Reduce house price?

Milliewilly

Cannon_Fodder wrote: »

You implied you wanted £230k. After initially wanting £265k. If you would accept £215k why waste 5 months?

Would you sell for £215K ? If so, put it on at £220k.

A £30k drop will generate enough interest, imo, and people are more likely to come up by an extra £10k than £30k.

Might end up at £215k if only 1 serious offer, or two offers could bid up towards your £230k target.

Potentially a £50k drop will have people worrying what's wrong with it. Sometimes a good thing can look like too much of a good thing.

If you won't accept £215k, then imo, a £200k start point is just misleading people, expecting them to find £15k to £30k more than you said you wanted - after all "offers over £200k" could = £200,001. Would you accept that?

Generating interest is one thing, but I think you risk messing up your selling strategy.

I didn't 'want' £265K that is what the EA advised to put it on at - I never imagined or expected I would get £265K but 6 days later the house was SSTC at £249K but then it fell through (and lost two months of it not being marketed) and nothing since.

I can only echo my recent experiences as a cash bidder of houses being put on low for offers over and going for £20K - £30K in one case £72K over asking. The idea is to attract people in to bid. A drop from £265 to £220K could make people think there is something wrong too and finishing on £215K is still a 50K drop so I am stuck between the devil and the deep blue sea.

My EA hasn't rung me back anyway.