2012: Is your house still on the market...

Judith_W

The buyer can move straight away as I don't think they are in a formal rental agreement. I presume that if it takes a few weeks for anything to happen if they are keen to move they will start hassling us and we can take the hint. Just the cost and hassle of a short term rent not something I want to bother with.

adindas

business_man wrote: »

Have you tried a cash buy company? They can get it done asap, in time for your schooling reasons.:A

Yes if you wanted to get a rip off price.

DizzyDasher

DRP wrote: »

I don't really understand the psychology behind this!

So as a potential buyer, a house is on for more than your budget and you decide not to make an offer... but then it drops by 5k and then you decide to make an offer!?

Is this so weird?

I saw the EA details for the house we bought when it was on for a higher price, and I really liked the look of it, but didn't book to go and see it because I didn't want to fall in love with it when it was so much more than we wanted to pay!

But then they cut their asking by 5%, we then went to see it, offered 10% below that, ended up at about 5% below the new asking. It didn't occur to me when I first saw it that they would accept 10% below their original asking: them dropping the asking price gave me a signal that they were (a) flexible, (b) keen to move, and therefore it was worth us having a look.

I guess I could have seen even more places that were 10% above what we were willing to pay, but I think I would have spent a lot of time falling in love with houses I couldn't afford and getting rebuffed offers...

DRP

DizzyDasher wrote: »

Is this so weird?

I saw the EA details for the house we bought when it was on for a higher price, and I really liked the look of it, but didn't book to go and see it because I didn't want to fall in love with it when it was so much more than we wanted to pay!

But then they cut their asking by 5%, we then went to see it, offered 10% below that, ended up at about 5% below the new asking. It didn't occur to me when I first saw it that they would accept 10% below their original asking: them dropping the asking price gave me a signal that they were (a) flexible, (b) keen to move, and therefore it was worth us having a look.

I guess I could have seen even more places that were 10% above what we were willing to pay, but I think I would have spent a lot of time falling in love with houses I couldn't afford and getting rebuffed offers...

i guess it depends on what your 5% actually equates to - it could be 5k it could be 50k.

I agree a small price drop suggests the vendors are open to negotiation, but in my experience most vendors are already open to negotiation anyway

I certainly wouldn't exclude a house that is priced at 5% (e.g 10 grand) above my limit - in fact those are the exact price range of houses i am looking at at the moment

Itismehonest

Debt_Free_Chick wrote: »

I would normally agree with this - and generally, I do. But in my area (rural East Sussex) properties up to c£300k are selling but those above £400k are not. Very many on the market for nearly 12 months now, whilst those around £300k are going very quickly.

Up to £300k would be suitable for locals, but anything over £400k is likely to be affordable only for those moving in to the area from somewhere more expensive like Sevenoaks or London.

I really think it depends on the area. As we know, there is no such thing as "a property market". The market is specific to the area.

property.advert wrote: »

Then they are all overpriced and simply following the herd in terms of valuations.

If 99% of your target market cannot afford your property then you are still not going to be able to sell it for some high price to some dim sap moving into the area as there are 50 other locals looking to hook the one fish available and 10 minutes worth of research will have the newcomer offering 25% less than the asking price.

It doesn't work that way, though, does it, property.advert?
Many areas have never been within range of local buyers.
Local buyers means local wages & those wages have never been high enough to purchase large rural properties unless they were, for example, already farmers who owned their own place.

Rural wages have always traditionally meant renting or living in tied properties. Even 25% reductions wouldn't bring many of these properties into the local wage bracket.
Of course, if anyone wants to put somewhere on the market at a really silly low price then it will sell but that's no more sensible than holding out for a ridiculously high price.

If the large properties all decided to sell at locally affordable levels then the vast majority of properties wouldn't be worth a penny.
I'm not sure that is what the majority of homeowners would want.

geoffky

Johnhowell wrote: »

Business_man kindly do not Private Message me about your property buying company.

Outragous behaviour..Get the shmock out of here..

DRP

It is now 10 weeks 6 days on the market.. we have just accepted an offer of 95% of asking... cash buyer so we should be moving quickly with any luck

Now it is time to find a place to buy - the market is remarkably barren here at the moment

PipPip

We are due to exchange contracts on ours next week. We paid £350k for it in 2006 and spent £25k updating and redecorating. In July 2011 we put it on for £400k after the best three local agents valued it at £400k, £425k and £450k respectively. Well after 10 months, many viewings and 2 price drops we accepted £340k for it. The house is in South Glos in supposedly a steady area and near good primary schools. We are fed up with houses, we also lost money on our previous house bought in 2003 and sold in 2006 after the local primary was closed. That was our first house. Decided to never move again from the next one as aged 40 I have so far lost nearly £80k on houses if you include stamp duty, compard to friends who bought in their early 20s who have made hundreds of thousands.

robatwork

PipPip wrote: »

We are due to exchange contracts on ours next week. We paid £350k for it in 2006 and spent £25k updating and redecorating. In July 2011 we put it on for £400k after the best three local agents valued it at £400k, £425k and £450k respectively. Well after 10 months, many viewings and 2 price drops we accepted £340k for it. The house is in South Glos in supposedly a steady area and near good primary schools. We are fed up with houses, we also lost money on our previous house bought in 2003 and sold in 2006 after the local primary was closed. That was our first house. Decided to never move again from the next one as aged 40 I have so far lost nearly £80k on houses if you include stamp duty, compard to friends who bought in their early 20s who have made hundreds of thousands.

You have been terribly unfortunate from the sounds of that. Of course people will advise you that a house is a place to live and not always an investment- but from 2003 to 2006 prices generally went up so you were unlucky with that one. 2006 to now most people are saying they are getting about the purchase price so that isn't so surprising.....

I suppose you can console yourself that you're living in well above average accommodation for the UK in general?

PipPip

robatwork wrote: »

You have been terribly unfortunate from the sounds of that. Of course people will advise you that a house is a place to live and not always an investment- but from 2003 to 2006 prices generally went up so you were unlucky with that one. 2006 to now most people are saying they are getting about the purchase price so that isn't so surprising.....

I suppose you can console yourself that you're living in well above average accommodation for the UK in general?

Yes I guess so but on my income which is good and at this stage in my life I hoped to have a reasonable pension fund and a small mortgage like my parents. I have neither and despite my high income find we are forever economizing. It gets very tedious.