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karen1000

Ridiculous Offers

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Last year, before the crash, I sold a property. It didn't take too long, and at that time I actually received the asking price for the house (I'm sure today I would have to wait longer or drop a few K).

I was amazed (and perhaps naive) to receive some ridiculous offers even at the height of the boom. The asking and sale price was 153K but some (presumably) first timers offered 95K, and another joker 110K.

I'm about to sell another renovated terrace; it'll be interesting to see what offers I get. This time, however, I've told my agents to reject stupid offers, without even ringing me, but to keep a record of such offers.

Still, things are looking up. There's a glut of flats in the area and with the sky about to fall in on flats I may get another quick sale.

:D

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I'm about to sell another renovated terrace; it'll be interesting to see what offers I get. This time, however, I've told my agents to reject stupid offers, without even ringing me, but to keep a record of such offers.

Doubt you'll be hearing from your agents then :lol:

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Guest Charlie The Tramp
Still, things are looking up. There's a glut of flats in the area and with the sky about to fall in on flats I may get another quick sale.

Well there`s a surprise admission from a ramping bull, so it`s now flatpricecrash/karen1000.co.uk ;)

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Well there`s a surprise admission from a ramping bull, so it`s now flatpricecrash/karen1000.co.uk ;)

I guess that means that Karen1000 is under investigation by the Special Moderator Service.

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It is easy to sell in a rising market. You advertise at above market value and after a few weeks or months the market catches up with you and you sell.

In a falling market it is the reverse. You advertise at an attractive price and sell straight away. If you don't sell straight away then you have a problem and the property gets stuck. Each time you reduce the price the market has already fallen further.

So if Karen's asking price is attractive when compared to others that have sold recently then she should get a quick sale and would be right to reject silly offers.

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It is easy to sell in a rising market. You advertise at above market value and after a few weeks or months the market catches up with you and you sell.

In a falling market it is the reverse. You advertise at an attractive price and sell straight away. If you don't sell straight away then you have a problem and the property gets stuck. Each time you reduce the price the market has already fallen further.

So if Karen's asking price is attractive when compared to others that have sold recently then she should get a quick sale and would be right to reject silly offers.

I don't think she said anything about how the asking price was placed relative to other, similar properties. ;)

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I don't think she said anything about how the asking price was placed relative to other, similar properties. ;)

Good point. This year I'm pricing at ever so slightly below similar properties, aware that things are slower. I don't think the market would move up for me or anyone else at the moment.

I'm open-minded, I may indeed get no offers but if that's the case I'll hang on to it and rent it out. Perhaps the doom criers will say that I cannot get a tenant either!

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  • 336 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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