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Is this possible?
loulou41
Posts: 2,871 Forumite
One house was for sale last friday at 299.950K and yesterday it has been increased 305K. Is that possible for a house to go up by that much, I thought with the increase of interest rate, it should go down and not up? Also this house was under offer previously at 299.950K and it seems that the buyer has pulled out. It does make me wonder whether EA can put the price up and down as they please.
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Of course they can, if they got FAP easily last time, perhaps they feel they will see if they can get the same or more this time round.
Its their house and they are free to reduce or increase as they ses fit.Pawpurrs x
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Obviously trying to make up some of the money lost through the aborted sale!Debt Free!!!0
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They might have increaed to price to entice people looking for a house in excess of 300k. I read a thread on here by someone a month or two ago where their aunt or someone increased their price as wasn't getting much interest and then it quickly sold! Strange but it done the trick for them.....Love MSE, Las Vegas and chocolate!0
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loulou41 wrote:Is that possible for a house to go up by that much,
lol It's a 1.6% increase. Not much in the grand scale of things.
If the house has been under offer, prices may have increased whilst it's been off the market. If it sold before for £299950, then it could well probably also go for the extra £5000."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
The simple answer is - it hasn't got up that much. The asking price has.
It is worth what someone will pay for it, not the asking price. 2 houses in my street were up for sale at 170 and 183k - both sold for 171 so both were ultimately worth the same.A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
Mortgage Balance = £0
"Do what others won't early in life so you can do what others can't later in life"0 -
There is no RRP "recommended retail price" for property. Facts can get confusing if you hear about the lastest figures from say the Halifax but it is worth what someone will pay for it. One of the very worst things people can do is to spend more on their property than it will ever be worth. As an example if you live in a house in a road where the average price is say £250K spending a great deal on the kitchen and bathroom which ends up costing you £40k will not make your house worth £290k. It might make it sell quicker and someone might pay an additional few grand but what you spend cannot always be recouped.0
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