jon.n.bec

Well we have spent the last few months getting the house ready for sale or rent. We would love to keep the house initially (in case we don't like/ can't settle in Australia) and rent it out, but are a bit put off by the hassle that may go with it, (bad tenants, repairs etc.)

So we decided to get it valued for sale, we had two agents out yesterday to measure up and look around, we were totally shocked by the valuations but think they must be right 'ish' as they were both very similar, so we've got another different agent coming out later today to give their opinion, and to see if it's similar to what the other two were saying. Then when we've got all the info we will sit down and decide what is the best thing to do for us.

How have others recently putting their house on the market (sale or rent) found things, have you been shocked by your valuation? had many viewings? had decent offers/silly offers etc. and how long has it taken or taking?


Sorry for all of the questions, i just don't want to rush into making a decision without hearing feedback from real people who are going through a similar thing, rather than agents with the sales patter wanting to sign you up, and get your money!!


Thankyou, Bec

Lois1

We had our visa granted in feb and although we dont intend to make the move until Sept/Oct next year we thought we would get valuations with a view to going on the market.

We have bought and sold a fair bit in the last 7 years, and always looking for new "projects" etc so had a rough idea what we thought we would get. The agent valued it at £10K higher than we thought ! so far so good.

We put it in the market at £5K less than the valuation and although we did have a few viewings- about 5 i think, we had no offers. Within 2 weeks the agent suggested we drop it by about £20K !! - dont you just love 'em !

We said no, we have since dropped it by £10K and have only had 2 viewings at the lower price, stil no fixed offers though. Spoke with the the agent yesterday and when our agreement expires (end of June) we are going to take it of the market with a view to trying this time next year.

We wanted to sell asap as it was one less thing to worry about and would of
rented for the next 12-18 months, but to take a large drop in price and then stil have to fork out on rental is not something we are going to do.

If we dont sell it then we will have no option but to rent it out, though would prefer to sell ideally. Shame we havent got a crystal ball as wonder what the value would be in a years time!? Could even be less? Then again, not prepared to "give it away" so if it means we have to let it for 5 years until prices recover then so be it. Not ideal as would like to buy in Oz asap

jon.n.bec

Well we've just had our 3rd and final valuation, and its different to the other two!!, so who do you believe? it's all so confusing. After 3 valuations none of which are anything like the figure we had in mind, we're even more confused!!

And like you say, if you leave it a year or however long your still not guaranteed anything and don't know what the market will be like, i've got a feeling this is going to be a stressful few months!

Betty Boot

It is very stressful! And to be honest, it's only worth what someone is prepared to pay for it at the minute! We have been on the market about 6 weeks without a single viewer, reducing by 10K and still not a viewer. I feel unless we actually give it away then no-one will be interested, it is a lovely house/area and these houses used to get snapped up, now they are on the market for ages We are going to have to rent out - infact i started a thread on this a while back, seems many people are having to do this. Good luck.

jon.n.bec

I think were just going to have to go for it and take our chances, we moved in April 2010 so have been here just over a year, in our minds we thought we could sell it for £80,000 more than we paid and thought that the agents would say something similar give or take a few thousand, however the one that came today is telling us to put it on for £138,000 more than we paid for it just over a year ago, just can't believe someone would pay that much, but they're the ones who supposedly know the market and know what they're talking about, think we're also just dreading the whole process of being messed around, and dealing with useless agents, and the unknown!

Blond1e

Good luck!! we're been up for sale for almost 3 weeks at a very competitive price and not even a sniff of interest. We will probably rent it out when we go in August.

A horrible time to try sell a house now as no one is buying but BEST of luck!

Bermudashorts

Why are you in a dither about selling the house for 80k or 138k more than you paid for it. If you were saying 80k less then I would understand your concern, but more??

simo71

Hi,rent it out and see if you can settle here.
I wish we didn't sell our flat in London.
So far things are not going well for us here in Sydney and if we go back to London we'll be back renting!

bingobob777

House prices have fallen in the last 12 months in the UK. Unless you bought an absolute wreck and spent 12 months modernising it why would you be able to sell it for 80k more, never mind 138k?

CAdreaming

ive just come over to US and rented out my flat in london - it went quickly and i have a management company looking after it for me

Beoz

here here ..... 80k increase in the last year in the current UK market. Sell Sell Sell.

I know renting it out can be a pain. Especially when abroad but is it really that bad if you have an agent, and hopefully long term tenants. Naturally things will need repairing and there will be other hitches but is that really a reason to stop renting out a place from abroad? Long term house prices go up, they always do.

bingobob777

jon.n.bec

Yes we have 'modernised it' as you put it, but getting the initial price wrong can be disastrous, as if its overpriced obviously it wont sell, and in the first few weeks is when you get the most people through the door so would like to get the price right from the start rather than have to wait around and then start dropping the price.

In the town that we live in the house prices in general have definitely increased over the last year, a house that we looked at buying last year for £220,000 are now on at £260,000 (for the same style house, not that exact one!), and they do seem to be selling, its the higher priced ones on our road that seem slower £750,000+

I suppose we wont know if theres interest or not until we sign up with one of the agents, but all 3 agents admitted that it was very hard to value because its individual and non estate position, they've got nothing to compare it to, which isn't that helpful for us!

Lois1

As the agents are saying that its hard to price because of its inviduality, and the figures you have given have exceeded your expectations, perhaps it might be worth considering marketing it in a slightly different way?

You could suggest "offers in excess of £?K", or alternatively "guide price £?K to £?K". No one says you have to take any offers below what you want for it, but it may allow more opportunity to get viewers thru the door, particularly if its individual and hard to compare. Perhaps a better option that putting it on at a figure that is really only guess work and then reducing it weeks later?

Just an idea .

rozellem

London still seems to be doing well. We have our flat on the market in North London and have tons of viewings and quite a few good offers. It went on the market in the beginning of March and we excepted a offer 10 days in. I forgot what a long drawn out process it is over there as we are only exchanging tomorrow. We had asked the agents to keep showing it as we were a bit afraid the buyer would bolt. I had a designer friend stage our empty flat with 700 pounds worth of furniture and bits from Ikea and were even offered 3000 pounds to leave the furniture! But reports from other parts of the UK still seem pretty grim. Good luck.