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Selling Price advice.

  • 20-03-2015 10:34am
    #1
    MetHerInSolas
    Registered Users, Registered Users 2 Posts: 122 ✭✭


    My story:
    1. Had 3 estate agents in to value my property.
    2. All came up with different figures so we decide to go for the estate agent whose valuation was in the middle.
    3. Last week we put my property on the market.
      This week my neighbours put their property on the market (its similar to mine) for €40,000 less than mine!
    Looks like my neighbours didn't shop around and went for the first estate agent their saw (as this estate agent valued my property at a similar price).

    Any advice/suggestions on what I should do next as I would like to sell ASAP?


Comments

  • #2
    stevedublin
    Registered Users, Registered Users 2 Posts: 980 ✭✭✭stevedublin


    MetHerInSolas wrote: »
    My story:
    1. Had 3 estate agents in to value my property.
    2. All came up with different figures so we decide to go for the estate agent whose valuation was in the middle.
    3. Last week we put my property on the market.
      This week my neighbours put their property on the market (its similar to mine) for €40,000 less than mine!
    Looks like my neighbours didn't shop around and went for the first estate agent their saw (as this estate agent valued my property at a similar price).

    Any advice/suggestions on what I should do next as I would like to sell ASAP?

    Your neighbour may be deliberately underpricing to generate interest for a quick sale or to stimulate a bidding war and get a higher price.


  • #3
    NinjaTruncs
    Registered Users, Registered Users 2 Posts: 2,538 ✭✭✭NinjaTruncs


    What is the percentage difference? If you are selling for 440 and then for 400 I wouldn't be too concerned.

    Condition will be a factor also, if theirs is in better condition the price difference could be an issue however if yours is in better condition again it may not be an issue.

    Also as the poster above said theirs may be listed low to generate interest in the hope that they can generate a bidding war.

    Finally have you any other recent sales to go on? What have similar houses in the area gone for recently.

    4.3kWp South facing PV System. South Dublin



  • #4
    MetHerInSolas
    Registered Users, Registered Users 2 Posts: 122 ✭✭MetHerInSolas


    25%...and selling for half the figures you quoted.

    Mine maybe in a slightly better condition.

    Not that many sales in the area, a recent sale by NAMA which was very low!


  • #5
    ted1
    Registered Users, Registered Users 2 Posts: 24,109 ✭✭✭✭ted1


    They are only really ball park figures.

    What % where the 3 estate agents offering ? You might find that your neighbour did shop around and has no intention of accepting the asking price


  • #6
    MetHerInSolas
    Registered Users, Registered Users 2 Posts: 122 ✭✭MetHerInSolas


    The difference in valuations between the first and third estate agents was €75,000 and we went for the second estate agent which was in the middle of that figure.


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  • #7
    farrerg
    Registered Users, Registered Users 2 Posts: 133 ✭✭farrerg


    MetHerInSolas wrote: »
    25%...and selling for half the figures you quoted.

    Mine maybe in a slightly better condition.

    Not that many sales in the area, a recent sale by NAMA which was very low!

    Is the other house more in line with the recent sale?


  • #8
    MetHerInSolas
    Registered Users, Registered Users 2 Posts: 122 ✭✭MetHerInSolas


    No, I would say its more valuable...


  • #9
    the_syco
    Registered Users, Registered Users 2 Posts: 37,315 ✭✭✭✭the_syco


    MetHerInSolas wrote: »
    This week my neighbours put their property on the market (its similar to mine) for €40,000 less than mine!
    This means nothing. Only the price it sells for is important.

    Also, how close is your neighbour. Personally speaking, if a few houses went "for sale" around the same time, I'd be wondering if there was an outside force causing the sudden sell.


  • #10
    farrerg
    Registered Users, Registered Users 2 Posts: 133 ✭✭farrerg


    MetHerInSolas wrote: »
    No, I would say its more valuable...

    Is their asking price closer to the sale price though than yours? As said before, they may be looking for a quick sale and are pricing competitively. Or perhaps, even though you've gone for the middle asking price, the jump from the last local sale price is unrealistic....


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