Ok, so who else has been "gazundered"?

brummybloke wrote: »

my buyer tried to gazunder me, i told them either buy it or dont, they stopped with the silly games and bought it.

i put an offer in on a house 3 weeks ago, i have no intentions of trying stupid games to reduce the price further by 'threatening' them which is what gazundering is.

i am happy with the price i am getting the house for, i can afford the house and i intend to live there for many years.

We did the same, just didn't work.

I think that this type of behaviour just worsens current property market problems: it is certainly making us think very seriously about pulling the house from the market altogether (we don't have a financial need to sell).

If you make a deal, you should stick to it. From accepting the offer to it falling through was only a month: if the buyer couldn't see/predict/reserach what the market was likely to do in that time, then they should be shot for low IQ...

England could really benefit from a much more conervative house selling system like Scotland: only make an offer if you are 100% certain.

QT

tommy75 wrote: »

well nobody knows what is going to happen. Very doubtfull but banks might suddenly start lending at better rates again this year and houses will continue to rises pushing FTB further away from the property market... Your houses price will probably continue to lose value but the house your buying also loses value so the only winner is everyone who are buying cheaper houses and having to borrow less money. I'd expect gazundering to go on until the bottom of the market wherever that is. Hope everything works out for you.

Thank you

I think it is the disparity/chaos in the property market that is so difficult at the moment - and the main reason why I just don't feel (again, rightly or wrongly ) that I can drop the price a further 10% at this time.

We were already, what I consider, "realistic" sellers. Our asking price was less than what an identical house sold for in the late Summer (which was 18% below it's original asking price). We expected offers below this and accepted one 10% less than our asking price (so more than 10% less than the identical one sold for 4/5 months earlier). I accept that prices are (and will continue to fall).

Our buyer wanted to pay "2004 prices" for our house (hence the gazunder). The thing is that the houses that we are looking at are still at "late 2007" (pre-crash!) prices. If I could get what I want at 2004 prices, then I would be MORE THAN happy to sell at 2004 prices... :T, but I can't and that is a HUGE disaprity (at the moment).

As a non-pressured seller (i.e. no financial or other reason that we HAVE to sell now), there seems little alternative to wait until the market settles/equalises a bit: if we have some faith that what we want will be within reach (i.e. we can buy at the same prices that we sell), then at least things will feel a bit more secure... If that makes sense.

We may have to get creative and move into rented accomodation (we are looking to start a family and - although this house is lovely - the current house isn't what I want for a baby) and rent this house out for a while. Although I am worried that will make selling it more complicated (i.e. the house is immaculate now - doubt it will be kept as well by tenants...)

QT

themanbearpig wrote: »

Its a buyers market, principles have no place in business.

Which is probably why we are in this recession in the first place... principles seem to have very little to do with modern day life, but unfortunately some of us have them and that is the way we behave.

themanbearpig wrote: »

The longer you wait before you accept the new prices, the more you will lose. Realistically, given the worsening economic climate, you will probably end up selling for less than the 'gazundered' offer; a lose-lose situation for you.

Since we don't have to sell, I think that we would be stupid to sell now... there is no point in accepting "lose" or "lose-lose" if we don't have to.

We will be forced to wait it out - one way or another - like most other people who don't have to sell (that have a brain). The number of houses available to buy will continue to fall and be made up of virtually only reposessions and other emergency sales...

themanbearpig wrote: »

"Waiting it out" is fair enough, but you have to accept the very likely scenario that when prices stablise, they may not rise and recover to 2007 levels for a decade. They took 8 years to recover in the last crash and this crash is far far bigger.

I think that we will have to - we have little other choice. I am not bothered about prices recovering (I really don't need/want to sell at the top of the market), I just want to be able to afford what I want to buy. That would require me being able to buy in the same market that I sell: there needs to be some more market equalibrium/stability for that. It is pointless us selling until then.

QT