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House Price Crash Forum

TheBorrowers

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Posts posted by TheBorrowers

  1. Thanks for the replies. I had a local estate agent round yesterday, who agreed with me that the property was slightly overpriced, and I've instructed him to put us on the market at £135k with a hope of encouraging offers around the £130k mark. I enquired with my current EA (the one out of town) about fees etc now that I have 2 agents, and they informed me that if I stick with 2 agents, they are putting their fees up from 1.2% to 2%+vat!!!! Wow, what a hike! After sitting with my calculator I'd be better off dropping them altogether even though I'll incurr a withdrawl fee of £250, I dont understand why they've upped their percentage? That was a costly mistake I made before I even start....not enjoying this much at all and I was so excited when I first decided to start the ball rolling.

  2. You may be a victim of the oldest trick in the Estate Agent's book.

    They value the house at an inflated price to get the seller on the books. Then after no interest they go back with a sob story that the market has changed etc etc and suggest a price reduction is appropriate.

    They sell it for (much) less, but still get their commision. Surprised people still fall for it.

    Buy the way, who valued your house. Was it an Estate Agent with vested interest or an independant valuer?

    Perhaps we can make a more informed contribution if you tell us how much you paid for it and when, and if you have carried out any significant improvements.

    It was valued by an estate agent, I told them that I wanted it priced to sell, that I wasn't out to make a huge profit etc. I paid £117k for the house back in 2004, and have since had a new good quality kitchen refub, and a brand new combi boiler, new double glazing and general tyding and modernising (was owned by an elderly couple previously).

  3. I have sympathy for people who are pricing their houses reasonably and still struggling to find buyers. While there are precious few of those types of sellers around, we don't know that the OP isn't one.

    I have no idea if my house is overpriced....I don't think it is?? I had it valued at £140,000 and have put it on the market at that, hoping to get an offer of around £130,000. I'm not greedy, I don't want to make a huge profit, just enough to buy my next house. I don't have any family or anyone to ask advice on these matters, thought someone might be able to answer a simple question for me. Obviously not here.....

  4. Hi all, first post....

    I put my house on the market just before Christmas, and obviously wasn't expecting anything much to be happening for a while. However I'm getting disheartened every passing day when my phone doesn't ring and there hasnt' been a single viewer or enquiry!! The estate agent we're using is based in a town about 20 miles from us, I used them because they dealt with our last sale very smoothly. I'm wondering.....would I be able to use another agent too, a more local one to get the 'passing trade' and window shoppers? Would I incurr two lots of fees, or would it be a no sale no fee thing? I'm not very good with all this, sorry!

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