"cheaky offers"

WTF?_2

do_it_today! wrote: »

All our low offers have been rejected!
I'm quite bored with the whole thing tbh!

Offers are just that .. offers. No one has to accept them though you may get lucky and find a desperate seller who will take a really lowball offer.

There is an awful lot of resistance to the notion that the market is dictating price falls (though there was none at all to the market indicating 10% year on year rises, strangely enough ) but buying a house has never really been a quick and easy process.

You'll likely be paying off the mortgage on any house for 20 years or more so there's no need to rush into paying more than you have to when the trend for prices is downwards and likely to stay that way for the foreseeable future.

penguine

We offered 20% below (in July) on a house that needed lots of work doing. The sellers came down by 15% in the end but we wanted 18% so no deal. They seem to have taken the house off the market.

I viewed another house in July that was seriously overpriced, compared to other similar properties I had seen on neighbouring roads. When the EA asked me for feedback I told him that. They'd been trying to sell for awhile (couple separating) but also seem to have taken it off the market.

I think for a lot of sellers the reality won't sink in till next year.

snoopy78

carolt wrote: »

No it's over 9% on average now.

You must have more upto date information than me, 9% is a big chunk to take off though. I wonder if the stats are being effected by amount of new builds that are slashing prices at the moment?

If your looking for a house to get at a bargain I still think a new build could be the way forwards if the developer is in trouble. Although I would not but too much weight on any offers for future maintance or covering the price of falls.

Barret have some thing were they are protecting house buyers from the first 15% of house price falls, but I recon if they fall by 15% then you'll not be seeing your money as barret will be ka-put!

toocan

i used property bee to do some research

2 of the bids where on houses that had over the past 5 - 8 months been reduced from 220 to 190 so an extra 15% but the other 3 had no price reductions over similar time periods.

im not sure if location is still relevant but the houses are in a desirable village and surrounding area...

gordonstights

toocan wrote: »

Ive put at least 5 offers in on various properties at least 15% below asking price and ive just been laughed at over the past 4 weeks.

Reply with "you may well laugh now, but which one of us will be laughing when the vendor has dropped the asking price by 30%!"

I'd love to say that but I haven't got the balls....

hostman

You need a motivated seller. Someone who is looking at a massive loss, because they bought only a few years ago, is not going to entertain a 15% drop, unless they have to.

Someone who bought the house four or more years ago will be more willing to accept lower offers, as they will have more equity before hitting a loss (albeit a paper loss).

We're in the process of buying, we're paying 25% less than peak sold prices. We offered below their asking price, but not massively so, as the house is already cheaper than an identical property in the same street.

WTF?_2

gordonstights wrote: »

Reply with "you may well laugh now, but which one of us will be laughing when the vendor has dropped the asking price by 30%!"

I'd love to say that but I haven't got the balls....

Nah - just leave your contact details and say "This offer is still good for two months (or whatever length you decide) so call me if you change your mind in that time".

The 'find and buy a house' process takes ages anyway - unless there's some sort of pressing personal circumstance then the typical buyer has all the time in the world to pick and choose. With prices currently going down over a percent a month, where's the hurry? :cool2:

mrstinchcombe

I looked at a place the other day which was on for £115,000. The estate agent said to me "If you offer £110,000 I think it will be accepted".

If I made an offer it certainly wouldn't be £110k! If I wanted it I'd offer £90k and expected to get it for £115k. Any seller wanting more is pretty unrealistic!

gordonstights

mrstinchcombe - I had a similar situation recently. A house that I'd viewed several months ago for £150,000 was in need of modernisation. It was disgusting inside actually. Anyway, it's still on the market and dropped to £140,000. I asked the EA recently about it and he said they might accept an offer of 135K :rolleyes:

The houses on the same estate which are 135K are all beautiful inside, with brand new kitchens & bathrooms, and some even have garages as well!

Silly, silly agents :rotfl:

toocan

gordonstights wrote: »

mrstinchcombe - I had a similar situation recently. A house that I'd viewed several months ago for £150,000 was in need of modernisation. It was disgusting inside actually. Anyway, it's still on the market and dropped to £140,000. I asked the EA recently about it and he said they might accept an offer of 135K :rolleyes:

The houses on the same estate which are 135K are all beautiful inside, with brand new kitchens & bathrooms, and some even have garages as well!

Silly, silly agents :rotfl:

.. or maybee the vendor is stuborn on price. im sure given the opportunity the EA would prefer there commision, at least thats my experience. Most EA's have been more than forthright with information albeit some more than others (ive been told previous bid and reserve prices on some properties, unfortunately not on any of the properties that i eventually bid on!)