Wanting to sell...and just wasting everyones time..

Eejay

If other houses are selling for £140,000, and this place needs some work doing then I think the £15,000 price difference takes that into account already. From what you've said it needs a new boiler ([STRIKE]£1,000?[/STRIKE] £2,000?), rewiring (£2,500?), a new garage door/roof or the garage removing (£2,500?) and a wall/chimney removing and a new kitchen putting in (£5,000?). The price difference more than covers those things.

Even if you then knock a bit off because most prices leave room for haggling, I don't think there is any way the seller is going to accept £108,000. I think the EA would class that as one of the 'stupid offers'.

Psychologically, it looks like £20,000 less than they are asking because the second number is '0' instead of '2', if you see what I mean. If you want to offer lower, find a number that's more attractive, i.e. starts with '£11?,???'. Also, I know it sounds silly but for example if you were choosing between £112,000, £112,500 and £113,000, to me the £112,500 would be the most attractive when written down because there are fewer zeros and it just feels like a more substantial number, even though it's not. It's also pretty much halfway between £100,000 and the price they are asking for, so it's easier to think about than an 'odd' number like £113,000. I don't think they'd accept that either, but I think it would be a much better starting point than £108,000, and from there you could increase by £1,000 a couple of times before giving up. It still sounds like you'd be getting a reasonable deal if they were to accept £114,500 for example.

justjohn

You also cannot get 10% of every single house on the market.


Some houses the owner cannot stomach it.
Some are priced to sell.
Some you can get even more, But its market dependant.

Billie-S

Eejay wrote: »

If other houses are selling for £140,000, and this place needs some work doing then I think the £15,000 price difference takes that into account already. From what you've said it needs a new boiler (£1,000?), rewiring (£2,500?), a new garage door/roof or the garage removing (£2,500?) and a wall/chimney removing and a new kitchen putting in (£5,000?). The price difference more than covers those things.

Even if you then knock a bit off because most prices leave room for haggling, I don't think there is any way the seller is going to accept £108,000. I think the EA would class that as one of the 'stupid offers'.

I agree.

There is no way Alias, that you are going to get this house for £108,000. If they have not reduced it from its current price, then why would you think that the vendors would reduce it to such a low price?

I have to say though, that to have a boiler fitted (professionally) is going to cost more than £1000. Probably twice that.

ilikewatch

From the info you've given the asking price sounds more than realistic.
When I've sold houses I always price them at what I think the house is worth given its present condition, and I have no time for "cheeky" buyers trying to bag a bargain at my expense. I've always got the price I wanted.

Eejay

Billie-S wrote: »

I agree.

There is no way Alias, that you are going to get this house for £108,000. If they have not reduced it from its current price, then why would you think that the vendors would reduce it to such a low price?

I have to say though, that to have a boiler fitted (professionally) is going to cost more than £1000. Probably twice that.

Probably - I forgot to include fitting that one lol... we've looked at new boilers in the past and I only remembered the prices of the boilers I'd looked at. Still within the £15,000 though

ilikewatch

Also worth considering the difference between a boiler that needs replacing and a boiler that the buyer wants to replace.
I recently had a potential buyer who reduced their offer by 3K to reflect the cost of replacing the boiler. I had to point out that whilst being almost 15 years old, the boiler was practically as efficient as a new condensing boiler, was working perfectly and had only failed once in its life when it required a new part at a cost of about £130 fitted, as such it didn't "need" replacing, and certainly not at my expense.
As it happens, the next viewer was a retired central heating engineer who was delighted that I had a "proper quality piece of kit" rather than "one of these new pieces of rubbish that's designed to last as long as the warranty and no longer".

Annie1960

This house is worth exactly how much someone is prepared to pay for it.
If the vendor won't accept offers, they won't sell it.
Offer what you think it's worth to you.

ilikewatch

Annie1960 wrote: »

If the vendor won't accept offers, they won't sell it.

Well that's true, but sooner or later they'll receive an offer at or above asking price.

Billie-S

Eejay wrote: »

Probably - I forgot to include fitting that one lol... we've looked at new boilers in the past and I only remembered the prices of the boilers I'd looked at. Still within the £15,000 though

Ha ha, it's OK. Lots of people do that.

And yes, I agree with the rest of your post. If you paid £15,000 less than the others in the street, then that £15,000 should be enough to do it up. Given what needs doing.

I think that the OP however (like quite a few other people,) wants to think that they have got a good deal. So to get it for say £108,000 instead of £125,000, and THEN spend around £15,000 on it, would mean that they have a house that is in as good condition as the rest, and they have over £15,000 equity on it.

I guess some people feel that they don't want to go to all that trouble, and end up with no equity. IYSWIM.

They don't want to have to do it up, and have it only worth the same as all the rest; they want to feel like they got a really good deal.

Hence, why the OP would prefer to get it for say £25,000 to £30,000 less than the others, so that when they spend the £15,000 to possibly £20,000 it needs, they will have some equity on it. I hope I am making sense. It sounds OK in my head I swear! :rotfl:

Try offering say £119,999 OP. You could make do it up a bit, and still have a bit of equity, and it's not an 'insult' to the vendor.

ilikewatch

Billie-S wrote: »

Try offering say £119,999 OP. You could make do it up a bit, and still have a bit of equity, and it's not an 'insult' to the vendor.

Surely for the sake of a penny £120K "sounds" better to the vendor than £119,999