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Will anybody pay £40k more on house that sold for £295k 8 months ago?
nicknameless
Posts: 1,126 Forumite
Am I just naive? Who is taking the **** here - vendor or EA. Why sell after 8 months? Estate agent has a few 'overpriced' sticky properties on books.
https://www.rightmove.co.uk/properties/112091723#/?channel=RES_BUY
What's the game here?
https://www.rightmove.co.uk/properties/112091723#/?channel=RES_BUY
What's the game here?
0
Comments
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Greed from both sidedMortgage started August 2020 £69,700
Mortgage ends Aug 2050 MFW: Aug 2027
Current Balance: £58,678
MFW2020 #156 £723.13
MFW2021 #26 £1184.71
MFW2022 #11 £197.87
MFW2023 £785
MFW 2024 £528.15Determined to make it!0 -
Could be 1001 reasons why selling.
Have prices gone up in that area? They have in many others. My previous house price rose by around a £100k each year for 3 years.
Have they done work to the property? Unless you have a time machine, it's not always so relevant what it was up for. It's what price it might be able to fetch now. If little competition, someone may be prepared to pay a premium.
Perhaps the EA values high. Maybe that's why sellers are tempted to use them. Not that it means they'll sell at that price... Or perhaps the sellers are looking to recoup costs and testing the market.
2024 wins: *must start comping again!*1 -
No work done. Prices haven't gone up nearly 15% in 8 months. Trying to hook a fish.0
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So either they get a bite or not.nicknameless said:No work done. Prices haven't gone up nearly 15% in 8 months. Trying to hook a fish.
Feel like I'm missing your point. This happens all the time by deluded sellers. They're prob just attempting to try to claw money back as they're having to sell (for whatever reason - divorce, job loss, moving near sick parent, new job, who knows!).
More often than not it's the seller's decision what price to advertise at.2024 wins: *must start comping again!*3 -
Looks in a good condition.
can ask the agent why seller is selling.
Prices have increased drastically from 2020 to now.They have either done some works, got it below market value or trying their luck.1 -
Also, you are comparing the current price at which the property is being offered with the previous price at completion. Usually, sales take place at some percentage below the offer price.No reliance should be placed on the above! Absolutely none, do you hear?2
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I can't see the 2020 listing so it's hard to see if anything substantial has been done in the last 8 months. From the look of it in the current listing I'd guess not.
Since the previous listing doesn't appear to be available maybe it was a private sale at a discount to a family member and they're selling it on at market rate. How does it compare to other 4 bed semis in the area?1 -
One of my previous properties rose by £80k in 18 months.
Depends on markets, condition, number of sellers and buyers, etc. There's no blanket rule and it isn't always 'greed'. Sometimes it's just timing...1 -
No I categorically wouldn't.
nice house though.
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Yep that looks a fair asking price. Good luck to the vendors.1
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