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Harold Bishop

Status Changed: Under Offer To Available ( So Lets Increase The Price)

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I've seen a lot of this recently, the reasoning being, of course, that in the 2 months that the property has been off the market as sstc it has obviously gone up in value, becasue that what property does (ignore the fact that the sale probably fell through as the bank valuation didn't match the selling price). The one's I've seen generally either get reduced again pretty sharpishly or simply disappear off the market.

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I suspect there's some psychological explanation for this behaviour

Something about compensating for the lack of interest in your property by raising the price to convince yourself it's worth what you think it is

(and if you have no interest you can't sell, and if you can't sell you don't have to face the reality of what it's really worth)

Edited by wealthy

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Deluded. They're probably doing it to try to avenge the buyer who dropped out, thinking that getting a higher offer will show them what they're missing.

It's the homeowner version of getting tarted up and belting out, "I Will Survive."

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Here's similar from my area of interest, (although no sale has taken place!) now on its third listing.

Started at £450k in Nov 2009, dropping to £400k in Sept 2010, listing canceled Jan 2011:

http://www.rightmove.co.uk/property-for-sale/property-27670742.html

Re-appeared Feb 2011 with a hike to £440k, disappeared end March 2011:

http://www.rightmove.co.uk/property-for-sale/property-29142403.html

Re-appeared again April 2011, now £435k:

http://www.rightmove.co.uk/property-for-sale/property-18614685.html

Although no sale was done, the vendor clearly thinks the agents are the problem, not the price. I mean, it has to be worth £440k, right? :rolleyes:

These are the sort of 'sellers' an agent wishes would not walk through the door.

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There may have been multiple bids leading to a final offer which was accepted that was higher than the asking price which then fell through.

Then the seller set the new asking price at this level, having tested the market.

Not the biggest intellectual leap in the world.

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There may have been multiple bids leading to a final offer which was accepted that was higher than the asking price which then fell through.

Then the seller set the new asking price at this level, having tested the market.

Not the biggest intellectual leap in the world.

No, that's called an intellectual contortion.

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Spotted one of these myself recently. Went SSTC @ 250k for three months then appeared again minus the SSTC for 260k.

People need to be taught how to spot this. The more people who know how to find this out the less likely they will be duped into paying these prices by the chancers.

There needs to be a standard valuing measure people can apply to reach a reasonable price.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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