Ideas For A Quick Sale Please??

Which EA has the most signs up in your area. Usually one has the upper hand. Go in and ask for details of a house they have up for sale and see how they behave. The original one will work harder if told of the competition. And you can usually force them to lower their commission.

Currently there are very few buyer out there.. and in this market it's very easy to chase the market down and never reach a sale..

If you really want to sell I would drop the price by at least 10%, (I've heard other stories similar where a 15% cut needed - but it worked) under cut everyone else and get those sellers into your home - if you don't then prices will keep falling as the market cools and you could/will find that in 12 months you *will* have had to make several smaller cuts totalling the 10% price drop :eek:
The sooner you can get a sale, the sooner mortgages/bills/debts and any interest etc is paid off, I'm not sure of how much debt you currently have, but there is a cost benefit of not having to pay interest over those 12months.

Chasing a falling market is a very common and easy mistake to make - be bold. :T

I agree with kinesin. Your neighbours have the luxury of putting their houses on the market and sitting back to see if they sell. They are not forced sellers. You, on the other hand, are a forced seller. (At least that's what you said in your post.) You need to be right at the bottom of the prices locally to attract interest. That may mean £200k to £210k as an asking price!

The alternative is to have some contingency plan for what you are going to do if the house does not sell.

The other thing to bear in mind is that you may as well factor into your asking price whatever discount you would normally give a purchaser. For example, You ask £242k, but may expect to get 10% less, ie £218k. In that case, you may be better to ask £218k in the first place, with a view to giving nothing or very little off that price. At least that way you might get some buyers looking at your house. 2 viewings is nothing. The EA must always have a couple of purchasers to send round to keep vendors happy.

Simple but not the answer you'll want to hear.

Take a good chunk off the asking price now, rather than following the market down and always being one step behind.

Because you'll probably end up selling for even less in 18 months time in pure desperation.

Also what about the interest on the bridging loan in the meantime, to buy your next place ?

I have a friend who put his house on the market over 18 months ago at £595k as recommended by the EA. Accepted an offer last month for £470k !! and even that fell through.

Doozergirl wrote:

From experience, we bought 2 houses next door but one to each other. One sat on market for weeks at £180k, other was new on at offers over £130k - the agent was swamped with viewers. We got both houses for around the right price and in fact ended up paying £5,500 more for one marketed cheaper!

Thank you, thank you, thank you Doozergirl! I have often thought this was the case, but I have never seen an experiment carried out like that. A properly marketed house will achieve its correct price even if the asking price is set way too low. People will simply come in and bid over the asking price. Well done!