'Offers over' or 'Offers in region of'?

[Lilly242]

Hi there

Looking to sell and move to second home. For the deposit we need equity from current house sale. Estate agents have suggested £220 but said we could try £230k but think it's a stretch. Not many comparative sales in the area so we went with offers over £220. Do you think I still have a good chance to get offers of atleast £220k (we would happily to close on the deal at £220k as that'll cover the deposit money we need and a abit left over for fees).

Or would we had a better chance to get offers over £220k if we put offers in region of £230k??

Can the EA change this now that the property has gone live it's been 24hours and got 3 viewings booked in already.

Yes, the EA can make the change. But you'd be best advised to leave it as it is. You're already getting interest and if you start playing with the price so soon then potential buyers will doubt how serious you are as a seller. Will they trust you not to cause hassle during the sale process - flip-flopping around?

To me, the price on RM is just a marketing price to tell people that you are thinking of selling. I ignore it completely and just offer what a home is worth to me - be it higher or lower than the marketing price.

I'd have put it on the market for £230,000 (with no comment about offers over) and see what people offer. If I was looking at a property 'with offers over £220,000', I'd be tempted to go in at £218,000 in the hope you might bite and if not, up it to £220,000. If it was on at £230,000, then personally I'd offer around £220/222,000 to see if you'd negotiate on that

We called EA and she strongly advised against changing the price now as they would need to inform the viewers of the change and that we could lose trust, we have now 7 viewings.

For what reason we thought going with offers over was a better idea! Let's see how this goes

Any tips that would help us get the most?

I think if the EA originally suggested 220k then it wouldn’t have been the right thing to change it to 230k anyway.

You’ve got lots of viewings at 220k - if it’s worth more you will get offered more as there will be competition to secure your property.

Don’t be too quick to accept the first offer, just let viewings go ahead over the next week and see where you are with offers.

As you have 7 viewing booked already i would say your house has been marketed well.
Now to get the best price do what you can to make your home as desirable as possible so ensure it's perfectly presented on viewing days. Tidy obviously, spotlessly clean. Make a list of any positive aspects of your home eg great school locally... nice shops nearby---- quite street.... whatever is accurate and will appeal most to your target buyers.

Then hope more than 1 of those 7 viewers wants your home and starts a bidding war.

Good Luck

You've got 7 viewings so far. I'd say you have a good property at the price it's marketed at.
However you say 'Not many comparative sales in the area' so be aware of what makes your property stand out.

Many moons ago we were selling an ex-council house on a very small estate in the countryside. Sales in the area were almost none because it was somewhere people wanted to live and so didn't sell very often. When it came to sell we had an EA come in to value, the original agents we bought off, they valued it at around £79k. I'd been watching the market and knew what we had and how the market was moving. So I found another agent and we agreed they would market it at £99k. It sold at asking price before the sales details ink was 'dry'! Maybe I could have waited for more but we were in a hurry to sell and were happy with the price and the buyers.
So, few sales in an area, push EAs knowledge to the limit. Our 1st agents low valuation was based on what they sold to us for - £49k, and not really what we thought we could achieve.

Figure out what USP your house has and consider how much 'extra' it may be worth over other similar sized properties. Be aware that the EA might not know what your place is 'worth' either.

I'd think that you should get 'offers over £220k' and that marketing price gives you plenty of 'wiggle room'.

Thank you everyone, for all the advice 🙌

I like the idea of listing all the positive things in the area, im thinking to create a small folder with closeby services, or should I ask EA to do this? Don't want to step on their toes :)