selling my old house

scaniarob

Hello,

I put one of my houses up for sale on the 10th august for £124,950 its had about 3-4 viewings and today the ea rang and said a lady had just ben round and would like to offer 120k including some of the furniture.
I feel its worth nearer the asking price and the ea said i should snap her hand off, the house is 10 years old , fully refurbished , new windows, kitchen, painted inside and out etc , kind of looks like a show house , the lady told the ea that it was perfect and that she could move in straight away , no chain etc , i told the ea i would take 123k and the lady said 120k was the max .
what would you do ? , take her money or wait!
by the way the house is vacant and i am under no pressure to sell at the moment.
thanks everyone:beer:

tek-monkey

Got a link? How does it compare to similar, is the market dry or flooded in your area with similar properties? Is it costing you to leave it empty?

4% aint too bad a hit, but depends what else is about.

scaniarob

The market is quite brisk on that estate , sold signs are going up by the day and the ea is saying he could with getting hold of more propertys on the estate although he says all the houses he is selling , none have met asking price they are all slightly under , the ea told me to put it on at 114k at first , i told him to shake his tail.
Its a perfect house 2 bed barrat with huge conservatory in lowton gtr manchester end of seculed cul de sac ,, nice and quite .

tek-monkey

EA says 114, you got offered 120 and refused? Don't know the area, but I thought EAs tried to squeeze every penny?

dopester

Is it this house?

How many houses do you have?

Seems like you really want this extra £3K. House empty and under no pressure to sell... so don't sell if you're not happy with the offer. Entirely up to you.

david29dpo

I agree, its your call. Commission hungry perhaps?

getmore4less

£120k at 5% is £500 pm so thats roughly the opportunity cost of having £120k tied up in the house

So around 6 month to see if you get a better offer or watch prices drop.

The other option is to get it earning what would the gross yield be if rented?

Personaly I think there is still time to be unwinding property that is not making money.
Prices do however have to drop a fare bit to pay for the churn costs if you want to get back in.

zappahey

tek-monkey wrote: »

... but I thought EAs tried to squeeze every penny?

Only if it doesn't put the sale at risk. From the EA's point of view getting the sale is far more important than maximising the price.

scaniarob

Thanks for all that , i thought i was maybe being a little greedy not taking the ea advise but as you say its my house and i can wait if i want , if it had been on for a long time that would be different but it has not and i think it is ideal for someone who just wants to move in!
You never know the lady who offered may meet me halfway or not at all either way the extra 3k would pay for the ea and legal fees , moneys too hard earned these days .

poppysarah

When you get told what the EA is putting it up for, did you think it's like a shop? Did they not suggest at the time that you'd get "near" that?

Fire_Fox

scaniarob wrote: »

Thanks for all that , i thought i was maybe being a little greedy not taking the ea advise but as you say its my house and i can wait if i want , if it had been on for a long time that would be different but it has not and i think it is ideal for someone who just wants to move in!
You never know the lady who offered may meet me halfway or not at all either way the extra 3k would pay for the ea and legal fees , moneys too hard earned these days .

How much is the house going to cost you over the next six months? That means interest you would be earning in the bank, heating to stop the pipes freezing in winter, council tax once the free period is over, etc.