SE London - How long before you got an offer?

[R202020]

On the market for a few months. We had some viewings, but no offers yet.

About 10 days with first buyer, when they turned out to be time wasters and we went back on someone who missed out first time was waiting and offered straight after viewing.

Are you brave enough to post a link?

Though I would say it's probably price - we priced v realistically and lower than the completion. It worked in our favour as the competition between buyers drove the price up to where we wanted.

Do you have wiggle room to lower the price?

About 3 weeks with ours and we had lots of viewings. Agree with previous poster are you realistic with price as we priced realistically (which is what I think got the viewings). What has your estate agent suggested? Are there many other similar properties for sale in your area? Can you lower price?

Be brave and put a link up :)

What price range is the property? Is it fairly typical or a rare or quirky property

The first people who viewed ours offered and we are going through the selling process now.

What sort of property are you selling OP? Is it competitively priced? I noticed quite a few similar to ours hanging about on the market for ages as the price they were asking was silly.

I think a lot of people are still of the mindset that they can get silly amounts for property in London circa 2016..the market has dropped significantly.

We are selling a house in the range of 600-650k. It’s priced reasonably.

Reasonably in relation to sold prices or asking prices?

Sold prices and current asking prices

Where in SE London are you? That makes a difference

You must be in a different part of se London than me because current asking prices bear no resemblance to recent sold prices round here (br4)... unless you call adding 10% from what was paid within the last couple of years as bearing resemblance

The market is quiet at the moment but every time I've marketed a house it has gone within a couple of weeks (including last summer). As buyers we are finding that most things get snapped up quickly but there is a hard core of houses that have been on the market for months and months. They are either overpriced or have something odd about them, eg a toilet in a bedroom...

@se22mother you are right is does make a difference depending on the area
@R202020 what area?

Are you checking the actual sold prices on right move, not estate agent under offer prices?

Place marking as I’m having no luck selling my flat

I have been looking and what the pattern seems to be is that property goes on,waits around, gets reduced, sells.

We were on the market a good 6 months with a buyer dropping out; then had a viewing and asking price offer with no chain and we were moved within 6 weeks!

It's super stressful but remember it's going to be the perfect house for someone... just got to be patient in the current market!

In exactly the same situation here.
SE London - Greenwich - 3 Bed house on market since Jan. Around 28 viewings but no offers. We started at £690k, reduced to £650, now down to offers in excess of £635k.

It’s a frustrating process isn’t it OP!
I’m finding it especially tricky trying to keep the place tidy and clean for viewings. Mainly I’m flinging washing and clothes into any spare space or wardrobe 😬

Tiger bear based on what you paid for your house I think you will be lucky to get what you paid for it as you only bought it 2 years ago and prices have definitely not gone up
If I am looking at the right house

We didn't sell until 10 months on the market. Had several extremely low offers (think 50k under) which were after a couple of months which were not accepted and I can't imagine they thought we would either.

@Alexalee - it’s the Hollymount Close one with KFH. I paid £600k two years ago, and at the time it had been reduced from £670k.

@tigerbear that's the one I thought it was.
Based on average prices in the area since you bought it, it has gone down in value by about 10% but if you got it under market value at the time then it will obviously not have gone down as much, still though i know the area well and i think you will struggle to get 600k at the moment, are you desperate to move or can you wait it out?

@Alexalee - no, we don’t have to move at all, in fact, we’d prefer to stay. The only reason we want to move is to a cheaper area - looking at Lee - to reduce the mortgage as my DP and I want to change careers, so we need to reduce our living costs.

Well I wish you luck tiger, you are the lowest priced 3 bed in your area so theres not much more you can do. Fingers crossed for you

@Alexalee - thanks for your kind words. 😊