Trying to sell
The Iran War has absolutely done us over. Our 3 bed semi house back on market end of Jan (after failing to sell last year), accepted offer within a week. Took a few months to find a house we liked and had offer accepted. But by this point Iran war had sent interest rates rocketing and our buyers pulled out as soon as we want to start getting solicitors involved, because of the rates. We’d managed to time a mortgage application just right to get it in before the rates rocketed - so we’ve got 5 months to complete.
We’ve now been back on the market for a month and had only a couple of viewings. Seems hardly any buyers out there for a 3 bed semi in a sought after area with great schools. ‘A buyers market’ were being told.
The owners of the house we had offer accepted on are waiting for us but wont wait much longer. Our estate agents are suggesting we lower the price to trigger the Rightmove alert (bear in mind we’re already on a price £25k below where we started last year). There’ll be no going back if we do that - do we just do it and hope we get an ok offer knowing it’ll be a long distant memory in ten years, especially if we have to start again further down the line with a new mortgage application at higher rates.
So the question is - lower the price to trigger Rightmove and maybe get some more interest? Or ride this period out and hope we snag someone?