Moving Home - Zoopla Hurts!

HJS86

Hi all
Update. An estate agent called me last week and offered to come out and value our property even though I told them we weren't putting it up.

This EA valued the property at 60k in March 2011. Today it was valued at 70k.

Any thoughts? Doubt the market has improved that much if at all in the last 6 months.

The agent also said that it was worth putting it back on the market around xmas as some ppl buy during that time because its quieter.

Any thoughts welcome! Thanks

MrRee_2

Agent is simply looking for stock in a quiet time.

Maybe they have another similar property they are trying to shift .... by adding yours the other one looks cheap and helps them sell it ..... I've seen it all before!

SuzieSue

MrRee wrote: »

Maybe they have another similar property they are trying to shift .... by adding yours the other one looks cheap and helps them sell it ..... I've seen it all before!

I had never thought of that, but it makes a lot of sense.

MrRee_2

It's a common trick .... Estate Agents know a LOT of people who will sell their granny for a coin of the realm!!

Take the scenario - EA chatting in the pub with his like minded friends, he has a house he cannot sell but has someone waiting in the wings who he would like to give a big push - amazingly, a friend knows who owns a house identical just along the road. For a small 'consideration' this person will put their house up for sale at a high price (but be unavailable for viewings). This could just push the dithering buyer into making an offer.

Take another case - Agent is asked to value a property close to the one he is struggling to sell ..... he overvalues it (music to the owners ears) and tells them that it is far better than the one down the raod so they can get more for it - again it may push the dithering buyer into making an offer.

This is much more an issue where the agent needs just 'one' piece, one property sale, to wrap up a multi-house chain and a multi commission payment!

Think of the most outrageous games and tricks and you will find an Estate Agent right in the middle of it!

HJS86

The EA also said that if the property is on the market for 3-4 weeks, buyers tend to offer 3% lower than the asking price, however if its been on for 3-4 months, they tend to offer 10% less.

Has anyone else experienced this?
Is it worth putting ours back on the net? for £75k? (it wouldnt cost us anything, we paid for 365 days on RMove, and have 200 left).

Thanks for your on going help and comments

MrRee_2

Sensible buyers offer 15% OFF from day one .... everyone knows that 10% is factored in anyway.

If it has sat unsold for many months then 25% OFF would be on the cards.

Properties are selling - if priced correctly.

HJS86

So a number of properties in the area which are also one bed are listed as SSTC on rightmove for between 65-85k. Obviously I dont know exactly how much they went for until its listed on the land reg, but if the one listed for 85k has sold, its looking promising.

Worth putting ours back up? I've just done the sums and with the amount we have paid off since March we could now break even at £74000 seen as Nationwide declined our first neg equity application. Were applying again in March as they suggested.

GDB2222

There's no point having it on the market unless you are actually in a position to sell. You are not, so don't.

HJS86

GDB2222 wrote: »

There's no point having it on the market unless you are actually in a position to sell. You are not, so don't.

Hi GDB2222

We could sell for £74000. We would clear our current mortgage, have a £6500 deposit and all fees for the solicitors etc.

We're just not in a position to sell for any less than that! :beer:

HJS86

We could only sell for less if Nationwide would let us take some neg equity over with us. They've told us to try again in March 2011 if we needed to do this. But if we could sell at £74,000 we wouldnt have to. Which would be nice...

http://www.rightmove.co.uk/property-for-sale/property-18233661.html?premiumA=true

This one has just sold. I wish I could just call the EA and ask how much it actually went for!!