Loads of CF making silly offers on my home

[pV5p]

Is anyone else having issues with CF wasting time and making silly offers on houses?

We put ours up for sale end of October as we didn't want to move until next year. A very similar house was snapped up at full asking price within a few days earlier in the year so we waited to put it on the market.

But several people have made very cheeky offers (over 10% less than the asking) for a home that is very well priced and extended and in much better state than the neighbors that sold quickly. One was even at the same price as the neighbors when ours is worth far more and obviously we're not going to sell at that price as in no rush!

We've changed it to fixed price and not even had a viewing in two weeks. IS anyone else noticing problems with CF and weirdness at the moment? (south west)

Sorry, but it's overpriced. That's it.

If multiple people have made the same "cheeky" offers and you've had no viewings since you went Fixed price then it would suggest that that's what, in the current market, your house is worth to potential buyers

The uncertainty around Brexit, now that we are on the precipice, might be making a difference.

Two words. Scottish Law. What we should have for house purchase, unless anyone has a better idea.

It's really not, we had three valuations and they were all pretty similar. And as said the neighbors house sold very quickly and wasn't that great in comparison.

@pV5p

It's really not, we had three valuations and they were all pretty similar. And as said the neighbors house sold very quickly and wasn't that great in comparison.

But you said that was earlier this year. A lot may have changed since then, depending on when it was.

If anything isn't now better to sell than earlier in the year with all the vaccines reporting good news?

Will brexit really make that much of a difference as we've known about it for years. So that has been hard baked into price of my house.

@pV5p

It's really not, we had three valuations and they were all pretty similar. And as said the neighbors house sold very quickly and wasn't that great in comparison.

House is unfortunately only worth what others are willing to pay for it. If you are getting low offers and th3n no offers it means, it's priced too high.

If you put an item on the market, people will make offers on it - that's how a sale works. It's then your right to either reject or accept those offers. Nothing else is needed. It feels like wasted energy to get upset about it.

@PrincessNutNut

The uncertainty around Brexit, now that we are on the precipice, might be making a difference.

It's getting snapped up pretty quickly around where I am.

Maybe someone really needed to move quickly and was willing to over offer on the neighbours because of that. Ultimately your house is worth what someone is willing to pay.

When your neighbours house was snapped up was it when we first came out if lockdown ? .... back in the summer there were lots of people wanting (and needing) to move, so places were getting snapped up.
Now, with Brexit loaming, a 2nd lockdown (so more jobs at risk), loads more people struggling financially as their saving run out, coupled with strictly lending criteria rom the banks, it is getting more to be a buyers market, so yes, they will be haggling.

If you're getting "loads" of cheeky offers then it is over priced.

I think maybe a lot of people at the moment are in a rush to buy before the end of the Stamp Duty Holiday. Maybe they assume that you will be in a rush too and so more willing to accept a lower price.

10% below is a pretty standard first offer IMO.

Depends what you mean by better than the neighbours. If it’s new kitchen etc that makes a house more sellable but not more in price.

I doubt they are being CF, it’s more the market is slowing. I live in commuting distance of London and some houses have knocked off nearly 20%. But still can’t shift the house. Bad time to sell sadly, mine is at rock bottom price but can’t get anywhere. We already knocked off 10% but nothing.

Sounds to me like it’s overpriced. I know that can be hard to swallow as it’s your home that you love etc. but that’s the reality unfortunately.

@pV5p

If anything isn't now better to sell than earlier in the year with all the vaccines reporting good news?

Will brexit really make that much of a difference as we've known about it for years. So that has been hard baked into price of my house.

The market round here went crazy over summer with people moving out of London and major cities. If you're in a pretty/commuter area then your neighbour's house might have been swept up in that wave.

Have you counter offered back to them OP?

Your house is overpriced. 10% off is a normal amount to offer. When exactly did your neighbours sell earlier in the year? A few weeks ago? April? January? It makes a difference. Whereabouts in the SW are you? Village in Cornwall, or central Bath?

Where i live buyers have seen people hiking their prices up massively to "ride the wave" of the property market before the stamp duty goes back.

Houses now are perceived as being priced at more than they're worth. As such, buyers aren't prepared to pay what's being asked.

Do you actually know how much the neighbours got?

It's only worth what people are willing to pay.

Since you're not in a rush you can afford to wait and hopefully you'll get an offer you're happy with.

10% of the asking price doesn't strike me as cheeky for a first offer if you don't sell a mansion

It's a dangerous game when houses are flying off the shelves -as they still are here, but it's reasonable. That's what, 50k off a 500k house? Bit low but not outrageous.

If a vendor agrees to my first offer on a house, I think It was too high and I've made a huge mistake!