The Accidental Smallholder Forum
Community => Coffee Lounge => Topic started by: Rosemary on November 05, 2009, 05:59:58 pm
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We've just had an estate agent (from a rural estate agency) out to look at our holding and give us some idea of what it's worth. He reckons there are three problems - our proximity to the river because of the flood threat ( I can understand this - although we've always considered the proximity to the river a bonus - but it's tidal and has a way way to go before we get our feet wet); the drive in through a small industrial estate (it isn't lovely, I'll admit but it's not awful or maybe we're just used to it) and thirdly, that we don't have enough land for the equestrian market (no room for a pony, Hyacinth) but it's too big for a garden. On the third count, I think he's tallking mince.
He liked the house though. I feel a bit deflated. Anyone want to buy our house?
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Anyone want to buy our house?
Want to? Yes, almost certainly!
Afford to? No, probably not these days! ::)
Seriously though Rosemary, if you've got any details, do drop me a line, as you never do know.....
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I can understand how you feel Rosemary, and it is a difficult time to sell anything at the moment,
so I think he was being negative because he knew he wasn't going to have anyone he could just
phone to sell it for you.
The River will be a benefit to fishermen, a B & B with fishing rights, someone who might want to
go boating or put a boating type of tourist attraction along with the house.
Think what will benefit people from your experiences.
You have set up a brilliant smallholding, run workshops and training from there, and business, thats an awful lot of work
so its a ready made smallholding already.
A lot of people would not know where to begin to just design the garden and put together the pig area, hen area etc, so
theres a lot of building and hard work on offer to a suitable purchaser - maybe a single parent, or a newlywed couple with
a dream and ..... a cash buyer wanting to relocate is your dream.
I hope you can feel more positive now, and put an ad on the website with photographs and get Dan to help.
I am sure someone will come along.
Good Luck
Julie
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Personally, I have very little faith in estate agents - especially as my sister worked VERY BRIEFLY for a firm (she was just disgusted by their antics!)
IMHO no-one can really put an accurate value on what a house is worth - bricks and mortar maybe, but not the whole set-up. It just depends what people are prepared to pay. You and Dan liked it enough to buy it - there will be others out there who are looking for exactly what you have, and if you get 2 interested parties - that's when the value really rockets ;)
The last twice we've sold houses we've done all the advertising ourselves - on-line, posters in local shops, post office etc made up schedules, done the viewings and handed everything to our solicitor to tie up the legals & financials. It saved a small fortune and we were able to answer the buyers questions there and then and I think were probably more successfull than the 'professionals' would have been.
If you really are thinking of moving I'd have a go yourself first, if you don't get any intrest at least you've saved yourself their fees ;D
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Don't let it bother you - the agent sounds a right prat!
Julie's right, everything can be turned round to a positive and more and more people want the 'good life' we TASers already enjoy...
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We've just had an estate agent (from a rural estate agency) out to look at our holding and give us some idea of what it's worth. He reckons there are three problems - our proximity to the river because of the flood threat ( I can understand this - although we've always considered the proximity to the river a bonus - but it's tidal and has a way way to go before we get our feet wet); the drive in through a small industrial estate (it isn't lovely, I'll admit but it's not awful or maybe we're just used to it) and thirdly, that we don't have enough land for the equestrian market (no room for a pony, Hyacinth) but it's too big for a garden. On the third count, I think he's tallking mince.
He liked the house though. I feel a bit deflated. Anyone want to buy our house?
I think the majority of these agents talk mince,
it's almost as though they only learn a few words and just repeat them continuously,
most of them are without vision or for that matter, any real idea about the meaning of the word "potential".
I hope you can find a buyer, despite the negativity of the agent/s.
:)
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Rosemary, I remember the first time I saw your place it was drizzling down, and grey as an old man's beard all over, everything was muddy and we were cold and wet as we looked round - and what did I say? Do you remember? I said it was the very place I had been looking for during the past two years so that I could move to the Central Belt to eb near my family. But if you sell it what will you be able to afford and where will you go?
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A caravan, if we believe the estate agent ;D
I'm going to teach the sheep to "mush" Time they started working for their living and stopped just eating and looking cute!
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;) ;D ;D ;D
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And what about these "home reports". What a con. I was told it will cost £700 to have one done and looking at the one we've got, it's not much different from a normal survey. The one we have is incredibly vague about things like the septic tank ie is there permission, a contract for cleaning. It's vague about the condition of parts of the buildings. It's just a bl88dy con.
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I knkow how you feel Rosemary. The same thing happened to us recently with the valuer from our mortgage company just looking at our place through a bankers eyes. He sid that our place was too unusual to be worth a viable market price.
We know from looking for a place around here that any smallholding is as difficult to find as hens teeth. This guy was talking about a value based on suburban prices. The sort of place that would be featured in Scotland on Sunday - all very nice with two people commuting all day and full fo mod cons like ice making fridges and other expensive useless timesavers. What these guys overlook is the the market for what we have - the marketing on our places wouldn't read like a feature in Homes and Gardens but more like an article in Smallholder Magazine. The Guardian - or is it the Observer do articles on interesting places to live. Happyhippy's ideas sound good and with your writing skills perhaps you should write an article for an appropriate national paper. Remember all that interest in the people wanted for the islands? This article could look at alternatives for people wanting to introduce some solid values in their lives at a time of economic pressure. :farmer:
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Tell this estate agent to naff off and get one that will tell you all the good points about your house. If he is this negative with you, how will he be with potential buyers? I am a great believer in fate and someone will come along with your vision and love your place. The house I am in now, you only have room to open the front door and you are on the steps, but as soon as I stepped over the threshold, I knew it was the house for me. Thought I lost it because someone had put in for it, but their mortgage fell through on the same day that I sold mine. Anyway, not everyone want 20 acres. Some of us do want 1/2 acre or even less. My problem when selling, is keeping the house tidy - very messy person. Good Luck. :cat: :chook:
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Here's something I found on ebay http://cgi.ebay.co.uk/Charachter-3-acre-Smallholding-3-bed-Farmhouse_W0QQitemZ300361596523QQcmdZViewItemQQptZUK_HG_Property_RL?hash=item45eef23e6b (http://cgi.ebay.co.uk/Charachter-3-acre-Smallholding-3-bed-Farmhouse_W0QQitemZ300361596523QQcmdZViewItemQQptZUK_HG_Property_RL?hash=item45eef23e6b)
I know it's in Wales so for comparitive value it might be way off. And although you might not actually have anyone buy it, it's a great way of advertising and getting people's attention.
The right person for your house is out there - you've just got to make sure they find it ;D
I know Lawrie & Symington at Lanark market have a property department, what about your local auction house ? Farm and agricultural suppliers ? I would target all the places where likeminded people visit on a regular basis, just a poster with a photo of the house, brief description, price(get a surveyor to give you an accurate value for bricks and mortar, then modify it within reason to what YOU think it's worth, not an estate agent who's only looking at the commision they're likely to get) and contact details - you're bound to get interest.
And hey, so what if there's no room for a horse ? You've got Smokey close enough to visit easily, so anyone with a horse can be told there is livery available nearby - don't be put off by this numpty of an estate agent, like r+lchick says, if he can't be positive with you (who's money will be lining his pockets, if you decide to use his company) he's going to be no good whatsoever at marketing your property in a positive and assertive way. I would really urge you to have a go yourself first - you KNOW all the in's and outs, positives and negatives and as long as you're honest and open with potential buyers you'll be way better than anyone else at selling 'the dream' ;D
Good luck Rosemary & keep us posted
Karen x
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Rosemary - You are in a better position than most - here is where you will sell your house.
Put something on your home page, and marketplace in here - you have the audience.
I sold my house private once in Yorkshire in a time of recession, I did a lot more work than 10 estate agents!
Just a word of caution - the only downside of selling my own home was that when I wanted to put a deposit
on somwhere I found to buy, once I had my buyer (who was in a chain) my offer & deposit was declined
unless I appointed an Estate Agent - basically jobs for their friends :o ::)
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Just a word of caution - the only downside of selling my own home was that when I wanted to put a deposit
on somwhere I found to buy, once I had my buyer (who was in a chain) my offer & deposit was declined
unless I appointed an Estate Agent - basically jobs for their friends :o ::)
Things are different in Scotland. You appoint a lawyer to act for you not an Estate Agent - they submit a Noted Interest' then the property, in theory anyway, cannot be sold without reference to you first to see if you are able to offer. Thus offers are made though a lawyer.
Rosemary, if I could sell mine I'd buy yours - no problem! Why do you want to sell anyway - more land?
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Estate agents - waste of time - really are!!!
you should have a quick read of Freakonomics - although a US based bit of research, it turns out that because of the commission they receive an estate agent is likely to accept a lower offer for your house than you would because the difference in the sale price to their commission is minimal - and any sale is better than none
i.e. they get 1.5% of the sale fee for the "work" they do
if your house is worth £100k, they stand to get £1500 if it sells for that amount
however, it might take them 60 days to sell it at that price.
however, they might get an offer of £90k in 30 days - giving them a £1350 commission - losing only £150 - but losing you £10,000!!!
they just want to turn numbers
The "sales" patter goes like this - when they come to value your house, oh, yeah, great house, easily get £115k for it in todays market. Then you sign up and after 3 weeks - no interest. then they tell you that YOU are asking too much for the house and suggest dropping the price to £100k.
The lassie that owns the house upstairs from me is thining about selling and we have been having conversations about us buying it from her. Now, it's a 2 bedroom flat whose only access is via a door opening onto a 60mph road - all be it a b road, the cars fly by!!
she wants to sell it with NO LAND AT ALL so she can keep it for her horses/stables and leave her caravan on site.
The estate agent told her she could get £190k for it!!!!! ha ha ha ha ha ha ha
Our house is twice the size of hers (we have 3 extensions out the back and sides) and comes with half an acre of land and a stable block - and it cost £250k (just before the house prices crashed)
I was prepared to give her £100k for it. But £190k - ha ha ha ha ha ha ha ha ha
I told her she should bite their hands off and sell it for that amount.
but a house - any house - is only worth what someone will pay for it. the best way to test the market is to put it up for sale and see if anyone bites at your price.
Also, on the subject of estate agents/solicitors - if you want to get a home report done - you don't have to get them to do it, just go direct, you'll get the same service for half the price - just for the cost of a phone call. Try listing the house yourself on Gumtree and S1Homes - sell it privately. The solicitor will still do the conveyancing - and probably cheaper too if you hunt around
anyway, rant over!!!
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Hello Rosemary
The agent was probably trying to bring down your expectations of the value. Once he has done this, its then easier to get it sold. Imagine for example a house with a real ' can be sold very quickly ' value of £200,000. The agent knows he can sell quickly at this figure. However when he values it for you, your figure is £250,000. He then will trot out all the bad points , true or otherwise to get you adjusted.
In my mind ANY property with an estabnlished small holding has a fair to good value these days. I would drop agents, and go on line, find all forums related to small holdings and gardeners.
Kevin
PS Its good to be back.
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We moved twice..both houses had something wrong and both sold very easily, both for the price we wanted!!!!! One house the estate agent gave a very low valuation and we said we wanted much more and he said no way will you get that, course we did!!!!!! As you know, it's all about supply and demand, both our previous houses were in good locations and suited a certain lifestyle...well your certainly dose...It would suite a lot of us on this forum for a start!!!!!! The location is a bonus as you are private and secluded yet in the middle of a small town that is undergoing re generation!!!!!!! I bet you will be inundated with offers!!!! I wounder where you are going?????? ??? And, it would suite Anne, ideal for you....just need a bit of extra cash ;) ;)