Is it worth looking at houses over budget?

Melaniep101

Landofwood wrote: »

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

Err, it did sell quickly at asking price as per my earlier post. And it's only been on again since Friday and we had an offer (albeit too low) on Monday.

Mrs_Soup

We had a budget of around 350000 so agents sent us stuff from 275000 to 375000. We bought at 355000 on an asking price of 365000. Also South east but about 6 years ago.

cns06

At £360k I would be looking at houses up to around £390k. BUT I would be targeting houses that have been on the market over 6 months, ideally 12 months +. These are the properties which are over priced and you might get a deal on. As said above you will need to be very cautious that you don't get the rug pulled from under you prior to exchange.

pickles13

The house we just completed on wasn't over budget but was over what we had wanted to pay for any house if that makes sense! We still came to look at it and it just so happened that the vendor had found a house she really wanted to offer on on that same day so accepted our offer!

Landofwood

Melaniep101 wrote: »

Err, it did sell quickly at asking price as per my earlier post. And it's only been on again since Friday and we had an offer (albeit too low) on Monday.

How can you sell a house and then be selling it again? A house is sold when you exchange contracts.

You haven't yet found a buyer.

Melaniep101

Landofwood wrote: »

How can you sell a house and then be selling it again? A house is sold when you exchange contracts.

You haven't yet found a buyer.

Yawn... bored of your pettiness and digs about my house selling situation.

Landofwood

Melaniep101 wrote: »

Yawn... bored of your pettiness and digs about my house selling situation.

Learn to take advice better, and people won't react.

harz99

Melaniep101 wrote: »

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.

It will. For most areas EAs market at 8-10% above the achievable price.


So in reality, at your price point, that £30k below offer isn't far out unless you have an absolutely super duper house everyone is clamouring to buy.


I have relatives who refused a similar percentage drop offer and then waited 17 months to finally sell at below what that offer was. Similarly I have a very close relative who was marketing at the EAs suggested price of £425k and getting nowhere, on my advice she dropped to £400k and sold within two weeks at £385k.


If you really do want to sell, I hope you don't come to regret turning down that offer.


Good luck.

Voiren

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.

This depends how you use Rightmove, surely? I tell it to sort results from low priced to high, so that house would show up before the £400k ones.

getmore4less

https://forums.moneysavingexpert.com/discussion/5293019

Sold into a 7 house chain and blaming their own solicitor for the failure after 4months.