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Fruit Gum.
Beginner May 2007

Anyone putting house on market at the moment?

Fruit Gum., 8 July, 2008 at 11:23 Posted on Off Topic Posts 0 8

We've just had a valuer come to look at our house as we're looking to move. I was really disappointed with the valuation, it's even less than next door sold for 2 years ago - despite us having a bigger house and a driveway. I know I need to be realistic, over priced house for the current market won't sell and we do want to. But it was very disheartening. I was wondering if anyone else was in the same position, and having to lump it?

Also, the fees seem extortionate, stamp duty and HIPs on top. Gawd!

8 replies

Latest activity by Fruit Gum., 8 July, 2008 at 12:36
  • O
    Beginner
    Oh Zippy ·
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    Yep, we've just accepted an offer on ours. It's 20k less than it was valued four months ago.

    That said, the house we wanted to by four months ago has come down by £30k (and has now just dipped under the next stamp duty bracket) so all in all we're not too bothered. I'm not looking forward to trying to complete the sale in a falling market though.

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  • Taffie
    Beginner July 2007
    Taffie ·
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    Yep, we went on the market about 4 weeks ago. We bought our house 2 years ago, and it's marketed at £50 less than we paid for it ?. Obviously we would love full asking price, but that rarely happens. We knew from looking around before the valuations what we were roughly looking at. So, it wasn't a shock, but still disappointing in a way.

    The house opposite is identical (we're new builds) and went for 15K more last year. It's even more difficult in our area, as there are still new builds selling, and developers can afford to knock a bigger chunk off than we can.

    What sort of fees have you been quoted?

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  • O
    Beginner
    Oh Zippy ·
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    One tip from me is to choose your estate agent carefully if you decide to go ahead.

    5 years ago, house sales were so good that almost anyone could sell anything: I think many estate agents took their eyes of the ball and stopped enforcing standards.

    In this market you need people who can sell and have got motivation and standards. We've found this (in Cheltenham) with one of the independent estate agents - we certainly didn't have it with one of the big chains.

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  • barmy bird
    barmy bird ·
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    Check out WOWproperty.co.uk no sale no fee, free valuation and also no matter what the value of your house is their fixed fee for selling is £999. They are soley internet based but advertise on over 100 property portals including Rightmove etc

    Sorry cheeky little advert there for them but if it helps save people money?

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  • jelly baby
    jelly baby ·
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    Yesterday I would have said no. But today it's a maybe.

    Our perfect house, that we've wanted to buy for 2.5 years has come on the market. It's more than we really want to spend, and we'll get less for this house than we would have a year ago - but the location of the other one is perfect.

    H is speaking to the bank at the mo - although he wants to rent out our current house rather than selling, so that's what he's talking about. I'm not sure about that but will leave that up to him.

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  • fox-in-socks
    Beginner May 2006
    fox-in-socks ·
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    Yep, we have reduced the price twice and now have a couple of buyers interested plus one couple who might take it on longterm rent.

    it's a pain, but if you are upgrading then the percentage drop should work in your favour anyway.

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  • L
    Beginner
    Lady Gooner ·
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    We had a couple of valuations a couple of weeks ago. We were interested in buying a place around the corner but once we saw the EAs we changed our minds. We bought our house two and a half years ago and they valued it between £25-30K less than we paid for it. They saw our problem as more a case of getting people through the door, not so much the house wasn't 'worth' it (I know it's only worth what someone will pay). There are several of our house types for sale, although ours is much better e.g. is a semi not terrace, has a garage and long drive, they valued it less than the ones on the market. Also builders are offering such good incentives people are going for new builds.

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  • Hello Sunshine
    Beginner
    Hello Sunshine ·
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    Yep - ours went on in January and we've just accepted £25k (or 15%) less than we put it on the market for. It's a falling market unfortunately and it is galling but thems the breaks. As soon as we dropped our price considerably it sold (and I mean within days), after sitting there with no interest for ages. We thought we had priced it reasonably anyway - our starting price would have been a real bargain a year ago.

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  • Fruit Gum.
    Beginner May 2007
    Fruit Gum. ·
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    Thank you for all the replies. It's been encouraging to read your experiences and I really do hope that the margin stays the same within this type of property and the property we're buying, i.e. those house prices go down too.

    Is there ever a right time to buy/sell a house?

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