We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
House reduced price then fell through
ben_m_g
Posts: 410 Forumite
Hi all,
More thinking out loud, but comments are appreciated.
We are putting our house on the market now, and have already seen a house we really like (right area, price and size) the only one for sale at the moment, that really ticks all the boxes.
Things looked good, as it has been on the market for three months and they changed their asking price from £190,000 to a "guide price" of £185,000 - £190,000.
I know it's a bit stupid to focus on this one house, especially when ours doesn't have a buyer yet, but I noticed something online that concerned me.
The house went from multi-agent to sole agent, after ringing the estate agent, they told me that they had a sale that fell through (great, I thought), in doing so they had agreed on a price for £191,00 and would not be accepting any offer less than this.
Annoyingly £185,000 would have been ideal, under budget with money left to update the house. £190 would be borrowing more than is comfortably affordable.
How long before a failed sale would you consider an offer like mine?
- House on market (priced to sell).
- Mortgage agreed in principal.
- First offer at 185, second offer at 187
More thinking out loud, but comments are appreciated.
We are putting our house on the market now, and have already seen a house we really like (right area, price and size) the only one for sale at the moment, that really ticks all the boxes.
Things looked good, as it has been on the market for three months and they changed their asking price from £190,000 to a "guide price" of £185,000 - £190,000.
I know it's a bit stupid to focus on this one house, especially when ours doesn't have a buyer yet, but I noticed something online that concerned me.
The house went from multi-agent to sole agent, after ringing the estate agent, they told me that they had a sale that fell through (great, I thought), in doing so they had agreed on a price for £191,00 and would not be accepting any offer less than this.
Annoyingly £185,000 would have been ideal, under budget with money left to update the house. £190 would be borrowing more than is comfortably affordable.
How long before a failed sale would you consider an offer like mine?
- House on market (priced to sell).
- Mortgage agreed in principal.
- First offer at 185, second offer at 187
0
Comments
-
Arrange a viewing; meet the owners; take it from there.0
-
None of us have met the vendor so know what they're like. Some people just have an amount they want to sell for and nothing will change that. Even if they end up never selling.
Some will become move-able after a time, if they want to sell.
The only way you're going to be able to tell is to meet them and talk to them. But any offers will be taken a lot more seriously once you have a buyer yourself.0 -
How long before a failed sale would you consider an offer like mine?
Every Human mind is unique.
She might me mad, laid back, desperate, stubborn, pernicious, mean, kind and whatever other traits one can imagine all of which would have a baring on her decision.
Talk to her / the agent.0 -
With the figures as tight as this, it sounds as if you need to get a firm offer on your house before you consider this any further. If just 5k makes the difference, you need to know exactly how much you are getting in order to know how much you have to play with.0
-
Every Human mind is unique.
She might me mad, laid back, desperate, stubborn, pernicious, mean, kind and whatever other traits one can imagine all of which would have a baring on her decision.
Talk to her / the agent.
What makes you think it's a she? Your mind reading skills are as unique as it gets, conrad.
0 -
Make an offer, and tell the estate agent you will put your own property on with them if it is accepted.0
-
Regarding the focussing on one house aspect - we recently did this successfully so it can work out ok.....
We saw a house that was ideal - and I'm talking very *niche market* period house here - and ours was not yet on the market. Having viewed said house we did put in a tentative offer, explaining that ours was soon to hit RM etc, but our offer was not taken seriously by vendor or EA.
This spurred us to finish off a few jobs - ours was a huge project that we'd almost completed at that point - and get the EAs round. Very fortunately for us we accepted an offer quickly in a location that was fairly stagnant - unless you had something that stood out from the crowd - and the house we wanted was still available.
It too had been under offer then the sale fell through - we felt it was *meant to be* lol!
We completed on sale and purchase a few weeks later
Give it your best shot and emphasise how serious you are. After our initial viewing we kept in regular contact by phone/email with the EA selling the house we wanted, just to let them know our position etc....Mortgage-free for fourteen years!
Over £40,000 mis-sold PPI reclaimed0 -
With the figures as tight as this, it sounds as if you need to get a firm offer on your house before you consider this any further. If just 5k makes the difference, you need to know exactly how much you are getting in order to know how much you have to play with.
Agree with this. As a seller, I wouldn't accept an offer from someone who hadn't yet accepted an offer on their own property0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards