Price reduction

Beenyrocks

Ok so house been on market for 3 and 1/2 weeks had 12 vieŵings which I'm pleased with but no offers. Feedback off some has been 3rd bedroom too small or garden not as big as needed though everyone commented on fact it's a beautiful house just not quite right for them

Currently marketed at £169,950 but come end of April could let it go for £160k (currently could only let it go for £165) as early redemption fee will no longer apply by completion time ( we need to change lenders to secure bigger mortgage)

We aren't on a huge rush to move yet as haven't seen anything that ticks all the boxes yet.

Question is do we reduce to 165k on the assumption of potential lower offers or say 160kwhich clearly looks better reduction but will leave no room for reduced offers.

Thanks

da_rule

You could consider dropping it. Only problem is if you cut the price now and then again in a few weeks (end of April) then people may question why it appears you are so keen to get rid of your property. Speak to your agent and tell them you are willing to accept offers of £165k. I'm assuming you've allowed for the estate agent and legal fees in you calculations.

Beenyrocks

Yeah every other cost is figured I'm conscious I don't want to reduce too often as you say people may ask why! Suppose it's early days just frustrating as we had it on the market for a few months last summer too, we have went with the lowest valuation naively thinking a quick offer would come in, guess the waiting game continues!!!
Hopefully next few weeks will bring in a flurry of new potential buyers as spring arrives

Beenyrocks

Any other thoughts on tactics?