Apologies for anyone sick of hearing about it, but I've got yet another house selling question:
We’ve had our house up for sale for 12 weeks with above average interest to date. We have several people who said they’d like to buy it but need to sell theirs first (2 are extremely keen). We’ve already made a (small) price reduction on our house and after doing a lot of research, we think it’s well-priced (viewers have also told us that they think it’s good value). We’ve prepared ourselves to accept a lower offer in this market. We’ve given ourselves to Xmas time to sell, and if it doesn’t, we’ll rent it out – but we’d be happier selling now and going sooner rather than later.
Does anyone have any experience of whether dropping the price actually attracts more buyers – the ones who can actually buy it, not those who would like to? It feels like the market is just grid-locked and so I’m wondering if a lower asking price is going to do much. I’m sure that if/when we do get an offer, there will be a price haggle, so I need to leave a bit of room there.
My EA has constantly stated that the price of my property is not the issue regarding viewing/offers. It's just that there aren't many people looking to buy.
Unless you're desperate to sell dropping you price significantly is not a good idea. If your current possible buyers can't sell their properties to buy yours it won't help anyway.
Your property by the sound of it is correctly priced so I'd hang in there.
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Happiness is a path not a destination - Silk Road fortune cookie
hi there,we have dropped our £25k,in total have not had one viewer since,that was 3wks ago.getting worried as like most need to sell before we go...it really had been unlucky timing...
we get down about it then pick ourselves back up again(i get knocked down then i get up again)wheres the lager!!!!!! All the best to you all.. shellx
Hi
We haven't droppped our price since putting it on, but did make the mistake of putting it on at the absolute lowest we could possibly accept. I realise now that this was a big mistake as the market is now full of jokers who realise it's their market and are placing piss-take offers.
I was so desperate to sell I looked at all the other houses similar to mine in our area and undercut them for a quick sale! Big mistake, not had a single offer anyway and can't afford to take a bean less than the asking price!
What sort of price bracket is your property in? If it's way above the reach of any first time buyer then dropping the price won't make any difference unless all interested parties drop the price of theirs accordingly, e.g. if you drop yours by 10k and then the person who wants yours drops theirs by 10k and so forth until the bottom property in the (theoretical) chain is at a sufficiently low level to attract a first time buyer. It can be done, but it is difficult and so you need all estate agents involved to be experienced and committed to making it work. Sorry this sounds a bit waffly lol
My sister had to drop her house from £250 to £220 to get a sale 3 months ago... looking at the same houses in her street now they have dropped to £210, so she is glad she took the offer.
Earls........are you following me.......???.......
just so you know.......going for my little run in the morning.......so you get really jealous it will be about 7 or 8 miles.......PERFECT.....!!!......bet you can't do that i Perth....!!!!....ha ha.....
xxx
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Leighton(34) Luan(32) Annie(6) Mary(4)
Online 175 January 08.......we have a case officer..........!!
Dream as if you have forever. Live as if you only have today.
The house price dropping lark works like this......... if your selling a house and staying in the uk and your asked to drop then its because everyone is dropping! So, you the house seller drops 6% for example, because your buyer had to drop to sell and the buyer from them droped to sell, FINE as they have all droped and now they can all live happly while they wait for the housing market to pick up and they all get their 6% back BUT for us moving to OZ, we lose loads of money and to make matters worst the exchange rate is naff. So we can not even cash in then, which would have been less of a blow. I could be talking tosh but it makes sence to me, or i may be a "bitter seller". I have now droped 25K, will find out tomorrow if the so called interested viewer is really interested, if not i will take it off the market and put it up to rent........sick of playing games. I need a glass of white to calm my nerves, oh a some chocolate :) XX
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Signed Agreement 23.3.07, ILETS Oct 07, Applied for visa 176 16.12.07, House on Market 1.2.08 Meds & PC 19.2.08, CO 1.7.08 Visa Granted 18.7.08, Perth in Sept 08
