Estate Agents are that desperate

[BoredBloke]

To be honest, if i were in your position I'd just rent the thing out for a while until things get better - it's not costing you anything is it.

[cojak]

And the estate agents commission is based on the purchase price. Funny that.

That's my point really, Dim - talk about having their cake and eating it...

Hubby will probably reduce it a bit more or let it out (the market for renting still hasn't collapsed around here...)

But he won't be fannying around with paying them to take it off his hands with no reduction in commission to them...

(PS. while his mum was a lovely woman, she died at a damned inconvenient time.... :-/ )

[DimPrawn]

Seems to me you'd be helping the buyer commit fraud. You're stating the house at a higher value for the mortgage company, Land Registry etc. than they actually paid.

And the estate agents commission is based on the purchase price. Funny that.

[AtW]

Seems to me you'd be helping the buyer commit fraud.

+1.

[VectraMan]

"It's only a paper-shuffling exercise!"

Seems to me you'd be helping the buyer commit fraud. You're stating the house at a higher value for the mortgage company, Land Registry etc. than they actually paid.

[Bob Dalek]

Happy to chase the market to the bottom then? I would not bother with gimmicks like that, just drop the price by 15-20% if you want shot if it quickly otherwise the prawn will be right, the house will still be yours in 5 years time.

Your house will have to be exceptionally well priced (i.e. cheap) in a market where morgage agreements are down 70% on last year...

House worth £250k now will be worth £245k next month and £230k by Xmas. This time next year could be around £185k. Can't see anything levelling off this "correction" now, a long way to fall until property is affordable again.

I sort of agree, but wonder if a gimmick like paying the Stamp Duty might put the brakes on the buyer asking for a big reduction in sale price? Actually, I couldn't care less and am off to exterminate some tramps in Hammersmith.

[ferret]

We ain't as desperate as they are

Happy to chase the market to the bottom then? I would not bother with gimmicks like that, just drop the price by 15-20% if you want shot if it quickly otherwise the prawn will be right, the house will still be yours in 5 years time.

Your house will have to be exceptionally well priced (i.e. cheap) in a market where morgage agreements are down 70% on last year...

House worth £250k now will be worth £245k next month and £230k by Xmas. This time next year could be around £185k. Can't see anything levelling off this "correction" now, a long way to fall until property is affordable again.

Is this part of a deceased account? If so my condolences to your family but also bear in mind that if the house smells of old people and needs updating then I stand by 15-20% off, if in good nick then 10-15% now may do it. Market falling rapidly so no time to fanny about laughing at what you think are ridiculous suggestions from the EA. Drop it to the point where you get active interest in the property and sell as quickly as possible!

[Bob Dalek]

I think it's sensible, assuming that your property is in an area where sales are dead in the water. It's just a selling ploy.

[BrilloPad]

I am sure I read the other day that sellers of larger properties (500k plus) were buying houses at bottom of chain (about 100k) to keep things moving.

With further house price falls - why would anyone buy now?

[DimPrawn]

that they've suggested that we (the sellers), pay for the buyers deposit!

"It's only a paper-shuffling exercise!"

Yeah? then you give them the frickin' money..

We ain't as desperate as they are

(Hubby and siblings have a house willed to them from a relative)

All they are saying is that it is now very firmly a buyers market. You have two choices. Lower the price (same as paying the buyers deposit) significantly or completely fail to sell the property for at least 5 years.

Choice is yours.

HTH

[Moose423956]

I trust your reply was long the lines of "Two words, the second word is OFF". Bloody cheek.

Edit: with my avatar thrown in for good measure.

[cojak]

that they've suggested that we (the sellers), pay for the buyers deposit!

"It's only a paper-shuffling exercise!"

Yeah? then you give them the frickin' money..

We ain't as desperate as they are

(Hubby and siblings have a house willed to them from a relative)