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neon tetra

'priced To Sell'

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I have seen "PRICED TO SELL" on a number of properties, some of which have had a reduction already. What does it mean? Are other properties priced to stay unsold for a while?

I am guessing either...

  1. reduced as much as they can, and no more reductions possible, or
  2. just trying to get rid of it, so make offers...

Any thoughts, based on experience or otherwise?

Edited by neon tetra

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I have seen "PRICED TO SELL" on a number of properties, some of which have had a reduction already. What does it mean? Are other properties are priced to stay unsold for a while?

I am guessing either...

  1. reduced as much as they can, and no more reductions possible, or

  2. just trying to get rid of it, so make offers...

Any thoughts, based on experience or otherwise?

Roughly translated it means, "200k for a 2 bed converted garage down-wind of the sewage works is a bargain, you grubby little oiks. You should be grateful we consider taking your second rate money at all!"

Personally, whenever I see, "PRICED TO SELL," I'm thankful we have such astute professionals to tell us exactly how much a house is worth. Who knows what kind of offers the poor vendors would be subject to without the EA's tender guidance.

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Psychological attempt at making potential purchasers think the place is a bargain. It isn't, offer 25% below and walk away if they don't drop 15% minimum.

- Initially advertised at 2005 sold price, back in August.

- Currently advertised 8.5% off that.

- Vaguely considering an offer of 6% off current price (total of 14% off 2005 price).

Difficult to know if this represents good value. The HPCer in me says 25% off 2005 value would be good, but that the owners would not sell at that...

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It means that the vendor has realised that the market is falling apart.

They are willing to make a small concession with respect to price to jump to the head of the queue of potential sellers.

The crash will evolve nicely when many vendors take this approach rather than a few of them.

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I have seen "PRICED TO SELL" on a number of properties, some of which have had a reduction already. What does it mean? Are other properties priced to stay unsold for a while?

I am guessing either...

  1. reduced as much as they can, and no more reductions possible, or
  2. just trying to get rid of it, so make offers...

Any thoughts, based on experience or otherwise?

"Priced to sell" = "Looking for a sucker who will pay over the odds thinking he got a bargain".

This trick's as old as the world.

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Psychological attempt at making potential purchasers think the place is a bargain. It isn't, offer 25% below and walk away if they don't drop 15% minimum.

eh?

It's mainstream media headlines - prices are going to drop 20-25% in 2011.

You should go in at 35-40% and walk away at 30%

(caveat "As long as nothing major is found wrong with the house")

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The price is just a listed price, doesn't mean it will sell. A selling price is whatever someone is willing to pay for it, so presumably this "priced to sell" means that many people will be willing to pay for it - BUT it could just be a marketing ploy to get dumb buyers to say "DUUURRRH bargain!" and its actually 20% higher than the reasonable price that not many would be willing to pay.

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The more of these "houses to fall 10%" articles there are, the more the current owners should be softened up to the idea of accepting a lower offer.

When is the capitulation stage? Bring it on!

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It means fook all.

It's just a piece of marketing speak used by unimaginative estate agents who need to be seen to be doing something by their clients to justify their existence.

If one house in an agent's portfolio is 'priced to sell' what does it tell you about all the others?

Ignore it and offer what you think the place is worth.

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Priced to sell - I've been trying to sell it for quite some time now. I'm getting fed up. Buy it off me, ffs!!

So if it doesnt say, "Priced to Sell", then presumably it is listed just to show us all what we cant afford.

Cant blame anyone for doing that, if I had any stuff you lot couldnt afford I would be waving it around in your faces as well.

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  • 309 Brexit, House prices and Summer 2020

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