Worried I won't be able to sell

Cat_M · 23-09-2019 9:44pm

Glass fused light wrote: »

Ok if the tenant bough a new one why did be go for them rather than the 12 other 4 beds or your gaff as they have an extra bedroom and a bigger garden ?

What did he think he would have paid for your house.
quote]

I don't like to dwell on this but when I got my valuation last summer and was told it was worth 40K more and would sell asap I offered to sell it to him. So he would have understood the house was priced a good bit higher than it is now so that's a killer. But then by the time he actually vacated, the value was deemed 25 K less. Unfortunately I didn't get it revalued til the house was vacated as EA #1 advised against going to market beforehand and then I had to do a massive clear out, paint and clean and he reduced it by 10K and then EA#2 laughed at that and reduced it by another 15K but apparently it is still overpriced so that's a huge change in a year and an overall drop in value of potentially up to 20%.

Again I was going to replace kitchen doors and facade and advised against. I asked for advice on furnishing and while it's minimumly furnished she advised against doing anything more cos " people are expecting an empty house".

I think I picked a bad EA, both times. Although. If I'd gone with the first guy I'd have had no viewings at all.

thisistough · 23-09-2019 10:00pm

Cat_M wrote: »

1. Bus. Neighbour agreed to move bus when viewings due. Other than that his driver lives nearby so it suits them to leave bus there. Not much else I can do.

A lot of buyers who live in any way close to a property who do several drive bys of the house/area to see if they like it and if it’s somewhere they could see themselves committing to. If the bus is there even some of the time it may spark interest

Cat_M · 23-09-2019 10:02pm

thisistough wrote: »

A lot of buyers who live in any way close to a property who do several drive bys of the house/area to see if they like it and if it’s somewhere they could see themselves committing to. If the bus is there even some of the time it may spark interest

And not of the positive variety.

Yes I have thought of that. It would put me off and if there were 12 other similar properties. As would the vacant house next door.

When I lived there myself that neighbour used to park a minibus outside my house which blocked my view whenever I would reverse out the drive way. Now it's a big full on bus. I had it good then. :-/

Cat_M · 23-09-2019 10:16pm

Eric Cartman wrote: »

+1 , the market hit its 'central bank wall' in dublin in october last year, since then asking prices have gone up but theyre not making that money. I'd price the property as to what it would have been late last year versus what those hoping to get blood from a stone have been pricing them at this year.

In my case my property was valued more last July than in May when I got keys back. Then less again by a second EA shortly after that. I don't understand your point. Maybe it's Dublin related. This is a provincial town yet on the commuter belt.

Glass fused light · 23-09-2019 10:38pm

Cat_M wrote: »

I think I picked a bad EA, both times. Although. If I'd gone with the first guy I'd have had no viewings at all.

Someone is BS you if a 3 bed with smaller gardens are going for 55k more than your place.

When was your place built and why is there 2 (?) vacent homes beside you?

What's the salespitch missing that makes your place so unattractive.

If you were to spend say €5000 to update the house why are you still missing the people looking to spend 50k more on a smaller house and garden?
You need to go new house shopping in the area and look at who is selling what in the area and why

Marcusm · 23-09-2019 11:12pm

Edgware wrote: »

No its not.

The parking of a commercial vehicle which is subordinate to occupation of the house is permitted under residential property use but use of an empty property for the parking of a commercial vehicle who's use is not tied to the property is not using the property for residential purposes and is unauthorised development and not permitted.

Dav010 · 24-09-2019 2:06am

Marcusm wrote: »

The parking of a commercial vehicle which is subordinate to occupation of the house is permitted under residential property use but use of an empty property for the parking of a commercial vehicle who's use is not tied to the property is not using the property for residential purposes and is unauthorised development and not permitted.

That is very interesting, which law are you quoting there?

jetfiremuck · 24-09-2019 3:34am

Here's my take. You need to get an EA that sells a lot in the area. It makes a big difference, a lot of ea bs sellers in thinking there house is worth more than it is. You can ask all you like however the market will dictate price. Unless it's a cash buyer any prospects bank will do a valuation.... They use their own.

Most people in the market to buy don't want to turn around and have to spend thousands on facia, and other maintenance deferred items, carpets, kitchens etc. new builds are an issue however there is still a housing shortage so you still have time.
Remember you have a mortgage (maybe) and holding costs, no rental income so if you add that per month it adds up.

Failing a sale go hap it with the council, however be warned if they inspect you may have to upgrade to their standards.

Finally...if you want to get out,see if an auction would work or sell at a reduced price, move on and draw a line under it. I know it's counter intuitive to put money into a house your selling, but it's the buyer that's seeing the work, and hassle involved if it's bought as is.

Cat_M · 24-09-2019 6:46am

jetfiremuck wrote: »

Here's my take. You need to get an EA that sells a lot in the area. It makes a big difference, a lot of ea bs sellers in thinking there house is worth more than it is. You can ask all you like however the market will dictate price. Unless it's a cash buyer any prospects bank will do a valuation.... They use their own.

Most people in the market to buy don't want to turn around and have to spend thousands on facia, and other maintenance deferred items, carpets, kitchens etc. new builds are an issue however there is still a housing shortage so you still have time.
Remember you have a mortgage (maybe) and holding costs, no rental income so if you add that per month it adds up.

Failing a sale go hap it with the council, however be warned if they inspect you may have to upgrade to their standards.

Finally...if you want to get out,see if an auction would work or sell at a reduced price, move on and draw a line under it. I know it's counter intuitive to put money into a house your selling, but it's the buyer that's seeing the work, and hassle involved if it's bought as is.

What's the story with an auction? In simple terms what does that involve?

bigpink · 24-09-2019 6:51am

Would you not live in it yourself if your looking to buy a home?

Cat_M · 24-09-2019 7:11am

bigpink wrote: »

Would you not live in it yourself if your looking to buy a home?

If I was still living in that part of the country, yes of course. I had to move and couldn't sell cos of the crash so joined all the other accidental landlords. Have been waiting for the value to come back up.

JustMe,K · 24-09-2019 11:13am

Someone else mentioned getting a friend to call the EA and see what they say, totally recommend it. Last year we tried to view a house, the EA was not in the local area and had no more interest in showing it to us than the man in the moon. 10 months later, it was still up for sale and I don't think it actually sold.

Marcusm · 24-09-2019 12:05pm

Dav010 wrote: »

That is very interesting, which law are you quoting there?

The property presumable has an existing residential planning permission. If it is being used solely for the parking of a commercial bus then that is a material change of use. It has become a car park, that is not a residential use. Different issue arises if the driver or owner occupied the house and the parking of the vehicle is ancillary to his use of the premises as a dwelling.

Section 3(2)(b)(iii) of the Planning a& Development Act 2000.

Cat_M · 24-09-2019 1:03pm

Marcusm wrote: »

The property presumable has an existing residential planning permission. If it is being used solely for the parking of a commercial bus then that is a material change of use. It has become a car park, that is not a residential use. Different issue arises if the driver or owner occupied the house and the parking of the vehicle is ancillary to his use of the premises as a dwelling.

Section 3(2)(b)(iii) of the Planning a& Development Act 2000.

Interesting but I won't be pursuing this with my neighbour.

carltonleon · 24-09-2019 2:24pm

Cat_M wrote: »

Interesting but I won't be pursuing this with my neighbour.

I would agree with you on that as you seem to have a decent enough relationship with him/her so no point in ruining that just in case you are unable to sell for a while.

You say that it is a commuter town, so are the transport links to Dublin close by or far away?
Are the other houses in the estate rented or owner occupied ?
Is the building work on the new development visible from your house , is there noisy machinery during the day etc ?
Do you know why the house next door is vacant and is not for sale ? have they tried and can't sell. A lot of house sales don't put up For Sale signs these days. 3 houses in my estate in Dublin were sold in the last 6 months but there was no For Sale sign at anytime in the garden.

Dav010 · 24-09-2019 2:41pm

Marcusm wrote: »

The property presumable has an existing residential planning permission. If it is being used solely for the parking of a commercial bus then that is a material change of use. It has become a car park, that is not a residential use. Different issue arises if the driver or owner occupied the house and the parking of the vehicle is ancillary to his use of the premises as a dwelling.

Section 3(2)(b)(iii) of the Planning a& Development Act 2000.

Doesn’t that relate to depositing vehicles, not parking those used on a daily basis?.

“the deposit of vehicles whether or not usable for the purpose for which they were constructed or last used, old metal, mining or industrial waste, builders' waste, rubbish, debris..”

Where’s the bit about having to reside there? I don’t see how this could be considered as a commercial premises just because the owner parks his bus there after he finishes, he is parking in his own driveway. Would the section you quoted not relate more to scrap vehicles?

faceman · 24-09-2019 2:54pm

The bus next door is unlikely to be putting off people, if you’re not getting viewings then they’re likely not seeing it anyway. Either way unless they hear you have a problematic neighbour, which you don’t, then it’s not an issue.

With total respect OP and without having read the ad, it sounds like your property is well overdue a make over. If you’re competing against lots of new builds then your competition is ahead of you. Most FTB won’t want to buy a project

I also agree with the advice re a local EA. But other than that the only thing that’s remaining is the property is over priced.

Cat_M · 26-09-2019 8:25pm

faceman wrote: »

With total respect OP and without having read the ad, it sounds like your property is well overdue a make over. If you’re competing against lots of new builds then your competition is ahead of you. Most FTB won’t want to buy a project

I also agree with the advice re a local EA. But other than that the only thing that’s remaining is the property is over priced.

So is it over priced because it needs a makeover? So I spend a couple of grand on it and update the kitchen somewhat and replace the soffit and fascia. Then what? Keep current asking price on the basis of a refurb or is it a case of taking a discount AND spending money on it? Are there no people out there who can't afford the new builds cos they are 50/60K dearer but would take a much cheaper house and allow for replacing a kitchen, let's say for less than 10K?. We would like to buy and will not be seeking a perfect 2nd hand house by any stretch and would expect to have to refurb at some point when we can afford it. I was a first-time buyer too and I did update over time when I had a bit of money. EA said at the start that people now want "new houses at second hand prices. " Isn't there anyone else out there wanting a second hand house that might need an upgrade? When I was getting it painted etc all the people who said, don't spend any money, people want a blank canvas. Don't replace the presses, the next people might rip the lot out, etc, etc. Where are they? I thought the apparent refurb issues would be factored into the price or that's what I was led to believe. The new builds are on top of each other, have post stamp gardens etc and nowhere as close to town and probably have barely room for one car.

riemann · 26-09-2019 8:33pm

It's quite clear you have the house way over priced.

There is a price you could take for this house that would have it sold tomorrow, but you are hoping to hold out and get as much as possible.

A perfectly reasonable attitude, most people would do the same.

What I don't understand is why you have started a thread here, blaming a ****ing bus?

Just accept you missed the peak in the market and get rid. An empty house is losing money in the current market and is a prime target for anti social behavior.

zapper55 · 26-09-2019 8:34pm

Op you are forgetting that it's easier for someone to get a mortgage for a more expensive new build than a cheaper second hand house and have to find the cash somewhere for the refurb. Also dont forget the help to buy scheme.

I'm in the middle of a refurb. I dont regret it because I love the area but it would have been a million times easier 5o buy a turn key property. No hassle with trademens doing a crap job, or not turning up etc.

Cat_M · 26-09-2019 9:27pm

zapper55 wrote: »

Op you are forgetting that it's easier for someone to get a mortgage for a more expensive new build than a cheaper second hand house and have to find the cash somewhere for the refurb. Also dont forget the help to buy scheme.

I'm in the middle of a refurb. I dont regret it because I love the area but it would have been a million times easier 5o buy a turn key property. No hassle with trademens doing a crap job, or not turning up etc.

Thanks Zapper. I know what it's like to not have any cash for refurb cos that was me but I still bought it. I wish people hadn't been so strong especially the EA, to advise against any repairs/ refurbs cos surely she should have known that people may not want to spend a penny on the place. I took her at face value as being the best to advise me. I wonder how many people were put off by the dodgy soffit and fascia at first glance cos it is a about 1.5K. I was actually getting quotes to do it cos I thought it looked bad but she said no, it would be factored into the price and discounted for. FFS. And I listened to her, which is worse.

bluelamp · 26-09-2019 10:01pm

Cat_M wrote: »

but she said no, it would be factored into the price and discounted for. FFS. And I listened to her, which is worse.

With all due respect OP I think you're being a bit ridiculous here - none of this is the estate agents fault.

You're house needs a bit of work, in an area with a lot of new builds, and with the lack of interest its apparent its overpriced.

It would have sold easier last year, any estate agent will tell you houses were selling extremely quickly in 2017 and 2018, and sales have really slowed this year.

None of that helps you - but if I were you, I'd spend a couple of thousand cleaning the place up a bit and drop the price.

Cat_M · 26-09-2019 10:29pm

bluelamp wrote: »

With all due respect OP I think you're being a bit ridiculous here - none of this is the estate agents fault.

You're house needs a bit of work, in an area with a lot of new builds, and with the lack of interest its apparent its overpriced.

It would have sold easier last year, any estate agent will tell you houses were selling extremely quickly in 2017 and 2018, and sales have really slowed this year.

None of that helps you - but if I were you, I'd spend a couple of thousand cleaning the place up a bit and drop the price.

My point is that she advised AGAINST spending any money on it! I was going to do work and she advised me not to waste my money. Go figure. If I had not listened to her and spent a couple of grand last May I might have had a bit more interest maybe. That's my point. She's supposed to help advise me to sell my house. I think it was bad advice tbh.

JustMe,K · 27-09-2019 8:14am

Thinking about this some more - you should probably pull the property off the market for a few months. Buyers who see a house up for months with no movement will likely assume its either not really for sale, has something significant wrong with it or they can get it for a knockdown price.

JoeyJJ · 27-09-2019 9:13am

I think Kitchens, bathrooms etc there is probably some reason not to spend money on it however Facias don't really provide too many design decisions. I would replace them as it may also lead to bird infestation or damage due to water running down if really badly damaged.

Got mine done and it really brought up the look of the house.

Cat_M · 27-09-2019 9:15am

JustMe,K wrote: »

Thinking about this some more - you should probably pull the property off the market for a few months. Buyers who see a house up for months with no movement will likely assume its either not really for sale, has something significant wrong with it or they can get it for a knockdown price.

Thinking of giving it about another month and then re letting.

Dav010 · 27-09-2019 11:53am

Cat_M wrote: »

Thinking of giving it about another month and then re letting.

If property prices drop your area, and your house isn’t as appealing to others as new builds, the value could drop more while you are stuck with tenants you may not be easily able to remove when you do want to sell in future.

I’m afraid that it seems obvious to everyone except you what your problem is, and it isn’t the bus, with so few viewings, people literally are not getting to the point of seeing this bus.

Cat_M · 27-09-2019 12:43pm

Dav010 wrote: »

If property prices drop your area, and your house isn’t as appealing to others as new builds, the value could drop more while you are stuck with tenants you may not be easily able to remove when you do want to sell in future.

I’m afraid that it seems obvious to everyone except you what your problem is, and it isn’t the bus, with so few viewings, people literally are not getting to the point of seeing this bus.

Price is dropped by 10K but I still can't get my head around some opinion that I also need to fork out a few grand as well to improve it internally Soffit and fascia, okay, I'm going back to considering that idea despite being advised not to but to. Yet with regard to replacing kitchen doors that another person may not even like, I'm slow to take on. I painted all the kitchen presses before sale to improve them. Yes it has an older kitchen but the place is in good shape, very clean and repainted in full inside and outside in whites and creams. Sure, we'll see how it rolls cos re-letting option makes me more depressed and delayed me getting to market in first place. I've been advised that after only 6 months the required notice is 4! Minimum from experience.

Addle · 27-09-2019 12:45pm

You’d be surprised how many purchasers have no imagination or don’t want to do any work.

Dav010 · 27-09-2019 12:48pm

Cat_M wrote: »

Price is dropped by 10K but I still can't get my head around some opinion that I also need to fork out a few grand as well to improve it internally Soffit and fascia, okay, I'm going back to considering that idea despite being advised not to but to. Yet with regard to replacing kitchen doors that another person may not even like, I'm slow to take on. I painted all the kitchen presses before sale to improve them. Yes it has an older kitchen but the place is in good shape, very clean and repainted in full inside and outside in whites and creams. Sure, we'll see how it rolls cos re-letting option makes me more depressed and delayed me getting to market in first place. I've been advised that after only 6 months the required notice is 4! Minimum from experience.

Regardless of work that needs to be done, if you are not getting viewings, it’s the price that’s wrong.

Worried I won't be able to sell

Comments