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Who else is on the market? Any viewings or interest at all? Whya are you selling? and a question about stamp duty

(32 Posts)
conniedescending Thu 18-Sep-08 10:48:07

House has been on for 4 months now, we had had one viewing in first week it went on and have another just booked for sunday (downsizer with cash apparently).

we are selling because we cant afford the mortgage now

now stamp duty has been abolished on houses under 175k we were wondering whether to just drop the price to 174,999 (we fall in between the 175 and 250 bracket) - or maybe to offer to pay the stamp duty??

conniedescending Thu 18-Sep-08 11:30:26


or is it just me on rightmove grin

Jampot Thu 18-Sep-08 11:39:58

well how much is it on for?

Dropdeadfred Thu 18-Sep-08 11:40:11

how much of a drop would that be? perhaps you could subtly suggest that your price is negotiable when they view, but don't be specific?

conniedescending Thu 18-Sep-08 11:42:01

its on at 215k the plan was to drop to 200k until the stamp duty announcement

we can afford to go as low as 174,999 but no lower

Dropdeadfred Thu 18-Sep-08 11:45:27

you are sugesting dropping 40k straight away...if you drop the price people will then offer under that...leave the price but say O.N.O.....?

onceinalifetime Thu 18-Sep-08 11:46:53

What about £199,950 and you'll probably get an offer about the £175k mark anyway.

PerkinWarbeck Thu 18-Sep-08 11:48:06

flat went on the market in July. had viewings most days for 2 weeks, then asking price offer.

we exchanged on Mon, hope to complete a week tomorrow.

things are still selling, but at the right price. similar flats to ours are still being marketed at £20k more than they were selling for last year. and then people wonder why they're not selling.

BTW, we sold at £185k, so just over the stamp duty threshold.

onceinalifetime Thu 18-Sep-08 11:49:30

Congratulations PW, where are you?

PerkinWarbeck Thu 18-Sep-08 11:49:58

agree about how you perhaps changing how you market the property. we needed a quick sale, so went for offers in excess of £179k, to give buyers a clearer idea of our position. not ideal, but perhaps a strategey to try given that you really need to sell.

PerkinWarbeck Thu 18-Sep-08 11:50:59

Onceinalifetime, we're in Peckham, south London. not exactly a sought after area wink.

platypussy Thu 18-Sep-08 11:56:04

House been on sale for 6 weeks. Had two viewings in the first 2 weeks. Neither were in a position to move/offer because unable to sell their current homes. We would go into rented if we could sell. We want to move to the area in which dd wants to go to uni (she would like to live at home). Dh and I already travel to work to that area anyway so would make sense to move there, but nothing seems to be selling at the moment.

cthea Thu 18-Sep-08 12:01:05

On the market for 5 months, approx. 1 viewing a week, ocassionally 2. Dropped the price by 80K but we're still here.

PerkinWarbeck Thu 18-Sep-08 12:02:54

I've just re-read my posts, and they sound a bit smug blush. that wasn't what I intend. rather, I was trying to say that despite the doom and gloom, I'm sure that you will be able to sell, as there are still buyers out there (albeit looking for a bargain).

wombleprincess Thu 18-Sep-08 12:14:30

sold for 2.5k more than we budgeted for, but 12.5k than the agent recommended we put it on the market for. we put a lot of blood sweat and tears into the property, we practically rebuilt it, so anything lower than that would have broken my heart.

sorry for all of you who havent sold yet. i can remember the stress when one of our offers fell through and when we had initial viewings etc and wouldnt have liked that to have gone on for much longer than it did. you feel very out of control.

wouldnt put it on for 174999 as people will offer below it and mentally i think they like to think they have got a discount, but your estate agent should know that you are willing to go that low..

conniedescending Thu 18-Sep-08 13:21:15

you give me hope perkin!!!

ok - will keep it as it is for this next viewing and then reassess. The last viewer we had was in a position to buy and said he liked our property but it wasn't in the village he really wanted to live in hmm

singingtree Thu 18-Sep-08 13:29:41

Complete hijack but - PerkinWarbeck I went to the Coram foundling museum yesterday and clocked the origin of your name. They were taking the piss somewhat calling those poor kids Walter Raleigh and Geoffrey Chaucer though, I think you did well

cthea Thu 18-Sep-08 19:33:57

Hey Perkin - don't worry, it didn't come across as smug at all. Well done, where are you moving?

We've had a viewing tonight and one tomorrow, so things are slow but at least happening a bit. OTOH the other ppl we wanted to buy from (the reason we put ours on the market in the first place) have decided to take theirs off the market. Thing is, once we've decided we want to move, nothing seems quite right again at home and it feels like we HAVE to move IYSWIM.

KatieDD Thu 18-Sep-08 19:53:52

We're just about to go on the market 25% less than we bought for in 2007, which is fine because I am knocking that amount off the next house up in the chain.
But that is the kind of figures you're looking at if you want to sell, we have 7 viewings booked since Monday.

cthea Thu 18-Sep-08 21:38:46

Good luck, Katie, that's impressive bookings for viewings. we've put down the price but it doesn't seem to us that the houses up in the chain are getting a similar reduction (same area, so not affected differently).

KatieDD Thu 18-Sep-08 21:44:38

They aren't advertising the drops but that won't stop us offering less. I have my eye on one in particular that has been on for 18 months, at the end of the day we won't sell unless we get the same discount off the next one and as we're moving up the chain it works well for us.
Lets hope there's a bidding war over ours lol

Jampot Thu 18-Sep-08 22:00:51

good luck to everyone selling right now

im desperate to buy purely for the sake of feeling settled but naturally I want as much for my money as possible so wont buy for about 6 months.

ditzzy Fri 19-Sep-08 16:02:10

I'm i the same position as the OP! We're currently asking 205, and wondering whether to drop to 175.

Had to move for job relocation (in fact we've moved regardless of not selling; cheaper to get bridging loan from family than to drive 250 miles every day). We have people interested but none of them have sold their's yet...

artichokes Fri 19-Sep-08 16:08:54

We were on for 5 months but took it off a few weeks back as nothing is shifting. Most houses we viewed 8 months back are still on the market and yet aren't shirting their asking prices. The agent defends their immovability by saying they would take low offers but I think the total lack of movement on asking prices puts people off.

If I were you I would drop to £200k and expect offers around £174,999 from people who will feel delighted at the bargin they are getting. DO NOT drop to £175,000 as NOBODY will offer at the asking price in today's market.

KatieDD Fri 19-Sep-08 20:15:51

"think the total lack of movement on asking prices puts people off."

So drop the asking price then ?? If you put the house on at £174,999 and tell the agent that is what you can take then you'll get people viewing who can afford £174,999 but wouldn't have even considered £200k or the house wouldn't have come up in their search on rightmove.

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