Selling a house. Price tips needed!

Sporky

@Emp_Fab - any interest in trades? I've got three garden sheds - one metal, a bit scruffy, two wood, one has the original doors still, and a mouldy caravan.

Fretwired

Sporky said:

@Emp_Fab - any interest in trades? I've got three garden sheds - one metal, a bit scruffy, two wood, one has the original doors still, and a mouldy caravan.

He's into flooring ... I have a complete set of Marley Flooring catalogues from 1971 to 2016 .. must be worth about £180K.

PolarityMan

If you price it at 199999.99 it will trick people into thinking it's cheaper that the comparable properties you mentioned. That's psychology innit.

guitars4you

Emp_Fab said:

I've finally got my late mum's house up for sale.  The estate agent suggested we list it for £200K.  It's had two viewings and one firm offer... of 175.  It needs a fair bit of modernising but similar houses in the area that are in better nick are going for between 220 and 235.

No way am I taking 175.  That was probably a builder chancing his arm for a quick profit as a doer-upper.

So, who has sold houses ?  If the agent reckons it's worth 200 why is she now ringing me asking what my lowest price would be?

Has anyone got any tips on how to decide on what offer to accept?  As you can tell, I've not done this before!

Not sure where you live and how many estate agents in your town - But they aren't really fussed about the actual selling price - More worried about getting the house on the market with themselves and once that is achieved they just want the sale/commission be it £175K or £200K - they will generally slightly overvalue to get the house on their books and any sale is their payment/cut

Not sure how many estate agents viewed and valued the house and as such what other valuations you had - But I dare say this is what influenced you to pick the agent you have

Then again natures natural greed is once someone tells you it is worth £200K then 175K is perceived as an insult - If you where told it was only worth £175K in the first place then that is what you'd have accepted - Don't mean that in a mercenary way just more of human logic

A local one man builder/developer will always chance his arm - My gut feeling is to wait and see for 2/3 months - I don't see any reason why the market will go up/down in the next 2/3 months so sit and wait and discuss a sensible offer if 190/195K comes in

If the agent suggests £175 is  a good offer then I'd ask them why they suggested £200K in the first place and as a matter of principal place it on with another agent at 180/190K so your current agent does not benefit from miss-leading info

JezWynd

Give a couple of weeks before you make any decision. If similar properties in your area are going for 220 - 235, then you could probably realise 195 - 205 even with the work to be done. We've just sold a property (similar circumstances) and got 10k over the asking price.

Emp_Fab

Thanks lads.  I'll see how it pans out over the coming weeks.

strtdv

The estate agent is ringing you because they want to sell quickly to get money from you.

Put it at £199k asking price (looks better than 200k), and take anything over £190k for it.
(assuming you're not in a hurry, the housing market seems to be slowing down and you'll probably need to wait for a while to shift it unless you put it on for silly cheap)