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Selling your house

Discussion in 'Personal' started by goonergirl2009, Jul 3, 2011.

  1. goonergirl2009

    goonergirl2009 New commenter

    My husband and I are wanting to sell our house to move somewhere bigger but have had nobody to come and look at it during the five months it has been on the market. We have dropped the price but still hgave had no joy. Our house is in a great location and really is just lovely. We have lived hear for three and a half years and really are very fond of it but we have one child and are hoping to start trying for another in eighteen months or so and really would like somewhere bigger.
    I was wondering if anyone had any experience of selling a house a different way than through an estate agency. We have been contacted by firms willing to buy our property but are offering 85% of the current price and that would leave us with negative equity!
    Thanks in advance for any advice or suggestions!
     
  2. Basically, you're stuffed. People cannot get mortgages at the moment, so there's a dearth of first time buyers around. Your place sounds as if it is too small to be anything other than FTB material, so you aren't going to get much in the way of viewers, let alone offers.
    If you've got the money to buy a bigger place, why not put an extension or rooms in the roof instead? You get to keep your home and neighbours and get room for sporg number 2.

    cyolba, loquation, loquation, loquation :)
     
  3. doomzebra

    doomzebra Occasional commenter

    With NO visits, your house is simply overpriced. You will not sell it unless you cut the price - the 85% may end up as all you get.
     
  4. We have had lots of viewings - about 30 since Easter - but no sensible offers so far. The market is really flat at the moment. Apparently in the local upmarket area last year there were over 900 properties on the market but only approx 130 were sold. If you have not had viewers, it does sound as if you need to drop the price to get viewers through the door. Or change estate agents.
     
  5. Mangleworzle

    Mangleworzle Star commenter

    Beware of making it even more difficult to sell in the future though unless you accept you might not get the money back you spent on it.
    Agreed, it's just over-priced, have you said you will accept offers?
     
  6. goonergirl2009

    goonergirl2009 New commenter

    Thank you all for your feedback. It is on the market for the valuation we were given by four estate agents but it looks like we won't get near to it! Our house has three good sized bedrooms so we are fine for a while. We could maybe look at converting the loft but we would have to use the money we have put aside for our next deposit which we want to keep incase we do get a chance to move!
     
  7. Errr, so why do you need a bigger house? 2 adults + 2 kids = 3 bedrooms, surely?

    cyolba, wondering why he bothered :)
     
  8. gergil4

    gergil4 New commenter

    Can you rent it out and buy another? Speak to all the local agents about the rental market, if people can't get mortgages they may well be looking to rent. At the same time, speak to someone about whether you are able to do this on a financial basis. If you're looking to live locally you can save on some of the fees rental agencies will charge.
     
  9. doomzebra

    doomzebra Occasional commenter

    The same estate agents that have arranged the endless stream of viewings?
     
  10. goonergirl2009

    goonergirl2009 New commenter

    We would like a proper dining room, a bigger garden and a fourth bedroom for a study!
     
  11. Mangleworzle

    Mangleworzle Star commenter

    I needed a study when our youngest turned up so I bought an 8 x 6 shed for the garden which I insulated and painted, it was great having an outdoor room to work in. May give you a bit of breathing space, though I have to say - you seem to want a lot more than you are in any position to afford at the moment.
     
  12. I guess you'll be waiting a while, then. Be content with what you have. To always want more is the road to debt and misery.

    cyolba, quoting christmas cracker mottoes :)
     
  13. We had our house on the market for several months - we had a few viewings, all very positive. Everyone loved our house, but no-one was in a position to buy as they couldnt sell their own houses. We dropped the price but still never managed to sell. In the end we took it off the market.
    The other problem is house prices are still falling. People (FTBs) dont want to buy in a falling market. They'll hold out until things bottom out.
    If you aren't getting any viewings, the house is almost certainly overpriced. You could try dropping it to see if this prompts any viewings. To be honest, I think your best bet is to stay put and try to add an extension / loft conversion. If you love the house and its in a good area, then stay.
     
  14. I would agree to dropping the price as a ploy ... You do not have to take offers if they will not enable you to move

    What have houses near you sold for recently
     
  15. lurk_much

    lurk_much Occasional commenter

    if you have cash why not pay off some mortgage? Being trapped by negative equity and sitting on a deposit sized nestegg is possibly the nuttiest situation I have heard of for a while.
     
  16. bed

    bed New commenter

    Do you really want to move?
    We thought we did and spent two years looking - saw nothing to inspire us to put ours on the market.
    After lots of thought and lonk talks realised it was a synptom of feeling generally unsettled with life - work being at the root of it. And even tho our house is small its in a brilliant location and has two sunny gardens and a mortgage we can afford.
    So we've decided to stay put.
    And we feel better for it - one big stress has suddenly gone!
     

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