Houses

[Fox in the North]

Put our house up for sale as my wife and I have (sadly) benefited from some inheritance. It’s our first house sale so forgive me if I’m naive at any point in this post. Been on the market for nearly a couple of months now but yet to have an offer. I don’t think we’re overpricing in comparison to other houses in the area and think it’s just a simple case that the right buyer hasn’t found our property yet.

 

We’ve received a letter from a company called National Home Buyers offering to buy our house. Having had a quick google I’m quite dubious about company as it seems they’ll just offer way under the asking price. Has any one else dealt with this company or with similar ones?  Am I right to be dubious or should I see what they can offer?

[Costock_Fox]

6 minutes ago, Fox in the North said:

Put our house up for sale as my wife and I have (sadly) benefited from some inheritance. It’s our first house sale so forgive me if I’m naive at any point in this post. Been on the market for nearly a couple of months now but yet to have an offer. I don’t think we’re overpricing in comparison to other houses in the area and think it’s just a simple case that the right buyer hasn’t found our property yet.

 

We’ve received a letter from a company called National Home Buyers offering to buy our house. Having had a quick google I’m quite dubious about company as it seems they’ll just offer way under the asking price. Has any one else dealt with this company or with similar ones?  Am I right to be dubious or should I see what they can offer?

I haven’t but any process where a company will buy something from you that can be sold privately will inevitably offer you well below what you can get on the open market.

 

Think we buy any car.com but with houses.

Edited 19 March 2021 by Costock_Fox

[FoyleFox]

2 minutes ago, Fox in the North said:

Put our house up for sale as my wife and I have (sadly) benefited from some inheritance. It’s our first house sale so forgive me if I’m naive at any point in this post. Been on the market for nearly a couple of months now but yet to have an offer. I don’t think we’re overpricing in comparison to other houses in the area and think it’s just a simple case that the right buyer hasn’t found our property yet.

 

We’ve received a letter from a company called National Home Buyers offering to buy our house. Having had a quick google I’m quite dubious about company as it seems they’ll just offer way under the asking price. Has any one else dealt with this company or with similar ones?  Am I right to be dubious or should I see what they can offer?

 

We received a letter from a similar company - a "we can buy your house for cash" type?  I did call them, they will offer a cash deal for about 75 - 85% of your listed price. Alternatively, the one I spoke to just wanted us to sign up with their estate agency. New photo's, new listing etc, for more than twice the price we're paying our current agent. Full sales pitch about their abundance of great buyers ready to agree a sale...I politely declined.

[newfox1]

I'm on the buying side myself at the moment . Will be veiwijg a house that's been on sale for 6 weeks and no offers received according to the agent so at least honest from their side for once.

 

This agent is known to over price and then reduce .  House is 230k, I'll offer around 205. Would that be taking the mick? Very similar homes have sold for 200 a month ago too in just as good nick. Would love your thoughts.

[Leicester_Loyal]

6 minutes ago, newfox1 said:

I'm on the buying side myself at the moment . Will be veiwijg a house that's been on sale for 6 weeks and no offers received according to the agent so at least honest from their side for once.

 

This agent is known to over price and then reduce .  House is 230k, I'll offer around 205. Would that be taking the mick? Very similar homes have sold for 200 a month ago too in just as good nick. Would love your thoughts.

I doubt you'll get it for 205, but you'll probably end up meeting them in the middle, 215-220 or so.

[Unabomber]

Sold mine this week and they want to complete end of June. I just can’t find anywhere at all atm though. Seems to be very slow with new houses coming on the market. When houses are coming on they are either getting snapped up asap or are sitting there for months.

[kingcarr21]

13 minutes ago, newfox1 said:

I'm on the buying side myself at the moment . Will be veiwijg a house that's been on sale for 6 weeks and no offers received according to the agent so at least honest from their side for once.

 

This agent is known to over price and then reduce .  House is 230k, I'll offer around 205. Would that be taking the mick? Very similar homes have sold for 200 a month ago too in just as good nick. Would love your thoughts.

No harm in making an offer of 205, but you need to do your research and give reasons as to why your offer is low. Perhaps an old boiler, no local shops or bus stops etc. Put doubt in their minds that their valuation is too high. Worth a try.

 

On another note the house I'm buying is close to being ready. Contract to be signed and exchange of monies. Still pushing for 29th March for completion. Which would be perfect as the wife is off from work during half term. 

 

[newfox1]

23 minutes ago, Leicester_Loyal said:

I doubt you'll get it for 205, but you'll probably end up meeting them in the middle, 215-220 or so.

Was checking the official  land registry prices and houses that were on sale for the same sort of time, 6+ weeks, some  were sold for around 200 with an asking of 220k so taking hope from that. Wouldn't be prepared to buy in that area for 210 though.

 

Same , not as many homes on for decent value so just gonna bite the bullet and take something half decent.

[FoyleFox]

21 hours ago, newfox1 said:

Was checking the official  land registry prices and houses that were on sale for the same sort of time, 6+ weeks, some  were sold for around 200 with an asking of 220k so taking hope from that. Wouldn't be prepared to buy in that area for 210 though.

 

Same , not as many homes on for decent value so just gonna bite the bullet and take something half decent.

Definitely the way to go. The one we're buying was priced at the ceiling for property recently sold in the area, although it is larger than those but needs a complete refurb. We told the agent we knew the recent sold prices and that new kitchen, bathroom were required. Started at £25k or £30k under and negotiated from there.

 

@Fox in the NorthCoincidentally, received another letter today to buy the house. ExpressOffers these are called, which they advised was a front for ExpressAgents.

[Nalis]

I'm selling my flat, got two valuations for the same amount as we'd want that figure or £5k less at worst as I'm not prepared to listen to any

 

One agent's approach is to put it on £5k over the valuation, the other wants to put it on for the valuation. The valuations they've given are very reasonable and fair for us and the buyer when looking at the local market (in my opinion).

 

Torn between which tactic to go for to get the valuation price or slightly below. Having a guide price at the valuation could be honest and not put people off but at the same time I dont want to attract pisstakers.

 

One slight issue is that a property with the same floor plan as us in the next block is under offer for about 40k below ours. It was a lower spec, an owner that died and with no outside space but reckon some naive folk who will use the price of that flat as justification for bidding way below our valuation. Luckily there is a confirmed sale in the same block with slightly less spec for just under our valuation.

[RonnieTodger]

Placed an offer on a house at 5k below asking. It’d been on for over a month and had no offers, then we get the old “there’s been another offer” less than a day after we put ours in. 
 

Either they’re full of shit or they’ve been calling up viewers, to drum up competition.

 

Either way, estate agents are *****. 

[FoyleFox]

24 minutes ago, Nalis said:

I'm selling my flat, got two valuations for the same amount as we'd want that figure or £5k less at worst as I'm not prepared to listen to any

 

One agent's approach is to put it on £5k over the valuation, the other wants to put it on for the valuation. The valuations they've given are very reasonable and fair for us and the buyer when looking at the local market (in my opinion).

 

Torn between which tactic to go for to get the valuation price or slightly below. Having a guide price at the valuation could be honest and not put people off but at the same time I dont want to attract pisstakers.

 

One slight issue is that a property with the same floor plan as us in the next block is under offer for about 40k below ours. It was a lower spec, an owner that died and with no outside space but reckon some naive folk who will use the price of that flat as justification for bidding way below our valuation. Luckily there is a confirmed sale in the same block with slightly less spec for just under our valuation.

Have you considered listing it as fixed price?

[Nalis]

15 minutes ago, FoyleFox said:

Have you considered listing it as fixed price?

Thanks, didnt know that was possible, I take it it isnt an obligation to stick with it if someone goes slightly under?

[Fox in the North]

On 19/03/2021 at 18:35, Costock_Fox said:

I haven’t but any process where a company will buy something from you that can be sold privately will inevitably offer you well below what you can get on the open market.

 

Think we buy any car.com but with houses.

 

On 19/03/2021 at 18:37, FoyleFox said:

 

We received a letter from a similar company - a "we can buy your house for cash" type?  I did call them, they will offer a cash deal for about 75 - 85% of your listed price. Alternatively, the one I spoke to just wanted us to sign up with their estate agency. New photo's, new listing etc, for more than twice the price we're paying our current agent. Full sales pitch about their abundance of great buyers ready to agree a sale...I politely declined.

 

1 hour ago, FoyleFox said:

Definitely the way to go. The one we're buying was priced at the ceiling for property recently sold in the area, although it is larger than those but needs a complete refurb. We told the agent we knew the recent sold prices and that new kitchen, bathroom were required. Started at £25k or £30k under and negotiated from there.

 

@Fox in the NorthCoincidentally, received another letter today to buy the house. ExpressOffers these are called, which they advised was a front for ExpressAgents.

A buyer’s ears must have been burning! We’ve had a good offer today and we’re just waiting to see if they are willing to pay a little more. We’ve then put an offer in on the house we wanted and they’ve accepted our first offer which was a massive surprise!  

[FoyleFox]

3 minutes ago, Nalis said:

Thanks, didnt know that was possible, I take it it isnt an obligation to stick with it if someone goes slightly under?

I don't know to be honest, but I've seen a number of houses listed as fixed price, they weren't ones we proceeded with though. I'd assume not as it's your house. Certainly worth discussing with the agent.

Edited 20 March 2021 by FoyleFox

[Nalis]

1 hour ago, FoyleFox said:

I don't know to be honest, but I've seen a number of houses listed as fixed price, they weren't ones we proceeded with though. I'd assume not as it's your house. Certainly worth discussing with the agent.

Cool, yeah not mine as mine isnt listed yet and is in London.

[FoyleFox]

4 hours ago, Nalis said:

Thanks, didnt know that was possible, I take it it isnt an obligation to stick with it if someone goes slightly under?

4 hours ago, FoyleFox said:

I don't know to be honest, but I've seen a number of houses listed as fixed price, they weren't ones we proceeded with though. I'd assume not as it's your house. Certainly worth discussing with the agent.

 

2 hours ago, Nalis said:

Cool, yeah not mine as mine isnt listed yet and is in London.

Sorry, I meant I assume you can take a lower price than the fixed one, as it's your house, so your choice.

I'm definitely not moving to London, the prices in Leicester have been a shock compared to Northern Ireland. I'd need resuscitating if I looked at London prices

 

[Nalis]

29 minutes ago, FoyleFox said:

 

Sorry, I meant I assume you can take a lower price than the fixed one, as it's your house, so your choice.

I'm definitely not moving to London, the prices in Leicester have been a shock compared to Northern Ireland. I'd need resuscitating if I looked at London prices

 

Understood, yeah I guess regional house prices are all relative . Great or shit when moving between areas.

Edited 20 March 2021 by Nalis

[newfox1]

14 hours ago, RonnieTodger said:

Placed an offer on a house at 5k below asking. It’d been on for over a month and had no offers, then we get the old “there’s been another offer” less than a day after we put ours in. 
 

Either they’re full of shit or they’ve been calling up viewers, to drum up competition.

 

Either way, estate agents are *****. 

What did you end up doing then? I've seen one, asking 220k, offered 200, as v similar houses gone for this, I'll offer max 205, no offers after 5 weeks. I've made the first offer. Decent house too. 

 

Any offers I make though, I'll say it stands for a a week or less else I move on and sort of pressure them. If I get it, great, if not, I move on. No point getting too attached.

[RonnieTodger]

42 minutes ago, newfox1 said:

What did you end up doing then? I've seen one, asking 220k, offered 200, as v similar houses gone for this, I'll offer max 205, no offers after 5 weeks. I've made the first offer. Decent house too. 

 

Any offers I make though, I'll say it stands for a a week or less else I move on and sort of pressure them. If I get it, great, if not, I move on. No point getting too attached.

Yeah similar to you mate.

 

There’s one other party interested, so we’ve gone up another £2.5k. If it goes all the way to asking, we’ll bow out there.

 

Not that attached to the house, but fed up with looking now. Willing to call their bluff though. 

[newfox1]

15 hours ago, RonnieTodger said:

Placed an offer on a house at 5k below asking. It’d been on for over a month and had no offers, then we get the old “there’s been another offer” less than a day after we put ours in. 
 

Either they’re full of shit or they’ve been calling up viewers, to drum up competition.

 

Either way, estate agents are *****. 

What did you end up doing then? I've seen one, asking 220k, offered 200, as v similar houses gone for this, I'll offer max 205, no offers after 5 weeks. I've made the first offer. Decent house too. 

 

Any offers I make though, I'll say it stands for a a week or less else I move on and sort of pressure them. If I get it, great, if not, I move on. No point getting too attached. 

[RonnieTodger]

Can't even get a viewing now, this is ridiculous.

[Leicester_Loyal]

Had an offer accepted on a house last week, chuffed to bits, praying that it all goes well

[TiffToff88]

It's a crazy market at the moment. Took me ages to sell my 3 bed semi in syston (although it was complicated by being shared ownership) but my sister put her 2 bed semi (Also in Syston) on the market last friday morning for £200k and it was sold within 24 hours for £205k

[Leicester_Loyal]

19 minutes ago, TiffToff88 said:

It's a crazy market at the moment. Took me ages to sell my 3 bed semi in syston (although it was complicated by being shared ownership) but my sister put her 2 bed semi (Also in Syston) on the market last friday morning for £200k and it was sold within 24 hours for £205k

Was that the newbuild in Barkby Court? I remember seeing that, nice house.