When to drop price

Mickygg

Crikey you aren't in a rush to sell and after a week you are thinking of dropping the price?

That will appear desperation to sell. At least give it a month!!

PixelPound

Define not in a particular hurry to sell, just if you are worrying after a week, are you wanting a sale by August, September? Would still on the market approaching Christmas be nightmare?

Leave the price as is, if someone comes in with a low offer you can negotiate then. If you lower now people will know that you can be pushed further. Remember people have plugins like Property Bee that show changes in sale prices.

As the EA suggested this price, do they get most their money from or for the sale or for listing it?

skintpaul

seems at least £30k over valued, compared to others nearby?

I'd give it a week or so, and check what marketing the agent is doing for you..

Also- back garden may attract more viewings, if tidied up? the mega shed is fab!

seven-day-weekend

RAS wrote: »

I am slightly confused as to which house is for sale? The doors and roofs do not line up.

So is it the left hand one with the two roofs or the right hand one whose roof seems to extend over the left hand door?

It's the one with the wisteria and next door have a flying freehold, their bedrooms come over our passage, which is why the roofs don't line up (we have the creeping freehold).

seven-day-weekend

kinger101 wrote: »

It all depends on the local market. In some places, you can expect viewings booked the day it goes on the market. Find out what's normal where you are (and for your size of property) and then go from there.

EDIT: Just checked the listing. It's a very nicely presented house, but having only a downstairs bathroom will put some buyers off. My main concern is it's advertised as a three bedroom, which would include the loft room (which isn't described as such in the floorplan or particulars). If the loft room meets building regulations, call it a bedroom. If it doesn't, then DO NOT MARKET AS A THREE BEDROOM! Recently on this site, someone got the vendor's EA to pay all their legal costs from an aborted sale when they found out that a loft room described as a bedroom did not meet building regulations.

The loft bedroom is original to the house, so does not have to comply with building regulations.

seven-day-weekend

It is more expensive than other houses, but it is also much nicer and has more original features. Also some of the streets nearby are not as good as the one we are in, which is why those houses are cheaper, it's one of these postcode things.

The garden is meant to be full and busy, it's a wildlife garden to attract butterflies, bees and bugs.

I know the downstairs bathroom will put people off, not a lot we can do about that.

We really are not in a hurry, we already have a bungalow to move in to, but we've had this house for nearly forty years and have no idea what is normal in these circumstances.

But although we are not in a hurry, we don't want it to be for sale this time next year, because people will think there is something wrong with it.

The EA is one of the most prestigious in the area, specialising in high-end properties, although they also take some cheap ones like ours, if they are good. We do not really know what the asking price should be, it just seemed an awful lot.

Anyway, thanks all for your advice, we have a bit more idea of what is usual now.

seven-day-weekend

We bought the summerhouse online and only got it last year when we had decided not to move,:o so someone will get a good deal there! I can't remember the website though.

Thrugelmir

seven-day-weekend wrote: »

The loft bedroom is original to the house, so does not have to comply with building regulations.

The particulars describe it as a loft room (and the floor plan) not a bedroom. Nor are there any pictures of the room.

I doubt velux windows existed when the property was originally built.

seven-day-weekend

Thrugelmir wrote: »

The particulars describe it as a loft room (and the floor plan) not a bedroom. Nor are there any pictures of the room.

I doubt velux windows existed when the property was originally built.

When we bought the house in 1976 it had a flap-type window in the north-facing roof, we just replaced it with a velux and also added one in the south-facing roof.

When we knocked the old plaster off to replaster the room, we found a bricked-up window in the side wall, this seems to suggest that, as our house was built about forty years before the ones on either side, that it originally had a window there which was blocked up when the others were joined on, and the 'flap'put in. It also shows that the room was original to the house.

(Ours was built around 1857, the others were added on in 1895).

kinger101

seven-day-weekend wrote: »

The loft bedroom is original to the house, so does not have to comply with building regulations.

Does it meet the legal requirements to be marketed as a bedroom? Your EA is sitting painfully on the fence at the moment. Perhaps they are a small EA firm not aware that the law might not be a grey as they anticipated. Most large EA's just call these loft rooms now.

If I had a family member there, my concern would be whether they had a adequate means of escape in a fire. Maybe you've already done this, but it might be worth double checking with the planning office whether it would meet today's standard. And if not, what might be required to get it there.

The difference between a habitable bedroom and storage space might be £20K, so it's probably worth getting some clarity on this.