Can we reduce our house price offer?

ANGLICANPAT

Housemouse . Do you reckon you are good at 'knowing' yourselves? If you're the type of people who buy a new entertainment system /car/ holiday ,but then allow it to forever gnaw away and spoil the experience for you when the following day the item is reduced ,-- then if you dont feel 100% happy at a corroborating mortgage valuation, Id walk away, because with house prices as high as they are, you need to feel very comfortable when you look at your mortgage payment every month for years and years and years !! There will be another house come up in that price range that you will love , and next time you'll know better how to use your advantage of being a ready to go buyer. Good Luck

MobileSaver

Crashy_Time wrote: »

"Nutters" in the MSM media joining in now...

Crashy, you joined this site in 2014 with your username "Crashy Time".

Clearly your were wrong about it being "crashy time" in 2014, similarly you were wrong again in 2015 as well, so is 2016 the year for "crashy time"?

Crashy_Time

MobileSaver wrote: »

Crashy, you joined this site in 2014 with your username "Crashy Time".

Clearly your were wrong about it being "crashy time" in 2014, similarly you were wrong again in 2015 as well, so is 2016 the year for "crashy time"?

Doesn`t change the fact that sentiment towards house prices in the mainstream media/culture has shifted quite dramatically recently. Anyone signing up to large debt for a house right now needs to be aware of the prevailing sentiment IMO.

Crashy_Time

ANGLICANPAT wrote: »

Housemouse . Do you reckon you are good at 'knowing' yourselves? If you're the type of people who buy a new entertainment system /car/ holiday ,but then allow it to forever gnaw away and spoil the experience for you when the following day the item is reduced ,-- then if you dont feel 100% happy at a corroborating mortgage valuation, Id walk away, because with house prices as high as they are, you need to feel very comfortable when you look at your mortgage payment every month for years and years and years !! There will be another house come up in that price range that you will love , and next time you'll know better how to use your advantage of being a ready to go buyer. Good Luck

Yep, totally agree.

ANGLICANPAT

Crashy, glad you agree , but its not really on to create an emphasis within someone elses post before you quote it. I did not intend one.

Crashy_Time

ANGLICANPAT wrote: »

Crashy, glad you agree , but its not really on to create an emphasis within someone elses post before you quote it. I did not intend one.

I was emphasising the part I agreed with, standard practice when quoting a post really. However you did also put two exclamation marks after the sentence, in general English usage this tends to emphasise the point anyway.

GaggingOrder

Crashy_Time wrote: »

"Nutters" in the MSM media joining in now...


http://www.independent.co.uk/news/business/news/housing-bubble-has-burst-after-sellers-slash-asking-prices-by-average-of-25265-a7020456.html

There are so many contradictions within that article it hurt to read it. A nice big figure in the headline, but actually the article says fairly minimal change since January.

MobileSaver

Crashy_Time wrote: »

Doesn`t change the fact that ...

As you have been asked on numerous occasions when "crashy time" is and have repeatedly not answered I think it's a fair assumption you have finally realised the crash is not going to happen.

Crashy_Time wrote: »

Anyone signing up to large debt for a house right now needs to be aware of the prevailing sentiment IMO.

Anyone listening to your opinion needs to be aware that you sold up more than 16 years ago and have been renting ever since waiting for a "crash"...

Rents rise as extra stamp duty kicks in

Crashy_Time

GaggingOrder wrote: »

There are so many contradictions within that article it hurt to read it. A nice big figure in the headline, but actually the article says fairly minimal change since January.

And of course there were no contradictions whatsoever in all the articles cheering on ever higher house prices over the years? Of course not....:rotfl:People just see the headlines, and that affects sentiment.


Back to the OP, IMO in this climate no one should be embarrassed to haggle for a much lower than asking price.


http://www.bbc.co.uk/news/business-36266941

housemouse101

Lots of really helpful thoughts and advice - thank you all. We decided not to reduce the offer, given that we do want the house 100%, it is not worth the risk.

A question – when you say to consider reducing the price based on the survey:
a) do you mean the lenders valuation or the homebuyers report which we pay for? Do they both give an estimated house value?
b) what if it says that everything about the house is solid, but they give a value lower than we offered – in this case are we still able to ask to knock off a thousand or two?
Just curious.

And one more, while were talking of crashes - do you think house values will be lowered/increased if we leave europe? We did consider waiting to buy after the referendum. (might sound daft but were not in a rush to move, or we weren't until we found this house we fell in love with, that is....)

Regarding the extra 5k+interest – We both followed MSE advice over the years and as a result have a large deposit - we can afford to chalk this one down as a lesson learned, a mistake on our part. We intend to overpay. Would have been a very different story if it wasn't for this community.