To those selling in these difficult times

Hello all. I have been lurking for a long time though not really posted. I have been keeping an eye on this thread as I'm selling, and buying. Good luck everyone.

Old Macdonald, my answer to your question is the same as devilot's. Our minimum, which is what we have accepted (exchange due next week, fingers crossed) was based on how much money we needed for our deposit for the next house. Every £5k off our selling price below a certain level would have come straight out of our deposit fund and hence would mean £25-30k less as the maximum we could afford for our next home because of the 15-20% deposit we need to have.

For those who are interested in these things I have accepted an offer for just under what I paid in Sep 2004 despite doing a fair amount of work on the house since. The %age drop from the peak price, taken as what two of my identical terraced neighbours in similar condition sold for in mid-2007, is 17%.

pawpurrs wrote: »

Just had a very positive viewing, and I honestly believe they are the ones, they thought that the house was far too cheap! Much better than houses they had seen at 60k above ours!
We will have to see, as I am not sure if they are 100% procedable, but I got a very good feeling about them! :j

As far as accepting a lower offer from cash buyers, wouldnt make a difference here, am as low as I can go, although if there were two buyers who wanted it then they would be in front, IYSWIM....
I dont think many people would take much less for a cash buyer.

Oh good luck Hun it is about time you got some good news, I will keep my fingers crossed for you (which will make packing a bit difficult ha ha ).

Mish

pawpurrs wrote: »

Thanks for joining in Noxon. Hope it all goes through smoothly for you, where abouts are you in the country? Looking on Nationwide price calculator, it says about a 6% drop in the area I am in, which I feel is lagging behind a bit, thats from 2006, hard to know really.

I'm near Oxford. So still incredibly expensive. The %age drop I've taken is higher than predicted by the Nationwide calculator based on the 2007 price but I've done better than it predicts from the 2004 price....Because the house is around the £175k mark though any prediction based just on %ages is going to be distorted by the stamp duty change which definitely affected prices in this range.

pawpurrs wrote: »

Its not a bad time to be upsizing if you can pass on the loss that you have made on your house % wise on to the next step.

I think we've done OK with the place we're buying and we can afford it and love it which is the main thing. There's not enough houses similar to it where we're moving to know whether we've got a brilliant deal on the price and there's very, very little on the market but it's the only house we've seen that we both immediately knew was the place for us. We had it under offer and it was taken off the market SSTC less than a week after it came on.We're trying not to get too excited until contracts are signed but so far everything seems to be working out.