Selling Dilemma - what price?

kidmugsy

Discuss with your neighbour whether also to advertise as a matched pair of semis. Somewhere there may be a couple who would like to buy just that, or someone with a grandpa/grandma problem.

jamesmorgan

UsernameAlreadyExists wrote: »

Is offering as much as 10% under asking price normal practice these days? seems a hell of a lot! and I don't think I've be brave enough to do that myself!

The average selling price is normally 5-10% below asking price depending on the market at the time. Over the past couple of years it has been about 7-8% below asking. To achieve this type of reduction your opening offer would need to be about 10% below asking. Note, however, these are just averages. Individual houses could be much lower or higher depending on local market conditions and how aggressively it is priced.

As always you need to understand typical sale prices (not asking prices) in the local area and offer a few % lower to allow for negotiation.

tim123456789

DRP wrote: »

199,950 minus approx 10% negotiation with buyer = £180,000 so he may have marketed it correctly?

Unless negotiating with Phil and Kirsty, in which case "Um I think 196K would be a strong opening offer"

tim

becominganobsessivesaver

When we bought there were two identical houses for sale on the same cul de sac, one priced at 200 and one at 220. They both had slightly different aspects, had been purchased new within a couple of months of each other. The one at 220k had obviously had better tiling, flooring, kitchen etc thrown in when they purchased (8k more than the other). We preferred the 220 house, but our negotiating point was a valuer would never value it at more than the asking price of the other, so we refused to go over 200.

So, basically, you will inevitably drive down the house prices, although you may not get the sale as a result!

UsernameAlreadyExists

I'll be going with £189,950 ... as per the EA's recommendation. He wants me to sell, and he wants his cut from the place I want to buy which is advertised through the same EA.

*If googler happens to read this, "yah boo sucks" ... I am going with a high street EA, but I argued the blinking toss, put my case, and basically got him to price match with a top whack online agency. So less than 1/2 price highstreet ... but high end online agency. Best of both, but a good compromise. (I'll be conducting my own viewings).

Thanks all for the comments, but the "advertise as a matched pair" (kidmugsy) suggestion was certainly interesting ... but I'd have no idea how to even start to go about this. I've never (when looking) seen such a thing!

hazyjo

With two very similar properties, it'll be down to personal taste, or whoever accepts the lowest offer. I doubt the intitial asking price will make naff all difference (unless we're talking tens/hundreds of pounds difference!) - I'd definitely view both and would offer on what I liked, or on both - and see who took the lowest.

Even with 2 near-identical properties, people usually find they have a preference.

I remember viewing a first floor flat with a couple of friends once (one was buying, not me). The EA said the ground floor one had just come up and they could show us that too. My friend had ruled out ground floor flats, but we said we were there so might as well take a look. We all loved it and she ended up buying it. It faced the same way as the other, it had the same layout, but there was just something we couldn't put our fingers on as to why the other was so much more appealing. It just felt like home and somehow seemed brighter - maybe decor, maybe just gut feeling. Neither decor was to our taste so it wasn't like a show-home or anything!

Jx

Mallotum_X

If you are happy at 180k or above I would go under both your neighbour and the one round the corner, and consider 189,995. So what if it annoys him, you hopefully will have sold and not be his neighbour any more.

kidmugsy

UsernameAlreadyExists wrote: »

As it happens I am moving because I've recently received an inheritance that took nearly 2 years to resolve so I've been bleating about moving house for ages.

You want a bigger house and you've just received an inheritance? Buy his house and get permission to knock them into one. Or some less formal equivalent.