I have an house valued at £165,000

What would make people view the property.

Do I put £165,000 and get no viewings

Do I put 'In the region of £160,000' or

Do I put 'In excess of £145,000'

Will the 'In excess' thing make you view the property?

Cheers
Nik

£165,000 - otherwise I think you are going to mess about with the price later if I make an offer. When I buy I like to know the price. I never look at "in excess of" - it annoys me. "in the region of" I think you will still want to be greedy,

I'd prefer to see your price, then if I like it make an offer.

Hello everyone,

When we are looking for new homes the price is probably not the first criteria that is considered. A well presented brochure and accurate discription is the best place to start. If working through an estate agent ring them on a weekly basis for an update. Ask for proof of advertisement and interest.
Most people now are making offers up to 10% below the asking price so be aware that you will be faced with some negotiation on price.
Finally location and demand are key factors in the market, check how much other properties have gone for in the area.

Hi I have view thousands of properties and the best start you can get is with an accxurate description and a pro active ea. Keep the ea on their toes by asking for weekly updates and forth coming advertisements. Buyers are regularly bidding 10% below asking price so be prepared to negotiated. Check recent house sales in your area and set your price in line with the findings

Make sure the EA that valued it is somewhere near right, check out what similar house have sold for in the area on nethouseprices (you be suprised how many EA's don't even bother with this and will just look at asking prices in you area).

A good pro-active agent is going to get more viewings at sensible money that a poor agent with it on cheaper.

A friend of a friend put there flat on with a local agent i advised against (they went with them as they had the lowest fees) anyway, 3 weeks later - still didnt even have a pic of the property in there window! i called the office out of interest 5 weeks in to be told they had nothing in that area for that price!!! The days of easy sales are long gone (in my area anyway).


PS_ i have found puting it in at sensible price and offers over £xxx,xxx is the way to go.

Probably the County Assessor's Office..... if they are even posted.

"reduced to £65,000" would do the trick for me. Cheers!

Hello, if it helps

I would put a simple price and leave out the 'in excess of' or 'in the region of'. I am in Wiltshire and there are lots of houses constantly shifting between OIEO and OIRO etc. In the end it seems they all come back to stating what they want.

I don't know about your house nor the target market you have for it but I always get put off by estate agents on rightmove who insist on using 'fisheye' lenses or including only a couple of pictures...if I see pictures of the exterior and garden it makes me wonder what is so awful about the inside that they couldn't show it.

Have a nice weekend

Stan

Ask your EA how many people are on their books looking for propertys in the different price bands.


If it's not in my price range I'm not going to request a viewing.

Personally I wouldn't bother looking at anything without a "fixed" price, OIEO and OIRO both suggest to me that you want more than that price and are therefore no going to be interested in what I would consider a serious offer.

3 main things would make me view a property
1 Is it in my price range ?
2 Is it in the locality I want to live in ?
3 What sort of house is it ? Basically if it is post 1939 , then I don't want to know ! (sorry if that sounds eccentric !)
If it's overpriced ,then I won't bother to look at it

Having just sold ours, we are now looking for another one.

We know where we want to live, so location is important.

The location is more important than price, as we intend to stay there for at least 10 years. Its likely that we wont be buying in the next few months until the market partially stabilises and sellers actually realise that they are living in overpriced properties. We dont want to make too many viewings, and if we do end up making an offer will make an opening offer in the region of 30% less than the EA price.

We're looking at this one:
http://www.rightmove.co.uk/viewdetails-165...=1&tr_t=buy

This thread probably counts as moribund, if not dead, but I saw this point and wanted to add a "Hear, hear!" to this one - especially the "fisheye" trick, which makes me squint, trying to work out what the real proportions are.

Just to add one more feature which I really appreciate - the floor plan. There's more than one property which I would have written off, but a look at the floor plan has made me think that it might be worth a look. Of course, some properties, I've taken a good look at the plan and decided it wouldn't work for me, and not gone. But, then, if I had gone, then the layout would have ruled it out anyway, so I've saved you and me the time and trouble of an unprofitable viewing.

Like Stan I do wonder what's wrong with a place when they only show you the outside. The more photos the better, providing they are not duplicates (still quite common) or misleading (fisheye lens shots).

A good description helps too. I don't mean the "this incredibly wonderful property which stands out as a great family home in an incredibly beautiful setting." I mean, "Victorian terraced house in conservation area, close to shops." or, on a different scale "Bedroom 2 xm x ym (plus imperial measurements) two windows, one overlooking the back garden. Double radiator under the main window, TV and telephone socket, high ceiling with decorative cornicing. Built-in desk/storage." Plus a picture - even if it is the awful teenager's bedroom. I'm not going to be worried about teenage mess if I'm buying a house for my own messy teenagers! What's the point of dragging people in to a house which they think is going to be palatial, only for them to realise that's it dirty and pokey, even if you love it? Accurate descriptions need not tell all the awful truth, but it does help if they don;t actually mislead. And does anyone still believe that "viewing is essential"?

As for pricing - I tend to disregard the OIRO or OIEO. With prices generally on the slide, I regard all asking prices as negotiable - the only price descriptions I take seriously are the rare ones saying, "Fixed Price. No Offers." I do take a look at houses which are labelled as "reduced" - I'm a sucker for sale bargains - but that only takes me as far as looking at the details on RightMove, not actually viewing, unless the specs match what I'm after.

db

A BULL

Ithink you will find people are offering up to 30% off and getting it..shiny brochures...dont be silly..i am sure you are a ea

the price is probably not the first criteria that is considered........you are a fool

For me it has to be well taken photos and a floor plan you can actually read. It still amazes me that EAs using Rightmove use such awful pictures and if they upload a floor plan at all it is often so small you can't even see the dimensions.

Yes, it's intensely irritating.

And if it's a leasehold flat, I want to know length of lease and how much the service/maintenance charges are.
Amazing how many EAs don't include such basic info, and don't even have a clue when you phone to ask.

I looked at a leasehold flat last year where the vendors own the FH of the whole building, so it'll be a new lease.
When I asked how long it'd be, EAs said vendors hadn't decided yet.
I pointed out that this was the sort of thing potential buyers need to know, not a minor detail.

A year later, that flat's still on the market (reduced a whole 1.5%) - and the EAs STILL haven't a clue how long the projected lease is going to be.

Pretty much all EAs in my area never include leasehold info in their property specs although I think its part of the HIP requirements anyway to state length of lease and service charges.

Round here it is always - to be confirmed! Very annoying.

Price is NOT the first thing considered. The old adage "location ..." remains true. Take a look at RM, what's the first search term you look for? Just the other day saw a property I really fancied return to the market, and at a really good price. Mentioned it to OH, "If you think I'm going to live THERE, you've got another think coming." Fortunately I didn't need another think, since I'd worked out that the location ruled it out altogether. It's not just whether the area seems "nice" or not - there's distance from work, schools, shops, family etc and proximity to a motorway, an airport, a late-opening Chinese or local nightlife.

Then there's size - who buys a cheap house which only has two bedrooms when you have four children? And all the other things which mean people rule properties out before they look hard at the price. Fr'instance I won't go anywhere without a respectable broadband connection, some people rule out anywhere without a good sized garden, and for others being able to get a wheelchair to the front door is essential.

Particularly these days, price is so much negotiable that other factors become more important.

db

I agree with the majority of the posters in this topic. Whilst the "Pricing Description" will undoubtedly play a role, I think far more important is the standard of the brochure/advert. Poor quality photos are an immediate put off and really the whole industry is based around a generic formula for advertising descriptions. "We are pleased to welcome to the market this immaculately presented bla bla bla..." Look familiar?

Especially during the current reality adjustment marketers need to really put thought into these things so their own efforts are not lost amongst the plethora of dross out there.

As an investor price never really bothers me, It really all depends on the owner.

If i get the heads up from the gaent saying " well he's in financial difficulty and there is a deal to be done, well im interested" or if i see the property on the market for more than 6 weeks and then getting desperate with having every agent in london advertising it.
And like now its a great time for investors, why are people selling, people are worried, like they say be fearful when the market is greedy and be greedy when the market is fearful

imo if your not financially in trouble done be worried, you missed the boat but dont get me wrong another boat will be round but when no one knows.. but next time dont be greedy, if you want to make a tidy profit, make it but dont milk it cos like last time you missed it and it could happen again

words of wisdom from a 16yr old drop out from london

You should in theory provide Replies to Managing Agents Enquiries in the Home Information Pack. In practice these replies can cost your client up to £400 plus VAT and only last three months. Therefore you dont tend to obtain the replies under your have a buyer.

Re: the length of the Lease - If you look at the Office Copies of the Title (that are always in the HIP if the property is registered) they will give you the outline details of the Lease. You should have a copy of the Lease in the HIP as well.

I look for price and location. A garage is a must and a big garden would be a bonus, a concreted garden with a pond always goes straight in the no pile. Central heating rather than storage heating is another must.

In particulars I look for photos, room sizes (in imperial!!!!) and a floorplan is a necessity. I need to know how the house would flow with my kids. Also a power shower is also a big tick.

I also avoid any with a "price range", this just means that the seller thinks their house is worth alot more than it is and I am looking for big discounts (well I will in 2010 anyway)

Ok, but this is the sort of thing you want to know before you even go to view.

I only know of one EA (an independent) that invariably gives exact length of lease, current maintenance/service charges, and council tax band.
This EA also gives the full postal address, so you can check it on nethouseprices

Their blurbs are highly literate, too.
They're not too good at getting their vendors to drop prices, but one can't have everything.

To be honest not many people do want this information before they view. You are obviously more informed than most buyers. Most buyers find a flat they like and leave the solicitor to find out all the details. I see where you are coming from because the amount you are willing to pay for a flat must be based on how much the service charge is per month, so you can add the mortgage to the service charge figure to see what your monthly payments are. Most clients are thick though and most flat buyers (not all by any means) are young and quite often dont even know what service charge is.

Personally ,I detest the "offers in excess of " bit . I would rather the vendor just put the asking price and have done with it .
Floor plans are usefull ,but why do so many houses on "Rightmove" not have a picture of the garden on it ? The main selling point with me is the garden . If it's small , then I won't buy . End of story . I imagine some EA's believ that I (and those like me) will be so taken with the house ,that I will forget about the garden . Not so !!
So ,if you wanted me to go and view , enclose a pic of the garden ,and ,aproximate size .
Sorry to rant ,but it really gets up my nose !

Ok
Rant over

I agree, about the garden, I am sure they used to put the measurements of the garden on the particulars. I hate it when they just say "Gardens". I also look for a large garden and would not visit a house with a garden that is all concrete.

Your main problem still remains the fact that most buyers will expect to have some of the cost reduced i.e negotiation. So if you go less than the value of the house then you are probably going to get even less than your asking price