Quick Sale with sitting Tennants

[owl09]

For a minute there I thought you were haggling for an offer lol.

Yeah, we might have to go back and reduce further in the shop window. I agree, I hate all the one-upmanship involved in bidding. It's all to cater for peoples egos, they think they've got one over on someone by getting the price down when really that's the price the seller was hoping to achieve in the first place.

Ah well back to the drawing board.

[Hippogriff]

While I do realise that you're not exactly angling, here, for a Landlord to take this off your hands, you're actually more puzzled as to why regular purchasers are not interested, and the fact there are Tenants in there is a bit of a side issue (one you can't ignore as you need their rent), I would say, from a Landlord perspective, that £450 per month rent on an £89,000 investment doesn't sound that attractive (well, to me at least). £500 and £84,000 sounds better.

In situations like this, I would be expecting advice and guidance from my Estate Agent. I guess, maybe, they don't do that [any more]... just visit, value, take pictures, stick 'em on a property portal and await their commission. You would think an Agent with local knowledge would have had that conversation with you about what's missing... must be something, even if it's as simple as a lower price, but maybe there's something else that the adjoining property benefited from - did you ever compare the two inside?

Anyway, I'm no expert, just thinking aloud...

[thesaint]

It's the lowest we could possibly go. And its £1,000 lower than next door was listed and that went ok.

Ask the people next door why they bought that house instead of yours which was £1000 cheaper.
A property that is priced right, and has nothing wrong with it, does not sit for 5 years unsold.

[Interlaken]

Quite right Saint - there is obviously some minor detail that is missing from this spec like 'mine shaft in rear garden' or ' 30 secs from M42'.

[owl09]

thesaint,

They sold before us so part of it may be market conditions at the time. And they got luck as the person wanted to move back to their roots.
The main problem is the rural area (dare I say backwards) people who live there also die there but there's no big business so unemployment is relatively high. The people who grow up there and have something about them all move out of the area. With our invaluable friend Mr Hindsight it was a bad buy in the first place but we can change what's done.

[owl09]

Interlaken,

Absolutely no minor detail. In a small village 2 miles from popular seaside resort of Saltburn-by-the-Sea on the East Cleveland coast. It would make a decent retirement home.

The market is just not moving up here. This Government has increased the North/South divide. If Scotland Vote Yes then the whole North of England should ask to go with them! <Political Rant over>

[emwithme]

I'm presuming you're one of these two:

http://www.rightmove.co.uk/property-...?premiumA=true

http://www.rightmove.co.uk/property-...-31310863.html

Re both: The pictures are awful and you need a floor plan. If you let us know which then I'm sure we can give you help.

[owl09]

yes good detective work. its the first one. http://www.rightmove.co.uk/property-...?premiumA=true

I'm still not convinced it's a right move issue nor poor photos etc, it's more the market up here. But any advice would be taken on board and feedback to the Estate agents. cheers

[PJackson]

I have to agree that the pictures are bad. On 3, 6 & 7 the brightness of the outside will have caused the inside to be underexposed making the rooms look dingy. You'd probably get better pictures on a duller day. On 4 - the kitchen - the stain on tiles behind the cooker makes it look like the kitchen has been badly maintained and may need replacing. Get that sorted and it would look much nicer.

[Wannadonnadoodah]

The pictures are fine and pretty standard estate agent pictures who can't be bothered using a camera with a wide angle lens. At least there's not snow in the photos!

I'm not a fan of the 'guide price' what guide am I using to suss the actual price out? And I'm definitely not a fan of 'Reduced for Quick Sale' looks desperate and has absolutely no meaning to anyone new who looks at the price of the property, it's a house, not a trifle in the reduced section of the supermarket.

As you say, looks like nothing but next door has sold recently and I still stand by my advice of dropping to your accepting price not advertising 'fixed price' or the like and trying to get the EA to earn their money by managing expectations. If anyone who's interested has done any research they would see next door has gone for £6k more and that it's an attractively price house from the outset.

[owl09]

I take on board what has been said. Thank you.

I tend to think the photos are standard Estate Agent photos found on Right Move all over. I don't think we need to call in David Bailey to take professional photos. To Quote Douglas Adams "If it looks like a duck, and quacks like a duck, we have at least to consider the possibility that we have a small aquatic bird of the family Anatidae on our hands." The house is a 2 Bedroom Semi so it's never going to look vast. If anyone was really interested surely they'd see through the photos and at least go and have a look.

We shall go away this weekend and do our sums with a view to putting a lowered price. Whilst instructing the EA to earn his corn and manage expectations for any interested parties..

[Wannadonnadoodah]

owl09,

Totally agree with you, when I'm looking at properties the criteria is price, location and pictures a dim and distant third. Make the shortlist and go and visit them all in person and see for myself.