It's starting to feel like lowering the price was the wrong thing to do....

moneybunny123

sugarwalsh wrote: »

Why not go for the part exchange offer of £140,000?

If you didn't want low offers then I am at a loss as to why you put your house on market £20,000 below what EA's suggested and lower than the price you had been offered. Why not put it back on at £140000? I feel you may have shot yourself in the foot as people are sensing a bargain due to the big price fall. They probably think you are desperate. If you are not then wait until the right offer comes in. If you are, take up the part exchange offer or the lower offers.

MEgan

As already mentioned in this and another thread, we pulled out of the part-ex as we discovered (by chance) that land adjacent to the house we were buying (that currently has beautiful open views of open land and a lake) has planning permission for a restaurant to be built on it. Thus blocking the view and, we feel, affecting the value of the house.

moneybunny123

serious_saver wrote: »

Don't be disheartened. There are a lot of people out there at the moment who are offering low in the hope of a bargain.

Just because you are getting low offers that doesn't mean that's all you will get.

Your offers so far have probably come from people like me, who have a set price in mind but not necessarily looking for something specific.

Personally I've put a couple of offers on properties that were above my budget on the off chance that the seller is desperate to move quickly. Most have been rejected outright but one very nearly came off.

It probably doesn't help that we're coming into December and it's an incredibly quiet time of year for the property market. If your house was on in the spring then I expect that it would fly off at the price you've gone for.

You're dead right and this is the crux of it all really. If we hadn't seen somewhere we'd love to buy, we'd happily hold out for more money - and we told the EAs that the house would only be marketed at £129k as long as the house that we wanted was still for sale. If that got sold before we sold, our price would go up again. The couple that made the £125k are lovely and I know they'll make this their home for many years. So much nicer to see it go to them, knowing how much they already love it, than let it go to some investor with no care for it. They're in a great position too. They've sold their house, have a mortgage in place and are good to go.