# House Price



## J306TD (May 19, 2008)

Looking for a bit of support here.

Currently selling our house. 2 bed terrace built 2010. Space for 2 cars outside. In a sought after area.

House is valued at £125k had a viewing Saturday followed by an offer today of £116k. Which we obviously refused. Do you think expecting £122k is unfair?


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## nbray67 (Mar 22, 2012)

It all depends on what you want as a min ££ amount from the sale, how long your's has been on the market for and what you are looking at buying.

If the house you are looking at is also in a sought after area then how long will it be on sale for.

Hard to call for us on the forum as it's your house, sale, future purchase etc etc...

What I will say is, they are definitely testing the water and if it's a first offer since it was listed, I'd stick to my £125 for now anyway.


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## Pauly.22 (Nov 15, 2009)

There plenty of people in the country who will be able to get on the property ladder with a house costing 125k, I’d wait for a serious offer.


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## J306TD (May 19, 2008)

nbray67 said:


> It all depends on what you want as a min ££ amount from the sale, how long your's has been on the market for and what you are looking at buying.
> 
> If the house you are looking at is also in a sought after area then how long will it be on sale for.
> 
> ...


Min is £122 tbh. Has been on the market just under a month.

House were moving into is a new build. 3 bed semi. Driveway wide enough for 2.5 cars. Garage and big garden.

I thought that £122k with £3k off asking price is fair.

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## nbray67 (Mar 22, 2012)

J306TD said:


> Min is £122 tbh. Has been on the market just under a month.
> 
> House were moving into is a new build. 3 bed semi. Driveway wide enough for 2.5 cars. Garage and big garden.
> 
> ...


If it's only been on less than a month then stick to your guns.

How many viewings have you had?


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## slimjim (Mar 22, 2007)

No not unfair, jus remember the market is quiet in January picks up end of February. But with Brexit and interest rates going up who knows. 
Depends how lng do you have till you move?

I must admit we have just sold ours and what a pain selling is . Mind you I’ve also learn hw much I dispair Lawyers :doublesho


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## J306TD (May 19, 2008)

nbray67 said:


> If it's only been on less than a month then stick to your guns.
> 
> How many viewings have you had?


2 so far.

Both estate agent and mortgage advisor have said. January can be a little bit slow

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## pxr5 (Feb 13, 2012)

I'd stick to your guns, it's only been on a short time. Did you counter the £116K offer with the £122K?


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## Kerr (Mar 27, 2012)

If the house is valued at £125k, and it's in a sought after area, then there shouldn't be much reason not to get the asking price or much closer. 

I'm sure most people will try with a lower offer to begin with.


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## fatdazza (Dec 29, 2010)

J306TD said:


> Looking for a bit of support here.
> 
> Currently selling our house. 2 bed terrace built 2010. Space for 2 cars outside. In a sought after area.
> 
> ...


Without wanting to sound obtuse, the valuation of you house is only the opinion of whoever valued your house. They may be right or wrong.

At the end of the day it is worth what someone is willing to pay.

If you are happy with the offer then take it, someone desperate to sell will accept a lower price than someone who is not.

Houses can be investments or homes, and people buying a home will generally be prepared to pay more than someone buying to let.

Get two people who fall in love with your house and you are in the money, as a bidding war will ensure the best price.


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## J306TD (May 19, 2008)

Cheers guys. 

As it's the first time I've actually sold a house just wanted to ensure I wasn't being unrealistic 

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## slimjim (Mar 22, 2007)

What did your solicitor advice ?


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## J306TD (May 19, 2008)

slimjim said:


> What did your solicitor advice ?


Same as the estate agent. They now the area and prices pretty well too

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## Rundie (Oct 2, 2007)

Also depends on the position of the people making the offer, are they in a chain, is it a cash offer etc. No point getting an offer of £122k if it doesn't materialise, a few factors not just the price.
We recently sold (18mths ago), good house in nice area, we accepted £10k less as the woman exchanged contracts in a month (ties her in to the deal) no chain and a cash buyer so it all went smoothly. Considering the prices in Hertfordshire have dropped as much as 10% since we did pretty well.


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## WHIZZER (Oct 25, 2005)

If you can knock off the difference on the house you are looking to buy then its all relative. But I think I would wait to see if a 2nd offer came in for sure


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## AndyN01 (Feb 16, 2016)

fatdazza said:


> .......At the end of the day it is worth what someone is willing to pay........


Totally agree.

As with everything it's what someone else is happy to pay. "We" have created this round and round the houses (excuse the pun) price/offer/rejection/different offer nightmare.

Maybe it would be better for all property were sold on a sealed bid to be opened on such and such a date process?

For me a house is a home, not an investment opportunity (and there's a whole different debate.....) so I'd be looking at do I want to live in a particular property in a particular area. The difference between what can be realised from your current property against the "price" of the new one is the only thing that matters.

Good luck with it.

Andy.


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## Darlofan (Nov 24, 2010)

It's their first offer, a very large percentage of buyers will put in a cheeky offer, a low offer and then a realistic offer. So refuse the offer, be honest and say you want closer to 122k and it's not been in long, first viewing etc.

Then you need to start looking at where you want to move to and price of that. At the end of the day it's like part exing and buying a car, selling cost and buying cost don't matter it's the cost to change that is the figure you need to think about.

Ask about the buyers situation, no chain etc as well, then look at your figures. If they are 6k under what you wanted then offer 6k less on the next one and you're no worse off.


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## percymon (Jun 27, 2007)

Wait for a better offer.

Don;t assume the estate agent is doing lots of work for you - badger them every couple of weeks to check they are advertising as much as possible, sending out mail shots etc etc etc. there's not a huge commission for them at that price, but better to sell ten houses at £125 than take a year to sell one at £1M


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## Arvi (Apr 11, 2007)

I'd ask the agents to go back to the buyer to ask for the price you are holding out for. Its a chicken and egg scenario. You want the best price for your property, but also if you have committed and reserved and paid a deposit on your new build property, the developer may start pressurizing you to exchange - typically the national developers want you to exchange within 28 days of sending your solicitor the contract documents. 

In a desirable area in the middle of summer you hold the bargaining power. At this time of year and in the current climate, sellers may have to take more of a hit, but as its the first offer definitely try and barter up, and make the agent work for their fee, although at the reduced price they aren't going to be taht bothered by loosing a few pounds off their invoice. 

Wish houses were 125k in this desirable area (Warwick!)

Good luck !


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## RS3 (Mar 5, 2018)

J306TD said:


> Looking for a bit of support here.
> 
> Currently selling our house. 2 bed terrace built 2010. Space for 2 cars outside. In a sought after area.
> 
> ...


I would consider any offer within 10% of asking price. If I where to price my own house I would talk to agents about what has actually sold in the area, and price accordingly + 10% for haggling room. I think £116k offer on a £125k house is reasonable and I wouldn't be offended by it.
It all dependant on so many factors. How long has your property been on the market and how many viewings?. How many "clicks" have you had on the internet?. How desperate are you to sell?. Have many houses sold around you recently? etc.
I would tell the people who have made an offer your minimum selling price and see what they say rather than just refusing.


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## Nick-ST (Mar 4, 2013)

Silly question but I take it there isn't a part exchange option on your new house? 

Only reason I mention it is because that is what we ended up doing when we got our new place. We'd had a few local estate agents round and they all said 240k. We then went to be nosy and view a new build site not a million miles away and ended up getting a bargain on a much bigger house than what we were looking at due to a sale falling through just before Xmas 2017. They offered a part ex deal on our old place of 237k. The two house sales then went through in 5 days and we had the keys before Xmas. We then had the luxury of a months grace to move everything into the new house! 

It may be worth making contact with your new build company to see if that is a possibility, although it does sound like you are further down the line than that being possible....

Best of luck anyway! House buying / selling is by far the most stressful thing in life that I have experienced so far!


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## Paul08 (Jun 1, 2014)

It depends, we offered 118k on a detached 2 bed bungalow up for 175k and settled on 122k. However the property was empty and they needed a quick sale so 122k worked for them, also they were quite wealthy so in the grand scheme 50k didn’t matter much.

I also know of someone else trying to sell their house for 165k and are adamant they won’t accept less, they have had 3 sales fall through so far and lost 2 houses they wanted to buy. I think they would be better accepting a lower offer from a genuine buyer, they want 165k


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## J306TD (May 19, 2008)

Nick-ST said:


> Silly question but I take it there isn't a part exchange option on your new house?


We asked about this Nick at the very start and it's not an option they offer

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