To those selling in these difficult times Part Deux. AKA sellers support network!

InkZ

Unfortunately, as a buyer myself I'm not going to pay anywhere near asking for anything at the moment. I'll just keep lowballing until someone bites.

When prices are trending downwards there's no rush to buy as the longer you wait the more you get for your money. I'm sure I'm not the only one with that mentality.

I have just sold my flat (exchange any day now) for 2k under asking, but then I priced it to sell.

It's taken 14 months from putting my flat on the market to getting near exchange so I feel your pain.

Thefunkygibbons

Got an EA coming around tomorrow to start the process

Planning on selling first and moving into rented, and then buying

Having done up 2 houses, this time we are going new build so I want to be a cash buyer

I reckon the house will be hard to sell, remote location and probably too large, but we will just have to price it right and wait and see

tiny_tear

claire70 wrote: »

We have had two offers - one 50K under our asking price, one 45K under!!! So 19k under sounds quite good to me The one who offered 45k under eventually went up by 10 grand, but even so.... We are just outside London so prices are expensive anyway, but they were just taking the p.....

But then the rate we're going we might have to eventually accept something nearer to those prices anyway We've already dropped the price by 20k in the last few weeks.

I am in London (zone 3) and I am already £10k cheaper asking price than another flat in my block which, in my opinion, doesn't look as good but does have a separate kitchen while mine is a kitchen/lounge together.

I am gearing myself up to renting it out more and more (although there was yet another viewing yesterday afternoon - at least I am getting some viewings)

tyler80

I'm the same as funkz, buying but if we find anything first offer would be 15% under asking so 19k under not ridiculous in my book.

23rdspiral

hello everyone, it's been a long time since i posted here, at least 6 months i reckon. i've had a read back and am sad to see some of the old faces still trying to sell, but am no wiser as to the state of the market for doing so!

i just wanted to update you on what we're up to. we were on the market since sept 09, with lots of interest but no offers as everyone was a ftbuyer so no mortgages just lots of hope! we couldnt go as low as the lowest house on our street as we'd be in serious negative equity, even though that house needs entirely gutting and ours is fine you get compared on rightmove so it was impossible. we decided to look into the rental idea that i see lots of you are considering.

we made an offer on our next house last autum, and we will get the keys this week, 5 months later! :eek: needless to say it was a very complicated chain, even though we were at the bottom of it!

we just put our house for rent last week, and have got a viewing booked. the house we're buying needs serious work before we can move in so fingers crossed the timings will be ok.

good luck to everyone trying to sell... it's a very odd market out there.

farmerboy

Our buyers backed out yesterday:mad::mad:

The survey came back agreeing the price, but the rest put them off. Sounds basicly like a usual non comital survey with the surveyor covering their backside, but its put the jitters up the FTB. One of the points they commented on was that the surveyor had put something about there being no guarentees that the house will be worth the same in the future.

The EA thinks, from what they told her, that it was just a standard survey response, i.e !!!! covering, but as they are FTB's and this is the first property they have offered on, its just got them worried. Luckily we'd not instructed solicitors, as we weren't 100% confident in them, so we've lost nothing, and the house wasn't taken off the market either.

Ah well back to the viewings again.

Jimmy_31

InkZ wrote: »

Unfortunately, as a buyer myself I'm not going to pay anywhere near asking for anything at the moment. I'll just keep lowballing until someone bites.

When prices are trending downwards there's no rush to buy as the longer you wait the more you get for your money. I'm sure I'm not the only one with that mentality.

I have just sold my flat (exchange any day now) for 2k under asking, but then I priced it to sell.

It's taken 14 months from putting my flat on the market to getting near exchange so I feel your pain.

I have the same mentality im afraid, there is zero chance of me paying anywhere near the asking price of any house i am intrested in at the moment, i can understand it when people are unhappy when they recieve lowball offers because maybe they do have to sell at a certain price no matter what due to their personal circumstances, but look at it from a buyers point of view, why would any sane buyer pay the prices that sellers are asking at the moment.

I wouldnt pay the prices sellers were asking 5 years ago so im not going to start now in a falling market. Im seeing 20 percent drops over the last 6 to 8 months in the areas im looking in and i still have no intention of placing any offers until sellers reduce their asking prices to what they were before the boom plus a few quid on top.

We all know that the reason house prices are so high is because the banks lent out vast amounts of money for mortgages and vasts amounts of people took that money and started paying stupid prices for property, so now a lot of the people who want to buy a home are the same people who held off from buying during the boom so they certainly arent going to pay 2007 peak price minus ten percent are they.

harz99

Inkz and Jimmy 31; your on the wrong thread! This is sellers support not buyers, be good people and toddle back over to the buyers thread.

tiny_tear

harz99 wrote: »

Inkz and Jimmy 31; your on the wrong thread! This is sellers support not buyers, be good people and toddle back over to the buyers thread.

Thanks! I was about to say the same... And *that* is why I am not lowering my price even more as even if I had a flat for sale for £100K some smart a r s e would come along and offer 20% less even though other flats in the block sold for £150k in 2005

ultrarunner

hi there, another newbie to the thread...

my studio flat is just on the market, the aim being to upsize to a 1 or 2 bedroom flat / maisonette in a cheaper town closer to where i work.

all the valuations i had recommended an asking price equivalent to my purchase price in 2007 (£99,950, i paid £97,500) which doesn't seem to mirror other experiences here. perhaps where i live hasn't suffered as bad as other parts of the country and maybe the price of a studio can only go so low (i hope!), also the supply of studios is fairly low.

not sure what to do now apart from keep the place clean continually. i can't keep going on rightmove every 4 hours to see if there are new properties in the area i want to move to!