How to avoid time wasters?

Hagazussa

I never said I would not negotiate, but 12.5% less is not a base for negotiation.
Plus: There is no "Work" to be done as such, we only assumed people might want a newer kitchen. That's what we considered when we priced it.
Our area has actually seen a rise, as I mentioned before. I am not naive. This is not the only house we own. Worst case scenario and before I sell it for pennies, I let it out to people who can't afford to buy. It's not only a buyer's market, but hard to get credit, too. Remortgage it into buy to let, get a new mortgage for a different house, now how naive is that?

NickDurham

newcook wrote: »

and yet a few more miles up the road in sunny scotland they have it as 'offers above'.

And? Doesn't change the fact that in the English system with the English market as it is, an offer of 105k on an asking price of 120k is perfectly normal and IMO reasonable as a starting offer.

NickDurham

Hagazussa wrote: »

I never said I would not negotiate, but 12.5% less is not a base for negotiation.
Plus: There is no "Work" to be done as such, we only assumed people might want a newer kitchen. That's what we considered when we priced it.
Our area has actually seen a rise, as I mentioned before. I am not naive. This is not the only house we own. Worst case scenario and before I sell it for pennies, I let it out to people who can't afford to buy. It's not only a buyer's market, but hard to get credit, too. Remorgage it into buy to let, get a new mortgage for a different house, now how naive is that?

12.5% is what the vast majority of people - sellers and buys - would indeed consider a base for negotiation, whatever you may think. I think you WERE naive in pricing it so low because of a kitchen - 10k to 20k off because people might want a new kitchen?? !!!!!!? If you wanted 120k, you should have put it on for 130k-140k. I never said you were naive as a person in general, but with regards to what you expected to be offered and get for your house, I think you have been. Sorry!

Hagazussa

Sorry, but I disagree on that.

LandyAndy

I just looked again at the rightmove details. Would be a lot better if you'd tidied up all the clutter in the kitchen and bathroom.

NickDurham

I've just never heard of someone pricing a house at 15k less than what houses are going for because buyers *might* want a new kitchen. What sort of kitchen would they want?? A gold-plated one? :rotfl:

Fred1_2

LandyAndy wrote: »

I just looked again at the rightmove details. Would be a lot better if you'd tidied up all the clutter in the kitchen and bathroom.

looks fine to me, but i have 3 kids so I know what real clutter is

That looks like laminate flooring in the child's bedroom though. That would put me off.

If that house were on the market in this area at £120k, it would go in a day (I'd buy the damn thing given half a chance). But it's not in this area, so unless it's priced ridiculously cheap, it won;t go quickly. I would expect opening offers of 15% to 10% below the asking price in the current market. If you want to sell quickly, you have to seriously entertain any offer of 90% of the asking price or above.

People believe all property is 1) overpriced and 2) going to be on the market for a long time and when it comes to property prices, perception is reality. Although I don't like overpricing, if you really wanted to achieve £120k, you should have put it on the market for £130k to £135k. Of course, you may not have got the 2 viewings you did at that price.

Austin_Allegro

brummybloke wrote: »

if everyone keeps their houses at the price they are and refuse to drop in price then it isnt a buyers market at all, it is a sellers market.

How does that work? If sellers refuse to sell and buyers refuse to buy, it's not a market at all!

Buyers aren't buying because 1. they can't afford (borrow) the high amounts required and 2. they don't want to anyway because they are expecting falls in the future.

If all sellers refuse to budge on price, they won't sell anything until:

a. lending loosens up (100% mortages etc become available again or some crackpot scheme like 100 year mortgages starts up) and/or

b. Wages increase.

Neither of which look particularly likely in the near future. Even assuming (a) and/or (b) happen in the next few months, it's possible there will have been forced sales (repossessions etc) of those sellers refusing to budge on price, thus setting the precedent for lower prices all round.

I understand it's not a pretty picture for sellers but I don't think being unrealistic with offers which are only about 12% below asking (when the IMF have concluded that UK property is 30% overvalued anyway) is going to help anyone.

LandyAndy

Fred1 wrote: »

looks fine to me, but i have 3 kids so I know what real clutter is

That looks like laminate flooring in the child's bedroom though. That would put me off.

.

Cereal Packets, Mug tree, Teatowel draped over cooker door.

Bath tray and bottles, Tidy bag at side of bath, Shower curtain.

Nothing wrong with this but best omitted from photos for EA's details.

I have kids too, and know clutter;) . The EA should have advised that these things be moved for the photos

neverdespairgirl

newcook wrote: »

you will find a serious buyer and if they want your house to be their home they will pay what its worth

Of course they will pay what it's worth. That might well be £105k, though.