House sale

Why did the previous offer fall through?

Estate agents know their local market inside out, and i would think that their suggestion to lower the asking price is a reflection that the current one is too high for the local market. Have you looked at similar sized properties in the area to see what the asking prices are for those houses and how they compare to your house?

They decided to go for a new build and part exchange.
Houses with 3 beds are going for 185000 and 4 beds like ours are over 200000.

Do the four beds over 200k have new kitchens and bathrooms? If so then the agent has already suggested to you that your property would achieve more if these were done but, quite rightly, that’s not something I would guess you want to do!

How many viewings have you had? What’s been the feedback?

My FMH was on the market for 8 months before we got a decent offer but I did have to reduce the price by 15k.

I was housed but the relief when my FMH was sold was huge, and it draws a line for you both.

Maybe ask another agent round to do a no obligation valuation and if they say lower than it’s current market price then you know your agent is telling the truth.

Yes they do and are achieving around 225000.
I can't afford to do anything to the property at all.
The feedback has mostly been positive and the main reason they don't want it the kitchen and bathroom but these are clearly visible in the brochure.
No one has complained about the price.
If the property is reduced I would never be able to buy a property again.

Is it worth calling in an other agent to value it?

You aren’t obliged to go with them to market the propety. It it gives you a second opinion?

And then you know if the current price is realistic or not.

If the kitchen and bathroom need doing then people will want to offer less as it’s costly work for them if they buy it.

My ex had the estate agent we are with written into the Consent Order so we couldn't change anyway.
It was valued by three estate agents when we went to mediation 4 years ago and they all valued it the same so I would expect they would be very similar now.

Just had another look at houses in our are in a similar state of repair and all are 200000 or over so I would say it is slightly undervalued!