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Fixing Price of Property Early On
Beancounter
Posts: 1,076 Forumite
I am selling my late father's flat at the moment. It's only been on the market a few days but not a single enquiry so far. I wanted to put it on at a fixed price of £127K but the agent persauded me to go at offers over £128 (valuation is £130K). Property is in Scotland.
Since dad died I have been unwell, loads of stress to deal with and just really want the flat sold quickly for a bit of closure. Would it seem like an act of desperation at this stage?
The home report mentions some woodworm (unsure if active at present) and some damp in the corners but nothing that has caused any damage ( this was actually mentioned in the survey my parents got 18 years ago when they bought the flat!) so maybe this is putting off potential viewers and a nice low fixed price will get 1 or 2 people through the door?
Since dad died I have been unwell, loads of stress to deal with and just really want the flat sold quickly for a bit of closure. Would it seem like an act of desperation at this stage?
The home report mentions some woodworm (unsure if active at present) and some damp in the corners but nothing that has caused any damage ( this was actually mentioned in the survey my parents got 18 years ago when they bought the flat!) so maybe this is putting off potential viewers and a nice low fixed price will get 1 or 2 people through the door?
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Comments
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Ten years ago I'd have said that fixed or o/o would tell a story to buyers, but since 2008 I really don't think it makes any difference in most Scottish markets, people will just offer what they think it's worth, and that's likely to be under the asking price however it's advertised. To get viewers it has to be positioned correctly relative to similar properties, and if you want to get viewers in quickly you need to make the headline price a little under your rivals. Or just bite the bullet and sell at auction.0
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If its only been on a few days then you need to give it at least another week or so to see if there is anyone out there interested.
I wouldnt be changing prices yet!
I agree with above comment regarding o.o or fixed price, makes no difference to most folk and they will just offer what they want.
With o.o. there is no limit to what you could get, but fixed price there is.0 -
I know it's a bit early but there has been nothing but stress the last few weeks and getting this off my mind is worth more than a potential few thousand pounds.
There are 5 similar flats in street and nearby, mine is already the second cheapest but maybe the fixed price will be a nice lure for potential viewers.
3 other identical flats went under offer in a week just 4 weeks ago but since then nothing else has moved so not sure if that is the local market slowing down or just that there is no-one looking for this sort of property at present.0 -
Beancounter wrote: »The home report mentions some woodworm (unsure if active at present) and some damp in the corners but nothing that has caused any damage ( this was actually mentioned in the survey my parents got 18 years ago when they bought the flat!) so maybe this is putting off potential viewers
How many people have looked at the home report so far?0 -
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Beancounter wrote: »I have no way of knowing unless the agent can tell?
Call the agent tomorrow and ask.0 -
Beancounter wrote: »I have no way of knowing unless the agent can tell?
Yes, they'll know - I wouldn't presume that the contents have put people off if nobody's even looked at it so far (not that the contents sound out of the ordinary anyway).
In any event I'd give it more than a few days to assess what the market response is..0 -
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Potential buyers will offer anything whether marketed at offers over or fixed, but do remember fixed price pretty much sets the max you will get. Nobody will offer that fixed price unless there is a bidding war for the house.
If its marketed at fixed £127k it is likely that if you get an offer it may be around £120k.0 -
Potential buyers will offer anything whether marketed at offers over or fixed, but do remember fixed price pretty much sets the max you will get. Nobody will offer that fixed price unless there is a bidding war for the house.
If its marketed at fixed £127k it is likely that if you get an offer it may be around £120k.
In my experience here in Scotland fixed price means just that unless the property has been on the market for a while.
If it gets some interest in the place then job done.0
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