To those selling in these difficult times

aurora_borealis_2

Mine's on Rightmove as of today.

Hypothetically, one we've seen has been on the market since April. Was £425K then reduced to 399K recently.

What would you offer in this falling market?

bootalishus

hi joshiesaunt - he told EA he wasn't doing counter offers - that was it. We will still have a good str pot and have made a bit of money (no where near as mush as hoped). At moment OH is as busy as ever and will probably be ok as has a large retired client base but you never know and we don't like living with the uncertainty and not wanting to have the odd treat and holiday etc (we by no means have a lavish lifestyle but oh works very hard and needs something to look forward to now and again). Just hate the fact this creep has had one over on us, probably taking bets at work as to how much he can stitch us up by. Me & Oh have worked so hard on this house over the last 18mths and I really didn't want to leave it with a very bitter taste in my mouth - but are lovely buyer has managed to do that. If we do still sell (not sure yet what we will decide) do i have to let buyer back into the house again before we complete (if he wants to measure up for all the new stuff he is buying). Under normal circumstances i would have left the house spotless and filled in and painted holes where had pictures etc on walls - is their a legal obligation to do this?

bobbykorey

aurora_borealis wrote: »

Mine's on Rightmove as of today.

Hypothetically, one we've seen has been on the market since April. Was £425K then reduced to 399K recently.

Hi,

Same here, Curious to see what other's have to offer....

Jorgan_2

bootalishus wrote: »

hi joshiesaunt - he told EA he wasn't doing counter offers - that was it. We will still have a good str pot and have made a bit of money (no where near as mush as hoped). At moment OH is as busy as ever and will probably be ok as has a large retired client base but you never know and we don't like living with the uncertainty and not wanting to have the odd treat and holiday etc (we by no means have a lavish lifestyle but oh works very hard and needs something to look forward to now and again). Just hate the fact this creep has had one over on us, probably taking bets at work as to how much he can stitch us up by. Me & Oh have worked so hard on this house over the last 18mths and I really didn't want to leave it with a very bitter taste in my mouth - but are lovely buyer has managed to do that. If we do still sell (not sure yet what we will decide) do i have to let buyer back into the house again before we complete (if he wants to measure up for all the new stuff he is buying). Under normal circumstances i would have left the house spotless and filled in and painted holes where had pictures etc on walls - is their a legal obligation to do this?

If you have exchanged contracts, you can easily deny him access to measure up. If you haven't exchanged contracts then denying him access may agitate him and he may start playing games, like trying another price reduction. You are supposed to make good a property if taking things of walls etc, but it doesn't really happen. Obviously if you remove something and all the plaster falls of the wall you would be expected to make good, but a few holes shouldn't be a problem.

Jorgan_2

aurora_borealis wrote: »

Hypothetically, one we've seen has been on the market since April. Was £425K then reduced to 399K recently.

What would you offer in this falling market?

What to offer in a falling market? It depends on a number of things really. What have other properties sold for in the last two months? Was the asking price in April a sensible one, compared with other completions?

My own property has recently gone on the market, if I get the figure I expect to achieve (less than what my agent told me by the way) the house I have my eye on will get a bid approx 15% below their current asking price. I am prepared to increase slightly from that, but not much.

aurora_borealis_2

Tricky to judge. It's an unusual property for the area.

... I was thinking around 15% too. Maybe offer 360K.

pawpurrs

Oh Boots sorry to hear that, what an Idiot :mad: These people make me :mad:
75k sounds like a lot, how much is it U/O at?

Went to see the house, and of course, I loved it! Its not in the village I really want, so dont know if I should go for it even if we get a buyer. But it could be lovely, it has an amazing part to the old kitchen with the old cooper pot, bread oven and original Belfast sink. A lovely aga! And could be very elegant, although at the moment its very unloved, and needs a lot of updating, it comes with a tearoom too!

baby_fuzz

I'm now on 'the other side' after selling my house earlier this year. What I see is a lot of people still willing to buy, but no-one willing to reduce their asking prices. Properties which are sensibly priced still sell. I, like many am in a position where I can wait for this stalemate to end and more houses come down to realistic prices (or else the rental market will become even more flooded).

Just a question to vendors: are your asking prices realistic considering the great difficulty in getting mortgages and the high rates on all of them?

pawpurrs

My house is on for 50k less than other period cottages, that are unrenovated and mines completly done,with expensive fittings, so i would say its priced well in its market, but I consider the others to be overpriced all at peak prices. Hence 17/18 viewings in the last few weeks. But not prepared to drop it any more at present. Whereas they may be open to offers.
As for whether prices need to come down more, undoubtably, but at the moment it seems well priced, but keeping open minded to what that may need to be in the future.

Davesnave

baby_fuzz wrote: »

I'm now on 'the other side' after selling my house earlier this year. What I see is a lot of people still willing to buy, but no-one willing to reduce their asking prices.
Just a question to vendors: are your asking prices realistic considering the great difficulty in getting mortgages and the high rates on all of them

I would think most people savvy enough to be on here have woken up & smelled the coffee long ago. The twin evils of fear and greed still stalk the streets, however, so people want further reductions after they agree the initial one, and they also spin the process out in order to do just that.

I agree with you though that, having made one reduction, many 'sellers' seem to assume that's it. Typically, in the price range we're considering, they go from £450k to £425k or £425k to £399k, which I make a fall of between 6% and 11%......hardly earth-shattering, considering that many have been on the market for a year. We'll stay in rented until those £450k properties reach around £360k, which is when they'll match the reductions we've made. Simple, really.