Offers over.......Good idea or not?

sellingsoon

Hi, first time poster so please be patient with me and sorry for long post.

We're thinking of putting house back on market - was on in Aug 09 for 15mths, sold twice, fell thru due to no fault of ours. Took it off market Dec 10 for a break. The situation is on the estate we live in is all similar houses on market with ours in Aug 09 are still for sale, with 1 just gone under offer. We are motivated sellers who want to go into rented for job reasons as we may have to relocate, so no chain from us.

My question is do we price our house the same as before which Estate agent suggested, which is similar to others on estate. I said but houses aren't selling at these prices and he said well you could reduce it after a few weeks, but I think reducing can make you look desperate, which we're not. Or do we price lower than others on estate (by about £10-£15k) but put Offers Over... so that people know that's the lowest we'll take?

Hubby thinks we should put it on at £290 which gives us room to drop as psychologically he thinks people want to think they've got money off. However, I think if we market it at offers over £275 - the lowest we'd be prepared to sell for at the moment we'd stand out from the other house and be very competitively priced.

What do you think?

MegaMiniMouse

I think your question is not so much 'how much can I sell for?' as 'can I sell at any price?'

You do not say whether you owe a mortgage, but you intend to move into a rented place

If you are going to have to default on your mortgage, then get your rental sorted out first, otherwise you will have no chance to find a nice place to live

MMM

neas

i find estate agents always overprice things.

They valued my current property at 195k.... we bought it 3 months after this valuation for 163.5k.

They dropped it down 15-20k over that time.

Put it on at 280k with a view to accept at least 10k off that price.

You want to catch the wurm And need to set yourself apart from neighbours. Just think the house u are also buying afterwards will also be reduced by a similar amount so you dont really 'lose' out,

Yorkie1

I'm not a buyer at present but in my perception I think 'Offers Over' always makes the seller look greedy and over-ambitious, and not liable to negotiation.

Orkatec

You will never sell your house if you cant get buyers in the door.
Once in the door your house must be presented at its best.
We live in a 5 year old estate. at least 4 similar houses for sale ranging from 145k to 155k some for 10 months.
We put ours on at Offers over 139k before xmas. needless to say nothing until Feb .We had 5 viewings 3 repeat an offer of 141k which we refused and put it to a closing date and sealed bids end of Feb top bid was just over 148k which we accepted, we were looking for over 145k.
You can always say no to any offer.
I should add I am in Scotland and the mortgage valuation which is part of the home report was 150k


James

sellingsoon

Yorkie1 wrote: »

I'm not a buyer at present but in my perception I think 'Offers Over' always makes the seller look greedy and over-ambitious, and not liable to negotiation.

Yes, hadn't thought of that - worth considering. Thanx.

The_Drama_Llama

270 is very close to the Stamp Duty band - if you put it up at this level you're likely to get lots of offers at 250.

If you want 270, you probably need to put it up at 290 to stop that happening. But then that price is likely to deter some potential buyers.

daisymay2008

i'll be honest i don't really see the point, if i liked it though i'd only offer a £1 over:p

flora48

Putting 'offers over' on my house last year was a big mistake. Obviously I was open to offers but no-one offered over and I sold for £10k less. Don't do it!!

mrstinchcombe

When I was looking at houses I would instantly ignore any house with "offers over" on it.

GavB79

I should think in England most buyers viewing an 'offers over' property will still expect to get it below this figure. People just assume you've factored in negotiating room.