About to offer on a house... EDIT: negotiation in progress!

Leory

Loanranger wrote: »

You have answered your own question, see above.
The property has been reduced to sell.
Either you meet the reduced price or be prepared to lose it. It's your choice.

Loanranger wrote: »

They invariably leap onto posts from first time buyers and try to give you bad advice that will result in you losing out on a property that you want to buy

Regardless of their intentions, yours was also bad advice. Just because they have reduced the price does not mean you have to match the reduced price or lose out on it.

i could say that you are jumping on the OPs post to try and increase house prices by getting someone to pay the asking price.

The OP can offer whatever they want. It is a buyers market regardless of how you feel. I would be interested to hear how many houses have sold at asking price in England/Wales in the last few years.

When I bought I didnt give a hoot when they told me the property had been reduced already. I haggle on the price i see and what i feel it is worth, not what i have been told it has been up for before

Loanranger

Leory wrote: »

Regardless of their intentions, yours was also bad advice. Just because they have reduced the price does not mean you have to match the reduced price or lose out on it.

i could say that you are jumping on the OPs post to try and increase house prices by getting someone to pay the asking price.

The OP can offer whatever they want. It is a buyers market regardless of how you feel. I would be interested to hear how many houses have sold at asking price in England/Wales in the last few years.

When I bought I didnt give a hoot when they told me the property had been reduced already. I haggle on the price i see and what i feel it is worth, not what i have been told it has been up for before

No, you are incorrect. I am giving the OP good advice: follow your instincts and disregard the House Price Crash morons who frequently post on these boards.
If the OP wants the property, given that it has been substantially reduced, they should offer the asking price or very near, or lose it. Simple, really, or can't you understand that?

I would not be taking any advice you offer but for the record, exactly how many properties have you bought and sold?

geoffky

The house i wanted had been on sale for a long time..i got it for 180k when the original asking price was 300k that was 39% off..i would of been a mug to offer 10% off asking price..so go with what you think you will get away with..find out all you can about the sellers situation and then you can judge what to offer...fools rush in...

vaderag

Well, EA called this eve and have offered 232. Hoping the vendors will give a counter offer of some sort so I know where i stand...

Henry_P_Chester

You have to be away that many people who post on these boards are trying to make FTBs pay over the odds in a selfish attempt to push the Market up so they don't lose money on their buy-to-let investments.



Back on topic.

According to home.co.uk the average home sells for 91% of it's asking price. So your not being cheeky. It's a buyers Market and prices are falling so use this to your advantage. Be prepared to call their bluff and walk away.

myhouse_2

Loanranger wrote: »

You have answered your own question, see above.
The property has been reduced to sell.
Either you meet the reduced price or be prepared to lose it. It's your choice.

Easily the worst advice I've seen on this forum for some time.
It's a negotiation process, which involves both buyer and seller.

LilacPixie

Good Luck Vaderag. If you are not sure a house is worth 250k or at least not 250k to you then don't feel pressured to pay that. If you need to pay more than you personally feel a home is worth to you then really it is no loss. I sold my place not that long ago, I had to take a hit on asking price and the home we offered on did the same. Its swings and roundabouts. Your seller takes a hit on their sale and then passes that hit onwards up the chain.

Leory

Loanranger wrote: »

You have answered your own question, see above.
The property has been reduced to sell.
Either you meet the reduced price or be prepared to lose it. It's your choice.

Loanranger wrote: »

If the OP wants the property, given that it has been substantially reduced, they should offer the asking price or very near, or lose it. Simple, really, or can't you understand that?

I would not be taking any advice you offer but for the record, exactly how many properties have you bought and sold?

so which is it? first you say meet the asking price, then you say get close to it!
either way poor advice still. By your logic if the OP REALLY likes the house then they should pay over the asking price to ensure they get it.

I have bought 1 house, recently. No doubt i got a better deal than the many houses you have bought because i understand the market and didnt pay what was asked. If you choose to do so then that noise you heard as you put the phone down to the estate agents would have been them laughing at you:rotfl:

vaderag

Offer 2 rejected...

Apparently the sellers have another house in mind which is why they want close to the asking.
To be honest, the more I go down this, the more i'm certain that the house isn't worth what they were asking in the first place...

I'm going to mull it over till Monday and then put in a final offer...

hazyjo

Then they can surely negotiate on the price of the one they're buying...

Jx