House selling price Vs Sale Price
Discussion
in the midst of selling my house at the moment, curious to see how much do people on average accept less than the selling price.
keep being told ooh market is slow at the moment and things like that, but wondering what the rates are like and what people have found.
wondering how rude i can go on placing offers on houses mainly. :-)
keep being told ooh market is slow at the moment and things like that, but wondering what the rates are like and what people have found.
wondering how rude i can go on placing offers on houses mainly. :-)
As you are selling yours, how much lower would you accept?
It usually depends on the buyers situation, if you just have yours on the market then it gives you less bargaining power, if your's in under offer to a FTB or a short chain then you are in a good position to negotiate.
Adrian
It usually depends on the buyers situation, if you just have yours on the market then it gives you less bargaining power, if your's in under offer to a FTB or a short chain then you are in a good position to negotiate.
Adrian
All it boils down to is a trade-off between the following:
(a) How realistically priced is the property? (you'll have to do your homework to determine this one)
(b) How desperate is the vendor to sell?
(c) How strong is your offer? (e.g. no chain, cash purchase etc)
As has been noted, if you're selling - think about how low you'd be prepared to go, bearing in mind the above points.
(a) How realistically priced is the property? (you'll have to do your homework to determine this one)
(b) How desperate is the vendor to sell?
(c) How strong is your offer? (e.g. no chain, cash purchase etc)
As has been noted, if you're selling - think about how low you'd be prepared to go, bearing in mind the above points.
If possible, sell yours first...Move out......into rented if needed! Then you can command top dollar for yours, as there is no chain and you can move "tomorrow", then you can be as rude as you like on your purchase, as once angin..there is no chain and you could move tomorrow! Pretty much a first time buyer!
chilli said:
If possible, sell yours first...Move out......into rented if needed! Then you can command top dollar for yours, as there is no chain and you can move "tomorrow", then you can be as rude as you like on your purchase, as once angin..there is no chain and you could move tomorrow! Pretty much a first time buyer!
Except you are paying both rent and mortgage. How many months' worth of rent does it take, inc. the inconvenience of moving twice and changing all your addresses, to match the possible loss of selling quickly? Oh, and many house rents you're tied in for 6 months anyway!
If you've a readily-saleable house, this is silly as you won't have to offer much discount, while if you haven't the time and cost of renting will not be worthwhile!
Just selling my house in South Wales at the moment. Had it valued at £119,950 in August and put in on the market at £118,950. Reduced it to £117,500 after a month or so, and got a bit of interest including an offer of £114,000 which was rejected. Then dropped the asking price to £115,950 because I really wanted to sell quickly, which seemed to work as I accepted an offer for £115,500 the very next morning. 
Piglet said:
it suggested that the average discount at the moment is around 7%.
Which, cynically, I would take to mean that the average advertising price is 7% higher than what the properties are worth.
Most agents will give you a "valuation" which consists of a "market at £X" price and a "with a view to selling at £Y" price.
Also, its rare that any 2 agents will value a property exactly the same. Human nature ("greed"
dictates that most (non-pro) vendors go for the highest valuation rather than a pragmatic average. In fact, you'd be better to get, say, 5 independent valuations, discard the highest & lowest and take the average of the remaining 3. ...and then add on the magic 7% so that you can be persuaded to "drop" the price a bit - you're happy, the buyer's happy, everyone's happy! >> Edited by pdV6 on Tuesday 1st November 13:52
Recently sold my house - asking price was £325K and I accepted an offer at £320K.
House I bought was up for £650K and they accepted £600K.
It obviously depends where you are but if houses are realistically priced they will still sell close to the asking price. I wouldn`t want to discount anything over 5%.
House I bought was up for £650K and they accepted £600K.
It obviously depends where you are but if houses are realistically priced they will still sell close to the asking price. I wouldn`t want to discount anything over 5%.
chilli said:
If possible, sell yours first...Move out......into rented if needed! Then you can command top dollar for yours, as there is no chain and you can move "tomorrow", then you can be as rude as you like on your purchase, as once angin..there is no chain and you could move tomorrow! Pretty much a first time buyer!
worked for me - sold mne last ear for asking prce at top of market. rented room of mate for 10 months and just in process of buying new flat. negotiated 20% off due to no comittments and seller being in hurry
so it can work.... just hav to be patient - ive tracked the market in a speific place for 10 months (and 1 failed purchase as bargained too hard!) to get this far..mr_tony said:
If possible, sell yours first...Move out......into rented if needed! Then you can command top dollar for yours, as there is no chain and you can move "tomorrow", then you can be as rude as you like on your purchase, as once angin..there is no chain and you could move tomorrow! Pretty much a first time buyer!
worked for me - sold mne last ear for asking prce at top of market. rented room of mate for 10 months
The key words there are "off a mate" - try getting a flexible rental term on the open market on a decent size property without either paying over-the-odds or having some nasty termination clauses!
havoc said:
The key words there are "off a mate" - try getting a flexible rental term on the open market on a decent size property without either paying over-the-odds or having some nasty termination clauses!
Absolutely true. Still the old adage rings true - it's who you know etc etc ....
Given the demographic of much of this site its an option which is probably open to many of us. Of course if you've got a family, then not so easy...
Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff