Do things like 'quick sale' and 'open to offers' help on a right move listing?

kr15snw

We know the market is slow at the moment but the house we are (hopefully) buying is being offered to us in a private sale and the vendors need us to have accepted an offer on our place within the next 2 weeks or they are going to move on (they are selling for their mum who has gone into a care home and they need the cash to pay the fee's!) and sell it to someone else.

The reason we're so keen on the house is they are offering it to us for 20k below market value because they know us and apparently 'want the home to go to a young family, not some developer' (Its a developers dream and will make a tidy profit, but we want to live in it as we LOVE the area!)

We've spoken to our mortgage advisor and can afford to accept 100k at the lowest. It's been on the market for a few weeks at 119 and not had much interest. We have today dropped it to 114 so it's now a good deal in the area.

We've told the agent to just sell it, we honestly don't care now if it goes for 105k etc! We just need to sell it or we WILL lose the other one!

But the agent has told us that putting 'open to offers' or 'quick sale needed' on the right move listing won't help very much? Really?

If it was me and it said 'quick sale needed' I would be happy putting in a cheeky offer!

What do you think?

new_home_owner_3

get him to advertise it as offers in excess of 100,000 and see what comes back from that, if you put quick sale or open to offers your starting to look desperate.

If you dont get any offers from the offers in excess of , i supsect your house is a ftb property and theres not many buyers of them about at the moment due to the banks tight lending, but i think its worth a go.

remember the estate agent does what you instruct him and if someone makes a offer that your not happy with just say no.

GAH

Putting any suffixes, like 'open to offers', OIRO, OIEO make no difference to people that are looking.

If the property is within a persons price range and they like the look, they will view it and make their own conclusions of what they would like to offer.

I think the only suffix that people do take notice of, which can make the difference for people, is when they read 'No Chain'.

JQ.

I'd agree with the agent. The only thing that would make me interested is the price.

Open to offers - of course you are, nobody is going to offer you the full asking price unless it's rediculously cheap.

Quick Sale needed - you're desperate and so any offer I may will be way way below your asking price

Why not just drop the price to £105,000?

madmish00

I would definitely drop below £110k. The rightmove website has a maximum amount otion which goes up in 10k increments. Your change of price from £119k to £114k doesn't open up any new buyers to you. If you drop to £110k then all the people who are searching £110k as their maximum will then see it. Obviously they probably still won't want to pay full price for it but you are more likely to get £105k for it this way than limiting your market to those searching for up to £120k

new_home_owner_3

you could price it at the minimum your willing to take , but i think if you go for offers in excess and someone offers 100,000, im sure if they like it they will get the extra 5000 from somewhere.

I dont think you have anything to lose, but your going to have to market it at a lower price to sell quick.