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Over Priced?? Your thoughts Please :)
Comments
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Anyone else with any pearls of wisdom?0
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You keep saying you know they will not accept a low offer. How do you know this if you havn't made one?
Your exactly right, I don't know, perhaps I'm trying to put myself in the vendors shoes, if I didn't need to sell then why would I accept an offer £50k below the asking price?
We haven't had the usual courteousy call from the EA yet so we're waiting until they ring us as we don't want to seem too keen. If they don't ring us today I'll ring them on Monday
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Your exactly right, I don't know, perhaps I'm trying to put myself in the vendors shoes, if I didn't need to sell then why would I accept an offer £50k below the asking price?
A) The house has been on the market for 6 months already and not sold.
House prices are continuing to fall (not rise) and expected to do so for another 6 months at least.
C) If the house was £230-240K at market peak then a 20% discount from that is around £200k.
If its perfect for you then offer £200k, and maybe go to £208k, with a final offer of £210K if neccessarry. Otherwise walk away and wait 3-6 months and go back with an offer of £190K."For those who understand, no explanation is necessary. Those who don't understand, dont matter."0 -
With the issues I've had with the valuation on my home, I wouldn't pay anything like the asking price without going through other sold prices with a fine toothcomb.
Were I live smaller house than mine are up for sale in some cases at 50k+ more than my house was valued at. They all seem so over priced given the valuation we have had. Valuations have dropped but asking prices have not.
I'd would be very careful as to how much you agree to pay them.0 -
A) The house has been on the market for 6 months already and not sold. House prices are continuing to fall (not rise) and expected to do so for another 6 months at least.
C) If the house was £230-240K at market peak then a 20% discount from that is around £200k.
If its perfect for you then offer £200k, and maybe go to £208k, with a final offer of £210K if neccessarry. Otherwise walk away and wait 3-6 months and go back with an offer of £190K.
I think I'll use that argument when discussing our offer with the EA. At least they will hopefully convey this to the vendor.
Thanks 0 -
With the issues I've had with the valuation on my home, I wouldn't pay anything like the asking price without going through other sold prices with a fine toothcomb.
Were I live smaller house than mine are up for sale in some cases at 50k+ more than my house was valued at. They all seem so over priced given the valuation we have had. Valuations have dropped but asking prices have not.
I'd would be very careful as to how much you agree to pay them.
We are also interested in another property which we are going for a second viewing tomorrow, it is on the estate we really want to be on but it isn't our buy till you die house. My issue with that one is that it it was purchased in 2001 for £105,950, currently up for £217k but the vendor has said that they can't accept less than £205k as they need the money to purchase their next house.
Other offers of between £195k -£199k have been rejected. Initially we would have been willing to go to £200k for it but something is just niggling at me that we shouldn't be paying £205k for it. However it has had a lot of interest and I do think that it will sell eventually at £205k.
If we bought it now for £205k then wanted to move in 3-5 years time I have a feeling that we would lose a lot of money and our dream house would slip further away from us. It really is hard to know what to do!!0 -
Your exactly right, I don't know, perhaps I'm trying to put myself in the vendors shoes, if I didn't need to sell then why would I accept an offer £50k below the asking price?
How they might feel about the house now or any offers you make is on the list of things that are not your problem. While I wouldn't want to do anything to antagonise someone I was hoping to do a deal with, because that rarely helps, at the end of the day a business transaction should be based more on cold hard facts and figures than on what people want and feel.If you don't stand for something, you'll fall for anything0 -
£205k. and a donut.Long time away from MSE, been dealing real life stuff..
Sometimes seen lurking on the compers forum :-)0
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