Sellers don't want to listen to experienced agents when they valuate their properties.
Buyers are not stupid, they know when a house is overpriced.
Hehe. Indeed.
When we started searching there were some real shockers.
And some people believe as long as it is in the right area they can charge the going rate even if the house itself is falling apart.
For instance. We went to view a 3 bed, 2 bath house with a flatlet on the property. Was listed for R1.3m. Lot lower than the area rate for the same type of property so we went to view it with the mindset that the place will need quite a bit of work.
Should have gotten back in the car and drove away when the agent arrived, saw we were kinda decent people and asked if we are sure we want to view the property.
The house was literally just a shell. Only the outside was brick and mortar. Inside was just dry walling. No ceilings, nothing. It looked like an office with cubicles.
Apart from the sink, the kitchen was loose standing cabinets. A two plate gas stove and one of those convection ovens.
Only the front and back door had handles. Some rooms didn't even have doors.
We didn't even get as far as the bathrooms before we left.
On our way out we just queried the flatlet on the listing. Turns out it was one side of the double garage turned into a living space. So it was a single garage sized room. And the wall to the outside toilet was broken out for access to a toilet. No shower, bath or sink.
That was our biggest WTF viewing although there were similar types but not as bad as this one.
Seller kept insisting the price is right because it is in a great suburb, close to schools, blah blah blah...
Wife saw a few months ago that it sold for R700k eventually. We drove past just for interest sake and saw the whole house was bulldozed and pretty much an empty lot now. Guessing the buyer would like to build something proper there.
www.leadhome.co.za
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