Feedback Refused

artyboy

ReadySteadyPop said:

rumandcoke said:

Herzlos said:

What's the asking price? We don't know if £15k is a big deal or not. If I was looking for a quick and easy sale, then £15k under from an investor might not be a bad option, assuming we're not talking about a house worth £75k

Any buyer will be looking at their total cost, so factoring in changes they want to make, whether that's functional or cosmetic. 

It's up for £200k. I can't agree to effectively paying for building works that are not vital/essential

In my alternative view of this market it isn`t worth losing the sale for 15k.

Fixed that for you

Herzlos

rumandcoke said:

Herzlos said:

What's the asking price? We don't know if £15k is a big deal or not. If I was looking for a quick and easy sale, then £15k under from an investor might not be a bad option, assuming we're not talking about a house worth £75k

Any buyer will be looking at their total cost, so factoring in changes they want to make, whether that's functional or cosmetic. 

It's up for £200k. I can't agree to effectively paying for building works that are not vital/essential

First, when taking any advice from ReadySteadyPop it's worth noting that he's a notorious price-crash troll who's been banned from here and momsnet multiple times. He was convinced house prices were going to collapse 23 years ago so sold his house, moved into a tiny bedsit and has been claiming on a regular basis that the market is about to collapse any day now and that everyone should drop their asking price automatically. His advice on *everything* is to take whatever you are offered and run, as if he thinks he can drive prices down enough to for his gamble to pay off (but it won't, because they'd need to drop by about 90%). 

In reality, the market is fine with house prices staying strong but transactions being slower. 

Onto your actual post, you need to detach from the 'why' part of the offer as such and just look at the numbers. You think the house is worth £200k, and they think it's worth £185k. They are the first to offer, so you've got to decide if you want to (a) accept it and hope to get things moving quickly, (b) counter-offer something like £192k or (c) reject it outright. Your EA should be able to advise on how successful they think those options might be; they may know that the buyer is at the top of their budget

It's pretty common in England for people to offer about 10% under asking price, which would have been £180k, so you're not doing too badly from there. It's just down to you to decide how quickly you want the sale to happen.  Given your situation I'd be leaning towards getting the sale done quickly. 

Grumpy_chap

Herzlos said:

just look at the numbers. You think the house is worth £200k, and they think it's worth £185k. They are the first to offer, so you've got to decide if you want to (a) accept it and hope to get things moving quickly, (b) counter-offer something like £192k or (c) reject it outright. Your EA should be able to advise on how successful they think those options might be; they may know that the buyer is at the top of their budget

The big piece of information the OP has not yet revealed to the thread is what other houses comparable to the OP's are selling for recently.

If other comparable properties have sold at £150k, then the £185k offer is fantastic - bite their hand off.
If other comparable properties have sold at £200k, then the £185k is on the low side but potentially worth negotiating around and working to seal the deal.
If other comparable properties have sold at £225k, then the £185k is too low.

Importantly, the OP needs to consider actual sold values, not marketed values in that element of the assessment.

DCFC79

Im selling my house and was prepared to listen to the feedback if anything I could change or not.

picklepranks

A more tactful response would have been asking the agent to send the feedback in writing, then carefully filing the email/letter in a folder marked ‘trash’ 

ReadySteadyPop

Grumpy_chap said:

Herzlos said:

just look at the numbers. You think the house is worth £200k, and they think it's worth £185k. They are the first to offer, so you've got to decide if you want to (a) accept it and hope to get things moving quickly, (b) counter-offer something like £192k or (c) reject it outright. Your EA should be able to advise on how successful they think those options might be; they may know that the buyer is at the top of their budget

The big piece of information the OP has not yet revealed to the thread is what other houses comparable to the OP's are selling for recently.

If other comparable properties have sold at £150k, then the £185k offer is fantastic - bite their hand off.
If other comparable properties have sold at £200k, then the £185k is on the low side but potentially worth negotiating around and working to seal the deal.
If other comparable properties have sold at £225k, then the £185k is too low.

Importantly, the OP needs to consider actual sold values, not marketed values in that element of the assessment.

Good advice, and recent sales are better because the market can change over a few months.