Be Cautious When Lowering the Price of Your Home
In today’s property market it’s a likely scenario that your property may remain on the market unsold for quite a while. If you are looking to sell your house fast there are few different things you can try in order to improve your chances of selling quickly. The most common option and because “money talks” is to simply lower the price of your home. In fact many estate agents would generously value your home in order to gain your business, only to suggest it should be more “realistically priced”. Of course the estate agent would have known this from the start but he needs to save some grace and it will likely be a couple of months of a complete lack of viewers until this route is suggested.
Should you lower the price of your house?
This question is your decision. I’m sure an estate agent will encourage you to lower the asking price, he just wants a sale at the end of the day and it’s better to have something rather than nothing. Also, in today’s market buyers understand that it’s a buyers market and everyone wants a bit of a deal.
Think twice before you lower the price for this reason
Once you Drop the asking price for your home there is no turning back. Basically you cant decide to lower the price of your home for a couple of weeks, change your mind and put the price back up and here’s why. Let’s say for example your house was on the market for £110,000 you lower the price to £99,000 but then change your mind and put it back up to £105,000. hey presto you agree a sale at £105,000. Now your purchaser will likely be buying with a mortgage. the mortgage lender will send a RICS surveyor round to value your house. One of the first places a Surveyor checks is a section of the website Rightmove called Rightmove Plus. Here the surveyor can see all the historical prices your house has been advertised at. Now the bank believe it’s they who are buying the house. They will simply say this was advertised a couple of months ago for 99k we’re not paying 105k.
“Bottom line you cant sell your house for anymore than the lowest price it’s been recently was advertised at”
“YouSellQuick gave me a very good deal and helped me through the whole process.”
“I got exactly what they offered in my bank account, nothing less, no extra fees or commissions.”
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