for those with there house for sale how low are the silly offers coming in at ?

van_persie

A friend sold his house in Northampton recently, after 18 months on the market. Initial asking price, 135K. He gratefully took 115K 3 months ago. About a year ago, his neighbour marketted his identical property for 135K, too and received an offer of 128K a matter of weeks later. He turned it down, believing a better offer would come along. It didn't. He's now receiving offers NOT GREATER THAN 105K. His greed and denial cost him and he's now chasing a falling market down.

The bull run is over. The bubble has popped. Get used to it and negotiate NOW before you lose more equity next year...

Conrad

Biggie wrote: »

These DooM Mongers are ruining this forum.

You really have to question that lack of intelligence in your statement here.

Why do you associate lower prices with DOOM?

Who benefits by rising prices? (think this through carefully and keep in mind if yours goes up 50% then so does the bigger one you want to move to)

Who benefits by falling prices? (could it be the most needy with the least capital?)

johnny_storm

LizzieandThomas wrote: »

have heard from a few friends who have had really low offers and i have too, ok so the market is slow but what makes people think we will give our house away !!!!!!

im on at 140k (under recommended price), been on 4 days and got a stupid offer of 115k !!!!!!

I suppose given that you say you bought it 4 years ago, probably for around £100k, you could say (from the buyers perspective)

"What makes her think we'll give her 40k more than what she paid for it?"

Im sure you'd agree that you havent made any changes to your property that has raised its value so much?

Any property is only worth what someone will pay for it, and it might be that in 6 months time that someone might offer you only £105k. At which point you will be kicking yourself for not accepting £115k, but from the sound of it you are under no pressure to move anyway.

Good luck whatever you decide.

van_persie

Conrad wrote: »

You really have to question that lack of intelligence in your statement here.

Why do you associate lower prices with DOOM?

Who benefits by rising prices? (think this through carefully and keep in mind if yours goes up 50% then so does the bigger one you want to move to)

Who benefits by falling prices? (could it be the most needy with the least capital?)

Well said, that man. At last some sense. :T

LizzieandThomas

Im upset by the fact i have come across the wrong way.

Im aware the markert is bad hence the reason i have put it on below valuation , a house 3 doors down went through 5k more than im asking and needed lots doing to it - my has been refurbished throughout and is all in keeping with the property (am in a cottage). I have in the past worked as an ea for a short time so im fully aware that people will chance offer - when we recieved the offer we was not annoyed just thought "you cant blame them for trying" and yes im sure out there they may be someone desperate enough to see for such a low price (in our market) but that person is not me.
Good luck to the lady who offered on my house - if she is fortunate to get someone down on price like that then good for her but i wont be budging that low.

will be off out soon and will pop back on later tonight, as i said im just curious to see how much below asking price people have benn offered/sold for.

Gillibobs

Our flat was originally put on the market back in early August for £195k. We eventually dropped the price to £192k 2 months later as we hardly had any viewers. By doing that we got a lot more through the door and eventually had an offer of £188k. We accepted but they dropped out 2 weeks later (FTB's) Within two weeks of being back in the market, in mid November we received another offer for the same price £188k which we were happy with and now everything is (hopefully) going through ok!

Merton

LizzieandThomas wrote: »

i dont think i will bother on here again. Thanks to those who have actually bothered to answer the question in hand and those who have not been !!!!!!.

i was not after advice on what to do with my offer - i know what i will do and what im willing to sell for.

I will wait if needed i just put my house up for sale now so ididnt have to pay for a hip .

If I was looking for a property I would ignore any that obviously tried to avoid paying for a hip - what are you trying to hide? It gives the impression of grabbing as much as you possibly can for your property without paying out a minimal amount for a hip. You see how that comes over? Buyers are getting good at making the market work for them and that means paying less and taking on less debt. About time eh??!

van_persie

LizzieandThomas wrote: »

Im upset by the fact i have come across the wrong way.

Im aware the markert is bad hence the reason i have put it on below valuation , a house 3 doors down went through 5k more than im asking and needed lots doing to it - my has been refurbished throughout and is all in keeping with the property (am in a cottage). I have in the past worked as an ea for a short time so im fully aware that people will chance offer - when we recieved the offer we was not annoyed just thought "you cant blame them for trying" and yes im sure out there they may be someone desperate enough to see for such a low price (in our market) but that person is not me.
Good luck to the lady who offered on my house - if she is fortunate to get someone down on price like that then good for her but i wont be budging that low.

will be off out soon and will pop back on later tonight, as i said im just curious to see how much below asking price people have benn offered/sold for.

Firstly, was your experience as an EA during the past 10 years? If so, you won't know what it's like selling in a buyer's market. A good EA will encourage vendors to accept offers, aware that they need to sustain volume of sales.

Your statement about 'not budging that low' suggests you have a choice in the matter; as if by waiting you'll get your price. Chances are, you won't. So be prepared to stay in your house and not move at all. Or drop your price.

Good luck.

guyrulius

johnny_storm wrote: »

Any property is only worth what someone will pay for it,

True, up to a point. In reality a house is worth what a mortgage lender is prepared to lend and that is less now than 3 months ago.

van_persie

Merton wrote: »

If I was looking for a property I would ignore any that obviously tried to avoid paying for a hip - what are you trying to hide? It gives the impression of grabbing as much as you possibly can for your property without paying out a minimal amount for a hip. You see how that comes over? Buyers are getting good at making the market work for them and that means paying less and taking on less debt. About time eh??!

Agreed. Paying 500 quid for a HIP is a piddle in the ocean compare to the losses vendors will be making if they don't accept offers...