How to determine asking price

Gael23

A family member is selling their home shortly and believes it to be worth €200k based on comparable properties in the area.

im order to get as close as possible to that do you put it on the market at 205-210,000 and leave a little room or go at say €199k keeping it under the 200s barrier but not be so open to negotiation?

endofrainbow

have it professionally valued by an Estate Agent

Atlantic Dawn

If it's in a city or area with large turnaround of houses I'd put it in at €200k hoping for higher bids, if it's in a low turnaround area I'd stick it up for €210k hoping someone begins bidding at €200k.

SupaCat95

There is no science or maths to it..... its more of an art.

If I was to do it, I would consult the property price register. That will tell you the price of any house sold in the last 10 years. This cannot be disputed. https://www.propertypriceregister.ie/website/npsra/pprweb.nsf/PPR?OpenForm

Then you must judge demand in that area and finance available. I dont think there is that much finance available but Estate agents are creating the mania (and fueling panic, see last Sunday Independent house prices up 12% next year).

Paying for a Surveyor will tell you how much value to subtract to get an accurate valuation for maintenance to be done.

So mix all those factors and come up with a number. Also Estate agents are all £$%^$£% *%$£. They will tell you what you want to hear but try and sell the house without them and they will get nasty with rumours and suggestion.

SupaCat95

https://www.boards.ie/discussion/comment/117877729#Comment_117877729

Best advice! Dont worry about the cost, Estate agents will break their neck to come out and value it for free if there is even a remote chance of them selling the house.

ec18

at the minute pick what you want and see what happens I've seen houses with an asking price in the 500K range that aren't habitable

Jmc25

https://www.boards.ie/discussion/comment/117888221#Comment_117888221

I think at the moment some estate agents are operating under a "stick it up for something mad and see if anyone is desperate/silly enough to pay it" policy.

Most properties I view seem to get an offer at asking price, even when the asking price is mad.

Gael23

No it’s not in an area whit a high turnover but it’s an area where good houses don’t come in the market very often. There’s a similar one further up the street which has been rented for many years asking 185k so one in turnkey condition is getting at lest 200 taking that as a guide