Selling house, getting low offers

Ciderarmy1987

moneyistooshorttomention wrote: »

What part of the country are you in?

I have just got out my calculator and an offer I turned down on my house was the same percentage of the asking price as you have been offered and a couple of posters are describing as "very generous" or "good".

I deemed it too low and so did my EA.

If it takes a bit longer...then it takes a bit longer....

So far today 1 viewer in and another one to turn up later and I am still awaiting a final verdict from a "Likely" who wants to check out a few more houses yet before making a decision.

If I were in a slower part of the country, however, I may have taken that percentage - but in my part of the country I should be able to get a more realistic offer than that.

EDIT: I have had a house in this area quoted to me in last few days as having had 2 silly offers and an offer with unrealistic terms - but vendor got offered the asking price and no strings attached eventually...

Your in a fast moving part of the country but have been on the market, what 3-4 months....... interesting?

lincroft1710

Having 40% no show is high, but 66% of those who actually viewed have offered. Clearly the £99K offer is from a serious buyer, but would he be tempted by the competition.

You need to ask your EA why the no shows decided not to view and you definitely need to check out the competition. It'll give you an idea of whether your expectations are justified.

Dan-Dan

I do enjoy a long pointless waffle post from Money , always helps to cheer up a dreary day!

I_have_spoken

£99k from a proceedable buyer would have been fine for me.

phoebe1989seb

I agree with Dan-Dan and Thrugelmir regarding *improvements* as being subjective. I for one, don't like properties that have been *modernised*, a) because I prefer a project and b) because *modernisation* often includes the addition of such delights as white UPVC double-glazing and laminate flooring

When we last sold - *in an incredibly slow-moving area (*for the benefit of moneyistooshorttoomention ) - in 2011, we had previously spent a lot on restoring the house over the past three years and had taken great pains to keep everything in tune with its character. Everything was high end - solid timber, granite, V&B etc, but despite this our EA confirmed we had only made the house more easy to sell.

He was right - we accepted an offer 4% under our very realistic AP within two weeks. We were happy to shift the house quickly even though we *lost* money as we had feared it would take forever to sell. Our buyers reason for choosing our house - the beautiful kitchen and bathrooms, but whilst we could have pitched the AP higher, IMHO we'd have struggled to achieve a higher offer

If I was the OP I wouldn't have been so quick to turn down the £99k offer........

Desperado99

I would expect to get £5k off the asking price of any price where we are (almost static market here) and I'm expecting to accept a similar amount off ours, and that's even after dropping our price recently. Having said that 2 offers in 4 weeks is pretty fantastic so the OP's situation sounds totally different to our local market.

sinbad182

moneyistooshorttomention wrote: »

What part of the country are you in?

I have just got out my calculator and an offer I turned down on my house was the same percentage of the asking price as you have been offered and a couple of posters are describing as "very generous" or "good".

I deemed it too low and so did my EA.

If it takes a bit longer...then it takes a bit longer....

So far today 1 viewer in and another one to turn up later and I am still awaiting a final verdict from a "Likely" who wants to check out a few more houses yet before making a decision.

If I were in a slower part of the country, however, I may have taken that percentage - but in my part of the country I should be able to get a more realistic offer than that.

EDIT: I have had a house in this area quoted to me in last few days as having had 2 silly offers and an offer with unrealistic terms - but vendor got offered the asking price and no strings attached eventually...

How is your house sale going btw?

You seem to be the authority on how to sell houses - how many offers have you had and after how long did you sell?

shortchanged_2

moneyistooshorttomention wrote: »

What part of the country are you in?

I have just got out my calculator and an offer I turned down on my house was the same percentage of the asking price as you have been offered and a couple of posters are describing as "very generous" or "good".

I deemed it too low and so did my EA.

If it takes a bit longer...then it takes a bit longer....

So far today 1 viewer in and another one to turn up later and I am still awaiting a final verdict from a "Likely" who wants to check out a few more houses yet before making a decision.

If I were in a slower part of the country, however, I may have taken that percentage - but in my part of the country I should be able to get a more realistic offer than that.

EDIT: I have had a house in this area quoted to me in last few days as having had 2 silly offers and an offer with unrealistic terms - but vendor got offered the asking price and no strings attached eventually...

Classic unrealistic seller mentality.

A house will sell if it is priced appropriately within it's local market.

Ask yourself. Why are some houses selling very quickly when they come onto the market, then you have others that can be on the market for months if not years.

I'll give you a clue...........it's something to do with price.

princesstippytoes

sinbad182 wrote: »

How is your house sale going btw?

You seem to be the authority on how to sell houses - how many offers have you had and after how long did you sell?[/

Money has never sold a house. She bought her first house with the help of her family and got stuck in a clerical job on minimum wage until she retired so wasn't able to move up the housing ladder. Not quite sure where the expertise is coming from other than watching lots of episodes of location location location and homes under the hammer.

Winkle1908

I personally would offer lower if a house said OIRO rather than Just £105K. I don't know why but I would feel more like it was enticing an anything offer.

Unless you are happy to wait then I think most people would offer at the £99k-£100k mark. I think you need to weigh up any potential buyers position, and the absolute lowest offer that you can accept. If you can't afford an offer of 99k forget about it and move on, just be prepared that you are likely going to find it might not be the first offer round about that.

We sold our house last June for 113.5k, someone who wasn't in a position to proceed put an offer in of asking price which we refused because they weren't in a position to buy there and then and we had other interest and viewings lined up (they had a sale going through but the buyers had pulled out on them once and it didn't sound very secure).

The following week some ftb put an offer in 5k below, which was a bit low for us, we got around it by agreeing to leave some furniture and that brought the offer up by 3.5k. The new furniture wouldn't fit in the house that we wanted so it worked for both them and us because they didn't need to buy things so could up the asking price. When they viewed I said that we would chuck in stuff if they put an offer in near asking price. There were loads of other houses like ours in the price bracket but none that offered furniture and I personally think that swayed it!