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EA phoned to "resurrect" old offer!
Comments
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The whole 'insulted' thing is pretty much a standard EA tactic. They do it often when you put in a low offer... 'Oh, I thought you really loved the property!'
To which my answer would be "Yes I really do love the property, but I don't love the price"If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0 -
lincroft1710 wrote: »To which my answer would be "Yes I really do love the property, but I don't love the price"
I do love the property and could afford the price. But a lot has changed in 7 weeks!Debt Free thanks to MSE!!!! £15,000 debt became £0 thanks to some hard work and all you lovely people!0 -
Do you know how much similar houses have sold for in the area? It's already a big reduction but that could be due to ridiculous asking prices.Oh good point. I should share the prices to make sure the opinions are more informed.
Original Asking price £159,995
Property Bee showed reduction to £149,995
Our Offer £136,000
Our deposit £25,000
Salary Gf is a teacher on about £28k, I work with young offenders on an alternative to custody scheme and earn about £34k as a project leader.
Are you FTBs? It's a massive drop (from the original) but the stamp duty threshold comes to mind (125K for non FTBs).
I think if you can negotiate off a big chunk (eg down to 125K, assuming this is a good price compared with other houses!). But huge risk of Gazumping so proceed quickly and have other houses on the back burner.
It would also help if you could come up with an excuse about dropping to 125K (but only if it has some truth), eg didn't realise that you didn't qualify as FTB, have seen more houses now and realise it's not worth more than 125K etc.
Really I don't know, only you do! The fact you are not "in love" with this propery (as in it is the only one) and are willing to walk away is a strong point so play it well.0 -
I think if you are on here asking what to do then it's not the right house. If it was you would have been delighted when he rang you back.
MeganMay GC - £100 per week
Week 1 - £120/£100 :eek:, Week 2 £110/100:o, Week 3 £110/£100:mad:, Week 4 £50/100Week 5
DFW - March '13 - c/c £5600, April £4500, May £2500 :T0 -
Do you know how much similar houses have sold for in the area? It's already a big reduction but that could be due to ridiculous asking prices.
Are you FTBs? It's a massive drop (from the original) but the stamp duty threshold comes to mind (125K for non FTBs).
I think if you can negotiate off a big chunk (eg down to 125K, assuming this is a good price compared with other houses!). But huge risk of Gazumping so proceed quickly and have other houses on the back burner.
It would also help if you could come up with an excuse about dropping to 125K (but only if it has some truth), eg didn't realise that you didn't qualify as FTB, have seen more houses now and realise it's not worth more than 125K etc.
Really I don't know, only you do! The fact you are not "in love" with this propery (as in it is the only one) and are willing to walk away is a strong point so play it well.
The original price would have been peak price and the property sat for around 8months at this price- we offered £136k as a relatively similar property completed at this price according to ourproperty.
Yes we are FTB and have been saving £1500 a month towards our deposit. We would happily have purchaed for £136k a few weeks ago, but you are right it is no longer the only property we love!Debt Free thanks to MSE!!!! £15,000 debt became £0 thanks to some hard work and all you lovely people!0 -
sugarwalsh wrote: »I think if you are on here asking what to do then it's not the right house. If it was you would have been delighted when he rang you back.
Megan
I had not thought about it like that. I do really like the house. But there are others out there. I wish this was easier!!Debt Free thanks to MSE!!!! £15,000 debt became £0 thanks to some hard work and all you lovely people!0 -
Weigh up the pros and cons of each house. I didn't 'love' the first house I bought (I was 21) and took advice from my savvy parents. I got a 3 bed on a nice part of a 'rough' estate. I stayed 10 years because they had the foresight to realise I would need 3 beds, a garden, open views etc. My advice would be not to rush, it has sat around 8 months, they can wait a little longer. Is it an 'individual' house or are there many more similar? Ie - would you be gutted if it sold to someone else whilst you looked at other houses or would it be a case of 'well, there are others like it' and we can wait?
It seems daunting, but really try and be calm and rational. The estate agent has a nerve calling you - he would have known that if you were interested then you would be keeping an eye on what happens to the price etc. He was just trying to pressurise you and purchasing a house is not to be done under pressure.
MeganMay GC - £100 per week
Week 1 - £120/£100 :eek:, Week 2 £110/100:o, Week 3 £110/£100:mad:, Week 4 £50/100Week 5
DFW - March '13 - c/c £5600, April £4500, May £2500 :T0 -
Wow it would be a steal at another 10% less. The agent implied that after careful thought they had viewed our offer as fair in the current climate. However, this new price will open them up to offers below I guess.
I said offer 10% under the new asking - and barter on from there.No reliance should be placed on the above! Absolutely none, do you hear?0 -
No problem. You are actually at an advantage. Be "promiscuous". Offer low on one (doesn't have to be this one) and don't worry about walking away since there are others that you like. Chain free is better as shorter time frame so potentially less risk of gazumping.I had not thought about it like that. I do really like the house. But there are others out there. I wish this was easier!!0 -
sugarwalsh wrote: »Weigh up the pros and cons of each house. I didn't 'love' the first house I bought (I was 21) and took advice from my savvy parents. I got a 3 bed on a nice part of a 'rough' estate. I stayed 10 years because they had the foresight to realise I would need 3 beds, a garden, open views etc. My advice would be not to rush, it has sat around 8 months, they can wait a little longer. Is it an 'individual' house or are there many more similar? Ie - would you be gutted if it sold to someone else whilst you looked at other houses or would it be a case of 'well, there are others like it' and we can wait?
It seems daunting, but really try and be calm and rational. The estate agent has a nerve calling you - he would have known that if you were interested then you would be keeping an eye on what happens to the price etc. He was just trying to pressurise you and purchasing a house is not to be done under pressure.
Megan
It is 4 beds and in a nice part of town. It is not an individual house but there are not loads for sale either. I am going to take my time as you advise. There has been no rush on any of the properties we have our eye on.
I think asking the question would I be gutted if it sold is a good idea.Debt Free thanks to MSE!!!! £15,000 debt became £0 thanks to some hard work and all you lovely people!0
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