Opinions on offer made on my house?

missno

Im just after some honest opinions/advice. My house has been up for sale since just before Xmas, had a few viewings and one daft offer.

Anyway we werent happy with estate agents so took it off with them in February and have just put it back on with another agent on Friday. We had a viewing Friday night, a woman who had viewed it before through the previous agent. The asking price is £205,000 (we hoped to get £200,000)

She put an offer in of £187,500 and we rejected it then she increased it to £192,000. We asked if she would go to £195,000 & we'd consider (the extra £3k would have paid for our estate agents fees) She has refused to increase her offer.

What do you think. Technically what with Xmas and us taking the house off the market, its only been on the market for about 6 weeks or so but Im worried we may not get another/better offer any time soon & we do desperately need to sell.

I should mention that two houses the same as ours have sold within the past 8 months in our road/next street for £200k and £208k respectively.

Thanks

Catblue

Could you ask for £193, 500 which is splitting the difference between what she is prepared to offer and what you'd be prepared to accept?

Cannon_Fodder

£205k starting point would be lucky to get above £190k, as the average sold price was 7% under asking prices in Jan/Feb.

Take the £2k extra before she walks away.

phlash

I think that is a great offer.

I wouldn;t go higher than 85% and you've got an offer at the 94% level.

Sammy85_2

Jump on her and pin her down!!

missno

I guess thats the general consensus...thanks one & all!

MMG

I wouldn't be so quick to jump at the offer, contrary to other posters beliefs.

It really does depend what the house is actually worth in terms of the location, and what else there is on the market nearby.

It's all very well some people saying "I'd only offer 85%" of the price, but the fact is this differs all over the country, with some locations houses going for the full asking price.

I think the more important questions are, can you afford/need to accept this offer, and how desperate are you to move on?

sunshinetours

Check that you aren't liable for two commissions if she viewed originally through previous agent as well

brit1234

MMG wrote: »

I wouldn't be so quick to jump at the offer, contrary to other posters beliefs.

It really does depend what the house is actually worth in terms of the location, and what else there is on the market nearby.

It's all very well some people saying "I'd only offer 85%" of the price, but the fact is this differs all over the country, with some locations houses going for the full asking price.

I think the more important questions are, can you afford/need to accept this offer, and how desperate are you to move on?

Following this advice could mean you chasing the market down and getting less for your property. Remember house prices are artiffically high due to the cheap credit and fraud of the last decade. They crashed and were only propped up by stimulas from crashing further. That stimulas is ending or over and suprise suprise house prices are falling again.

You are going to have to sell quick before people realise prices are falling again. As each passing negative price month will encourage them to ask for a bigger reduction.

surreybased

Hi,

Tough one - does depend on how keen you are too sell. I think it's a reasonable offer. Try for £193.5k, might be a good compromise.Do you know if the other properties achieved £200k plus (land registry data) and if so were they in the same condition/size etc.as yours.

I sold my place very quickly last year - could have got slightly more for if I had waited but it was a fair price and enabled me to move on.
Time on the market only works if it's a rising market - i.e each month your house price looks cheaper however that works against you when in a falling market. House prices were rising in SOME areas but last month dropped.......next month is anyone's guess.

Have you seen a house that you want to buy? If so you might be able to get that at the same relative number. Good Luck

Milliewilly

I wouldn't quibble over £3K personally - I don't know your circumstances but if its on themarket another 6 months that could be another 6 months mortgage payments.

In my experience since starting to offer on houses in south west sheffield since September last year - anything less than asking gets you nowhere and thats for cash.