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RightMove tactics

137 replies

Negroany · 27/04/2024 15:53

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.

Reydon, Southwold - Durrants Estate Agents

Bridge House is a wonderfully characterful home and has been renovated over time but still remains intertwined with its history, dating back as far as the 1600’s

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

OP posts:
GettingStuffed · 30/04/2024 12:38

One thing I will say is that on the EA website I'm unable to look at the property as I can't see any way to close the request a viewing window which covers up the pictures. If I can't then I'm sure others are affected

Newgirls · 30/04/2024 12:51

Weirdly I’ve been looking in that area and for me the price isn’t right because for that I can get something not on the road and doors out from the kitchen to the garden. It will need work to make it comparable to others not far away - I guess 50k which makes it expensive compared to elsewhere in Reydon and within 3 miles

HobnobsChoice · 30/04/2024 14:05

For those struggling on the EA website the Rightmove listing is here. www.rightmove.co.uk/properties/145986299#/?channel=RES_BUY

The floor plan is slightly confusing, which I don't know if it's laziness on the EAs part or the nature of an old and converted property. Are there steps from the main bedroom into the bathroom and from the dining room into the snug? Is there an internal window from bed 2 onto the hallway?

The house has a lot of lovely original features and has an interesting history but most people are going to want to do some work to improve the layout to make it more of a family home/suitable for visiting children whether they live there or let it out. The most immediate thing would be removing the shower from the main bathroom to create a door way and moving the bathroom fittings around and taking up carpet etc. I'd be taking that into account if I was buying. I'd also not go near a probate sale unless I knew it was granted for fear of losing my own buyer or their mortgage offer expiring and their new deal being on worse interest rates meaning they pull out

You can't change the fact it's on a main road but it could have more kerb appeal so that it feels welcoming. I think you and all the other family members needs to perhaps put some money forward once probate is complete to get the house looking more appealing via painting and staging.

Pr1mr0se · 30/04/2024 14:15

I don't think it looks dated at all.

I'm not sure how it can be classed as a detached house when it looks as if it is attached to next door.

Lots of properties have been on the market for a year or more due to the mortgage / credit market - offers are falling through because the potential buyer can't get a mortgage so the chain collapses. A probate house may further complicate things.

ChaoticCrumble · 30/04/2024 14:22

You have to remember that if you ask for advice, you're going to get more than you expect :). People are trying to help.

I think the house looks lovely and if you want to be on sale ahead of probate that's your choice - but I would save the big reduction until you've got it. It could be the limiting factor right now and you just don't know.

Negroany · 30/04/2024 19:38

@friendlycat

Luckily I don't really have to get my siblings on board, only the other executor and she isn't that bothered what I do. I'd rather not have a row with them but ultimately, as executor, it is up to me.

@Mum5net

Thank you.

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.

I'm not using a solicitor for probate, probate itself is actually very easy (and it's done now). I used an accountant to help with the IHT. I know what is available, it's just over £2k (as you say, tax rebates, warm home payment [!] etc), but I've kept it totally separate in a different account and all untouched so it's clearly traceable. I'm very conscious of needing to show the accounts if asked.
A lot of those expenses over the past year were when mum was ill, that's in the £10k (petrol, hotels etc). The £7k is paying for hotels for family (all of whom, are suddenly broke) to attend the funeral, funeral catering, ongoing utilities, associated costs with death (death certs etc), grass cutting, I had to have a tree doctored, cleaning, EPC cert....it goes on, it really adds up.
I have a lawyer lined up for the conveyancing and to help me with the trust for the minor (which I am trustee for but want to give up).

@OneDayIWillLearn

Thank you - those are all the kinds of things I need to think through. Useful suggestions.

@BruceAndNosh

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.

The floor plan should show the gate and the gap between the houses

I've never seen a floor plan of the outside, not sure how this could work.
It's a stupid pointless bit of wall, no idea what the point of it is.

@Newgirls

That house will never sell, it's got a red wall!

@HobnobsChoice

The floor plan is slightly confusing, which I don't know if it's laziness on the EAs part or the nature of an old and converted property. Are there steps from the main bedroom into the bathroom and from the dining room into the snug? Is there an internal window from bed 2 onto the hallway?

All correct, yes, so it's not confusing :)
There are three steps from the main bedroom into the bathroom, also from the landing to the shower room (not shown). There is a window on the corridor to bedroom 3, and also to bedroom 3. The proportions are not helpful as it's a narrow window but on the pic it looks like it takes up half the wall, it doesn't.
I'd call it a cute feature.
And yes there are two steps from the dining room to the snug (study) and very very small steps (maybe 2 inches) from the living room the kitchen, kitchen to utility and kitchen to pantry. It was a nightmare getting the assessment for mum to have care at home I can tell you!

The most immediate thing would be removing the shower from the main bathroom to create a door way

I doubt that would work, it's not wide enough for a door. Not that that's relevant.

@Pr1mr0se

I'm not sure how it can be classed as a detached house when it looks as if it is attached to next door.

It's just a bit of wall, but I don't know what does or doesn't count as detached. There are none of the actual house walls joined to any other house.

@ChaoticCrumble

You have to remember that if you ask for advice, you're going to get more than you expect :)

It's OK, I've been on MN over ten years, I know what it's like. I was just responding to people asking me why I wasn't fawning over the opinions being given - I don't have to agree with everything and, actually, it's not as if everyone on the thread has said the same things anyway. Mostly I was just explaining why things are the way they are and why I can't dash over there and build an extension this weekend.....

I'm going to ask my sister to rewrite the blurb and then I'll send that to the EA ready to be able to take off the 'subject to probate' and think about the price.

OP posts:
BruceAndNosh · 30/04/2024 20:02

I'm pretty sure a reduction in price plus probate being granted will increase interest now. Make sure Agent includes "no upward chain" in details

Luckycloverz · 30/04/2024 20:39

This house is beautiful and on at a great price!

Twiglets1 · 12/05/2024 07:00

Thought about this house today as in Southwold and drove past it.

Still on at 750k I see and still says “subject to probate” on Rightmove

Negroany · 12/05/2024 19:29

Twiglets1 · 12/05/2024 07:00

Thought about this house today as in Southwold and drove past it.

Still on at 750k I see and still says “subject to probate” on Rightmove

Yeah, and?

OP posts:
wakeboarder · 12/05/2024 19:45

I agree with Twiglets 1, I too am relatively local (within 15 miles) and know the area well. It's not Southwold, spelling/grammar mistakes are not helping. I'd consider a price reduction and change of agent. This is by no means saying it's not a nice property, it certainly is!

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