Do potential buyers actually look at the property details?

[Spudler]

OneTwo said:

Bed 1 = 3.75m x 3.25m
Bed 2 = 3.00m x 2.85m
Bed 3 = 2.10m x 2.05m

What more can I do?

Knock bed 2 and 3 into one bedroom.

Then you'll have a decent two bed house to sell to a bigger market.

[OneTwo]

Thanks for the comments. I've had a look at the other 3 bed houses within 0.5 miles that are £20k +/- and of the 9 available mine has the smaller rooms but is definitely the best presented and most of the others are semis, particularly the cheaper ones.

I've had it as a BTL for the last 15 years and none of the 6 tenants have mentioned the room sizes (small families and single professionals). It's never been on the lettings market for more than a week before so my initial refusal of the early offers was based on its previous attractiveness.

Those that are scoffing at me refusing the 4% below offer, the revenue from this house is funding several personal and professional projects, £10k below my expectations will make a difference.

If I was selling to move up the ladder it would just be a small increase in the future mortgage, but in this instance I have a minimum threshold I need to achieve that is less negotiable.

[yajeed]

OneTwo said:

Thanks for the comments. I've had a look at the other 3 bed houses within 0.5 miles that are £20k +/- and of the 9 available mine has the smaller rooms but is definitely the best presented and most of the others are semis, particularly the cheaper ones.

I've had it as a BTL for the last 15 years and none of the 6 tenants have mentioned the room sizes (small families and single professionals). It's never been on the lettings market for more than a week before so my initial refusal of the early offers was based on its previous attractiveness.

Those that are scoffing at me refusing the 4% below offer, the revenue from this house is funding several personal and professional projects, £10k below my expectations will make a difference.

If I was selling to move up the ladder it would just be a small increase in the future mortgage, but in this instance I have a minimum threshold I need to achieve that is less negotiable.

I don't think people were scoffing, though ultimately it's worth what someone will pay, and what you need to realise from the house obviously won't influence that.

That said, you're not far off what you want, so hopefully it's just a case of sitting and waiting for a buyer. I assume you countered against the 4% but they didn't accept?

[C Lee Farquar]

People tend to tell white lies when giving feedback to agents. They say what they think won't offend or make them feel uncomfortable.

There's probably other reasons, it may be that it doesn't come across as homely. Whatever, don't take the feedback at face value.

[skinnyman]

C Lee Farquar said:

People tend to tell white lies when giving feedback to agents. They say what they think won't offend or make them feel uncomfortable.

This is definitely true. When we were searching we viewed a few that looked nice in the photos, but it reality were shocking. It's mucvh easier to make something up, than it is to give feedback of "the house was a st hole".

[menguin]

StuTheGrouch said:

Doesn't matter surely? If the room is 2 x 2 m then the bed will fit either way.

If the door opens inwards which is normally the case then it will open to a maximum of 9cm?

[mikeiow]

OneTwo said:

Thanks for the comments. I've had a look at the other 3 bed houses within 0.5 miles that are £20k +/- and of the 9 available mine has the smaller rooms but is definitely the best presented and most of the others are semis, particularly the cheaper ones.

I've had it as a BTL for the last 15 years and none of the 6 tenants have mentioned the room sizes (small families and single professionals). It's never been on the lettings market for more than a week before so my initial refusal of the early offers was based on its previous attractiveness.

Those that are scoffing at me refusing the 4% below offer, the revenue from this house is funding several personal and professional projects, £10k below my expectations will make a difference.

If I was selling to move up the ladder it would just be a small increase in the future mortgage, but in this instance I have a minimum threshold I need to achieve that is less negotiable.

Sorry, but just because you want the money for some pet projects doesn't mean you will get it. "Needing to achieve" a price means you may be into a long time on the market. Fine if you think that market will hold or rise, but losing you rental income and cash...

That many viewings & only that one rejected offer suggests quite simply you have it priced too high. Sorry.

Sounds like the property is around the £250k mark: is it a bit over (& therefore stamp duty is an issue)?
Have to say I think many people (especially in these slightly "uncertain times") will want a discount on an asking price. I'd expect at least 5%. Unless it is a dream forever home, of course.
Deciding to reject one that is within 4% of an asking price means you probably rule out a chunk of buyers.
Not sure whether the agents are explaining to prospects that you are really looking at getting the asking price and this puts people off.
& yes, that third bedroom really is a box room....you could put some small bed in, but really then you are into dressing the entire house or that would look odd....

[Kermit power]

mikeiow said:

Sorry, but just because you want the money for some pet projects doesn't mean you will get it. "Needing to achieve" a price means you may be into a long time on the market. Fine if you think that market will hold or rise, but losing you rental income and cash...

That many viewings & only that one rejected offer suggests quite simply you have it priced too high. Sorry.

Sounds like the property is around the £250k mark: is it a bit over (& therefore stamp duty is an issue)?
Have to say I think many people (especially in these slightly "uncertain times") will want a discount on an asking price. I'd expect at least 5%. Unless it is a dream forever home, of course.
Deciding to reject one that is within 4% of an asking price means you probably rule out a chunk of buyers.
Not sure whether the agents are explaining to prospects that you are really looking at getting the asking price and this puts people off.

That's my view as well. Being British, we'll generally pay the asking price for a trinket in a Moroccan market where the stall holder expects to be knocked down to half price or less because we don't want to make a fuss, but for whatever reason, buying a house is the one transaction in which we invariably expect to haggle and get a discount. I think possibly because it's done through the intermediary of the agent, so we don't have to look the seller in the eye and feel like we're robbing them?

I certainly wouldn't pay within 5% of asking price on a matter of principle, as I would expect vendors to have set their asking price accordingly.

[TA14]

mikeiow said:

Sorry, but just because you want the money for some pet projects doesn't mean you will get it. "Needing to achieve" a price means you may be into a long time on the market.

It reminds me of many second hand car dealers these days who use the phrase 'the car owes me"

[alock]

Have you told the agent you wish you had taken the 4% offer? I think there is a legal obligation to pass on all offers but they might still be hinting to viewers that you have already rejected 4%.

[romeogolf]

At the risk of repeating what others have said.

(1) 4% below asking is reasonable. No further offers would indicate it's priced a little too high. Most buyers will review the online listing and mentally take £10k off to get an idea of what they might spend, not least because the search function might roll in £25k increments.

(2) The third bedroom is small. People renting are more flexible with their requirements because the rental market is generally buoyant and if they don't say yes quickly, it's usually gone by the time they decide. When purchasing, you expect to be in the home longer and make far more of a commitment to it, so are going to be pickier.

[48Valves]

OneTwo said:

mine has the smaller rooms but is definitely the best presented

This is the key bit for me. Most people will want to redecorate when they move in. It's more difficult to make rooms bigger.

As you mention it was a BTL. I presume that you have given it a lick of trade magnolia prior to putting it up for sale. Buyers will see through this. Even with the new kitchen and bathroom. Many buyers will look at it and think that it will need ripping out and replacing with something of their choosing.

[hyphen]

romeogolf said:

(2) The third bedroom is small. People renting are more flexible with their requirements because the rental market is generally buoyant and if they don't say yes quickly, it's usually gone by the time they decide. When purchasing, you expect to be in the home longer and make far more of a commitment to it, so are going to be pickier.

I think it is more than rent vs buy.

First time buyers are less picky, however is op is selling a detached with garage which is likely a second or third home for many viewers and could be there 'forever home'. Hence being more picky until they realise they have to up their budget or settle for smaller rooms.

[jet_noise]

OP - have you asked the estate agent whether that 4% offer is still there or if that buyer is still interested?

[LFB531]

The OP asked if people actually looked at the details before coming to view.......

I find that the combination of smart phone and microsites have made this more of a problem than ever. We get countless calls about houses where the caller has seen only the photos and short description before asking to view. They've not absorbed either the floorplans or the more detailed brochure we attach.

Maybe it's a particular problem with the town house/apartment market where layout varies massively but it is surprising how many folk are ready to give up spare time on a potentially wasted trip for the sake of just a few minutes reading.

Only yesterday, lady called from airport check-in queue to make a viewing appointment for today on a house with no garden.......but she hadn't read that bit. I could hear kids in the background and thought I'd mention it! That's what I call multitasking

[BoRED S2upid]

alock said:

Have you told the agent you wish you had taken the 4% offer? I think there is a legal obligation to pass on all offers but they might still be hinting to viewers that you have already rejected 4%.

That's a good point if the agent is telling everyone the OP is looking for asking price only and has already rejected a 4% offer this could be putting off any further offers.

[TA14]

BoRED S2upid said:

alock said:

Have you told the agent you wish you had taken the 4% offer? I think there is a legal obligation to pass on all offers but they might still be hinting to viewers that you have already rejected 4%.

That's a good point if the agent is telling everyone the OP is looking for asking price only and has already rejected a 4% offer this could be putting off any further offers.

Or ensure that the add says 'offers over'

[TA14]

LFB531 said:

Only yesterday, lady called from airport check-in queue to make a viewing appointment for today on a house with no garden.......but she hadn't read that bit. I could hear kids in the background and thought I'd mention it! That's what I call multitasking

So she should have done a bit more digging to weed out the unsuitable plots and leave them alone whilst looking for something with room to grow

[227bhp]

Buying and selling anything expensive (car, house) brings out the worst of human nature; deceit, greed, lies, laziness, mistrust etc.

[superlightr]

OP can you post a link to the advert?