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Debate House Prices
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Very low offer accepted, should I wait?
RDB
Posts: 872 Forumite
I put a very very low offer in for a lovely old farm house in the country. I saw it on a property auction news letter I get, it didnt even reach its reserve price. I put an offer in even less than that and now its officially under offer.
I was prepared to negotiate but it apears they are accepting it.
Should I wait until next year/the year after for even lower prices?
I dont want to buy now then find the value falls even more.
I was prepared to negotiate but it apears they are accepting it.
Should I wait until next year/the year after for even lower prices?
I dont want to buy now then find the value falls even more.
0
Comments
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You're willing to lose the home for the sake of a few grand? Are you sure you really want it in the first place?“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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If you got it under auction price, then there's no point having second thoughts. Go for it.
You chose it... get some backbone and stick by your decisions.0 -
PasturesNew wrote: »If you got it under auction price, then there's no point having second thoughts. Go for it.
You chose it... get some backbone and stick by your decisions.
PN is right.
as for
I dont want to buy now then find the value falls even more.
If you like it ,it should not matter. You are buying a place to live 1st not an investment. Houses are never a short term investment (or should never be)
PS i do like your posts PN they are never bull or bear just straight forward answers0 -
PN is right.
as for
I dont want to buy now then find the value falls even more.
If you like it ,it should not matter. You are buying a place to live 1st not an investment. Houses are never a short term investment (or should never be)
Yes not short term, I am thinking mid term. There are bargins about now but I think more so in the next few years as prices fall a lot more when interest rates go back up.
It`s amazing how many today beleieve what they are trying to make you think.
If I was in the government and I said "lets drop interest rates to keep house prices overly inflated until next election May 2010", someone says people arent that stupid they know when interest rates go back to where they should be house prices will also go back to where they should be.
Maybe sheeple really are that stupid beleiving the papers..........0 -
Yes not short term, I am thinking mid term. There are bargins about now but I think more so in the next few years as prices fall a lot more when interest rates go back up.
It`s amazing how many today beleieve what they are trying to make you think.
If I was in the government and I said "lets drop interest rates to keep house prices overly inflated until next election May 2010", someone says people arent that stupid they know when interest rates go back to where they should be house prices will also go back to where they should be.
Maybe sheeple really are that stupid beleiving the papers..........
Below auction is below cash. In a crash that is likely below bottom. I can say that without any VI but it's up to you.
IR going up will mean inflation. Take that how you will but 99% of the time that fillters in to wages. I think you will be surprised how long IR could stay below 5%.
there is a lot of debt out there that needs servicing. that is a world wide problem and high IR will not get it paid back.0 -
Yes not short term, I am thinking mid term. There are bargins about now but I think more so in the next few years as prices fall a lot more when interest rates go back up.
It`s amazing how many today beleieve what they are trying to make you think.
If I was in the government and I said "lets drop interest rates to keep house prices overly inflated until next election May 2010", someone says people arent that stupid they know when interest rates go back to where they should be house prices will also go back to where they should be.
Maybe sheeple really are that stupid beleiving the papers..........
Some people are stupid enough to think that the government still sets interest rates,so who knows.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Below reserve, not necessarily the same...Below auction is below cash.
Having said that - a very, very low offer and prepared to negotiate (but doesn't have to) could well be next year or two's price anyway. Same as buying anything - either pass and don't look at it again, or buy it and stick fingers in ears/say la la la la for a while.0 -
I think more so in the next few years as prices fall a lot more when interest rates go back up.
:rotfl:
Interest rates stayed at 2% for 18 of the next 20 years after the last recession this bad.
What on earth makes you think "it will be different this time"......“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
We don't have any gunboats left..?0
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