Looking for opinions etc from those more experienced than me

[MissMarplesNiece]

I am trying to arrange the sale of my DM's bungalow. Typical old people's home, needs new kitchen & bathroom, very old fashioned decoration. EA suggested asking price of £135,000. First viewing is by 2 builders. Since I was last there, beginning of September, the bedroom ceiling is leaking (problem with valley of roof that was repaired 2 years ago), they spotted something that might be subsidence, and a "bowed" lintel over the sitting room window.

They offered £105,000. I counter offered £120,000 - kind of expecting them to up their offer a bit, but they have said no, while leaving their offer on the table.

I'm at a loss what to do - the roof is being repaired (again) sometime next week; I've just paid £800 water rates and a £1000 Council Tax payment. It is affecting my mental health I just see no end to it. I want rid.

Why such big water and CT bills?

I agree with PPs that you are new to the market and the builders were hoping you would take their word on the work needed and bite their hands off to accept their "generous " offer.

I'd discuss the price with the family and suggest that you might change the price to OIEO £120,000 after a few more weeks if there are no better offers on the table. Hopefully having a plan in place will help you feel more in control of the situation and reduce the toll on your mental health.

🤞for a good result for you and please prioritise your health over money as far as possible 💐

If your DM is no longer living in the house then bills should come down. CT varies from council to council but most allow a rebate for an empty property for a specified length of time, after which it reverts to usual (or double to encourage sale or occupancy). Naturally if it's empty you'll have the water turned off and heating turned low, enough to keep it above freezing when temperatures drop.

You can effect an insurance policy specific to empty properties. Usually an inspection every so many weeks is part of the terms and conditions. With your DM moving out her previous policy won't be valid, so it's worth ringing her insurers to change the policy.

I would get the property inspected just to check whether the issues mentioned by the builders are actually genuine. Subsidence is serious so you'd want to ensure that it is sound. I would take a spirit level to check whether the lintel is in fact bowed - lintels are very robust so I'd be surprised.

It's very early days yet so I'd be patient for a bit longer. Ask your estate agents for feedback from any viewers who don't offer, see what they say.

Please don't worry about it, it will all be fine in the end

The people who viewed it have come back with a revised offer of £113,000. There are two more viewings tomorrow.

That sounds promising! Hopefully someone else will also want it an there will be a bidding war up to £120k and it will be under offer by Monday.

If it needs a lot of work you may find you get more for it at auction. Houses seem to be doing well there as they attract a high volume depending where you are based. Those builders can be sent the auction link too so you don't lose them as such.

That’s a good update.

So after you have feedback from today’s viewings, you should be in a position next week to either accept the 113k or a higher offer if you get one from the people viewing it today. The EA will be able to tell today’s viewers that the house has already received a good offer so they will know there is no point making a very low offer.