OIEO £249,995- where to pitch it?

eccles18

We are viewing a just-on-to-the-market house on Saturday (the 1st available appointment as they are holding an open day type viewing arrangement) which is being advertised at a price of Offers In Excess of £249,995.
We are looking to keep any purchase we make under the 250k stamp threshold- as would, I imagine, most people be.
We are in a strong position as effective 1st time buyers (in rented accom with less than 2 months left on our lease).
Whilst this price looks to be pretty good value when compared to others out there, the Zoopla price indicator pitches it at a value closer to 220K.
My question really is this, if we like the house it seems that the fact it is being done on an open day type basis, will this force us into acting quickly- how would you recommend we pitch any offers- do we have to go in above the 249995 level or is this just "panic 'em into a rash decsion Estate Agent flanel??? "

CloudCuckooLand

Ignore Zoopla. Get some proper sales figures and make direct comparisons.

What region ? Is it realistic to expect a quick sale ? Many regions are suffering badly.

Open day might generate viewers, but whether they generate proceedable buyers in the current environment is conjecture.

No-one should offer above £250k, but only you can tell from the specifics if they are being clever in under-pricing to get a bidding war going, or ambitious - if you really think £220k is "reasonable", then its a definite ploy.

Post the RM link?

shortchanged_2

This is a desperate (or I suppose you could say clever) attempt by a seller to get the price they want, i.e £249999.

They know they are not going to get more than the £250K but they obviously want as close as they can to it.
Personally I wouldn't bother playing ball.

WellKnownSid

I wasn't going to reply until I remembered that every house we've bought was either from an open day, or had subsequently gone on to have an open day!

In all cases the vendors wanted more. In all cases we got the property for less.

In our experience an open day = a difficult to sell or unusual property. In all cases, they happened to be properties that we actually wanted to buy, and evidently despite the open day, no-one else did at the time. Just remember, the same may be true when YOU come to sell, so you have to weigh all of this up.

Oh, and Zoopla may be wildly inaccurate and/or just a guess... but it's a guide nonetheless... I would be tempted to start there.

diable

Walk around tutting and umming to put all the other sellers off, pretend you are in property or building trade........

Thrugelmir

shortchanged wrote: »

This is a desperate (or I suppose you could say clever) attempt by a seller to get the price they want, i.e £249999.

They know they are not going to get more than the £250K but they obviously want as close as they can to it.
Personally I wouldn't bother playing ball.

The property could be fairly priced at this level. Saves messing about with games by starting the price higher with everyone knowing that it will drop beneath £250k.

shortchanged_2

In essence this is nothing more than a fixed priced sale, trying to be disguised as something else.

getmore4less

Open day for a new property just saves the agent a bit of time getting all the current potential buyers in on one day. also less disruption for the seller.


Pricing well it will ether be in that no mans land where £250k is the limit and this is an attemt to get an early offer at that level or worth more and this the way to try and get people to pay over the £250k once there are a few £250ks on the table.

Where does it sit price wise with the local market?

eccles18

It looks to be fairly well placed price-wise in terms of the local market. It is in a popular village location but is an ex-council property. Looking at past Land Registry sales figures, no houses on the street have sold above 230K in the past 5 years or so...

dimbo61

I bought my property for £250K five years ago and guess what thats what its worth today !
So unless its got an extension or great bathroom/kitchen offer £230K