Trouble selling house

miss choc

In the process of trying to sell my parents house in the country (they moved to a smaller cheaper place in the town) it has been on the market a good while now. A few people looked at the start and luckilly had a neighbours friend from UK who was interested in moving over, we went to the whole process but their solicitor was stalling picking at everything and unfortunately due to unforeseen circumstances she pulled out due to sickness as she couldnt move to Ireland for the time been. It was unfortunate as we were so close to getting the house sold. The house price came down considerably by 100k since the boom times. The agent rang yesterday saying another couple had looked at it but wanted to offer 12k less than what the UK woman was offering last year. I refused straight away it would be an insult I know in this day and age beggers cant be choosers but they would be getting it for 125k less the asking price in 09 :eek: It is a good 3 bed double glazed, new bathroom large garden etc just in need of modernisation and all the fees on it has been paid so frustrating. I don't really want to cut my losses and sell it for that even though it would be a weight off my shoulders I am trying to be as reasonable as possible and negociate fairly. I have it with a small town agent I think they get limited viewing though I was wondering if I could advertise it on a more broad spectrum ie DIY websites, newspapers/magazines here or abroad anyone any advice or sold it by themselves. Would love to get this sold this year

Frank Black

miss choc wrote: »

In the process of trying to sell my parents house in the country (they moved to a smaller cheaper place in the town) it has been on the market a good while now. A few people looked at the start and luckilly had a neighbours friend from UK who was interested in moving over, we went to the whole process but their solicitor was stalling picking at everything and unfortunately due to unforeseen circumstances she pulled out due to sickness as she couldnt move to Ireland for the time been. It was unfortunate as we were so close to getting the house sold. The house price came down considerably by 100k since the boom times. The agent rang yesterday saying another couple had looked at it but wanted to offer 12k less than what the UK woman was offering last year. I refused straight away it would be an insult I know in this day and age beggers cant be choosers but they would be getting it for 125k less the asking price in 09 :eek: It is a good 3 bed double glazed, new bathroom large garden etc just in need of modernisation and all the fees on it has been paid so frustrating. I don't really want to cut my losses and sell it for that even though it would be a weight off my shoulders I am trying to be as reasonable as possible and negociate fairly. I have it with a small town agent I think they get limited viewing though I was wondering if I could advertise it on a more broad spectrum ie DIY websites, newspapers/magazines here or abroad anyone any advice or sold it by themselves. Would love to get this sold this year

For a start, stop comparing the price now with 2009 prices. We were in a bubble and prices will not reach that level again for decades probably.
Your estate agent should be able to give you a reasonable estimate of what similar property is moving for in the area. If you wish to sell the house you need to drop your asking price to this level to get viewers in the door.
After that it's a case of de-cluttering and de-personalising the house as much as possible. Enure it's spotlessly clean whenever you have viewings arranged.
If you're still clinging to the concept of 2009 prices, just take the place off the market as you'll only annoy yourself.

CreepingDeath

miss choc wrote: »

The agent rang yesterday saying another couple had looked at it but wanted to offer 12k less than what the UK woman was offering last year. I refused straight away....

Have you searched daft/myhome.ie yourself to look at the prices of comparable 3 bed houses in the area?
Do you think your house compares well?
Is it in the middle of nowhere, or does it have good access to schools, shops, amenities etc?

miss choc wrote: »

just in need of modernisation

Buyers really don't want to modernise a house unless they get the house at a bargain price. Even then, it means they've to take on a lot of work or hassle with builders.
It could easily cost €20+k for new heating system, new kitchen, new bathrooms, rewiring, new floors or carpets etc, etc...

TwoShedsJackson

The asking price in 2009 has absolutely nothing to do with anything, prices have dropped 40% since then. It sounds like you were mad not to take the offer you had - what exactly are you holding out for?

I am trying to be as reasonable as possible and negociate fairly.

This sounds like you just want a price no-one will pay - at the end of the day the house is worth what someone will give you for it now - what it went for in 2009 or 1896 has no bearing on it whatsoever. If you really want this load off your mind take the offer.

D3PO

op your a pleb. you dont have trouble selling you have trouble accepting what the house is worth.

if you want to sell you can sell. You dont.

The offer you got wasnt an insult your lack of a grip on reality is the only impediment

EricPraline

miss choc wrote: »

The house price came down considerably by 100k since the boom times. The agent rang yesterday saying another couple had looked at it but wanted to offer 12k less than what the UK woman was offering last year. I refused straight away it would be an insult I know in this day and age beggers cant be choosers but they would be getting it for 125k less the asking price in 09 :eek:

OP, you should forget what the property was worth during the boom, in 2009, or what the UK woman offered last year. In the case of the former, many properties have lost 50%+ of their value. In the case of the latter, who knows whether she would have actually been able to follow through with that offer.

Use the Property Price Register to find what houses like yours are actually selling for. If they're selling for less than the figure you are holding out for, then the problem is with your asking price. Don't try to justify any difference based on nice windows or tasteful decor. And if there have been no sales in your area in the last 12-18 months, then you may want to seriously reconsider that offer.

Finally, try viewing this as a business transaction. Getting "insulted" by an offer in this market is not going to help you sell this house.

quad_red

miss choc wrote: »

I refused straight away it would be an insult I know in this day and age beggers cant be choosers but they would be getting it for 125k less the asking price in 09 :eek: It is a good 3 bed double glazed, new bathroom large garden etc just in need of modernisation and all the fees on it has been paid so frustrating.

You're getting insulted when people put an offer in and you wonder why you can't sell your house?

No one is making your accept anything. You would've been happy to have people pay you the market rates in 2007/2009 etc.

Now people aren't going to pay you over the market rates.

djimi

So you have a house in the country, which has had little interest, and you are turning down an offer that isnt too far off one that you accepted this time last year? Are you mad? Either you want to sell the house or you dont. If you want to sell the house then you have to accept that nobody is going to offer you your asking price, so you need to get realistic about that for a start. €12k below asking is probably not an unreasonable starting point; you didnt have to accept that offer, but have you never heard of negotiation?

Jonti

We bought a house during the boom for €280.000. A house in the same estate sold for €110,000 not long ago.
I someone was to offer me between €100,000 and €110,000 I'd bite their hand off and think that I'd won the lottery! prices will only go down further, so wake up to reality. Either sell the house at the going rate or wake up, you must be dreaming if you think you'll get your asking price, whatever that may be!

the_syco

miss choc wrote: »

but they would be getting it for 125k less the asking price in 09

2009? Who gives a sweet f**k. It's time to wake up, and get emotionally detached from selling the house, or you'll never sell it.

Google "Negative Equity". It's existed since the bust. The reason for it is that peoples houses are not worth much. If you want help, post up a link to the house, but be prepared for heavy criticism.

username123

You turned down an offer that was only 12k less than an offer last year? How much have you spent on insurance, maintenance, tax and advertising for sale in a year? How much have prices dropped in a year?

Forget the asking price in 2009. Its 2013 now and if you had priced it properly in 2009 you wouldnt still be trying to shift it 4 years later.

What you are doing is chasing the market. This time next year someone could offer you 20k less than the offer you just turned down and you will curse yourself for not biting their hand off to have it instead of being insulted at a fair offer.

As another poster has said, post a link to the house, but be prepared for heavy criticism.

miss choc

Thanks for all the responses guys I know I needed some other opinions I am well aware I will never ever get old prices not now or never. I just needed someone to give me that kick up to tell me I'm on my own doing it for my mother so just needed other opinions. There is no point getting sentimental it holds a lot for me that house but I need it to go to a good family have it lived in again so to speak there are so many houses lying idle it's a shame. I know if my Dad was alive he would have told me to let it go no point holding on it's sitting there might never get another offer. Going to leave it at the weekend and see what happens the thought of having to pay charges for it again this year would drive me mad. Better money in my pocket than sitting there year after year with a further decreasing price and probably no offers.

D3PO

miss choc wrote: »

Going to leave it at the weekend and see what happens .

why would you even leave it for the weekend. if you getting an offer 12k less than last year regaless you should bit their hand off now. Forget falling house prices the fact MIR is gone as of december is enough to accept that kind of reduction to offer prices this year.

ring them now say thans for the offer and accept it. waiting for the weekend does nothing for you

Ritchi

If it's a first offer, they will probably offer a few grand more. No harm in trying to get even more for it, but you'd obviously risk losing the sale altogether.

miss choc

He only rang me at 5 yesterday evening and I was busy today I will give a ring next week to see what update is.

djimi

D3PO wrote: »

why would you even leave it for the weekend. if you getting an offer 12k less than last year regaless you should bit their hand off now. Forget falling house prices the fact MIR is gone as of december is enough to accept that kind of reduction to offer prices this year.

ring them now say thans for the offer and accept it. waiting for the weekend does nothing for you

I certainly wouldnt accept the offer straight away, however I would be looking to open negotiations with the potential buyer. If it were me Id be prepared to accept their offer, but Id be pushing them to get a little bit closer to the asking price first. If they are absolutely not going to budge on their offer then its up you to decide if you want to accept it or not, knowing you might not get a better one (or one at all) for a good while after.

Galego

miss choc wrote: »

Thanks for all the responses guys I know I needed some other opinions I am well aware I will never ever get old prices not now or never. I just needed someone to give me that kick up to tell me I'm on my own doing it for my mother so just needed other opinions. There is no point getting sentimental it holds a lot for me that house but I need it to go to a good family have it lived in again so to speak there are so many houses lying idle it's a shame. I know if my Dad was alive he would have told me to let it go no point holding on it's sitting there might never get another offer. Going to leave it at the weekend and see what happens the thought of having to pay charges for it again this year would drive me mad. Better money in my pocket than sitting there year after year with a further decreasing price and probably no offers.

Do yourself and your mother a favour and let it go for that offer which you have received. Prices for houses in the country are only going to head one direction in the next 5 years and that is down. Plus remember that one euro today is worthier than one euro in 5 years.

whippet

jaysus ... forget about 2009 prices, i bought a house for €315k that was originally advertised for €1.2m in 2009 ... them days are long gone and will never return!!

riclad

I know areas of dublin,where prices have gone down 65 percent since 2008,
unless you have a mortgage ,2009 price is completely irrelevant.
MIR went last year,so for most people there,s no tax credits avaidable
when buying a house.
There was abit of a boost, last year, people were maybe buying, to beat the mir deadline.

NIMAN

whippet wrote: »

jaysus ... forget about 2009 prices, i bought a house for €315k that was originally advertised for €1.2m in 2009 ... them days are long gone and will never return!!

So true.

I would have got €185k for my 3 bed if I had sold it in 2007
I got €85k for it when I sold it last year.

There was an article in the local paper up here in Inishowen where a house that was going for €310k at the peak, sold for €55k.

Time people stopped thinking about what houses used to be worth, and price them for what they actually are worth now.

Victor

D3PO wrote: »

op your a pleb. you dont have trouble selling you have trouble accepting what the house is worth.

if you want to sell you can sell. You dont.

The offer you got wasnt an insult your lack of a grip on reality is the only impediment

While it is useful to 'call it as it is', there is no need to be insulting in doing so.

Moderator

miss choc

Thank you Victor everyone is entitled to their opinion on boards and all I asked for was constructive advice. Thank to the the other posters who gave me advice as it has helped. Name calling is just childish when someone is just genuinly asking for a bit of advice :rolleyes:

the_syco

miss choc wrote: »

I asked for was constructive advice

So, have you lowered the price or not?

dearg lady

maybe I'm missing something, but what were you waiting for, did you go back to them with a counter offer somewhere in the middle?

Rasmus

OP what happened so? Did you accept an offer?

miss choc

I asked the agent maybe to negotiate to a few thousand more on Friday and he said he will get back to me. Due to personal circumstances I will probably take the offer as I have other stuff going on at the moment too so I could do with this house out of the way.

the_syco

miss choc wrote: »

but they would be getting it for 125k less the asking price in 09 :eek:

miss choc wrote: »

I asked the agent maybe to negotiate to a few thousand more on Friday and he said he will get back to me.

Best of luck with that. Hopefully the other couple has since found a better house than to be messed around with yourself. Still no link, so I'm assuming you know it's not worth much, but don't want to admit it to anyone?

Frank Black

the_syco wrote: »

Best of luck with that. Hopefully the other couple has since found a better house than to be messed around with yourself. Still no link, so I'm assuming you know it's not worth much, but don't want to admit it to anyone?

I wouldn't bother posting a link OP - doubt you get very much constructive advice from this thread - just a few posters looking to take some cheap shots.

the_syco

black francis wrote: »

I wouldn't bother posting a link OP - doubt you get very much constructive advice from this thread - just a few posters looking to take some cheap shots.

Yus. Cheap pot shots indeed. Here's an example of such pot shots, from another post. In it were the following;

the_syco wrote: »

1st photo; dull
2nd photo; get rid of the child gaurd and mat
3rd photo; needs a wider shot during a nicer day
4th photo; I can't see anything, and wonder what you are hiding.
5th photo; nice shot. would look better if the the camera was held in line with something (wall, bed, etc) so it's not crooked looking
6th photo; needs a wider shot, and also it's crooked
7th photo; oh back downstairs now? better lighting than the 4th photo, but needs a wider shot
8th photo; less dull than the front, but a blue sky would be nice
9th photo; looks very good. maybe take the shot when the shadow of the house is not there?
10th & 11th photos; good shots, but again, a photo with no shadow would look better

Light is everything. You want to make the house look brighter, as bright houses are appealing. If someone is looking at places, a dull overpriced house will get skipped, but a nice looking house over their budget will still get looked at.

The inside photos look like you just went around and took photos. You want to appeal to people, so get someone who has a proper camera to take shots (they can take in more light, which make the house look better), and stage all the shots, minus any baby gear. You do not want to tell a new couple "you need a new gate here, here, and there, and over here as well...".

Finally, take them in some order. Outside front, outside back, inside, then upstairs, so that the person will have an idea of the layout.

Photos missing;
Walk in Wardrobe off Master Bedroom with radiator
Bathrooms
Ensuite bathroom (this could be a dealbreaker to a family with kids)
Picture of rear shot from within a bedroom to show off the view. Sunny blue sky mandatory.

Gambas

miss choc wrote: »

the asking price in 09 :eek:

Asking prices are figures plucked from thin air. They have no value.

09 is most of the way back to the boomiest of inflated boom prices.

Your house is worth what someone will pay for it in 2013.

The_Conductor

Guys- I have to concur- the OP has 'gotten' what you're saying about the price. Stop nailing her with cheap shots. If you don't have something constructive to say, without deliberately being snide and offensive towards the OP or other posters- don't say anything at all. Its not hard to remain civil towards one another........