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House slow to sell

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  • 13-03-2015 9:37pm
    #1
    annamosullivan
    Closed Accounts Posts: 36 ✭


    Hello,

    I've an auctioneer who has my house(plus a few acres in the countryside) over 2 years now, and even though he's got a lot of enquiries and viewings, it's got to the stage where the property is now going to auction. It seems to be taking a while to get it to auction, and any interested buyers weren't able to get the finance together to buy my property by private treaty.

    Is it easier or more difficult to get property to sell by auction compared to selling by private treaty?

    How long does it normally take to get property to auction? My auctioneer raised this possibility at the start of this month, and we've missed the local property auction for this month.

    What's normally involved when an auctioneer puts properties for auction? I'm trying to understand why things are happening so slowly, given that properties are selling relatively quickly in the locality compared to the last 5-6 years.

    Thanks for any ideas/input.


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    #2
    Markcheese
    Registered Users Posts: 8,431 ✭✭✭Markcheese


    I think I'd have : dropped price
    :got different estate agent

    : looked at why the house isn't desire able

    Slava ukraini 🇺🇦



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    #3
    just do it
    Registered Users Posts: 5,422 ✭✭✭just do it


    Markcheese wrote: »
    I think I'd have : dropped price
    :got different estate agent

    : looked at why the house isn't desire able

    +1

    Some auctioneers have ended up owning properties that were slow sellers...

    Looking at other options, would you buy your house at the asking price?


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    #4
    Kovu
    Closed Accounts Posts: 14,241 ✭✭✭✭Kovu


    Moved from Farming & Forestry. Please note the Accommodation & Property Charter will now apply.

    K.


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    #5
    Belongamick
    Registered Users Posts: 168 ✭✭Belongamick


    AnnaM,

    I'm no property expert but most important thing is not to panic.
    Things to consider are;
    - Is the auctioneer working hard for you?
    For example, is the property advertised on MyHome.ie etc. This can be very important because UK buyers may be tempted with the strenght of sterling.
    Would adding another auctioneer get things moving a bit better?
    Sometimes one auctioneer may seem 'dated' when compared to another - office is part of a pub/shop type operation.
    - Presentation
    Is the house, grounds and land presented in the best possible light?
    Check presentation of local properties for sale on the internet - how does yours compare and what can be done to improve?
    -Price
    Is the price in line with local properties? What offers have you had? It has been extremely difficult for buyers to raise finance from the lenders in recent years. Prices are generally rising slightly at the moment and you are entering the best part of the year for sales.

    Hope this helps.


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    #6
    TheDriver
    Registered Users Posts: 12,417 ✭✭✭✭TheDriver


    Is it priced too high? Is the EA someone who is difficult to deal with? Are u open to offers? Decor could be unique and frighten people away? Whereabouts in the country are u talking?? Sometimes people put up the actual daft link if u want direct feedback but that's a choice you need to make regarding anonymity


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    #7
    the_syco
    Registered Users Posts: 37,295 ✭✭✭✭the_syco


    Do you have a link to the site in question? Not to give it here, but to have it. If not, where is it advertised? Is it online at all? A few small ad's in properties is lazy, and doesn't look like it'll get the house sold. If the house isn't selling, you must have an online presence of some sort to get buyers interested.

    Is there many photos taken in the sunshine, with good photos of the inside? I ask as I've seen some ad's that show sweet eff all of the house, a small shot of the land, and no info of the land that you get. Two examples;

    http://www.daft.ie/1722722
    If they ran over the lawn with a tractor lawnmower at least once before taking the outside photo, and possible one or two inside photos to show how spacious the house is, it may get a bite. As it stands, unless you drive to the place, you won't know, and many people wouldn't bother. And maybe one of these "beautiful views" that it talks of?

    http://www.daft.ie/1938925
    Lovely photo, but... it's the only photo. More photos of the inside, or even of the land that you're getting as well would be good.


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    #8
    Balmed Out
    Registered Users Posts: 4,713 ✭✭✭Balmed Out


    Either your expectations are far too high or there are legal issues with the property, does it have all certificates of compliance etc


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    #9
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,279 Mod ✭✭✭✭The_Conductor


    Location- is the other big issue- and also the amount of land with the property may be deterring some people. It could be too small to farm- but too formidable as a large garden......... And if its remote- you get the picture- the writing could be on the wall..........

    The estate agent could also be a factor- what have they done to try and shift it over the past 2 years? It was a rising market- if you can't even sell into a rising market, what hope have you when things have turned (aka- they've given up and are simply bringing it to auction to get it off their books........)

    Has other property in the neighbourhood sold recently? How did it differ from yours? Remember- larger blocks of land will attract a premium per hectare price- not everyone likes have parcels of land scattered over a locality.......

    If it was on the market for the last 2 years- you have to ask yourself- why was it undesireable to prospective purchasers? It could be you had unrealistic expectations from a price perspective- or it could be that the property itself just wasn't an interesting proposition to prospective buyers (for reasons x,y,z).........


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