Is it worth looking at houses over budget?

Melaniep101

getmore4less wrote: »

Unless it is worth more than £400k you are potentialy shutting out a chunk of the market.

Offers over and a keen(highside) price smack of unrealistic seller and some people just won't bother with them even if they can get into the £390s

The other issue is you will be in the upto £400k searches which is not your target market but not in the £400+ searches where you want to be.

It is worth over £400k, we've researched sold prices in the local area and we priced it realistically. We're back on the market as our chain collapsed last week. Prior to that happening our buyers were paying £400k. We don't seem to be having trouble attracting viewings, as we've had 3 since we went back on the market on Friday.

Melaniep101

Landofwood wrote: »

For a start your Estate Agent is stuck in the past.

Nowadays properties are found on Rightmove. Someone enters their desired location and a max budget of £400k, and they see pages and pages of houses listed at exactly £400k.

Where is your house? Lost on page 20 because your stupid Estate Agent listed it at £399,950.

Yep, I expect you're more qualified to comment than my EA who lives and breathes the local market/property prices...:cool:

Grenage

Melaniep101 wrote: »

Yep, I expect you're more qualified to comment than my EA who lives and breathes the local market/property prices...:cool:

While 'stupid' is a bit harsh, he's not wrong. We put our house on the market at 200, which made it top of the list for anyone searching up to 200 - placing it above the premium adverts at 199. I was going to put it on at 199, but changed due to my EA's advice.

Melaniep101

Grenage wrote: »

While 'stupid' is a bit harsh, he's not wrong. We put our house on the market at 200, which made it top of the list for anyone searching up to 200 - placing it above the premium adverts at 199. I was going to put it on at 199, but changed due to my EA's advice.

Maybe so, my point is that there wasn't any chance that I would accept an offer £30k below what I'd like to achieve. Whether my EA is "stupid" or not, we're getting viewings and interest. I would be "stupid" to accept an offer that is way below our asking price, I'm sure that either makes me an "unrealistic seller" or financially savvy.. I guess time will tell.

jacko74

Always still worth looking and offering... I've got a budget of around £110k and a property came up earlier this year in my search area at £129k, so obviously I didn't pursue any interest in it, after a couple of months it was reduced to £125k, still well out of my price range, after a few more weeks it sold and was taken off the market.

I've just spotted the sold price the other day on houseprice.io £97.5k!!

Although I seem to only come across the stubborn, intransigent sellers who are only willing to accept offers that are 99.99% of the asking price!

class2ldn

We are near gatwick amd trying to get a discount on a house round here is next to impossible. We got 4k off the one we've offered on. Got gazumped last weekend by 10k on a property. Unfortunately where we are the houses don't hang about. People just give the asking price or more. If you're in tge south East I doubt you'll get anywhere near 10k off let alone more.

chelseablue

class2ldn wrote: »

We are near gatwick amd trying to get a discount on a house round here is next to impossible. We got 4k off the one we've offered on. Got gazumped last weekend by 10k on a property. Unfortunately where we are the houses don't hang about. People just give the asking price or more. If you're in tge south East I doubt you'll get anywhere near 10k off let alone more.

How depressing! Just have to keep saving I guess and hope by the time we've saved up another 20 grand the house we want hasn't gone up a ridiculous amount!

ukcarper

I'd say it's definitely worth looking I know a few people who have sold recently and they have all accepted less than asking price. This is in the south east

firebird082

In my experience last year, any estate agents that you are registered with will add another 15% on to what you say you can afford anyway, so don't up your max value to an EA, otherwise you will get stuff that's definitely out of your league!

Landofwood

Melaniep101 wrote: »

Yep, I expect you're more qualified to comment than my EA who lives and breathes the local market/property prices...:cool:

Absolutely I am. Your Estate Agent still thinks it's the 1990s, when properties were sold in the window of their shop, and a price beginning with 3 is psychologically more attractive than a price beginning with 4.

Is the same Estate Agent also doing your viewings? I wonder how "outdated" their sales patter is?

Anyway, clearly your property has been marketed and priced correctly. That's why it sold so quickly. Oh.