The houses that just won't sell - on the market for up to nine years!

[telespy]

Daily Mail article

The houses that just won't sell

If you've ever struggled to sell your home after putting it on the market, spare a thought for the owners of these homes which have been listed for up to nearly nine years without a buyer.

A £325,000 three-bedroom detached bungalow in Leicester has been on sale since February 22, 2012 - the longest time of any property in Britain, despite having an 'excellent sized loft' and garden with paved area.

Other properties on the market for a very long time include a £57,000 studio flat in Leeds since December 2013 and a £100,000 flat in Nottingham and £1.35million deluxe apartment in Central London, both since 2014.

[“Nasty Piece of work”]

 

Daily Mail article

What would be interesting is to drill down and examine the owner - and see what is driving these fruit-loops (Greed?).  But that would involve actual journalism, and I don’t think the DM can tackle that task.

[winkie]

Every house is for sale at a price.......no rush to sell but would consider it if the price is right......costs nothing to put on the market indefinitely.........find homes on market for many years in other places, until house price inflation eventually catches up with price asked.

[shlomo]

Sometimes people do not want to sell I have a friend who was given an inheritance of a part share in a house he does not want to sell as that is his childhood home, and he can do nothing in London with the £400k he will get

(parents passed away)

[Mikhail Liebenstein]

 

Sometimes people do not want to sell I have a friend who was given an inheritance of a part share in a house he does not want to sell as that is his childhood home, and he can do nothing in London with the £400k he will get

(parents passed away)

Yes, this can happen for legal reasons as well. For instance to meet the requirements of probate it could be that a  property needs to be sold and the proceeds shared. But if there is a person resident in the property they can have an legally recognised interest in the property that precedes the requirements of probate. In particular this can apply to trusts giving a party a beneficial interest without legal ownership. In a similar way, mortgage lenders are always at pains to make sure they have the first interest in the property.

In practice, this might mean that a sibling continues living in the parents property, rent free, whilst holding out against a sale as their share might be 1/2 or 1/3 etc. They might say, “but if we can sell it for £1.8m, I’d be happy with a £600k 1/3 share”, but if the property is worth £900k, then it could be on the market a long time.

[“Nasty Piece of work”]

 

costs nothing to put on the market.

This sort of timescale you are lucky not to croak,  opportunity costs as well magnified - but suits retard mentality “property only goes up, they are not making land anymore”.

[msi]

Did they do the whole twigs, fresh bread, Marie Kondo, fresh paint thing?

Why not raffle it?  Just 650 tickets at £50 quid needed

...and of course....just rent it out, innit

 

[richmondtw]

 

and of course....just rent it out, innit

Why not

[captainb]

Could this not be the houses the agent or seller direct forgot to remove from rightmove? 

 

I mean as another reason why it could be sat on rightmove for a decade ...

[Fishfinger]

 

What would be interesting is to drill down and examine the owner - and see what is driving these fruit-loops (Greed?).  But that would involve actual journalism, and I don’t think the DM can tackle that task.

😁

[spacedin]

The misleading sensationalist articles that have had erroneous information on them for years and they still haven't been corrected. That pretty much sums up the Daily Mail.

Edited December 29, 2020 by spacedin

[MonsieurCopperCrutch]

My neighbour just around the corner repeatedly puts her house up for sale at £1.5 million. The house has been partitioned into flats while she lives on the ground floor. She has no intention of selling as she told me it's to fudge the banks when her rents temporarily dry up.