Pricing house - what to do

Getting_greyer

Double it and add 30.

hackneylou

GDB2222 said:

The one strategy that doesn’t work, for sure, is overprice the property and watch it languishing on the market whilst gradually reducing the price. 

Very much agree but unfortunately some estate agents will push the strategy of putting it on high "because you never know and you're not in a massive hurry" - as we heard from Dexters. This does lead to the scenario you describe above and in the end I think it harms the final price you get as you lose the initial flurry of interest a new property attracts.    

CRISPIANNE3

We got  6 agents to give us a selling price. They all came in around the same figure. We went with the one who offered a fixed commission and no tie in contract.  They have outlined their strategy including an open house day. To me thats a good way of testing the market with no contract.  Also decided to go for the guide price option.

housebuyer143

user1977 said:

Slinky said:

user1977 said:

Slinky said:

babyblade41 said:

look at comparable properties & what they have actually sold for not what they are selling .

This should give you an indication of a ball park figure 

There's 2 houses completed in our street, one in September, the other the week before Christmas. Neither is showing up on Land Registry data yet. There was a private sale last June which took about 8 months to appear.

Maybe not in the free data, as there's a lag with that, but if the info for a particular property is worth three quid to you, you can download it as soon as the purchase is registered.

But how can you tell when the property has been registered? Does it give a date of latest transfer before you part with your money?

Look up the properties you're talking about at https://www.gov.uk/search-property-information-land-registry and see what they say? I don't know of any examples of recently-sold ones to play with.

So I can see the house I bought sold price, how do I know if the title has been updated?

Noneforit999

We did offers over £350k and the EA was confident we could get £365k+. Ended up with 6 offers and £380k was the one we accepted.

It really depends on the type of house and the area its in. A good EA will know the area/market and will know if your house is likely to attract a lot of interest.