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How much would you reduce the asking price for house?

(9 Posts)
FGSholdthedoor Thu 09-Nov-17 21:00:12

Sorry if a bit random but having a debate with DF.
Trying to decide wether someone is "having a joke".

If you had a house valued at 175k but you tried selling it for 200k and had one offer that fell through and apart from that not much interest in 2 years it's been on the market for AND you were pretty much ready to move and had your eye on the property you wanted (cheaper as downsizing) how much would you be willing to let it go for based on prices above?

If it helps the property is in very good shape but a bit dated so would need quite a bit spending on it over the years to bring it to personal preference/standard however it's perfectly fine to move into as it is.

scissormister Thu 09-Nov-17 21:17:04

2 years with no interest is a message, I'd say.

Ecureuil Thu 09-Nov-17 21:18:35

Based on the fact that estate agents often Uber value id probably let it go for £170k

Ecureuil Thu 09-Nov-17 21:22:09

*over value

JoJoSM2 Fri 10-Nov-17 08:54:38

Was 175k an estate agent’s suggestion to the get the house on the books? Then 160k is probably realistic if someone is motivated to move. However, some people can be a bit deluded with regards to the value of their property.

sooperdooper Fri 10-Nov-17 09:01:05

If it was valued at £175k even if someone offered over that their survey would value it as the same and they'd no doubt drop their offer

Two years is a long time for it to be on the market, I think it needs dropping to £175k but be prepared to accept £165k - £170k

KitKat1985 Fri 10-Nov-17 09:18:20

Well, firstly I'd say if it has been on the market for 2 years then it needs revaluing. The market will have changed in 2 years and a lot of areas have seen price drops in the past year, so the valuation for it now may well be less than the 175k it was originally valued at.

The fact it hasn't shifted in 2 years when it's been in pretty good condition is really screaming that asking 200k for it is massively unrealistic.

But assuming the house is still valued at 175k, if I really wanted to shift it quick and was downsizing I'd put 165k as the guide price, and accept an offer in the region of 160-165k.

SilverSpot Fri 10-Nov-17 09:22:59

I agree with @KitKat1985

The sellers are in LaLa land!

SadClown Fri 10-Nov-17 10:01:31

I also agree with kit Kat, I'd put it on at 160, given what you've said then the seller really doesn't want to sell, especially if they've supposedly got their eye on something.

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