Dropping house sale price adice please

[chickadee1976]

Our flat is currently on the market at offers over £67,000 we were hoping to get £70,000 for it but this is looking unlikeley in the market at the moment.

We are going to change it to fixed price but not sure what to put it on at.

I was thinking of putting it on at £68,500 and then if still nothing happens it means we have a bit of leeway to drop the price by.

But is it a waste of time and should i just put it on cheaper just now.
I just want rid of it so we can pay the debt off, but on the other hand dont want to lose out on any profit there may still be to be had

 

[jennywren]

Whats the very lowest you can let it go for?

Are there any others in your block or surrounding areas up for sale?

 

[chickadee1976]

Everything around us is up for sale just now, there isnt a street without a for sale sign in it.

There are no others like ours for sale.

There are two other 3 bed flats for sale in our town, one in in a worse area and needs work on at 0ffers over £62500, and the other is in a slightly nicer area but looks smaller at offers over £69,000.

Id be happy with fixed price of £67,000 and then be able to drop it perhaps to 65 but i think brian want to try and get another couple of grand out it so we can go on holiday

 

[jennywren]

Everything around us is up for sale just now, there isnt a street without a for sale sign in it.

There are no others like ours for sale.

There are two other 3 bed flats for sale in our town, one in in a worse area and needs work on at 0ffers over £62500, and the other is in a slightly nicer area but looks smaller at offers over £69,000.

Id be happy with fixed price of £67,000 and then be able to drop it perhaps to 65 but i think brian want to try and get another couple of grand out it so we can go on holiday

Sounds like my OH lol. I know your in scotland so its different with the offers over thing, but if your doing it on a fixed price cause you want rid DONT add the extra 2 k on as you want a holiday - trust me after 18 months on the market because the EAs told us it was worth between £110k and £118k we fell short!

Ours was valued £110k to £118k and new builds were £130k (yes for 1 bed!) so we tried our luck at £117k (for a holiday, new TV etc lol) and after 6 weeks not a viewing, so we dropped to £115k a few viewings but no offers so after 6 months dropped to £110k again veiwings but no real interest another 6 months and we drop to £107k - no interest, so we give it a final drop of £102k and had an offer of 99k which fell through 4 days before completion, then an offer of £97k (we paid 99k!! ) which completed last month!

The moral is if 18 months ago we a) didnt listen to the EAs and b) try and get money for holiday and new things and put it straigh on at £105-£110k it probably would have sold no problems, certainly would have got £105k 18 months ago but by the time we dropped it, people were getting worried! so we ended up loosing 2k!

So I would put it on at the £67k with a view to getting £65k for it! (dont put Offers in the region of either as people see that as your desperate and will offer really low!)

 

[daftscotslass]

Everything around us is up for sale just now, there isnt a street without a for sale sign in it.

There are no others like ours for sale.

There are two other 3 bed flats for sale in our town, one in in a worse area and needs work on at 0ffers over £62500, and the other is in a slightly nicer area but looks smaller at offers over £69,000.

Id be happy with fixed price of £67,000 and then be able to drop it perhaps to 65 but i think brian want to try and get another couple of grand out it so we can go on holiday

I'd say go what you're happy with. Fixed price places seem to be shifting well at the moment. I was chatting to my mortgage advisor in the street randomly last week and he was saying that fixed price properties are being snapped up by first time buyers. First time buyers are finding it harder to get mortgages which means that they can't get into bidding wars on properties on the "offers over" system.

I say go for the £67k f/p and see what happens.