RightMove tactics

[Negroany]

This is my late mum's house, I am one of the executors:

https://durrants.com/property/reydon-southwold/

It went on the market in March and has had no viewings. It's a very specific area and I'm aware the market is pretty slow at the moment. I don't really care how much it sells for but I do have to make sure I am working in the best interests of the 7 residual beneficiaries (one of whom is a minor so relies on the executors decisions).

What are the best tactics here? I can see a lot of local property (there isn't really anything similar enough to truly compare) has been hanging around on the market for ages and that they have mostly had price reductions. I know putting on then reducing is now "the RightMove way", to boost views and get into a different price band.
I'm thinking about reducing after this bank holiday and about a week before the next one.

Brother wants to reduce by £15k and "not just give it away" (he's unrealistic and prone to hyperbole) and sister wants "one big reduction then that's it". In reality, it will sell for what it sells for and I'm not sure how much tactics will help, and as we're not worried about timings (I don't even have probate yet) maybe I can leave it longer still?

I could also change agents but I'm not sure the agents have that much sway these days.

I can't restyle the house at all because a lot of the furniture has now been taken and it's three hours from me. I actually thin the photos are pretty good. The only thing that could improve things is some photos of the garden which I assume (not been since Feb) is now starting to bloom.

Yes, but why does it matter to you if they are not a native English speaker?

Why do you need to "forgive" them? Would you be going into the estate agent to meet the person who wrote it and check so that you can make your judgement on them?

It sounds a bit racist to me.

OP perhaps looking at how the agent describes the house, and examining your assumptions about potential buyers would help.
Hardly anyone on this thread thought of the property as a second home / retirement home option. Most people were thinking it would be a family home, needing mortgage. Of course we don’t know the area, but perhaps the “idyllic retirement / second home” angle (selling the location lifestyle?) could be more heavily pushed in the advert?

It’s also much larger than many people would think of for a second seaside home. But if you say it’s not a great location for families, that reduces your market for a large family sized house quite a lot. So something in the advert that speaks to second homers / retirement people who don’t actually know the area at all would be good.

Not much advice on the pricing or probate thing (other than we bought our house which was subject to probate, it didn’t put us off because it was our first home and we had no idea what that meant for timing, and the lack of chain was a plus). Maybe highlight “chain free” (a big positive) as well as “subject to probate” (potential negative).
And while it’s all totally liveable, you’ve said yourself it would take a lot of effort to redecorate, and many people will want to do that, and will factor that into costs. People will pay top price if they don’t feel they want to change anything about how it looks. And while it’s perfectly ok, it’s not beautiful lifestyle magazine perfect.

eta - and yes, the slightly poor grammar and bad spelling in the text would give me a poor first impression, though if I loved the place I’d go and see it. Adverts are all about first impressions and you don’t want “off of”, “forth bedroom” “principle” etc.

There is just no helping someone so wilfully dense.

When we were looking to buy recently I made the decision not to view houses that were subject to probate because we were living with parents and wanted the transaction to be as quick as possible. I don't think you should reduce the price yet, it might be the probate rather than the price that is discouraging people. I agree with PP that you should re-list when probate is granted at the same price and see what happens. I don't think it "needs" anything doing other than the bathrooms. I know it's not about the furniture but staging does help get people through the door

I couldn’t get the photos to work either. It would only scroll four photos either way and when I clicked on gallery it crashed after three photos. The largest, easiest photo to see is the one of the estate agent!
But the little I saw looked nice. And my late father’s probate came through in ten weeks- as did my friend’s, so it wouldn’t put me off. It’s not a cheap house, so might take longer to sell generally.

Why do you need to "forgive" them? Would you be going into the estate agent to meet the person who wrote it and check so that you can make your judgement on them?

Part of the service that you are paying circa £6,000 - £7,000 is marketing. It's so important to get this right because this is what will bring potential buyers to your property. Spelling and grammar mistakes are unacceptable.

In every house I have sold, the EA have asked if I am happy with the brochure before it goes live. I have noticed errors and they have corrected. I would not be at all happy with the presentation your EA have used. Did anyone proof read it?

I think it's lovely. As it's unusual I would play on the used to be a pub thing with dates and when it became a residential house.

Unfortunately subject to probate would put me off. So would the estate agent not spelling character.

Does it have off road parking? It does seem very expensive although I don't know the area.

I know you don't mind how long it takes to sell but each day it's empty it's devaluing and costing you money.

I don't know if anyone proof read it, presumably not with the errors that stand.

I fully accept that it doesn't speak to quality.

My issue, which you and a previous poster are choosing to ignore, is the poster who said it would make them "wonder if the agent has English as a first language", and I'm confused as to why that should be relevant to a buyer and if they would go out of their way to find out. If they (somehow) found out that English was not the first language of the agent this would be OK - is this what they are suggesting? But if it was their first language, then they would be put off.
Or are they suggesting they wouldn't want to deal with an agent who didn't have English as a first language?

It's baffling as to why the nationality of the estate agent is anyone's business. Either way, the listing should obviously be right.

I'm afraid I don't know the dates of all that. I know it was a pub but I don't know when it changed. At least a hundred years ago I think. There are historical photos with it in, it was a smugglers pub. There's a whole poem written about it.

It does have off road parking, space for two cars on the rear drive, and the drive could be extended.

The street parking is also fine, we've never had a problem getting a space, though it's not right outside due to the junction and cycle lane. No parking at the front. We've never used the front door really, just use the back.

I can't speed up the sale at all due to the probate issue. As soon as I can, I'll do the forms but I can't do them until I get a code from HMRC.

I think the poster who asked about the EAs fluency of the English language meant that as the blurb was so poorly written it may not have been written by someone with English as their first language.

I don't think the poster was bothered about the nationality of the EA.

Whilst the EA is changing the most spellings maybe they could add the history and brook? Sell the lifestyle?

It's always difficult selling a property of late parents with their own taste and style etc.

There are many things you can't realistically do anything about, but there is one thing you can control and that's the price. I would get probate and then do a significant reduction in price.

You accept the limitations of the house yourself and I agree that the main road is an issue. I also think that you are a bit stuck in that no mans land of who is your target market. It's a big house at over 2,200 sq ft which isn't normally retirees downsizing. Nor is it traditional second home/ holiday cottage size - plus it's not actually in Southwold.

The bones of the property look great though and actually I think it would make a good family home for the right person who can overlook the main road aspect and slightly small garden for the size of the property.

Hang fire, get probate, consider whether you are with the right EA as well who should be actively marketing the property and bang a good price reduction where the lead figure starts with a 6 !

Good luck. You only need one interested party.

It's understandable that there will be spelling and grammar errors if English is a second language.

But still, it's unprofessional to not proof read. If they are sloppy about this, I would be concerned that they are equally sloppy in other areas which is why I would be reluctant to hand over so much money for poor service.

There are historical photos with it in, it was a smugglers pub. There's a whole poem written about it.
That’s cool, I’d mention that in the listing if it’s not already. You don’t need to know exact dates, the new owners can look into it more themselves if they’re interested.

My DM's house has gone on Rightmove today. We waited for probate (and for tenants to vacate.) Over 17 months in total.

The advice from our EA when it was still rented was to paint it entirely in white and have new grey carpets in all rooms that didn't have oak boards. fresh vinyl in all the bathrooms. kitchen/ utility area. They said 'give it a fortnight'... If it doesn't sell take it off the market and then consider spending £10-£15k on it in the hope of getting an extra £20-25k back.
When we got the keys back, two weeks ago, the house was in better state than we had hoped. We repainted their 18 year old kitchen and it has given the place a lift.
Granted, different house, different situation.
However, the house is left to 8 people, all of whom bar me, live in different countries. I understand your protests that you personally can't do much more.
The EA also has a letting agent business and has a long list of tradespeople at their disposal. I have used their carpet fitter, plumber and painter all remotely. I can use their gardener for grass cutting. Just wondering if this is a route for you, OP? You say there is another Executor. Could this other Executor using the Estate Agent contacts, remove the rest of the furniture to storage and do a re-set with paint and floor coverings with a few phone calls?

The EA also has a letting agent business and has a long list of tradespeople at their disposal. I have used their carpet fitter, plumber and painter all remotely. I can use their gardener for grass cutting. Just wondering if this is a route for you, OP? You say there is another Executor. Could this other Executor using the Estate Agent contacts, remove the rest of the furniture to storage and do a re-set with paint and floor coverings with a few phone calls?

It's a good idea, but not really workable in this situation. The EA does have trades though.

The other executor lives further away than me, has five kids, three at school age (two with SEN), two jobs and is only inheriting a small fixed sum. She's been helpful but she's not done much.

It's not a matter of not being able to find a tradesperson, my local decorator to me has said he'd happily go and stay there and do it. Mum's decorator would do it (though I strongly dislike her!). I just can't afford it. It would be thousands of pounds which I just don't have. And there is no leeway to change the floors at all, due to the nature of the house it's not an easy job.

My siblings are arguing over who is paying for the headstone (£600) because I have refused to pay out any more than I have to as executor. They both say they can't afford it, even at half each, so they are not going to contribute to the decorating. I'm already over £7k down until money is released. I could do it after the money is released, if it's an issue then. But there would ne no-one there to coordinate it. And the photos will look really weird with half the furniture gone.

Anyway, ironically the HMRC code for the probate came today, the other executor has done the online declaration and I have paid (another £288) and submitted the application. I just need to get a certified copy of the will now so I can send off the original (I did get two done but the person who did them doesn't have a landline number and the institutions I have been dealing with won't accept it with a mobile number - the whole situation is barking, but there we are).

Ah, OP, I get that. The rental income for last six months is with our Letting Agent as a 'contingency'. We've been using that to fund the trades people and the trades people have been delighted as they have been paid instantly.
But surely the person who stands to inherit the major amount might want to contribute to maximise their return?
Maybe you've had that discussion?
But well done getting to the final stages.

That would be me......

My siblings claim penury right now. I do have more money available, but it's in accounts where I don't want to lose the status (ISAs etc). It is also a lot to be down by and I've had a lot of other unexpected expenses in the past few months (not least of all having to travel to and from mum's when she was in hospital/dying, living on meals out and take aways, staying in hotels etc, buying my way out of other things to be available for her etc, paying for carers/medical requirements and my house needed new central heating after a leak......so all that has cost me c£10k over the past year too). It's annoying that neither of them have asked if I'm OK with the outlay, nor offered to pay for anything at all. They each inherit just over a third of what I inherit (with the rest of their 'share' going directly to their kids/spouse, so their family unit gets the same as me, I don't have kids or spouse).

There isn't a magic Rightmove tactical bullet unfortunately.

The house is overpriced in today's market, for sure. Otherwise it would have sold.

The probate being in motion will also be putting lots off. Even if it wouldn't put you off, it's definitely a red flag in a market where most properties won't have that issue/risk.

This is a buyers market, whether sellers like it or not. The estate agent, your family, the neighbours, whoever can value your house but unless they're paying for it, it's irrelevant. The only people that determine the value today are those looking to buy it.

It's a marmite house. I love the actual house, I love the dimensions and feel of it, but I wouldn't pay £750k for it and I live in one of the most expensive towns in the South East. Being directly on the road with no fence, bush or barrier is a definite no from me. Yes the house is big but at £750k, I want privacy, security and peacefulness.

And of course most people looking will use a mortgage. What makes you think otherwise?

Sorry OP, but you've come across extremely defensive. We're just trying to give you opinions, not judgement.

*That's why I said it would probably not be someone with a mortgage, because I imagined it would be used as a holiday home/buy to let/second home/retirement/relocation type home
*

Most buy-to-lets are bought with mortgages - that's how the whole BTL thing originally took off (and contributed to house price inflation).

The history of the house sounds cool - add that into the particulars.

I love the house, garden and the history. I think reducing the price after probate is secured is a good plan and I'm sure it will sell. I wouldn't ever pay that money for a house right on the street but maybe if the price was right I would... Who knows. Someone will! I would definitely stay there as a holiday let! It would be perfect for my family and dogs.

I agree with you that it would be pointless to redecorate those huge rooms - people would still likely change it regardless!

It's a lovely house.

But if I were looking to buy, the second I saw "subject to probate" it would be hard nope.

Just wait until you're actually able to sell it before listing.

It sounds a difficult one with your updates of lack of support from your siblings and their refusal to contribute to the headstone etc.

One sounds completely unrealistic with a £15k price reduction as well thinking that would be the answer.

Good news on progress with probate though.

Doing a quick search on rightmove there are other properties in the wider area that are priced in the six hundreds. I really think you need to get your siblings on board for a decent price reduction as this is something concrete you can do to garner interest in the house.

Sorry OP, but you've come across extremely defensive. We're just trying to give you opinions, not judgement.

OP, I bet you are just worn done and exhausted. Your siblings sound awfully self absorbed and lacking in kindness. The hamster wheel of sorting things out and caring for an elderly relative at the end, whether you were very close to your DM or not, is still extremely hard work.
Is there any merit in talking to the probate solicitor about refunding some of your executor expenses like petrol, hotels, the cost of lending money (including lost interest) to the Estate? It maybe there is some residual money that has been refunded to DM eg tax rebates etc that they have not said.
The Elderly Parents board would be a good place to go for some support. There are very many posters with siblings like yours. I mean hundreds! There is lots of good advice about dealing with the 'aftermath'.

Notice you haven’t had all that many comments on your original question of how to do the price reduction strategy and manage your siblings etc

You could just go ahead and do the £15K reduction suggested by your brother (and why not try and get it though asap). It will make your listing go right back up to the top of searches based on ‘newness’ (a lot of people search like that, including me) and/ or get it emailed to people who have an alert set up. If you do that then maybe change the cover photo (you could use the one taken from the back garden so the main road is less obvious), and change a bit of a the copy. Then people who have already looked at your listing and discounted might look again and view. The advantage of doing this over sticking with £750K is a) if you still don’t get viewings and offers then you’ve proved your brother wrong and b) at least you will have refreshed it on RightMove.

If you want to go a bigger reduction I’d go to just south of £700K (like £699,000) so it pops into the next search bracket down on RightMove and makes the psychological difference that it starts with a 6 not a 7. You could either do that before or after probate is granted, different pros and cons to that! If you got a buyer now then you could have done all your conveyancing up to exchange before getting probate so then it would be a really quick sale (would that interest your siblings?). Whereas if you wait until after probate you will have a bigger pool of potential buyers but longer to wait for the money. To be sure you are getting the highest price (you mentioned acting on behalf of a minor) you probably need to wait until after probate but if speed and simplicity matter then the argument is more nuanced and the money could start earning interest much sooner etc

my final observation is that sometimes a strategy that seems to work really well is to reduce really hard. I saw the ad for a house last year at £1.8, on for ages then dropped to £1.7, on for ages more then dropped to offers over £1.45. We viewed it at that point and by the time viewed they’d had 14 viewings and 2 offers over asking price with more viewings/ second viewings/ offers apparently due to come in. It’s now sold and I gather went for well over asking. So dropping to £595 or £600 might actually result in you getting competing offers and end up well over that amount. People can’t resist feeling like they are getting a bargain. And then you might get a quicker sale too.

I suspect given the situation with your siblings it might be prudent to try the less radical strategies first though!

The agent's sloppy typos do matter.
It is listed as Detached but from the street it looks a joined to property on the right. As a "potential buyer" who wouldn't consider a semi detached house, at that point I would think "sloppy agent got it wrong" and lose interest.

It IS detached - but I think there alley way behind that gate between the two detached houses and the tall front wall makes them look joined.

So your agent not knowing the difference between principle and principal has put off a potential buyer.
The floor plan should show the gate and the gap between the houses