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ChumpusRex

Family Member Left An Ea Speechless

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My Nan has decided that she can't live on her own any more, and wants to move into a resi home. So, it's come up to my mum to arrange the sale of the flat. She ended up phoning me to rant about the EA showing total lack of interest.

The conversation had gone something like this:

EA: I think you should ask for £180k. This will give you some bargaining room as buyers will be looking to offer under asking.

M: I think we need to go a bit higher.

EA: OK. £185k is possible.

M: I was thinking £210k.

<Very long pause>

EA: How soon are you looking to sell?

M: It's not urgent.

EA. OK. I will list it at that price, but if we don't get any interest, would you consider reducing the price...

Bear in mind that the most any of these flats have gone for was £170k at that was at their new-sale in early 2007. More recently, they've been selling for £145-150k. These are typical 2007 new-builds, with tiny rooms, zero storage space and in a pretty grim area in the SE, directly opposite an industrial estate.

Obviously, I'm very keen to get the best possible price, so I've not kicked up a fuss. But that asking price is utterly delusional in my view (although I'll be very quick to eat my words if it does indeed attract any interest).

Edited by ChumpusRex

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My Nan has decided that she can't live on her own any more, and wants to move into a resi home. So, it's come up to my mum to arrange the sale of the flat. She ended up phoning me to rant about the EA showing total lack of interest.

The conversation had gone something like this:

EA: I think you should ask for £180k. This will give you some bargaining room as buyers will be looking to offer under asking.

M: I think we need to go a bit higher.

EA: OK. £185k is possible.

M: I was thinking £210k.

<Very long pause>

EA: How soon are you looking to sell?

M: It's not urgent.

EA. OK. I will list it at that price, but if we don't get any interest, would you consider reducing the price...

Bear in mind that the most any of these flats have gone for was £170k at that was at their new-sale in early 2007. More recently, they've been selling for £145-150k. These are typical 2007 new-builds, with tiny rooms, zero storage space and in a pretty grim area in the SE, directly opposite an industrial estate.

And the madness continues!

Obviously, I'm very keen to get the best possible price, so I've not kicked up a fuss. But that asking price is utterly delusional in my view (although I'll be very quick to eat my words if it does indeed attract any interest).

Bloody part time HPC'ers :P

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The problem with older sellers is that for most of their lives they have experienced high house price inflation, so they now rely on it. Unfortunate for them that that has now stopped.

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it is not 'the nan' who is going into a residential home who is setting the price but the 'offspring' that is who is unreasonable.

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I wonder if anyone keeps stats on the difference between asking and selling prices?

Didn't someone on here compile a 'Delusion Index' doing exactly that? Would be interesting to see how the stats are progressing...

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I wonder if anyone keeps stats on the difference between asking and selling prices?

No one officially keeps stats.

Round my little bit of BH15 B'mouth/Poole it's been approx 10% difference over the last few years..

Edited by juvenal

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Recently my neighbours' (about 70 retiree, living alone in a council 3 bed detached house) fence got two posts broken by the wind. Fence is 1.2m high with 3m horizontal rails and vertical planks. As its on our south side it keeps a narrow band in constant shade.

I spoke to her and offered to take down the fence panels, repair the posts and reinstate the fence with green chainlink. That would dry the land and stop the rot. Both benefiting. Initially she said yes, then I moved to buy the chainlink and hardware plus two posts. On the next weekend I went to give a customary call that I will be starting.

She replied: Oh, I want my fence. I paid 2k in 2000 to put it up. You can build your chainlink on your side. Obviously they value their values.

P.S. I have 20m roll of chainlink, coated in green PVC with cable and hundreds of staples. Will sell at just under cost :)

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