Priced to sell

PasturesNew

Offers over gets dismissed by me. I once wanted to buy a flat, it was OIEO and I put an offer in, it was refused; I asked "look - how much do they want?" and I didn't get an answer... so I didn't buy it. I can't buy something that doesn't have a price. What I ended up buying was 50% more than that flat, so I wasn't short of a bob or two, but I did need to know the price. I wasn't going to fanny about guessing it with offers.

brit1234

The higher asking price would put me off looking let alone putting an offer in.

House prices are falling so you are endanger of chasing the market down if you price to high. However if you are in no rush to sell and not interested in getting the best price before prices drop even more carry on.

Blacksheep1979

Have you thought that the EA has maybe already priced in bargaining room at 175k?

pompeyfaith

First question to ask an estate agent is do they put profits before the customers expectations.

If they do go else where.

FATBALLZ

brit1234 wrote: »

The higher asking price would put me off looking let alone putting an offer in.

House prices are falling so you are endanger of chasing the market down if you price to high. However if you are in no rush to sell and not interested in getting the best price before prices drop even more carry on.

Hard to comment on this specific case without seeing it on rightmove, but there's certainly several in my area I wouldn't waste my time looking at, as the high price basically makes the seller look like a clown out of touch with reality, therefore it isn't even worth putting in the offer in as to be realistic you'd need anything up to 50% off and it's clear the seller isn't serious.

stokesley

pompeyfaith wrote: »

First question to ask an estate agent is do they put profits before the customers expectations.

Do you think they're likely to say "yes"?:rotfl:

GavB79

How does it work when houses are priced at, say, 140-160? Why would anyone pay 160 if it is implied the vendor will accept 140??

pinkteapot

We paid £231k for a house on the market at £232,995. Whether someone will pay asking price (or very close, as we did), depends ENTIRELY on how the house is priced. Ours was cheap; we'd have paid up to £245k for it based on similar sales nearby at the time. And we bought in this market; it was last August.

brit1234

I think I am going to ask for far bigger reductions when I come to buy if sellers are deliberately overvaluing there properties. Its stuff like this why increasing numbers of first time buyers are going on a buying strike.

These overvalued properties will just linger longer on the EA books for months or years. Whilst realistic sellers will have most choice of the limited sellers. After all prices are falling and its clearly a buyers market.

Milliewilly

It isn't a buyers market because there is hardly anything to buy. Its a stagnant market. People aren't putting their house on at less than they think they should get so nothing is moving.