What's your lowest price? How to answer? *updated* We're under offer!

Desperado99

Hi all,

As some of you already know, our house has been up for sale for some time now (OK, a year, there I said it ) and the last few viewings we're had the same question asked:

"What's the lowest price you would sell for?"

What's the best way to answer this? I don't say the absolute truth as I don't really want to give them that info, I normally give a figure a little above what my lowest price actually is.

Thanks

D

DTDfanBoy

If your house has been on the market, and not sold, for a year perhaps you should actually start telling then what your lowest price is

At the moment everyone that has viewed your property obviously thinks you're asking far too much

Kayalana99

I know car selling is no way same as house selling but sometimes your lowest price might as well come out...

I sold my car on Ebay listed at £3,200 but I actally wanted something in range of £2800-£2900. Listed it for 30 days and after 20 days of having watchers but no messages I bumped it right down to £2850 with a message saying No offers this is the price I want..sold it within the day

Desperado99

cheers

we've already dropped the price..........

TBH when it's only up for around £100k to begin with, there's only so much we can drop without actually giving them money to take it away

Kayalana99

Maybe just stick to the price you've set it as...tbh unless they are investers you usally find if they are willing to put an offer in they've probally already decided that they want your property...and if they can afford 100k..they will probally pay it.

Perhaps thats what you should reply with..we've already dropped it to the lowest really we want to take...If they want your house.. I doubt 5k would make the differnce..although of course everyone wants to save as much money as poss!

Dan-Dan

sorry , but if it hasnt had a single offer in a year then you need to be having a serious think about your ongoing strategy

I_have_spoken

The 'floor' price would what a BTL LL would pay and still get a 6% to 8% yield. You should look at rentals in your area and base the rock-bottom price on this, then add on 10% for negotiation by your EA if you really want to sell.

I sold to a BTL LL last year in a tricky area but need to get out. I just said to them, it's walk in condition so you can get tenants the day after completion, same properties are letting for £xxx, my price of £yyyy will give you 6% yield.

Werdnal

Ask them "Whats the highest price you would offer?", then negotiate!

As others have said, if you have already dropped the price and its not getting any interest, you probably haven't dropped enough.

Care to post a Rightmove link, for constructive criticism? You have to have broad shoulders as posters can be blunt, but sometimes a totally impartial view on the property can give you a perspective on why it is not getting any interest or something glaring that is putting people off! When it is your home, and there could be something obvious that you love (or have learned to live with) that could be improved.

ACG

You dont have to answer it. Its a stupid question.

As has been suggested, ask what the most they will offer is to see if you will accept it... theyre not going to answer it (unless theyre a bit numb).

Tell them if theyre interested make an offer and you will go from there. You want as much as you can get, just like they want it for as little as they can get it for.

Desperado99

Werdnal wrote: »

Care to post a Rightmove link, for constructive criticism? You have to have broad shoulders as posters can be blunt.

I'm far too much of a chicken for that

As everyone has said, if it hasn't sold by now, its the price. something to ponder going forward.

Werdnal

Desperado99 wrote: »

I'm far too much of a chicken for that

As everyone has said, if it hasn't sold by now, its the price. something to ponder going forward.

So you are happy to show complete strangers around your home (who could actually just be window shopping and have no intention to buy), yet won't post to members here? Slightly illogical, but each to their own I guess