Selling the house. Comments needed.

[starone]

Don't know if this is the right place to ask this so please bear with me if it isn't. Right - put the house on the market for £133,000. No interest, so lowered it to £129,950, hoping to get £125K. Description of house - good condition, ex-council, 1930, needs a bit of updating but kitchen and shower room are new, nice garden with lawn etc., driveway for parking and large stonebuilt workshop at back. Not an awful lot of interest but several viewers and eventually someone offered £110K, which I refused, they upped it to £115K, which I still refused, but lowered my sights to £120K. They have upped to £117K. My son thinks they are taking the p***. What do you think? I need someone to put me straight as I have been tempted to take the £117K although it is much less than I hoped for.

[sandyRoe]

Their offers edging upwards. They seem interested so stick to your £120k.

[ummmm]

You either take the £117k or hold out for a better offer.

[starone]

Thanks Sandy, my son thinks the same. I shall do this.

[starone]

I've got someone else having a look this afternoon. With a bit of luck they might make an offer, so I might hold fire for a while and see what happens. With the world economy being what it is, it is very difficult to make a decision. You are very hard, eddie, but of course it is no good being soft in such a market, especially if you are a first time buyer.

[factor-fiction]

What was your last offer to them -£125000 or £120000?

It is a buyer's market but if they like your house they may not want to lose it for the sake of a couple of thousand. On teh otehr hand if you don't sell it now you might be hanging on fo a while, so it depends on how quickly you need to sell.

We put ours for sale a few years ago for £290000 on the advice of estate agents. We got at least 10 offers from people who we thought were taking the p**** because they were all in the range £230000-£250000 (all claimed to have ready cash too!)- so we turned each one down. Then the offers stopped and we didn't get a sale. Looking back maybe we should have taken what was on offer as we'd be lucky to get similar offers now.

[starone]

It is very difficult factor, but these answers are very useful as they are getting things straight in my mind, which is what I want. So thanks to all for your interesting answers.

[Kathyan]

My neighbour has just sold her house. She put it on the market for £124,950 in February last year. After around 6 months of no interest, she reduced it to a fixed price of £120,000. Stll no interest so she reduced it to £119,950. She sold it a couple of weeks ago for £114,000. She really wanted to move, so accepted the lower price. Only you can make the decision!

[bednobs]

eddie sayys the buyer might not want to looe it for a matter of 3k - but you have to ask if you want to loose the sale for a matter of 3k? It will depend on how urgently you need to move and if you need a certaina mount to move

[Buenchico]

Start by checking what other properties on your road have sold for:
http://www.nethouseprices.com/

Then factor in the recent changes in house prices:
http://news.bbc.co.uk...rices/html/houses.stm

Chris

[ladybirder]

Star I was in the same position as you and friends advised me not to sell at the price I was offered which was £5k less than I wanted after I had already reduced once. I really wanted to move, the market was dropping, so I took the hit against all advice. And am I glad I did as every house that has sold in my road since has sold for less than mine did. So ask yourself if you are prepare to sit there for another couple of years, with the price dropping, if you refuse this offer. Whatever decision you make I hope it turns out to be the right one.

[starone]

Thanks everyone I will let you know what happens.