When to reduce a sale price - NW Lancashire

Albermarle

Have you considered an auction?  If you decide to go down that route - always check in detail their costs if sold and costs if remain unsold, and reserve prices. I watch a lot of Homes Under The Hammer - and at times the properties sold in London, often go for the preice IMO of what they may have sold via an EA, but, I've never bought or sold via auction, so check prices and T&C's

What you see in that programme will be highly selective.
I guess most of the footage is never seen, and/or people don't want their business being broadcast.
Or is too boring or a disaster.

surreyworries

Thanks again, all. @Bigphil1474 - it’s a guess and would have course depend on quality of fit and finish. The property is solid, very large (approx 4k square feet), never had central heating (relies on fires and storage heaters), one bathroom for six bedrooms, kitchen unchanged since the 50s, with an AGA that is 55 years old and so on. It’s very Brontë, but absolutely possible to live in. It’s a really good point as to how the price could possibly have been right, four short weeks ago. 

Albermarle

surreyworries said:

Thanks again, all. @Bigphil1474 - it’s a guess and would have course depend on quality of fit and finish. The property is solid, very large (approx 4k square feet), never had central heating (relies on fires and storage heaters), one bathroom for six bedrooms, kitchen unchanged since the 50s, with an AGA that is 55 years old and so on. It’s very Brontë, but absolutely possible to live in. It’s a really good point as to how the price could possibly have been right, four short weeks ago. 

You still have not said where that £200K renovations figure came from . From what you say above it sounds like it needs more of a significant upgrade than a big renovation, which should cost less than £200K .

youth_leader

Do be careful with your old Aga @surreyworries.  My friend's parents had a similarly aged Aga and during the night her Mum smelled burning ... they'd recently agreed to have the 'additive' added to their oil.  Her Mum was half asleep, tripped over the hall carpet, and fell through the not safety glass kitchen door.  Cut everywhere except her juglar thank heavens.  Her screams woke her husband and when he got downstairs the Aga was smoking and the plasterboard above it was smouldering.  Scary stuff.  I used to be nervous with the sooting up of ours and stopped having the additive.

ReadySteadyPop

surreyworries said:

Thanks again, all. @Bigphil1474 - it’s a guess and would have course depend on quality of fit and finish. The property is solid, very large (approx 4k square feet), never had central heating (relies on fires and storage heaters), one bathroom for six bedrooms, kitchen unchanged since the 50s, with an AGA that is 55 years old and so on. It’s very Brontë, but absolutely possible to live in. It’s a really good point as to how the price could possibly have been right, four short weeks ago. 

Initial price will be the EA getting you on to their books, they will try to reduce it later if there is little interest.