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Reducing house price
jon001red
Posts: 4 Newbie
Hi,
We are thinking of reducing the price of our house due to lack of interest. Would you recommend doing a straight forward price reduction or adding a money incentive (eg. 5% of deposit paid on completion). Are there any cons to offering such a deal ?
Many thanks in advance
We are thinking of reducing the price of our house due to lack of interest. Would you recommend doing a straight forward price reduction or adding a money incentive (eg. 5% of deposit paid on completion). Are there any cons to offering such a deal ?
Many thanks in advance
0
Comments
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Reduce price. Everything else is seen by sane people as a scam.0
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Only a few Lenders will accept gifted deposits, so you may limit potential buyers by using that incentive.
If the money is coming out of your pocket one way or another, keep it simple/obvious would be my advice.
Some people might not immediately appreciate that 5% equals a given £ value. Whereas a highlighted price reduction of £5k (or whatever) is clear and more attractive.0 -
As a FTB only price reductions interest me. Just drop the price before your competetors do and people realise prices are falling again.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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