What to offer post-referendum?

HouseBuyer77

We're in seriously uncharted territory here. It seems likely a conservative government will want to activate article 50 (who knows what a labour government would want...) but there are no confirmations or guarantees of anything.

Crashy_Time

guestiee wrote: »

Hi all,


Sorry for another post brexit house price question. However mine is slightly different.


We placed a bid on a home in March for 202k, we hadn't sold ours so they declined. The Estate Agents were a little naughty and implied that if we upped are bid they might accept even though we weren't procedable. My Fiancee took that call and excitedly jumped the price up to 210. They still declined.


The house is now back on market. I heard advise yesterday that offers should drop 5% because of Brexit. Is this fair as I already offered 210? We want the house but are concerned of the risk

5%, how precise. I would first ask myself how many of the people predicting this amount managed to predict the Brexit, and what they are basing the 5% figure on. They must be quite something if they know what is going to happen economically at this stage?

Crashy_Time

TrickyTree83 wrote: »

Right, so if a new tory PM gets in on a ticket of not issuing article 50, holding another referendum Cameron is going to be correct is he?

You can not possibly know what is to come over the next few months. Only when the government position becomes crystal clear can you make such statements.

Did you read what he said about "Head in the sand"? If the Conservative party deny the democratic will of the people on this they are finished, and there will be large scale civil unrest.

sheff6107

The buyer will not go "oh, that's 5% less than I was expecting but society and etiquette dictate I should be happy to accept."

He'll have a figure in his head and that figure will be the same as last week.

He might accept your offer, he might counter offer, he might refuse to sell to you or take the house off the market. As always was.

TrickyTree83

Crashy_Time wrote: »

Did you read what he said about "Head in the sand"? If the Conservative party deny the democratic will of the people on this they are finished, and there will be large scale civil unrest.

What politicians say and what they do and all that...

There are many factors at play, discontent of a very large minority. The Scottish question. The Northern Irish question. The Calais question. The single market & freedom of movement question. The referendum being not legally binding and the majority of MP's supporting remain question.

Far from certain no matter what Dave tells you.

ElsieMonkey

cashbackproblems wrote: »

we are part of the EU but its not speculation that we wont be in the future...that is CONFIFMED! that is a fact today!

There are plenty of negatives out there already which WILL impact price e.g. future employment warnings (a mortgage is a 25 year commitment so your point on just considering the today is absurd).

People are already pulling out of deals and buyers offering less by big margins.

My point isn't ABSURD (how rude). My point was (looks like I'm going to have to repeat it) I understand, and believe, people are within their rights to question, to be cautious, BUT do it in their own time. Don't leave the vendor hanging, or mess the vendor about by suddenly offering lower than the agreed purchase price (and seriously, how much do people think they're going to knock off, and for what reason? For the reason that something MAY happen?). There is absolutely no reason for a vendor at the moment to accept lower than they did leading up to the referendum. It's all pure speculation, and nothing is certain, just as nothing is EVER certain, pre or post referendum.

I think it's a disgrace the way many people behave during a property sale/purchase. It may be a lot of money and a decision that may impact your life, but there is also someone else in the same position on the receiving end. If people feel they have to change their minds, based on little more than a prediction, do the decent thing and hurry up and do it and just pull out all together and leave the serious buyers to get on with it.

cashbackproblems

Crashy_Time wrote: »

Did you read what he said about "Head in the sand"? If the Conservative party deny the democratic will of the people on this they are finished, and there will be large scale civil unrest.

Exactly, for people doubting this wont happen is baffling. Both sides have said this will happen and should happen asap, the most likely next PM Boris is of course going to activate it and even Theresa May will as she as always been anti-EU but she is a career politician so toed the party line.

cashbackproblems

ElsieMonkey wrote: »

My point isn't ABSURD (how rude). My point was (looks like I'm going to have to repeat it) I understand, and believe, people are within their rights to question, to be cautious, BUT do it in their own time. Don't leave the vendor hanging, or mess the vendor about by suddenly offering lower than the agreed purchase price (and seriously, how much do people think their going to knock off, and for what reason? For the reason that something MAY happen?). There is absolutely no reason for a vendor at the moment to accept lower than they did leading up to the referendum. It's all pure speculation, and nothing is certain, just as nothing is EVER certain, pre or post referendum or not.

I think it's a disgrace the way many people behave during a property sale/purchase. It may be a lot of money and a decision that may impact your life, but there is also someone else in the same position on the receiving end. If people feel they have to change their minds, based on little more than a prediction, do the decent thing and hurry up and do it and just pull out all together and leave the serious buyers to get on with it.

So you think its a disgrace that people offer what a asset is worth to them (no perfect calculation to price a house too many variables) at that point in time and based on their confidence, instead they should not hurt the vendors feelings or inconvenience them and offer 50k more than its worth??? :rotfl:

I agree with your point people should just make their reduced offer and/pull out and not hang around.

guestiee

Wow. It looks like I've opened a can of worms. I was listening to BBC radio 5 yesterday and an 'expert' was on suggesting 5 percent. So I asked on here for opinions on whether it was right or wrong. Taking in to account also my change in situation.

TrickyTree83

I apologise if myself and others have hijacked this thread. I suppose feelings are running high.

There is no certainty at the moment I'm afraid, anyone who says otherwise is quite frankly just wrong. All the noise at the moment is that article 50 will be invoked, but if a snap election is called and 48% of the population vote for the Lib Dems who say they will ignore the referendum and keep us in the EU all this is for nothing isn't it. There's just too much uncertainty until we get a new PM and a clear government position.