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Anyone sold above asking price in SE Englandrecently?

9 replies

Mamathulu · 20/09/2011 15:24

Just had 1st estate agent round - very nice and everything, but wants to put it on for 200 and only accept 210/215 for it - says it will get people looking and once they've looked they'll outbid each other for it? Not too sure if this isn't bollocks-speak for 'it's not all that, and we'll put it on 25 lower than you actually want for it, and we'll persuade you to drop that when no-one bites." All a bit bemusing really. How honest are EA's, as a rule?

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Mamathulu · 20/09/2011 15:25

oh, not that we actually want 225 for it, is what I meant, just that I think that's what he thinks we want?

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alabamawurley · 20/09/2011 20:26

In answer to your last question: Not very. And I think you've hit the nail on the head with your analysis - if people were really likely to be outbidding each other, do you really think it needs to be 25K lower to get them interested? I've got to say (having worked in the industry previously) that they sound particularly stupid (even by EA standards!) - although they get top marks for creativity! Find another EA and don't waste any more time with this one. Be realistic in your pricing (sounds like you are) and it'll sell. Hope it works out.

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drcrab · 20/09/2011 21:48

We're in Kent. We've sold after 6 weeks, then buyer pulled out coz chain took long time to complete. Then sold again in 2 weeks. All for a couple of thousand below asking price. Which was good. We also offered a couple of thousand below the asking for our new house. All fine. I think you need to price it such that people will see it when they look on the computer, and also think it's reasonable.

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SparklePrincess · 21/09/2011 11:50

I am in the SE. It's rare in this market for anyone to offer over the asking price tbh. If you put the house on at 200k you'll be getting offers under 190k. My house was on at offers between 190k & 210k & I accepted 187k. Reasonable under the current market conditions but 8k under what I paid for it less than 3 years ago.

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BehindLockNumberNine · 21/09/2011 22:27

Does 13 months ago count as recently?

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PanicMode · 22/09/2011 07:59

It does happen if you are in an outstanding catchment. House here (Kent) on for 525k ended up going for significantly over 600k after a bidding war due to it being in the catchment of an outstanding school.....it can happen!

And there was that house in the Cotswolds recently that went for about £4.5 MILLION over asking because two bankers both wanted it and didn't want to blink first - same world, different planet

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chandellina · 22/09/2011 09:07

i bought recently at around a 5% discount on asking which i thought was a very good price for the vendor. Most things I was looking at I would have offered at least 10% below asking but this house had a lot going for it.

There was one other place we bid on which did go for more than asking - it went to sealed bids but it was a renovation project and it really was priced to sell after having been on the market earlier for a headline price of £60k more. (and a failed sale at a much lower point that helped center the vendor's mind)

the biggest thing is to make sure it's priced inline with other stuff up for sale in the areas and/or recent sales recorded on the land registry. I see some crazy prices in my area where the vendor is just taking the piss/hoping to get lucky.

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Mamathulu · 22/09/2011 10:47

It's just really difficult to tell - zoopla has it rated at 240 - it's only a 3 bed maisonette, but has a field at the back, 10 mins walk from station and town, lovely views, but anyone buying it would probably want to do quite a bit of work to it - although my wonderful DH has replaced all the floors with laminate, done the bathroom and decorated everywhere, he hasn't had the time to finish it all off, so there's lots of little 'bits' to do. You can see the building here. The right half is a nursing home, we're the top left two floors. Rights to the field, agreed off street parking space, but the building and the hall are looking very neglected.

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Mamathulu · 22/09/2011 10:51

Yeah, chandelina, what you describe for your second one is more like it - it was on for 225 in 2008, and I think it was heavily overpriced by an agent who was a friend of my mum's, who I don't think did us many favours by doing that. There's a ground floor 3 bed flat, with a much smaller kitchen and bathroom, (and no field) on the same road for 170. A purpose built needing doing up next door went for 200 recently, but there's a 2 bed opposite (again, no field, going for 230. So, REALLY difficult to gauge I think. But I want to get it right - I WANT TO MOVE THIS TIME!!!