How long before a viewing?

[wereonthemarket]

We went to market on Thursday!

Not sure what to expect now - I guess I expected a viewing booked very quickly?! It feels strange being in a sort of limbo waiting to see if anyone wants to view.

We agreed a price with the estate agent close to the top of their valuation and said we'd keep it there til mid January before reevaluating the price.

In no hurry to move but obviously now we've started the process I think I want something to happen 😂

You've completely lost me. Whose money?

I don't have a buyer?

I’ve had 4 viewings in the first week, and my house is priced right 20k less than all the other houses in my area.

But the first offer is also 20k under asking - so I’m thinking. Should I have advertised the average price instead? It seems I have more viewings but really bad offers!

@HopefulSeller You got buyers to notice and view your house - that’s the first challenge in a slow market.

Think of the 20k under asking as a first offer and not their best offer.

You should reject it if it’s too low. But give them a counter offer of what you will accept by maybe dropping 5k or so off your asking price.

Thanks @Twiglets1 it’s all a bit nail biting. I think there’s a lot of misconceptions sometimes between buyers and sellers. Buyers can ‘but sellers aren’t realistic’ and sellers ‘they are just being cheeky’.

In my case, they’ve done the ‘take 10%’ off the asking price, because of the misconceptions that I’ve priced it above what I’m wiling to take. But really I’ve priced it at my bottom line and that’s obvious compared to most of the houses for sale.

If that really is your bottom line then you will have to explain that to the EA and not budge on price.

You haven't been on the market long so you are likely to get other offers in time. But the best offers do tend to come up in the first few weeks. So if you are very determined to sell, it might be better to try to negotiate with this Buyer by keeping the conversation open by showing even a small willingness to compromise further on the price.

I'd just make a counter offer (which will be your asking price) to the people who have offered. They might walk away, they might happily pay it. It's a negotiation.

the best offers do tend to come up in the first few weeks

This is true in my experience. Once a house has been on the market a little while, buyers are less likely to pay asking price.

I'm just glad I don't need to move in the near future, as the market doesn't look fun right now. Two houses ago, I bought and sold in 2009, immediately following the crash, and that wasn't a good experience. Gazundering all over the shop, banks pulling out of mortgage deals etc.

Can a reminder of the asking price really be considered a “counter offer” @TarantinoIsAMisogynist ?

Surely a counter offer has to show some reduction in price to be considered an offer. Even if the reduction is small.

I got the EA to say 'nearer the asking price' but they haven't got back to me... 😕the thing is, it's likely they've want another 5-10k after survey and it's so low I'd not be able to afford to buy again in my area.

I guess it is just a statement that the asking price is the minimum acceptable figure. But there's no harm in going back and explicitly stating that so they know where you stand.

I think if you are confident that you are reasonably priced in the current market then you should get the EA to say that. Lots of people think that they have to start low in negotiations because that’s what they’ve seen on all the property-buying programmes, but it’s the job of the EA to get the two of you to a figure where you’re both comfortable.

Interest rates, interest rates, interest rates, this isn`t 2017 any more.

Buyers who either already have a house looking to upgrade or were already looking last year will be having to adjust their expectations a lot.

For a mortgage of £625k at a 4.5% 25 year mortgage they could have borrowed over a £800k at 2% a year or two ago. Many people who have a mortgage deal ending will be paying £500 plus more for their next deal even without moving.

In response I think many people who have the choice and don't need to move will stay put for a while longer.

Heating bills that have tripled won't help shift large properties either.

Ask your seller to drop their price as well, chances are they won`t have nearly as many offers as they would have had a couple of years ago.

Had 3 offers and accepted one of them! All under asking even though I had priced it well under the area price for similar houses, but near enough. They are getting a bargain!

Now just have to hope it all goes through smoothly.

Hi OP - did you manage to sell?