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Property/DIY

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Original poster

Drop the price now or new year?

56 replies

wereonthemarket · 28/09/2023 12:27

We put our house on the market 3 weeks ago. No viewings.

Our aim was to move in the next 2 years when we can realise a certain amount.

Obviously the market is slow and people are uncertain with mortgages/inflation etc but I think we must be over priced to have had no viewings.

We'd planned to drop the price in January if we got no interest but are now toying with dropping it now.

Valued at £675-700. Currently on the market at £695. The minimum we will accept is £650 (we won't sell for less than this in the next 2 years - we will just wait and reevaluate then). So we could go £675 now then offers over £650 in January. Or we could wait til January as planned. Thoughts?

OP posts:

Twiglets1 · 29/09/2023 18:08

XVGN · 29/09/2023 14:22

This is really weird. Me and Twiggers have a thing going on, but I get notified of a response from her even when it's from someone else!

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Do we have a thing going on?? How exciting

CrashyTime · 01/10/2023 15:33

XVGN · 29/09/2023 14:13

Ok. I'm going to bite. What approach would you recommend? If the price is too high you'll get no interest. If the price is too low you'll get loads of interest. Is there another way?

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Use PropertyLog to see what other sellers are pricing similar property at, then undercut them by 25k or 50k, if the viewers turn up it is at the right price, if no viewings it is obviously just seen as a time waste to view as maybe a "difficult seller", of course even if someone makes an offer their lender might disagree and you then have to negotiate a different price. Sitting there with no viewings though is the worst of all possible worlds.

kidcrazy · 01/10/2023 17:28

Sounds like you only want to sell if someone will give you a price it’s not worth.

Best of luck!

Saschka · 01/10/2023 18:59

XVGN · 28/09/2023 17:08

If you're not really bothered about selling (under a certain price) then you could try a different tactic. Try putting it on Offers Over (an unbelievably good price) - say £600K - and see if that creates a market of such interest that you get multiple offers over asking - all the way up to your minimum price.

Then she’ll get offers under £600k… “offers over” doesn’t mean anything these days. We had an offer accepted that was 7% under the “offers over” price, and apparently we were the highest of 4 offers…

Original poster

wereonthemarket · 02/10/2023 11:33

kidcrazy · 01/10/2023 17:28

Sounds like you only want to sell if someone will give you a price it’s not worth.

Best of luck!

Thank you

OP posts:

CrashyTime · 02/10/2023 14:46

kidcrazy · 01/10/2023 17:28

Sounds like you only want to sell if someone will give you a price it’s not worth.

Best of luck!

That will cover many would be sellers, the market price is made only by those that actually sell though, you could sit in a house for years as it lost value trying to get a certain price and never sell.

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