house prices

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At the moment around here everything is snapped up full asking price. Prices are going up quite a bit (about 15% in 2 years) as a result.

I would say set the price at what will get them along to view and then be fairly hard on the negotiations.

If you have a few interested be tough. If you only have one bite, do what you need to hold them.
 

Brains

Legendary Member
Location
Greenwich
I think I did actually do that when I bought my house. I was tricked by the estate agent who told me that there'd been an offer over the asking price, but omitted to tell me that the off had subsequently been withdrawn. So I put an offer in above the offer that I thought was still in the table! Doh!

Rule One of House buying:
Remember the Estate Agent works for the SELLER.
 

summerdays

Cycling in the sun
Location
Bristol
A friend has spent the last year looking and everything the offered on went immediately and at full price or above. Though I think the market here has calmed down now.
 

swee'pea99

Legendary Member
What's the current "norm" or etiquette for offering on a house? Is it standard practice to go in low? How low would you think was cheeky?
We're selling an apartment, well below market value because it needs work doing, but people keep offering atleast 10%under the asking price and seem surprised the asking price is the asking price!
You're going to say its just me aren't you?
The answer to your question is there is no one 'norm'. It depends on where you are. Some places are still sellers' markets, others are flat as piss on a plate. The only thing really that's in your control is to present what you're offering in the best possible way. If I were in your position I'd grit my teeth and spend a few hours watching some 'House Doctor' type stuff on YouTube


View: https://m.youtube.com/watch?v=7vqwZLO9DZY
and get stuck in. Good luck.
 

Cuchilo

Prize winning member X2
Location
London
I paid full asking price for my place but after having looked at all the other places on offer it was well worth it . It had just come back on the market so I snapped it up :smile:
The west wing needed a little work but the other three wings and the main hall where fine . I fear there may be a little dry rot in the gate house though .
 
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Sandra6

Sandra6

Veteran
Location
Cumbria
Maybe it's Workington, no offence but that's a right shíthole.
Close, its wigton ;-)

150 grand for an apartment, that's a lot for Cumbria ! House prices around me just north of Penrith are stagnant. Our house has lost about 30 grand in the last 4 years, maybe the asking price is a tad high?

Shaun
Where did you get£150k from?? Its on at £55000, and {whispers} we've just had an offer of £54000. I'm not getting too excited because we've been here before and things went pear shaped.
Thanks for the viewpoints.
 

Archie_tect

De Skieven Architek... aka Penfold + Horace
Location
Northumberland
You could buy three whole streets in Wigton or Aspatria for £55,000...
 

midlife

Guru
Sorry, I thought you had knocked 10% / £15000 off the price because of the work it needed doing. Must have misread your post ....

Shaun
 

brand

Guest
What's the current "norm" or etiquette for offering on a house? Is it standard practice to go in low? How low would you think was cheeky?
We're selling an apartment, well below market value because it needs work doing, but people keep offering atleast 10%under the asking price and seem surprised the asking price is the asking price!
You're going to say its just me aren't you?

You should have added a bit above what you wanted. A silly mistake as virtually everyone who will be buying yours will have had to lower theirs. We are in that type of market... well you are.
Why are you calling it an apartment? Is that posh name for a flat?
 

ColinJ

Puzzle game procrastinator!
Wrong! The estate agents works for themselves.
Indeed ... When my sisters and I were selling our late mum's house we discovered that the agent was telling all prospective buyers that we were in a hurry to sell and would take £20k less than we were asking for. It turned out that he did this with all his sales. He tried to achieve a rapid turnover for himself, rather than maximum price for the sellers.

We dumped him when we found out, and a different agent got us about £13k more than the original agent had been trying to unload the house at. It would have been £15k but the buyer did a dirty on us at the last possible moment. (We had pointed out a small patch of damp on one wall behind a sofa and his offer was based on the house as seen INCLUDING THAT DAMP WALL, but he brought that up the day before exchange of contracts and demanded a £2k reduction. We wanted the sale to go ahead so we reluctantly agreed but it left a bad taste in the mouth.)
 
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Sandra6

Sandra6

Veteran
Location
Cumbria
[QUOTE="brand, post: 3569252, member: 35529"
Why are you calling it an apartment? Is that posh name for a flat?[/QUOTE]
Yes. But it is much posher than a flat! Georgian doncha know.
 
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