House not selling

Orpheo

Spring_Time wrote: »

LOL!!

We are keeping an eye on properties with a view to buying at our pace, when we are ready, very busy sorting savings right now :money: but we like to keep an eye on what's out there and I can tell you now any time I see an AD saying "Offers Over..." I do not even bother looking at other details of the house. Its off putting. I like to know what price the sellers are looking for, what I would be happy to offer etc..I do NOT want to get into what may end up a competition, Nah thats not for me! I know that can happen with usual priced properties but I at least know what the vendors are looking for. "Offers over" is to open ended. For all I know, I may have offered OVER what the vendor was willing to take and whilst as long as I was happy to pay that price that should be fine but I am human and would feel a bit cheesed off that I could of got it cheaper. I'm a buyer looking for the most for my money I have got no time to deal with a vendor who has not even set a price as such!

It also screams to me that the property is HARD to sell, it would cross my mind heavily that I would be stuck with it if I ever wanted to move again! Again, not for me


Just to add, I am new to all this property stuff so I may have my reasons wrong BUT thats what "offers over" means to me. A FTB.

Good points. Well made.

MarshallMellow

Spring_Time wrote: »

LOL!!

We are keeping an eye on properties with a view to buying at our pace, when we are ready, very busy sorting savings right now :money: but we like to keep an eye on what's out there and I can tell you now any time I see an AD saying "Offers Over..." I do not even bother looking at other details of the house. Its off putting. I like to know what price the sellers are looking for, what I would be happy to offer etc..I do NOT want to get into what may end up a competition, Nah thats not for me! I know that can happen with usual priced properties but I at least know what the vendors are looking for. "Offers over" is to open ended. For all I know, I may have offered OVER what the vendor was willing to take and whilst as long as I was happy to pay that price that should be fine but I am human and would feel a bit cheesed off that I could of got it cheaper. I'm a buyer looking for the most for my money I have got no time to deal with a vendor who has not even set a price as such!

It also screams to me that the property is HARD to sell, it would cross my mind heavily that I would be stuck with it if I ever wanted to move again! Again, not for me


Just to add, I am new to all this property stuff so I may have my reasons wrong BUT thats what "offers over" means to me. A FTB.

That is great to know actually. Looking through listings, it seems different EAs use different "price tags", ie over, around etc... We didn't stipulate which to use and it seems our EA only uses offers over, which we will change today. I honestly did not think people paid attention to that aspect.

Spring_Time

Orpheo wrote: »

Good points. Well made.

Thank you I was worried in case I was posting out of turn lol as like I said I am very new to starting the hunt for a house and besides we are still trying to get our deposit as high as we can but we do keep an eye on the market. Daily lol! I have a bit of an addiction now

MarshallMellow wrote: »

That is great to know actually. Looking through listings, it seems different EAs use different "price tags", ie over, around etc... We didn't stipulate which to use and it seems our EA only uses offers over, which we will change today. I honestly did not think people paid attention to that aspect.

I do wish you lots of luck and I am almost positive not every buyer would think like me, I just felt the "supposed EA" given the info that "Offers Over" works to you as "FACT" was wrong. Because even though not everyone thinks like me I am sure some other buyers do, so in honesty its not a "fact" and you may be turning away your buyer because of wording on an ad

Best of luck

Spring_Time

To the Op.

There is a great little tool that you could use to look at properties similar to yours around your area that gives the history of prices etc..

http://www.property-bee.com/

It just goes on to firefox as an add on. Very, very easy to use. Its FANTASTIC! lol Then when looking at Rightmove etc, you see the whole history of the property, what it was originally priced at, how much it's been dropped or raised. Its a very popular little tool and may give you more of an insight what's going on in your area maybe.

MarshallMellow

Does anyone have a view of cash back as an enticement to buyers? Also, can it be offered for property which isn't new? Does it give access to buyers with smaller deposits, who would have previously looked away?

GDB2222

I wouldn't bother with gimmicks, such as cash-back. It doesn't count towards the deposit.

It's interesting that the house next door has sold for £125k. Is the only difference the garage? Does yours have more space inside, more land, etc? Put it another way, why is yours worth 20% more?

The NI property market has suffered more than any other area in this recession, so you can get some bargains when you move, but you need to be realistic about selling. Or just stay put.

Horizon81

Interesting to hear all the points about 'offers over' Why such a hatred?

Is it because if you offered that price (e.g. offers over 130k and you offered 130k) that the vendors almost always say no? Do they always hold out for offers OVER rather than an offer of said amount?

Personally I offer whatever I consider fair, regarless of how the advert is worded.

Orpheo

Horizon81 wrote: »

Interesting to hear all the points about 'offers over' Why such a hatred?

Is it because if you offered that price (e.g. offers over 130k and you offered 130k) that the vendors almost always say no? Do they always hold out for offers OVER rather than an offer of said amount?

Personally I offer whatever I consider fair, regarless of how the advert is worded.

Hatred is a strong word. I don't have a secret hate shrine to offers over properties or anything like that, I just don't view them and therefore don't offer on them. Fair doesn't play into it.

Horizon81

Fair enough. Where I'm looking to buy there's not that much choice so I can't afford to be picky. So what's the reasoning behind refusing to view such properties? Only asking as I'm a FTB and I do come across such adverts from time to time. Only made an offer on one, which was under the 'offers over' figure and got laughed at. Still, 1 year on and it's still for sale at offers over, same price.

Maybe it's a tactic used by a certain type of (annoying) seller?!

MarshallMellow

GDB2222 wrote: »

I wouldn't bother with gimmicks, such as cash-back. It doesn't count towards the deposit.

It's interesting that the house next door has sold for £125k. Is the only difference the garage? Does yours have more space inside, more land, etc? Put it another way, why is yours worth 20% more?

The NI property market has suffered more than any other area in this recession, so you can get some bargains when you move, but you need to be realistic about selling. Or just stay put.

Our house has a garage where next door doesn't. Neighbours found a house they really wanted, weren't prepapred to be patient and put their house on under value. House was snapped up straight away due to them wanting the other place.
To me that indicates that the house was sold cheaply. If I was buying a house and the 1st offer was accepted, I would always wonder if I could have got it for less. If I was selling a house and an offer came in shortly after I put it up for under what I was asking for, I would try to negotiate.