturday, all fingers crossed for an offer!

Reading this thread it sounds like you all have lovely houses for around 200k, I would bite your hand off for one of those! I'm just outside of Brighton where house prices are still ridiculous.

Good luck, @Skipskipperroo !
We're in Midlands, you can get a lovely 4 bed detached house for about £400k 😮

I am still annoyed at our potential buyers, although DH talked to accountant and we could theoretically still afford moving. I just don't like them now 😂

Good Luck @Skipskipperroo

@Potaytoe5 maybe your potential buyers will increase their offer slightly after your last response. They clearly do like your house after viewing it 4 times! But also clearly do want to drive a hard bargain. Which could work if you are also able to get a big reduction on the house you buy.

@Twiglets1 they've only been 3 times, they'd like a 4th one....
At this point I'd be worried that even if they do offer higher, they will try to reduce it last minute before exchange.

I would have NEVER thought to be that cheeky!
I spent more time (again!) looking at similar houses, really really tatty old stuff at the price they are trying to achieve. Of course that is assuming those houses would sell at full asking price... but even at the price we're trying to get, we still have the nicest house by far :(

I wonder whether we'd get more viewings in a couple of weeks, when September comes?

Thank you! If I were in your position I wouldn't take the very low offer, I personally feel like they are taking the mic a bit. So yes house prices could fall but what if they don't significantly? Then you would have settled for a very low offer.