what do we do, make an offer before I have a sale?

dander

jenner wrote: »

plus it dont help that i keep seeing properties i have saved on rightmove, disappear either being sold or taken off the market. mostly the properties on right move are just rubbish now, cos no one is putting theirs up for sale.

I would have thought that in the current market most of the properties that are disappearing are going because the vendors have given up trying to sell. It might be worth keeping the details and when you do finally sell, approaching the agents they were with and asking about the properties. You may find they'd still consider a sale if someone came along all ready to proceed.

puddy

yeah, i have thought of that for later. some of them in my saved list have come up with stc and some we wanted to view last week were said to have accepted offers. typical. but you're right, i will be doing that if we dont get something now that we want

puddy

well, i finally gathered up the courage to phone the estate agent for my flat. he says to knock another 30k off it.
i said could i think about it.

that means i will have gone from an asking price of 240k to 180k. it feels like no one else is making such big percentage drops, just me. is it just me? thats more than 20%.

if i dont sell now then it will be years before the market comes back up again? what should i do?

Dinah93

You are getting no interest at the current price, and as you say it may be years before the market bounces back to the current price. You could hang on at the current price for a long time waiting for the market to come back to the original asking price. You will also then be in the position of being less than the competition, and more attractive to buyers. Pay off your debts, move house, and start saving for a pension over time with the money that you are currently using to service your debts each month.

puddy

you're right, im going to do it,,, thanks

Paley71

We put an offer on a house the day ours went on the market, the house belonged to the vendors father who had sadly passed away.
It was accepted at 106k luckily for us it's wasn't the sort of house that would suit most people even in a buoyant market (tiny yard/garden, VERY steep stairs, lots of work) over the months we dropped our price and the vendor dropped most of the way with us down to 96k (I don't think he had a single viewer in that time so he knew it would be mad to let us go!)
This was all back in May and 'touch wood' we should be ready to exchange contracts soon.

MrsCJH99

Hi Jenner,

We've just sold and bought (1 month ago). I would agree with the other posters that no matter how much you love the house you've seen there is another one around the corner you'll love more. Our first sale fell through and we lost the house we wanted and 2k in fees- ouch!

However I'm now the proud owner of a very cute house IMHO in a better area and with a better finish. We took a huge hit on the sale of our flat. We took 15% less than we were offered last March. But we paid less for the house we bought. The vendor's agent negotiated 40k off the vendor's purchase so we were all happy and everything went through relatively smoothly.

Best advice I had was from another agent who we viewed properties with. He said just concentrate on your sale. Really buying is the easy and fun bit. Don't look seriously until you have an acceptable offer on the table and even then be cautious. Don't let the buyer know you're desperate to sell to get your dream home...

puddy

MrsCJH99 wrote: »

Hi Jenner,

We've just sold and bought (1 month ago). I would agree with the other posters that no matter how much you love the house you've seen there is another one around the corner you'll love more. Our first sale fell through and we lost the house we wanted and 2k in fees- ouch!

However I'm now the proud owner of a very cute house IMHO in a better area and with a better finish. We took a huge hit on the sale of our flat. We took 15% less than we were offered last March. But we paid less for the house we bought. The vendor's agent negotiated 40k off the vendor's purchase so we were all happy and everything went through relatively smoothly.

Best advice I had was from another agent who we viewed properties with. He said just concentrate on your sale. Really buying is the easy and fun bit. Don't look seriously until you have an acceptable offer on the table and even then be cautious. Don't let the buyer know you're desperate to sell to get your dream home...

thanks Mrs, I think because of the money thats now been knocked off mine, and IF someone makes an offer it will be below that price too, its unlikely the dream house is now acheivable. Im even thinking of going dirt cheap to pay off the mortgage and be mortgage free. It will mean we can both work part time if we like and thats more relaxing, but it means a house in an area that I probably dont like.

BettiePage

You need to just mentally write off the money you have knocked off your asking price. That money was never yours in the first place iyswim? Therefore it is not 'lost'.



Reading that back, I'm not sure if I make sense.... but I know what I mean, lol.