To Exchange if we Brexit

jhyt89

Of couse it's morally wrong to the OP.

Those factors are nothing to do with the property. They are due to the uncertainty in your own mind. The market price is the price you offered. Once that is offered you either stick with it or withdraw.

If you are haggling with someone over the EU, you are taking advantage of them for your own personal gain. That is not cool. Put yourself in their shoes. Then you will understand.

Not to mention that the seller can say he wants to jack the price up in anticipation of future events...

hazyjo

tbh, you don't sound ready to buy.


Buying property is ALWAYS a risk in the short term.
There are LOADS of things to worry about. You seem to be focusing on just one.


What if you split up? What if you lose your job? What if there's a recession? What if prices go up - will you ever afford to move? (Not to mention the small chance of a plane landing on your house, a sewage plant being built a mile away, subsidence, neighbours from hell, the list goes on...)


Brexit is just one. And there's no more guarantee that will affect you as one of the others I listed will. If anything, more people may decide to sell in panic and the prices may first increase! Nobody knows!


Make sure your mortgage deal is portable.


Jx

anna_1977

Personally I don't think the market will fall by 18% overnight as you have suggested - not entirely sure it would fall at all.

I've sold my house to a cash buyer and waiting for it to go through, if he asked for a reduction for this reason I would tell him exactly where to go!

sam3103

I am about to exchange on a property and this thought hasn't once crossed my mind. I am paying what the property is worth now.

theGrinch

OP will people suddenly not need houses and abandon civilisation on 24 June?

ElsieMonkey

david171 wrote: »

We are accepting a huge risk if we agree to proceed should we brexit.
There is no concrete risk proven. That's like saying you want a price reduction just in case the house falls down some time after you move in (even though your surveyor couldn't prove that this would likely happen)
I'm sure we can all agree there will be a large degree of uncertainty if we do leave.
No we can't agree. That's the point, no one knows. There is also an equal degree of uncertainty if we stay! The EU won't always be as it is today, they do, like anyone or anything anywhere, have plans to develop and grow.
The vendor is chain free, moving into rented, so where is the risk for them?
I really don't get what you mean by this. Surely the risk to them is in accepting too little for their house when it turns out there was absolutely no reason to!

I have to be honest, when I read your question I couldn't quite believe what I was reading. No one knows what will happen if we leave, or what will happen if we stay. No one knows even if anything at all will happen! And should anything happen do you really think you'll wake up the next morning, or even the next year in a completely different dimension?! If I was the vendor and got asked what you're proposing, I'd laugh from pure disbelief and quite honestly think you've lost the plot. I'm not denying that the thoughts you're having aren't on peoples minds, or shouldn't be on yours, but there's a difference between thought and reality.

I do think that if you can't get your head around buying at the price you have agreed to, do the right thing and pull out now. The right thing is not to mess the vendor about at the last minute. This is not all about you, there are other people and their lives involved in this process too.

Miss_Samantha

There is no doubt that leaving the EU will have negative consequences. Claiming that the level of uncertainty is equal for both outcomes is plainly delusory.

Interestingly, commercial property investors have been including "Brexit clauses" in contracts, allowing them to pull out of deals if the country votes to leave the EU.

Perhaps OP could suggest the same to his seller? (Though I think the seller will just laugh it off)

Davesnave

Miss_Samantha wrote: »

There is no doubt that leaving the EU will have negative consequences. Claiming that the level of uncertainty is equal for both outcomes is plainly delusory.

But we cannot predict accurately very far into the future, so there's no telling what the consequences of staying in or leaving might be in, say, 10 years time.

Governments ought to plan well ahead, but of course they generally don't, and the electorate are even worse in this respect.

Miss_Samantha

Davesnave wrote: »

But we cannot predict accurately very far into the future, so there's no telling what the consequences of staying in or leaving might be in, say, 10 years time.

There is no telling what the consequences of jumping off a cliff will be because I cannot predict the future.

ElsieMonkey

Miss_Samantha wrote: »

There is no telling what the consequences of jumping off a cliff will be because I cannot predict the future.

You said "There is no doubt that leaving the EU will have negative consequences." Which strongly implies you can predict the future, or that you know something all experts have so far not been able to predict and agree on.

Anyway, we've already jumped off a cliff, we're in the EU. :rotfl: