Fixed price ...?

WeAreGhosts

kinger101 wrote: »

Are you only prepared to accept exactly £250,000.00? If not, I can't see the advantage myself.

i wouldn't be jumping for joy, put it that way.
couldn't decide whether it really would get more people through the door or not ....

jimbog

WeAreGhosts wrote: »

i wouldn't be jumping for joy, put it that way.
couldn't decide whether it really would get more people through the door or not ....

doesn't sound you're keen so don't do it

Hoploz

OK yes you're at one of 'those' thresholds.

People may have in mind the 250 level and not want to go over it. I guess the agent realises pricing at 259 will
A. Bring in offers of 250
B. Limit buyers searching online as they may search up to 250 but not over as that can be how the searches work.

But if you think it is significantly better than other things on the market at 250 then how about compromising and starting out at 'offers over' 250? You never know, someone might just be encouraged to offer more especially if there is competition. And you can always remove the 'offers over' bit later if necessary, without changing the actual figure, if you get what I mean!

Can you justify it actually being significantly better than other local properties at 250 though?

WeAreGhosts

yes, offers over 250k might be the way to go. it'll catch those looking up to 250 and also those over 250k might think there's a deal to be done.

there's a bit of a gap at 250 round my area. not much to go on, but a similar house was on at 275 (it had better kerb appeal, but the third bedroom was much smaller) but the agent has told me it will be sold for less (not sure of final price yet). it started at 300k - i think they were dreaming!

there is another down the road on at 250 but has less garden, hardly any driveway and less floor space overall (and that started out at 280!)

kinger101

Hoploz wrote: »

OK yes you're at one of 'those' thresholds.

People may have in mind the 250 level and not want to go over it. I guess the agent realises pricing at 259 will
A. Bring in offers of 250
B. Limit buyers searching online as they may search up to 250 but not over as that can be how the searches work.

But if you think it is significantly better than other things on the market at 250 then how about compromising and starting out at 'offers over' 250? You never know, someone might just be encouraged to offer more especially if there is competition. And you can always remove the 'offers over' bit later if necessary, without changing the actual figure, if you get what I mean!

Can you justify it actually being significantly better than other local properties at 250 though?

I suspect that now that stamp duty has been reformed, the 250K threshold is pretty meaningless. People work out their budget based on deposit, the equity stake they want and affordability of repayments. I don't think being a nice round number has any affect. I might be wrong, but is being divisible by £50,000 a good reason to buy a house?

pinkteapot

No threshold any more. There aren't any since the changes to stamp duty.

rosie383

If you wouldn't be prepared to accept asking price then don't go for it. If someone does offer asking price you will be under pressure to accept from the estate agent. I think your idea of OIEO £250k would catch all the viewers looking up to that price and at least will put in their heads that they shouldn't be coming in with offers lower.

Hoploz

pinkteapot wrote: »

No threshold any more. There aren't any since the changes to stamp duty.

I know the stamp duty threshold has been removed, but there is still a psychological threshold. No, there is no real reason, but it tends to be how people think.

Kevie192

I don't think OIEO means anything in England. People will still offer under it, as evidenced by this forum!