Low asking prices but expecting more

Beeper

How common (and successful) is it to do this?

I’ve seen a few houses where the houses are valued at xxx amount, they advertise for a week or so before allowing viewings, and then when asked about the price/ wriggle room on the price , they say that the vendors are actually expecting more. This has happened three times to me.and it really annoyed me. A friend is looking at a house in the same area and she’s very excited as it’s a nice house and (only just) within her budget. Houses nearby with worse layouts/ less space/ northfacing gardens/ no off street parking etc are marketed at the same price. So I suspect it may be the same thing- bringing in lots of interest and viewings and having the viewings overlap to up the hype. Which I understand to an extent, but don’t you also get the people who really like the house but it’s right at the top end of the budget and or people who think houses are priced high because they expect people to negotiate and so can’t even off the marketed price? Having an estate agent do viewings with those buyers would just be a waste of everyone’s time.

G_M

Prices are not fixed. They are simply indicative.

Sellers will always want the maximum they can get. Buyers will aways want to pay the minimum they can.

It's a negotiation and depends whether there is a lot of demand, or little, and whether there are many other similar properties, or not.

KatieDee

We experienced this while looking for a house. I think for the most part it's just vendors who want to get the most they can from their sale (understandable!) and recognising how keen you are on their home.

We had one vendor tell us he was very negotiable and would consider lower than the advertised price to sell to a "couple like us". We went in with a reasonable offer which he outright refused, then went in incredibly close to asking price and got refused as well, before he came back with "asking price only". We spoke to the estate agent after who practically begged us to make the offer again but by that point we'd lost interest.

We're talking about a couple of thousand here - we are FTB and the house needed a tonne of work doing to it and the reasonable offer we had made was taking this into account. He obviously saw our enthusiasm and thought he'd run with it.

The house is still for sale now and I cannot see it selling in the near future.

I never thought I'd say this but...there are always more houses, and I promise you an even better one is waiting around the corner. It is a business at the end of the day and for some people, getting more money makes more sense than a quicker sale.

Crashy_Time

https://www.theguardian.com/money/2019/jan/17/uk-demand-for-credit-cards-and-mortgages-falling-fast-warns-bofe


This is the only demand that really counts in todays property market, demand for credit. Many sellers are going to have to take what they can get, if they actually want to sell that is.