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Had an offer

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    Had an offer

    On my flat. I put it up for sale very recently and before the brochure or HIP were completed, have had 2 viewings and an offer. I think at the peak of the boom my flat might have sold for £210K at a push and I have agreed £159,500. So that's around 76% of the peak of the boom price, or a 24% drop. It is a bit premature in the sales process to accept offers, but a bird in the hand etc.

    Next stop may be rentsville.

    Anyone know what the conveyancing costs are for selling only? The Estate agent is offering a 'special' price of around £550.

    #2
    Originally posted by TimberWolf View Post

    Anyone know what the conveyancing costs are for selling only? The Estate agent is offering a 'special' price of around £550.
    That sounds like an ok deal. Used to be you'd pay 0.5% but most sols will do a fixed price deal these days.
    ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

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      #3
      Originally posted by TimberWolf View Post
      Anyone know what the conveyancing costs are for selling only? The Estate agent is offering a 'special' price of around £550.
      I'd be inclined to ring round a few of the local solicitors and ask them for a quote, their conveyancing business will be quiet so they should be competitive. I would previously have said to check the web solicitors, but someone I know had a load of grief with one recently, unfortunately I'm beggared if I can recall which one it was.

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        #4
        I used http://www.conveyancing-warehouse.com/indexGPPC.html

        They were really good, and a lot cheeper than the estate agent quote.
        Originally posted by cailin maith
        Hang on - there is actually a place called Cheddar??

        Comment


          #5
          Originally posted by TimberWolf View Post
          On my flat. I put it up for sale very recently and before the brochure or HIP were completed, have had 2 viewings and an offer. I think at the peak of the boom my flat might have sold for £210K at a push and I have agreed £159,500. So that's around 76% of the peak of the boom price, or a 24% drop. .
          If you've had an offer so quickly are you not tempted to put it back on the market for £10k or £20k more? See what sniffs you get at that price?

          I understand taking a pricecut when you've been waiting for 6 months and you're desperate...but taking a lower price when it's offered before the place even goes in the brochure...aren't you doing yourself?
          The pope is a tard.

          Comment


            #6
            Originally posted by SallyAnne View Post
            If you've had an offer so quickly are you not tempted to put it back on the market for £10k or £20k more? See what sniffs you get at that price?

            I understand taking a pricecut when you've been waiting for 6 months and you're desperate...but taking a lower price when it's offered before the place even goes in the brochure...aren't you doing yourself?
            In ordinary times yes, but not today. It's 10k higher than an offer a guy in another flat in the block got a year ago and my buyer wants to move fast, which suits me. I think also that estate agents tend to put a flurry of work in at the start and then begin to lose interest and/or ask for a price reduction. And prices are dropping. I was surprised at its highish valuation to be honest, as I thought there would be few buyers offering much out there.

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              #7
              Originally posted by TimberWolf View Post
              In ordinary times yes, but not today. It's 10k higher than an offer a guy in another flat in the block got a year ago and my buyer wants to move fast, which suits me. I think also that estate agents tend to put a flurry of work in at the start and then begin to lose interest and/or ask for a price reduction. And prices are dropping. I was surprised at its highish valuation to be honest, as I thought there would be few buyers offering much out there.

              It just goes to show that you can get a good price if you have the right property. Well done !!

              Comment


                #8
                Originally posted by TimberWolf View Post

                Anyone know what the conveyancing costs are for selling only? The Estate agent is offering a 'special' price of around £550.
                Be vary wary of organising any conveyancing through an estate agent. Most of them will just pass your detail on to a local solicitor and charge 50% for the privelage.

                When I moved house in 2007, I paid 700 quid for conveyancing on both purchase and sale...
                Still Invoicing

                Comment


                  #9
                  Originally posted by TimberWolf View Post
                  I think at the peak of the boom my flat might have sold for £210K at a push and I have agreed £159,500. So that's around 76% of the peak of the boom price, or a 24% drop.
                  It might only be a 24% drop, but it would have to rise by nearly 32% to get back to £210K.

                  I blame Gordon Brown-o-nomics for that.

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                    #10
                    210 boom price should be around 170 now. But any buyer with any sense is pricing a further drop into their offer, so I think you'd be lucky to get that.

                    What were you asking (if I may ask)

                    tim

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