Guide prices?

silvercar

Just had a major run in with our estate agent who gave our house a guide price between £290k & £250k of course had loads of offers at the £250K which wouldn't leave much left over after paying the mortgage off & the works that have been done to bring my old house of 23 years up to scratch we didn't agree to such a wide price bracket .

The people buying your home are looking for value for money. They have no interest in your trust fund. They are comparing your home to others on the market.

If I was you I would ask for sealed bids by a set date. Maybe wait til September when people get twitchy about school applications. I wouldn't spend any more money on it.

You may have earmarked anything that is left over after the mortgage is cleared, but that doesn't feature in the EA or buyer's thoughts.

If you bought it 23 years ago, you must have paid a lot less than 250k!

Get what you can for the house and get shot of the mortgage. If you want to raise money for a trust fund start doing some bike rides and use justgiving.com. Your confusing 2 independent things here.

carefullycautious

Sorry to say this but the bathroom is awful and all that underlay on show does absolutely nothing to invite people in to view

Have you got wooden floors under the underlay? I would much rather see these.

just looked at the bathroom again, it looks like you have used a small sink that has come from a tiny understairs loo. The dolphins are gross, cant believe you have just installed this it looks like an 80s feature. Hate saying these things but have you been keeping up with what people look for when buying

shirlgirl2004

carefullycautious wrote: »

Sorry to say this but the bathroom is awful and all that underlay on show does absolutely nothing to invite people in to view

Have you got wooden floors under the underlay? I would much rather see these.

just looked at the bathroom again, it looks like you have used a small sink that has come from a tiny understairs loo. The dolphins are gross, cant believe you have just installed this it looks like an 80s feature. Hate saying these things but have you been keeping up with what people look for when buying

I thought the same about the bathroom. It is all hideous and needs to be ripped out. It wouldn't last 5 minutes if I bought it.

Mobeer

Just my thoughts:

There are few pictures, and the description is tiny.
Why are the available photos labelled "Picture No.04" upwards?

The title says 3 bedroom, but the and description once said 2/3 bedroom and the floor plan looks like a two bedroom house (bedroom 3 is off bedroom 2).

The floor in the photos looks like flattened cardboard boxes.

The picture of the bathroom - is the shower room? It looks like clear glass into the garden!! The sink looks bad too. Does the bathroom look better in photos than the shower room, given you have renovated it?

What about photo's of the kitchen? or the garden?

Since it was previously listed at 250k, and looks like a lot of work is needed, I would expect offers below 250k.

Pupnik

The lack of photos of the kitchen and garden would put me right off, I would think 'what are they trying to hide?' Plus, as has already been said, the description is an absolute joke, it looks like someone was in a hurry to clock off on a Friday afternoon and just couldn't be bothered with it.

I wouldn't spend any more money on it but I agree with the poster who suggested exposing the floorboards instead of the underlay (although leave the underlay there for whoever buys it, just don't have a photo of it as it does not look homely)

Egg_custard_2

A guide price of £250-£290k and an asking price of £270k are both likely to achieve the same offers of £250k and under. I'm afraid the stamp duty threshold pretty much stops anyone offering between £250k and £260k.

I can see the EA's tactic with the guide price listing... a lot of people will search RM by using an upper limit of £250k for their search (wanting to avoid paying above SD). With a £270k asking price, it wouldn't come up in the search. The EA is hoping the £250-290k guide price will attract buyers (which it did) who would then be prepared to increase their offer above the SD level (which so far they haven't). Personally if I was wishing to pay a maximum of £250k I would use an upper search value of at least £280k, with the hope of making a successful offer 10% under asking price in this 'buyer's market' and also catching the properties that have genuinely been over-valued.

It's an extremely difficult price bracket you're trying to sell in. The EA could do a better job with better marketing as discussed above, better photos and description. This still may not achieve an offer in excess of £250k unfortunately.

I would suggest selling the range cooker and NOT including it in the sale. At least that would give you a little extra towards the trust fund, and it's unlikely to prevent you from achieving £250k on the house.

rainee

wrong bathroom this one is the downstairs shower room the upstairs one is the new one!! I am begining to understand about the awful pictures as it doesn't show all the rooms
thank you all for your frankness it looks like we'll just have to bite the bullet
all that actually needs doing is for whoever buys it put carpets in and paint to their colour scheme
the range cooker was built in so realistically selling it sepaparately really isn't an option maybe the buyers can purchase this on top of the £250k

silvercar

Putting the cheapest carpets in situ would at least give the appearance that people can move in and then do any work when they want to. Without carpets it suggests its only suitable for people who want a project and can live elsewhere.

poppysarah

rainee wrote: »

Just had a major run in with our estate agent who gave our house a guide price between £290k & £250k of course had loads of offers at the £250K which wouldn't leave much left over after paying the mortgage off & the works that have been done to bring my old house of 23 years up to scratch we didn't agree to such a wide price bracket .

If you have a mortgage of 250k after 23 years of owning your hosue then I suspect that's entirely down to you taking "equity" out.

ceridwen

silvercar wrote: »

So it was listed at £290k and now its at 270k. That really is looking like the offers will be below the stamp duty threshold.

Problem is that with only underlay on the floors it looks uninviting. Some people find it hard to visualise a bare house.

Not so much "looks uninviting" - as "Where's the carpet? Why did they take it?" and I would have a bad feeling about that and be scrutinising the house and the price asked for it that little bit more closely as a result and expecting to be charged a bit less because of the missing carpet. If I was wavering then the carpet having been taken would decide me - ie against. When a buyer first takes on a lower price level house then the chances are that they've taken on a cheaper one than they really want and/or need and therefore won't be prepared to spend money on something like new carpet for quite some time and that doesnt tie in with not having a carpet at all.

I think you would be best taking up the underlay and just leaving the bare floorboards on show - so that they can think "Okays...no carpet...well...we are people who dont particularly want carpet anyway and that way we have been able to check out that the floorboards are up to being sanded and left".

Underlay but no carpet spells out to me "Worst of all possible worlds - the floors are so bad that they need carpet, but I wouldnt have any".:cool: