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It worked - offer accepted on home after weekly asking price cut

The tactic of reducing the asking price of a retirement apartment by £1,000 per week appears to have worked - the vendor has accepted an offer just weeks after starting the price cuts.

In April we reported that the vendor of the two bed property in the West Midlands village of Womborne announced that he was going to reduce the asking price by £1,000 each week until it was sold.

“It is already very competitively priced at £145,000 but if it means I have to sell at well below market value then I am willing to accept that. I have come close to selling the property on a number of occasions, but close isn’t really good enough” explained John Parker at the time.

Now the local Express & Star newspaper reports that estate agency DB Roberts has confirmed that an offer has been accepted, but remained tight-lipped how much for.

If the vendor had kept to his pledge the property would have been reduced to £142,000 when the bid went in.

The original description for the apartment stated that it was “even better value compared to the one bedroom units, sales of which over the past 18 months have ranged from £150,000 to £174,000.”

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