My house Buyer Has Pulled Out Hours After Brexit . .

Maxwell007

yes we going to take off 10k and see what happens

DRFC1879

Depending if you're in a hurry to move, it could be worth sitting it out a bit longer. Some say prices will fall up to 20% but I wouldn't be surprised to see short-term rises in demand (and therefore prices) as EU immigrants who've been thinking about coming to Britain make the choice to act now before it's too late for them.


Also as above a 2 bed flat costs £400k and is considered a "forever home"?! Wow, I'm glad I live in the impoverished North!

brodawel

Maxwell007 wrote: »

yes we going to take off 10k and see what happens

No, I wouldn't do that, I'd keep the price the same but be prepared to knock off more when you get an offer. Reducing the asking price by £10K will not make a difference, the same people will view it either way. If you can afford to take £10K less then let the buyer feel they have got a good reduction off the asking price. They will think they have done well and hopefully proceed with the purchase.

Money_saving_maniac

brodawel wrote: »

No, I wouldn't do that, I'd keep the price the same but be prepared to knock off more when you get an offer. Reducing the asking price by £10K will not make a difference, the same people will view it either way. If you can afford to take £10K less then let the buyer feel they have got a good reduction off the asking price. They will think they have done well and hopefully proceed with the purchase.

Or they won't even view it because it won't come up in their price band on searches on the net.

Lioness_Twinkletoes

Maxwell007 wrote: »

all I want is 400k that not a lot to ask is it . . .

Um, yes. It is a ridiculous price for a 2 bed flat.

kelpie35

where I stay you can get a 2 bedroom flat with garden for £60,000

StumpyPumpy

Money_saving_maniac wrote: »

Or they won't even view it because it won't come up in their price band on searches on the net.

If it was on at £400k and they reduce it by £10k to £390k it will stay in the same price band (both Rightmove and Zoopla use £25k bands at those prices: they'd have to drop £25k to £375k to get into a lower band.

SP

indianabones

Maxwell007 wrote: »

all I want is 400k that not a lot to ask is it . . .

400k for a 2 bed flat whatever the condition or the size is ridiculous.

The average 3 bed semi should cost 5 times the average salary. If the average salary in London is 40k (it's probably much less) then you should be able to buy a 3 bed semi for 200k max.

You can soon see why very few of us have sympathy for you or those in a similar position to you.

upoiupou

I'm kind of torn at how insane London property prices are, and at the same time I understand why someone would choose to live in London rather than in a different, cheaper region. Others may have no interest in the cosmopolitan, lively, varied, open-minded, mixed, vibrant, culture-rich, fascinating, wonderful experience that living in the capital city can offer. If so, that's fine. Just, perhaps accept that others may feel differently, and may be getting paid a much better salary because of their location?

When it comes to living in London, I think you either get it or you don't. The things that London offers are either important to you or they're not. I suggest disregarding negative comments about the London economy and focussing on your question in hand.

You haven't said what your onward position is. Buying another property in London, or outside it? Renting? Moving in with an existing property owner somewhere? Without knowing the context of your onward move, it's difficult to give an opinion.

(But I will give my opinion that living in London is like living nowhere else in the country and it's worth paying for if it's worth it for you. There isn't anywhere else like it and if it's not just about money but also about personal preference for the things that only London can offer, the experience can trump the finances. Horses for courses. Live and let live. )

DRP

indianabones wrote: »

400k for a 2 bed flat whatever the condition or the size is ridiculous.

The average 3 bed semi should cost 5 times the average salary. If the average salary in London is 40k (it's probably much less) then you should be able to buy a 3 bed semi for 200k max.

You can soon see why very few of us have sympathy for you or those in a similar position to you.

I've never lived in london, but nowhere i've lived (SE, SW, S.Wales) can you buy a 3-bed semi for 200k.

I agree with your argument that london is over-priced, but no need to overstate it.