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House not sold yet- advised to reduce. Have I done the right thing?

1235

Comments

  • schooleydoo
    schooleydoo Posts: 26 Forumite
    edited 18 March 2017 at 2:42PM
    Everyone seems agreed that it's too expensive, based on the sale of my friends house and that I paid £230k 5 years ago.

    Nobody has mentioned this sale though, identical house on the same estate?

    here

    Also, I understand why all three estate agents may have inflated the price (although if my agent does this a lot, their 85% initial asking price hit rate would be impacted), but what would an independent solicitor gain from pushing the price up?
  • Mrs36
    Mrs36 Posts: 193 Forumite
    edited 18 March 2017 at 2:59PM
    You're going round in circles now - you can show us links of similar houses and tell us we are all wrong all day long, but it boils down to the fact that someone obviously wanted that house enough to pay that much. Can you honestly say the same with 5 viewings?

    Good luck with the sale O/P. Make sure you pop back and let us know what it sells for in the end, won't you :)
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    schooleydoo wrote: »
    Everyone seems agreed that it's too expensive, based on the sale of my friends house and that I paid £230k 5 years ago.

    Nobody has mentioned this sale though, identical house on the same estate?

    here

    Also, I understand why all three estate agents may have inflated the price (although if my agent does this a lot, their 85% initial asking price hit rate would be impacted), but what would an independent solicitor gain from pushing the price up?


    Sorry to be brutal, but that house is about a million times better presented than yours, and to a lot of buyers that's important, they want to be able to move in and not even need to paint a wall. There are buyers who use their heart rather than their head and will buy a house based on 'falling in love' with the presention, the decor and the vendor's possessions!
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    schooleydoo wrote: »
    Everyone seems agreed that it's too expensive, based on the sale of my friends house and that I paid £230k 5 years ago.

    Nobody has mentioned this sale though, identical house on the same estate?

    here

    Also, I understand why all three estate agents may have inflated the price (although if my agent does this a lot, their 85% initial asking price hit rate would be impacted), but what would an independent solicitor gain from pushing the price up?

    The house in the link has got private off street parking Yours doesn't even have off street parking. The parking spaces mean that the back of the cars are parked on the pavement.

    To someone who doesn't want their car parked half on the pavement but on private parking with access across it the house is worth more.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    You have to consider the offers you get (if you get any) if you really want to sell, that is how a "market" works?
  • ReadingTim
    ReadingTim Posts: 3,970 Forumite
    Name Dropper First Anniversary First Post
    schooleydoo wrote: »
    Everyone seems agreed that it's too expensive, based on the sale of my friends house and that I paid £230k 5 years ago.

    Nobody has mentioned this sale though, identical house on the same estate?

    here

    Well, regardless of what "the market" says, it only takes one buyer willing to pay the price, and a sale is made.....

    Unfortunately, the "one buyer" willing to shell out three hundred grand bought that place instead of yours....
  • nubbins
    nubbins Posts: 725 Forumite
    Crashy_Time wrote: »
    You have to consider the offers you get (if you get any) if you really want to sell, that is how a "market" works?

    How would you know?
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    ReadingTim wrote: »
    Well, regardless of what "the market" says, it only takes one buyer willing to pay the price, and a sale is made.....

    Unfortunately, the "one buyer" willing to shell out three hundred grand bought that place instead of yours....




    Hate when that happens........:(
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    Anyway, one month on the market is probably nothing to worry about?
  • teddysmum
    teddysmum Posts: 9,471 Forumite
    First Anniversary Combo Breaker First Post
    Something that I don't think anyone has mentioned is the potential cost of maintaining the cladding . As it goes up two storeys it would need specialist scaffolding for access.
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