Selling My Home

[postman44]

How long should you leave your home at current asking price before making a reduction. Home has been on the market for 3 weeks. Thanks for replies

[Buenchico]

Many people don't get more than one or two people viewing a property (if any at all) during the first three months that it's offered for sale.

So if you're actually getting people viewing the house at the current price (which indicates that there's definitely some interest at around that figure), it would seem worth hanging on for quite a while longer before thinking about reducing the asking price. (It might not make that much difference anyway. Someone who's interested in a property priced at £325k might put in an offer of £300k and make exactly the same offer on a property priced at £315k).

[TonyV]

Chris as a difference my neighbour put her house on the market, had 4 viewings within 2 days, and 2 offers at asking price, now sold subject to contract, but house was well presented and in a desirable location.

[AuntPollyGrey]

Postman, are you selling this privately or through an Agent? You can't Exchange until Probate has come through and no Contracts can be set out either . Your Agent should have explained this to you.

[AuntPollyGrey]

Sold subject to Contract means diddly squit I'm afraid. We accepted full asking price on our cottage with 3 acres 1 day after it went on the market -and 2 hours before we were due to Exchange they pulled out....costing us £1200 in legal fees so far -a ridiculous situation that needs sorting by Law.

[TonyV]

AuntPolly not if you ask for non refundable deposit to stop any more viewings, which is what's happening.

[The Builder]

Way too soon, Postie. If anybody's interested, they'll ask for a 10k reduction anyway.

Wait a few months, and you probably won't need to reduce.

[AuntPollyGrey]

Tony, not sure what you mean, its against the Law to ask for a non refundable deposit to take something off the market ( English Law)as there may be mitigating circumstances as to why one can't proceed with the purchase/sale.

[TonyV]

AuntPolley if they are serious buyers, they won't put a deposit down.

[Vagus]

We put my late parents house on the market at a very realistic price, taking into account it had never been updated. We had lots if viewings, one of whom offered a very low price saying it needed work...well, yes, that’s why it was the price it was!
We took it off the market for a month then put it back on at a higher price. Someone else came along and offered a lower price, which was actually the price we’d originally asked. Result!
If you’re not desperate for the money from the sale, and are still waiting for probate, then I’d just wait and see what happens, three weeks is no time at all.