Selling a house after a month

[Newnams]

Has anyone ever done it, can I reasonably ask the agent to put it back on for the previous asking price or does it have to be the price I paid.

@Britpop123 not sure that “i’m liking” that my own estate agent gave me a push at last minute and told lies, to get the first time buyer into my house but no one cares about that, so I don’t care.

And the issues are all obvious, I just bit off more than I can chew, someone with 5years and a bit of money can sort it, I don’t have that luxury.

@SpringSprungALeak no totally not well enough to oversee the renovations thats why i’ve got to go.

Estate agents always pressure buyers after a survey or faults are found to proceed but sensible buyers only proceed with caution or pull out.

An EA recently tried to pressure me into buying a flat with cladding but I know better and pulled out.
You should never let anyone pressure you into making big financial commitments or any commitments whatsoever.

I am sorry you are unwell and wish you a speedy recovery but I am afraid you are wrong OP.
It was your responsibility to have done your due diligence before going ahead especially when you discovered the issues rather than taking the word of an EA and now victimising yourself.

Any buyer interested in your property will definitely ask you a bunch of questions, do a survey and ask for a reduction or definitely not proceed especially with how fast you’re selling.

And if you are asked questions regarding the house condition and you lie, you risk being sued for misinterpretation.

@Dandelion24 you’ve just contracted yourself by saying I didn’t apply due diligence to the estate agents lies, but that someone could sue for doing the same as what was done to me.

you are also wrongly asserting that I am going to tell lies about the condition of the property, and being very judgmental without having a clue about the full circumstances that I won’t be sharing here.

Just to answer the original question, you can put the house back on the market at any price you like. The price you paid doesn't really matter. An estate agent can advise you on what they think it's worth and what they think you can realistically sell for. Whether you can sell for more than you paid and get some of your costs back will really depend on where you are - the way the market is at the moment, there are areas where prices are going down, up and not moving. You will definitely have to answer questions about why you are moving so quickly though - even if it doesn't come up at the start, the info about when you bought will come up in the conveyancing so you won't be able to hide it. I would think it won't necessarily stop people buying, but you might find they are more inclined to get Level 3 surveys etc to investigate whether there is anything wrong with the place.

I think you should leave it a few months and see how you feel, rather than jumping straight away.

Our NDN hated her house as soon as she moved in, and put it straight back on the market, but it didn't sell so she thought she'd give it a go and see if she grew to like it. That was 18 years ago.....she's still there!

If you're not happy put it on the market-I didn't know the 6 month rule for mortgages but by the time a sale goes through its likely to be another 5 months anyway.
I would say let it grow on you- moving is a big change and it does take a while to feel settled but if ts more practical readons like the location isn't really suitable anymore and you can't afford the work that needs doing then move

Can you afford to loose the stamp duty, Solicitors fees, moving costs etc and come out with less than you entered with?

This is my thinking.
You will obviously still have to live somewhere, so are you looking to buy something else instead ?
By the time you've paid out all that, wouldn't it be as cheap to do the minimum necessary on the house ?

I also have to agree with everyone else - you are not going to get people queuing up to buy a property that was sold just a month ago. It just screams that there is some major issue with it. If you can't afford to pay for some work, then I can't see how you can afford to take a big loss on selling it (even before your costs). It doesn't make sense.

It’s not judgment but advice based off the information you’ve told us here 🙁
And you can’t sue for misinterpretation if you were informed on the issues before you exchanged so I was not contradicting myself.

When I say due diligence after the fact I mean investigating how severe the issues were and getting estimates on the cost to fix before proceeding.

not sure that “i’m liking” that my own estate agent gave me a push at last minute and told lies, to get the first time buyer into my house but no one cares about that, so I don’t care.

You made reference to not caring as you were lied to so I advised not to lie as well.

@NewName24 no it’s not just a simple financial comparison. Being ill means that the location doesn’t work for me anymore, the cost of moving will have to be absorbed by downsizing significantly.

You're selling it to be closer to a hospital you have only recently started attending & you are unwell.

Explain to the estate agent your reason for selling & put it on the market.
You could try putting it on at the price you bought it for - take your estate agent's advice on the price.
Maybe use a different estate agent.

Good luck OP & I hope your health improves.

I agree with @Tupster in that you can put the house on the market for whatever price you like. You can put it on for twice what you paid if you like - or the original asking price of the other vendors. The problem is finding someone willing to pay it. The previous vendor couldn't find someone willing to pay their asking price - that's why they sold it to you for much less than they were asking.

You could well be asked what you bought the house for if the transaction isn't showing on land registry - but you could have bought it for 100k but only be willing to accept 1 million for it a week later if you want - as long as you can find someone willing to pay you that million - and that is the problem.

To be fair previous seller may not have lied.

Most people selling have lived in their houses for a long time like decades. They aren't commissioning surveys so they don't know if it no longer complies with electrical safety and needs a rewire unlike 10 years ago when they bought or if attic condensation from lack of ventilation has slowly rotted a few rafters or if there a leak in underground drainage pipe.

You find those things out through YOUR survey. They didn't lie if they didn't know about it. You however definitely do know as you had it investigated so if you sell on must declare those issues.

But they will because for the sale to progress they’ll need your updated title register at the LR and it’s on there

I've done this in 2022. Estate Agents were fine with it.

We spent a few days painting and freshening it up. Estate Agent added enough to cover fees to the asking price.

We had a First Time Buyer offer asking within a day. Their mortgage lender asked no questions but we were ready to say we had to relocate suddenly due to work.

By the time the conveyancing had completed - it was 6 months and a few days and it all went through very smoothly!