Considering what to do on our asking price

Dan-Dan

Thanks Fire Fox , i understand what you are saying , what i am trying to get across , is that NO we dont want to sell for obvious below market value i.e at an auction , but both my wife (who uses my user name on hjere as well) and her Bro , want the sale done and dusted asap , as do i and the bros wife , the other benificiries are our kids and bros kids , no one else is involved in that respect

So , what i`m trying to understand , is how best to `invite` those teetering on offering or not , to plumb for the `offer` side , because 300k up , is in anyones eyes who is local , an excellent price (to receive) for the house , my gut feeling tells me though , that because every room in the house needs renovation , there is a case to be made that we could sit on the market for months at +300 and not sell due to the work required

After all , MARKET value is only what someone will pay , and due to the house having no money spent on it since grandad passed , we were always of the mind it`ll be a builder or investor that snaps it up

I dont think anyeon would be able to make a case that we sold it `too cheap` with the data i have to back our thoughts up...we have the house insurance rebuild value (185k) , 3 estate agents value , one starts at 260k , one is the 335k at 4 weeks then bring it down to offers over 300k , plus there is nothing comparable in the culdesac of 8 to go against

shall i post the link , i dont mind being brave ...!

Dan-Dan

I should say, the `offer` we have had, though whether it should be considered in the true meaning of the word at all seeing as it came from a non proceed able buyer, was £320, and that’s only because her dad lives next door and she as a job cares for him, plus she will need a bungalow in years to come due to failing health, so it could be argued she offered TOO MUCH due to needing it more than someone else

Dan-Dan

anywhooo , just spoke to them, have agreed a strategy of 325k offers......

DaftyDuck

Dan-Dan wrote: »

anywhooo , just spoke to them, have agreed a strategy of 325k offers......

Good luck. Don't panic drop too early!

moneyistooshorttomention

What you could do is check out how long the median time is for your price range of houses to sell in and then don't panic unless your house goes over that.

I want mine sold yesterday....but it's still well within the 2 month median time for my price range in my location - so I know it's due to sell this month or next according to that. I've made up a file of the "rival" houses to my own that are currently for sale in this price range and written down the date they came on the market and checked out to see the reason why they haven't sold yet for ones that have been on for more than about 4 months and the solitary contender that has been on since 2011 and there is usually a very obvious reason for their lack of sale to date. The 2011 orphan, for instance, is quite obviously the worst of the lot and has obviously been rented out (bed still there in sitting room even), very tatty, distinctly old-fashioned - but on at the same sort of price as the more "standard level" ones:cool:

I'm certainly wondering if there is an element of some of my potential buyers deliberately sitting it out for a few weeks to see if my price gets reduced to bargain level and taking the gamble no-one will buy it for "proper" price level soon. Just wishes I could find a way to get the message over to them that the price is now at the lowest level it will ever be....so they might as well stop any waiting-around and get on with viewing the place....:cool:

To say I'm watching my rivals like a hawk would of course not be an accurate statement at all - much!!! So I suggest you analyse what rivals you have in the vicinity to see if you have any need to worry comparatively speaking..

Dan-Dan

i am pretending we arent for sale now and also ignoring rightmve and zoopla

its hard but no sale of ours = no purchase

will have to both learn patience

Ciderarmy1987

moneyistooshorttomention wrote: »

What you could do is check out how long the median time is for your price range of houses to sell in and then don't panic unless your house goes over that.

I want mine sold yesterday....but it's still well within the 2 month median time for my price range in my location - so I know it's due to sell this month or next according to that. I've made up a file of the "rival" houses to my own that are currently for sale in this price range and written down the date they came on the market and checked out to see the reason why they haven't sold yet for ones that have been on for more than about 4 months and the solitary contender that has been on since 2011 and there is usually a very obvious reason for their lack of sale to date. The 2011 orphan, for instance, is quite obviously the worst of the lot and has obviously been rented out (bed still there in sitting room even), very tatty, distinctly old-fashioned - but on at the same sort of price as the more "standard level" ones:cool:

I'm certainly wondering if there is an element of some of my potential buyers deliberately sitting it out for a few weeks to see if my price gets reduced to bargain level and taking the gamble no-one will buy it for "proper" price level soon. Just wishes I could find a way to get the message over to them that the price is now at the lowest level it will ever be....so they might as well stop any waiting-around and get on with viewing the place....:cool:

To say I'm watching my rivals like a hawk would of course not be an accurate statement at all - much!!! So I suggest you analyse what rivals you have in the vicinity to see if you have any need to worry comparatively speaking..

What do you actually benefit from doing this though? not a lot I would imagine! especially if you know you arent going to drop your price