Strange listings...

seradane

Hello,

So this has piqued my curiosity, and I'm wondering if this forum's detective work might shine some light... for full disclosure I'm not looking at buying/selling either of these, I've just seen them in my local market and was baffled.

Listed 28/11 for £315k
https://www.rightmove.co.uk/property-for-sale/property-66682449.html
Listed 4/12 for £425k (since reduced to £400k):
https://www.rightmove.co.uk/property-for-sale/property-66811512.html

As far as I can tell they are identical?? Why on earth would the second one list for almost 100k more expensive when the first one is already on the market? For what possible reason would someone consider spending the higher amount? Both the agents are pretty well-known/frequently used around here so that doesn't shed much light...

Surely there's something going on here that I'm missing...

:huh:

AdrianC

seradane wrote: »

Listed 28/11 for £315
https://www.rightmove.co.uk/property-for-sale/property-66682449.html
Listed 4/12 for £425k (since reduced to £400k):
https://www.rightmove.co.uk/property-for-sale/property-66811512.html

As far as I can tell they are identical??

Cheaper one is listed as end of terrace, has "service charge" (£407/yr) quoted, one allocated parking space.

More expensive is listed as semi-detached, freehold, ex-showhome, two allocated parking spaces. Kitchen worktops look to have been upgraded from laminate to stone. Garden doesn't have flats overlooking. It's chain-free, whereas the other one probably has a chain.

Why on earth would the second one list for almost 100k more expensive when the first one is already on the market?

Simply because they think somebody will pay the premium...

I would suspect they're wrong, but...

xoAmyox

Having found this:

https://www.rightmove.co.uk/property-for-sale/property-66811515.html

The higher price listing for the same house might merely be a way of making this "lifetime lease" look 'cheap'.

seradane

AdrianC wrote: »

Cheaper one is listed as end of terrace, has "service charge" (£407/yr) quoted, one allocated parking space.

More expensive is listed as semi-detached, freehold, ex-showhome, two allocated parking spaces. Kitchen worktops look to have been upgraded from laminate to stone. Garden doesn't have flats overlooking. It's chain-free, whereas the other one probably has a chain.

A house can technically be both freehold and have a service charge, no? Seems odd that two houses from the same development would be classified differently, though if they are then that would certainly make a difference as I know plenty of people who just wouldn't even go look at a leasehold.

Are there really any practical differences between an end terrace and a semi? I would find it difficult to justify paying a premium for the name difference, but then everyone has different priorities! :rotfl:

Aside from the parking, which fair enough is a legitimate difference, the other factors seem pretty negligible, especially when you offset it against the fact the cheaper one appears to have a bigger garden.

xoAmyox wrote: »

Having found this:

https://www.rightmove.co.uk/property-for-sale/property-66811515.html

The higher price listing for the same house might merely be a way of making this "lifetime lease" look 'cheap'.

Hmm, could be! I see those 'over 60s lifetime lease' listings quite a lot, I wonder how many properties sell at the discounted rate vs your standard sale... I guess it does give your vendor access to more potential buyers which is a good thing.

AdrianC

seradane wrote: »

A house can technically be both freehold and have a service charge, no?

Certainly an estate management fee may be due, yes. I was careful with my wording...

Seems odd that two houses from the same development would be classified differently, though if they are then that would certainly make a difference as I know plenty of people who just wouldn't even go look at a leasehold.

It's possible that they were available as lease or with the freehold purchased.

Are there really any practical differences between an end terrace and a semi?

Not to my mind, no, but there's been plenty of threads where people are very upset because next door's extending and it might link-detach to the one next to that...