considering the renting option wouldn't have left the OP in negative equity, its even 'deader' money.
This bit more than implies that it is an investment property that is unoccupied:There's nothing in the original post to say he/she isn't living in the house, so how is this wasted money? What about rent if he wasn't living there?
I do.tell that to anyone trying to sell
The house is 'worth' whatever you can sell it for
You wouldn't be putting the fact in the sales brochure. The OP wants to get his money back and make a profit so I'm thinking he's not quite ready to cut and run, my suggestion was an alternative that might be attractive to the OP.Why would the costs incurred by the OP have any impact on what price anyone else is prepared to pay for it today?
I don't, but droping 10% off of the price will provide an indication as to how far he has to go, baby steps is all he needs to take. Remember, you can't take a single approach to each individual local market so while your reliance on percentages etc might be well placed they might not be of great practical help to the OP.Btw how do you know what his property is worth (seeing as you're suggetsing not selling for less than its worth)?
Thats why I rubbed my two brain cells together and asked some pertinant questions as to how he is trying to sell the property, its not purely a question of price.He hasn't had any interest at the current asking price for 7 months, this would indicate to anyone with more than 2 brain cells that the property is not going to sell at that price, and hence the market doesn't think its worth 230k (even if it was worth anywhere near that someone might have enquired and made a lowball offer by now)
Would you not try to increase the chances of earning a higher sale price?And again: "not selling for less than it's worth". It's worth what someone will pay for it, and not a penny more.
A fine line I would say.There is a difference between putting a price tag resulting in a sale and giving it away.
If €210k is going to find some potential offers then €150 will find a pile of them. Then see where the price ends up.
if you were to see a house coming on at €150k that was previously @ €23ok and presumably by far the cheapest house in the area you would smell desperation.
The property was bought for €165k at the height of the bubble. Probably not wise to presume that an ~8% drop would make it the cheapest house in the area
This bit more than implies that it is an investment property that is unoccupied:
"some people say i should rent it but to be honest i want to sell it new and i dont want hassle of renting etc"
You can't very well sell it as new if it has had someone living in it.
it's interest only, it's just as much 'dead money' as renting would be
considering the renting option wouldn't have left the OP in negative equity, its even 'deader' money.
Was thinking the same thing. Works out at 5.45% on 100% Interest Only. Doesn't sound right.Correct me if I'm wrong but is €900 not a bit dear for an interest only repayment on a €196000 loan??.
Maybe if the OP remortgages and gets a better deal,they could start building up a bit of equity for when they do sell the house.
Bearing in mind they may have to wait a couple of years to sell if they want to get the price they are looking to sell it for.
everyone is entitled to make a profit.
Highly unlikely leaves room for optimism are you sure you meant that?
Anyone optimistic about a highly unlikely scenario is delusional or completely and utterly clutching at straws
I would say that if the liklihood is there however small is makes sense to at least investigate it. How can you say its delusional when you don't even say that its impossible or totally a non-starter.
Correct me if I'm wrong but is €900 not a bit dear for an interest only repayment on a €196000 loan??.
Maybe if the OP remortgages and gets a better deal,they could start building up a bit of equity for when they do sell the house.
Bearing in mind they may have to wait a couple of years to sell if they want to get the price they are looking to sell it for.
Jethro, he doesn't want to hear it. "Everyone is entitled to make a profit". This is the mentality. This is what has become of people in this country. OP bought at the worst possible time, but now expects someone not only to buy from him, but to hand him a €30k profit for no discernible reason. And when people try to tell OP how unrealistic this is, he accuses them of jealousy. It's pointless arguing with this troglodyte mind-set. He has his property on the market 7 months, no offers, and yet, still, "Everyone is entitled to make a profit" and the sense of entitlement - the magic Irish alchemy of turning nothing into something - reigns.
He's going to take a bath on this. Let him get on with it.
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