Go Back   English Forum Switzerland > Help & tips > Other/general  
Reply
 
Thread Tools Display Modes
  #1  
Old 02.02.2010, 15:28
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
house prices in the uk

We are selling our house in the uk, whats the normal % to try and knock off the asking price? someone just made an offer of quite a bit less then the orginal asking price (15% less) saying it needed some work, well it needs decorating its not been done for over 5 years and had 2 young kids living in it while we have been here, but 15% for decoration??? its a 2 bed town house not a palace.
It was very hard to give the estate agents a civil answer.
Reply With Quote
  #2  
Old 02.02.2010, 15:38
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 15,044
Groaned at 295 Times in 199 Posts
Thanked 19,147 Times in 8,049 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: house prices in the uk

depends on the market. i'd ask for 20-30% below with a view to getting 10-20% off. of course, sellers normally inflate asking price by 20% or more to build in some room for negotiation.
Reply With Quote
  #3  
Old 02.02.2010, 15:40
Tom1234's Avatar
Forum Legend
 
Join Date: Jan 2007
Location: Kanton Luzern
Posts: 17,341
Groaned at 680 Times in 528 Posts
Thanked 26,406 Times in 10,643 Posts
Tom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
We are selling our house in the uk, whats the normal % to try and knock off the asking price? someone just made an offer of quite a bit less then the orginal asking price (15% less) saying it needed some work, well it needs decorating its not been done for over 5 years and had 2 young kids living in it while we have been here, but 15% for decoration??? its a 2 bed town house not a palace.
It was very hard to give the estate agents a civil answer.
When you buy a house, you buy it as seen.

You, as the seller, don't have to accept any figure below the one you are offering. Decorating costs are immaterial.
Reply With Quote
  #4  
Old 02.02.2010, 15:43
GenevaSculler's Avatar
Forum Veteran
 
Join Date: May 2008
Location: Geneva
Posts: 1,251
Groaned at 7 Times in 5 Posts
Thanked 1,033 Times in 534 Posts
GenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond repute
Re: house prices in the uk

I think it really depends on the situation - if it's been on the market for a while and the seller has done his research and there are plenty of similar properties available, then he may well start the bidding at a fair bit less than the asking price. If you aren't in any hurry to sell it (eg it's not costing you much in mortgage costs or you don't need the money urgently), then get your agent to explain that to the person making the offer and reject the offer - it could be that he was just trying it on to see what happens and will come back with a much better offer...

Or he may be pushing his luck to try and get a house which is a bit more than he can really afford and you'll lose out on the sale this time....

As I said, it is so dependent on the specific situations of you, the potential buyer and the local housing market that it is very difficult to say if a particular discount is reasonable.

I think the market in the UK at the moment is pretty unpredictable generally - I've had my very nice 2 bed flat on the market in Cambridge for about 4 months now, and only had one offer which fell through - the agent keeps telling me that the market for houses in Cambridge is absolutely flying, whereas flats are sticking
Reply With Quote
  #5  
Old 02.02.2010, 15:43
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 15,044
Groaned at 295 Times in 199 Posts
Thanked 19,147 Times in 8,049 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
We are selling our house in the uk, whats the normal % to try and knock off the asking price? someone just made an offer of quite a bit less then the orginal asking price (15% less) saying it needed some work, well it needs decorating its not been done for over 5 years and had 2 young kids living in it while we have been here, but 15% for decoration??? its a 2 bed town house not a palace.
It was very hard to give the estate agents a civil answer.
i was a moderator on globalhousepricecrash.com (now migrated to creditcrunch.co.uk) and recommend you check out the forum there for advice (or also housepricecrash.co.uk). there's a wealth of experience there on the economy and local markets as well as negotiation strategies.
Reply With Quote
  #6  
Old 02.02.2010, 15:44
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
depends on the market. i'd ask for 20-30% below with a view to getting 10-20% off. of course, sellers normally inflate asking price by 20% or more to build in some room for negotiation.

well thats where I have gone wrong then, I put it up for a fair price, and now people seem to be taking the pee. Oh well, glad I don't need to sell it.
Reply With Quote
  #7  
Old 02.02.2010, 15:46
Mikeybroomers's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: Zug
Posts: 980
Groaned at 16 Times in 14 Posts
Thanked 980 Times in 444 Posts
Mikeybroomers has a reputation beyond reputeMikeybroomers has a reputation beyond reputeMikeybroomers has a reputation beyond reputeMikeybroomers has a reputation beyond reputeMikeybroomers has a reputation beyond repute
Re: house prices in the uk

Well, if it's in Medway...
Reply With Quote
  #8  
Old 02.02.2010, 15:51
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 15,044
Groaned at 295 Times in 199 Posts
Thanked 19,147 Times in 8,049 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
well thats where I have gone wrong then, I put it up for a fair price, and now people seem to be taking the pee. Oh well, glad I don't need to sell it.
re-list it at a higher price. UK buyer will always ask for a discount.
Reply With Quote
This user would like to thank Phil_MCR for this useful post:
  #9  
Old 02.02.2010, 15:52
Member
 
Join Date: Nov 2006
Location: England and CH1844
Posts: 185
Groaned at 0 Times in 0 Posts
Thanked 17 Times in 13 Posts
clive7 has made some interesting contributions
Re: house prices in the uk

A lot depends on the area of the UK you are looking for a sale. Also some Agents play the game of proposing a high asking price just to get the mandate from you to sell.

Again you don't know what the Agent is saying if a potential buyer asks him what he thinks the seller will accept.

I suggest you look at a cross section of similar properties for sale in your immediate area, via the internet (say Rightmove) and see how your asking price compares. If your price looks in line I feel you should hold out for no more than a 5% reduction. Properties are in short supply and although buyers are finding it quite difficult to get large mortgages most properties seem to be selling for around realistic asking prices.

Good Luck.
Reply With Quote
This user would like to thank clive7 for this useful post:
  #10  
Old 02.02.2010, 16:02
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: house prices in the uk

our house is 'odd' in that it's the only house in the area with a garage, en-suite and double lenght garden, so its almost impossible to compare like for like.

We did research prices and its up for what I think is fair, I'm not kidding myself about its value, but I am quite insulted that they offered so much less and said the reason was it needs work, they specifically mentioned it needing a new boiler, except we replaced that with a brand spanking new efficent one in 2005/6

I'd have been fine if they just made a silly offer and admitted they where chancers, but trying to justify it has really hacked me off.

Its worse then dealing the idiots when you try to sell a car.
Reply With Quote
  #11  
Old 02.02.2010, 16:06
kevlegs's Avatar
Forum Veteran
 
Join Date: Jan 2009
Location: Far far away
Posts: 2,178
Groaned at 2 Times in 2 Posts
Thanked 1,324 Times in 700 Posts
kevlegs has a reputation beyond reputekevlegs has a reputation beyond reputekevlegs has a reputation beyond reputekevlegs has a reputation beyond reputekevlegs has a reputation beyond reputekevlegs has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
re-list it at a higher price. UK buyer will always ask for a discount.
Then the agent will come back in a few weeks and advise you to drop the price to encourage more people to view it.

A buyer trying to use the decor as a reason to lower the price needs a slap

You've said no, the agent should now be asking the buyer if they can afford more etc and hopefully you'll get another offer. Or you can call the agent and give them a final price (if you want to go down at all) that you would be prepared to take it off the market straight away.

Good luck anyway
__________________
"What makes a good man go neutral? Lust for gold? Power? Or were you just born with a heart full of neutrality?"
Reply With Quote
  #12  
Old 02.02.2010, 16:07
Uncle Max's Avatar
Forum Legend
 
Join Date: Jun 2006
Location: Zri
Posts: 7,553
Groaned at 164 Times in 105 Posts
Thanked 8,424 Times in 3,486 Posts
Uncle Max has a reputation beyond reputeUncle Max has a reputation beyond reputeUncle Max has a reputation beyond reputeUncle Max has a reputation beyond reputeUncle Max has a reputation beyond reputeUncle Max has a reputation beyond repute
Re: house prices in the uk

Maybe it's a case of "Better the worst house in the best street than vice versa"? The bloody Jones's never bothering to keep their garden...

Good luck with your sale
Reply With Quote
This user would like to thank Uncle Max for this useful post:
  #13  
Old 02.02.2010, 16:18
Carlos R's Avatar
Forum Legend
 
Join Date: Dec 2009
Location: Roundn'about Basel
Posts: 7,231
Groaned at 105 Times in 95 Posts
Thanked 9,934 Times in 4,178 Posts
Carlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
well thats where I have gone wrong then, I put it up for a fair price, and now people seem to be taking the pee. Oh well, glad I don't need to sell it.
That's the point, isn't it. At the mo, I'd say it is more a of a buyers market, but if you don't need to sell, tell them to come back when they are serious...
Reply With Quote
  #14  
Old 02.02.2010, 16:19
GenevaSculler's Avatar
Forum Veteran
 
Join Date: May 2008
Location: Geneva
Posts: 1,251
Groaned at 7 Times in 5 Posts
Thanked 1,033 Times in 534 Posts
GenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond reputeGenevaSculler has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
our house is 'odd' in that it's the only house in the area with a garage, en-suite and double lenght garden, so its almost impossible to compare like for like.

We did research prices and its up for what I think is fair, I'm not kidding myself about its value, but I am quite insulted that they offered so much less and said the reason was it needs work, they specifically mentioned it needing a new boiler, except we replaced that with a brand spanking new efficent one in 2005/6

I'd have been fine if they just made a silly offer and admitted they where chancers, but trying to justify it has really hacked me off.

Its worse then dealing the idiots when you try to sell a car.
No point getting annoyed about it - of course the guy will try to justify his offer. It's all part of the game!

As you have already said you don't need to sell, then talk to the agent, tell him you won't accept such a large discount, and tell him you are happy for him to explain that to the guy making the offer. Either he can't afford/won't pay more, or he'll come back with a better offer.
Reply With Quote
This user would like to thank GenevaSculler for this useful post:
  #15  
Old 02.02.2010, 16:21
smackerjack's Avatar
Forum Veteran
 
Join Date: Jun 2007
Location: U.K/VAUD
Posts: 2,255
Groaned at 14 Times in 7 Posts
Thanked 2,721 Times in 1,118 Posts
smackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond repute
Re: house prices in the uk

Have you tried www.zoopla.co.uk I know people who swear by it. It gives you the price that your home should be worth ( of course it cannot take into account internal improvements but it is interesting to track your old homes over the last few years and see how much they are worth.
Reply With Quote
The following 2 users would like to thank smackerjack for this useful post:
  #16  
Old 02.02.2010, 16:52
Carlos R's Avatar
Forum Legend
 
Join Date: Dec 2009
Location: Roundn'about Basel
Posts: 7,231
Groaned at 105 Times in 95 Posts
Thanked 9,934 Times in 4,178 Posts
Carlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond reputeCarlos R has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
Have you tried www.zoopla.co.uk I know people who swear by it. It gives you the price that your home should be worth ( of course it cannot take into account internal improvements but it is interesting to track your old homes over the last few years and see how much they are worth.
Interesting or painful?
Reply With Quote
  #17  
Old 02.02.2010, 17:39
Deep Purple's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: England
Posts: 5,273
Groaned at 15 Times in 14 Posts
Thanked 5,284 Times in 2,568 Posts
Deep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond repute
Re: house prices in the uk

Around my area (Hastings, East Sussex) I would not expect to see prices marked up more than about 5%. If someone negotiated 10% I think that would be a pretty good deal.

There does seem to be more fair pricing than in the past. With the difficult market there is more encouragement to price realistically. If prices are over inflated many buyers won't even bother to look.

Another option is to price at 'Offers above XXX' This only tends to work if you are confident of a few offers.

If you have a good agent, you should agree in advance the absolute minimum that you are prepared to accept. If you do get an offer lower than this, they should still pass it to you, but noting that they have advised the potential buyer of your limit.
__________________
"I'll say I can't tell you when, But if my spirit is strong, I know it can't be long, No questions I'm not alone, Somehow I'll find my way home" Rod
Reply With Quote
  #18  
Old 02.02.2010, 18:26
Nev
 
Posts: n/a
Re: house prices in the uk

The rule is there are no rules. There is no standard bid offer spread in private real estate deals. Nobody these days treats the asking price as anything but a guide and an opportunity to haggle. So they chucked in what you think was a cheeky bid. No point getting miffed with their tactics. Are you pi$$ed with them or the agent? Nobody can force you to sell. If you're not prepared to negotiate on price then hold your ground. If you are prepared to be flexible then negotiate. Whatever you don't don't let it get personal or get offended. It's a business transaction. Sounds like you've done your homework on fair value. Just play it cool, go back and tell them the price reflects the state of decoration and the boiler was replaced a a few years ago. Don't shut them down. Keep them talking. It's in your interests.
Reply With Quote
  #19  
Old 03.02.2010, 11:05
Mrs. Doolittle's Avatar
Forum Legend
 
Join Date: May 2007
Location: Lugano
Posts: 6,605
Groaned at 129 Times in 95 Posts
Thanked 8,070 Times in 3,754 Posts
Mrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond repute
Re: house prices in the uk

Quote:
View Post
We are selling our house in the uk, whats the normal % to try and knock off the asking price? someone just made an offer of quite a bit less then the orginal asking price (15% less) saying it needed some work, well it needs decorating its not been done for over 5 years and had 2 young kids living in it while we have been here, but 15% for decoration??? its a 2 bed town house not a palace.
It was very hard to give the estate agents a civil answer.
It has been said that the first offer is sometimes the best one. But 15% to knock off the selling price is a substantial amount, but still, it is an offer. Make the estate agent earn their commission. Instruct them to go back with a counter offer, perhaps something in the middle of your asking price and the offer. A lot of people do expect to negotiate when they make a first offer....having the seller come back with a flat no may not be the best idea. If you come down even a little in price you are showing that you are willing to negotiate.
Hope you can find a solution. Best of luck.
__________________

Reply With Quote
  #20  
Old 03.02.2010, 11:14
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: house prices in the uk

I'm a stubborn old git I told the agents no, now the cheeky gits are asking a load more questions, like we will be clearing the house of our stuff? wtf?? I'm not sure what angle they are going for there, do they want my furniture or just making sure the house will be clear?? why even ask when your offer has been refused??

I'm getting bad vibes from them so I'll probably tell them to stick it anyway, last thing I need is to arrange to clear the house, go back to the uk to sign papers etc and have them try to pull a fast one like try to change there offer on contract signing day.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Negotiating house prices oscarsmum Housing in general 18 14.12.2009 17:55
House prices in Basel sre30016 Housing in general 3 03.09.2009 11:20
bike prices evZENy Sports / Fitness / Beauty / Wellness 32 19.03.2009 17:09
Technology prices aa_248 TV/internet/telephone 2 31.01.2007 14:39


All times are GMT +2. The time now is 17:16.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0