Effect of the Budget on house sales?

[Lucan Unlordly]

Following a recent bereavement the family have a house to sell. It's been on the market for a few weeks, generated some good interest, some second viewings and an unacceptably low offer that's been increased but still well below asking price.

The estate agent has apparently referred to the forthcoming Budget in a way that suggests it could be better to wrap up a deal now rather than wait to see what the Chancellor has in store. From what I've read the speculation is that the market will be enhanced, particularly for first time buyers?

Can anyone closer to the property market give a view as to what impact they think the Budget could have?

 

[MikeJ]

The estate agent wants their commission.

 

[Mark T Jones]

It's unlike an estate agent to push you to accept the first offer that comes in

Is the property pitched at first time buyers? If not, where is it pitched?

A GOOD estate agent (there are a few, but they are drowned out by the sharks) will identify the right buyer for the property and will pitch it accordingly.

A rubbish one will:

1. Give you a high 'valuation'
2. Create a stampede of worthless viewings.
3. Push you to reduce the price/accept wherever offer is made.

 

[Lucan Unlordly]

LOL.........yes I know the Salesman's game, I am one, and have bought and sold a number of properties over the years.

I'm not directly involved in this negotiation so can only work from the feedback of family members. I would have asked the agent to firm up his thought regarding the Budget, the good and the bad.

On reflection I could just have asked, 'Can anyone closer to the property market give a view as to what impact they think the Budget could have on property sales'?

 

[Lucan Unlordly]

Is the property pitched at first time buyers? If not, where is it pitched?

No, it's a 3/4 bed semi that's been generating interest from couples looking to start or with a young family and older folk downsizing. You could move in, decorate and live comfortably or knock it about and extend easily. Want to put in an offer?

1. Give you a high 'valuation'
2. Create a stampede of worthless viewings.
3. Push you to reduce the price/accept wherever offer is made.

I think their choice of agent has been good. So low was the first valuation the agent couldn't but give a higher one. The feedback seems genuine and I'm told there's a sale at an acceptable price on the horizon.