What do you think of "Fixed Price" houses?

[TerrysNo2]

Agent has recommended adding a Fixed Price to ours as we will only sell for a certain price.

I'm not sure what impression they give, what do you think?

depends on the price! if it's same as asking prices in the area, people would be put off as those other houses would be negotiable. But if slightly lower - great.

It always gives me the impression that the vendors aren't really that realistic about selling, the same with offers over. I notice that quite often these are the ones that you see advertised for a very long time.

Are you in Scotland?

no, in England

Oh ok. Scotland is different.

I think it means you want a fixed price for it, which means you aren't open to negotiation. it would slightly put me off but not the dream house.

we had a price we wanted for our house and marketed it over that, we a view to negotiating to that price. we might have gone below in the right circs - no offers for ages, important to get the house we wanted.

I think that most people have a price they want but they keep their cards closer to their chest, not on the advertising board.

I see 'fixed price' and 'offers over' as a clear indication of what you would accept, and therefore the most I would offer... But that's because the market is very slow around here; if it was healthier, maybe I'd take the words at face value.

having just bought a house, when I did see fixed price houses on Rightmove I either didn't bother with them or used them as a benchmark to compare other properties against. In my experience they tend to be the properties that are overpriced and hang around for the longest time and I couldn't be bothered trying to negotiate with a vendor who had a particular price in mind, where I live there are plenty of properties to choose from. It depends on your local market, would your fixed price still look competitive against other similar properties?

I would avoid too. We have a couple of houses on our developement (approx 4 -5 year old houses) that are "offers over" both are way over priced to start with.
I take it that the price they advertise at is the price they need to sell at to be able to move, which is not always what the house is worth. ie one is on for 520k we know they paid 385k back in 2008, it is smaller than ours and ours has just been valued at 480k

I would avoid it. The price says everything and most people can see what you want by the asking price in my opinion.

We would only sell for a fixed price as we where only on the market for a particular property. One agent had a very good plan based on what we would accept and we ended up convincing another agent to put it on at £10k more than we needed/would accept. We got the full asking price within hours of the first viewing.

Could you not market the house at a bit above the price you want? £15k ish? Or will that make your house look too expensive for what it is?

The reason being, most people like to think they've got a bargain. A bargain house wise is rarely paying market price (unless the house is worth far more). I do think people will be put off viewing a house where there is no room for negotiation. The only way I would try it is if your house is unique or in a very desirable location.

I think if you go for a fixed price it needs to be a good price.
If you ask for a fixed price and it's on the high side you will put people off.
Look at similar properties' asking prices, chop 8% off for your fixed price and it'll probably sell.