Revised Offer - What do I have to declare?

jimpix12

Ian why get upset over it? When the market crashes no amount of ramping on here can change that. If people are stupid enough to listen to the advice of some unknown posters with dubious interests on an Internet forum then let them get on with it.

Linton

anotheruser wrote: »

.......
It's strange as I read stories of people nearly always offering lower than the asking price (yes, sometimes higher too), so I almost thought this was commonplace. Just like a car - would you pay the list price without bargaining? Hmm.

We offered 2.4% less than the asking price - it's not £10k or anything...

Plus - it's highly unlikely our mortgage will be rejected.
The home owner has packed up and is ready to move into a new house too so would cause a lot of hassle for everyone. Looking at the housing market at the moment, maybe the home owner wouldn't get another buyer - since the EU Referendum, not many new houses have appeared in the area we're looking at.

It's not an unreasonable amount - surely?

.......

You seem to have missed the point or we have misunderstood your story. From what you have said it seems you and the seller have agreed a price. That could have been well below or above the asking price, it doesnt matter, a price has been agreed. For you to come back later and renege on your offer without warning is a serious matter as it can destroy the trust that is really needed if a sale is to go smoothly. As a seller I would be extremely suspicious that you may repeat the trick just before exchange. OK you may have good reasons, but a change in offer needs to be justified in a way that retains trust.

Harper123

iantojones40 wrote: »

Says yet another home owner who can't even comprehend the possibility of even a minor fall in prices without it resulting in a sleepless night.

It's so blatant it's laughable, the attitude of homeowners on here, insisting that there is never a bad time to buy a house, you can never pay too much for a house, it's all about supply and demand, hpi forever and ever, anyone not prepared to pay full asking price for a house is a chancer and timewaster with the morals of a rattle snake, debt is an asset etc etc etc

I can just about understand this attitude from people who've just recently bought into the property bubble and are facing a lifetime of joint income mortgage payments, being worried about any potential N.E. but there are plenty of other people who are mortgage free and have 100% equity in their properties who are equally as vociferous at ramping the market and desperately trying to urge people to buy, buy, buy at any cost.

Just for the record I own my home, mortgage free and it's worth over 3 times what I paid for it, but as an owner occupier I realise that this insane level of hpi is of no benefit at all, either to me personally or wider society.

Why such anger? There seems to be 4 or 5 of you on here that are like tightly wound coils waiting to explode. You're so desperate for prices to come crashing down you're exploding over every thread and everyone. I get it. Times are hard. House prices are high. But don't let it take over your lives. Posting the same thing on every thread going is not going to change anything.

marksoton

anotheruser wrote: »

Plus, that section of the house looks like a half-finished decoration.

You want a price reduction partially based on lack of decoration!? Wow....

I suggest you look for a new build.

KRB2725

There is a big difference between making an offer under asking price and gazundering - reducing your already accepted offer.

Unless there is a survey with a lower valuation than the price you are paying then I doubt your tactics will go down well.

I have no agenda, just an opinion.

Davesnave

spunko2010 wrote: »

If people are stupid enough to listen to the advice of some unknown posters with dubious interests on an Internet forum then let them get on with it.

I'll admit to being largely unknown, but my activities over the years have been well documented on MSE.

In 2008, My wife and I sold to rent, anticipating further falls. Eventually, at the bottom of the market, we bought a smallholding for cash from a highly motivated seller.

It's now much nicer than the property we used to own, but not without a great deal of hard work

Dubious interests?

Err... We have sheep...... :rotfl:

Harper123

Davesnave wrote: »

I'll admit to being largely unknown, but my activities over the years have been well documented on MSE.

In 2008, My wife and I sold to rent, anticipating further falls. Eventually, at the bottom of the market, we bought a smallholding for cash from a highly motivated seller.

It's now much nicer than the property we used to own, but not without a great deal of hard work

Dubious interests?

Err... We have sheep...... :rotfl:

In 2013 I bought my first home. I've recently sold it having made over 25%. I also paid off £12,000 of my mortgage.

This now gives me a very substantial deposit for my next home.

The funny thing is I read this forum within an inch of its life in the 6 months before buying. And if I'd have listened to some of the same people posting now I wouldn't have bought and would still be renting.

I'm not saying prices won't crash. I don't know. And neither does anyone else. Unless they have a crystal ball. In which case can I borrow it

Detroit

spunko2010 wrote: »

Ian why get upset over it? When the market crashes no amount of ramping on here can change that. If people are stupid enough to listen to the advice of some unknown posters with dubious interests on an Internet forum then let them get on with it.

You come onto an internet forum that exists for the purpose of people giving and listening to the advice of unknown posters, and suggest that the people who do this are stupid?

You clearly have a message to get across. I'm not sure alienating your audience is the most effective means to achieve your end.

Argghhh

i think it would depend on if you offered full asking price to start with.. if you did then i dont think 3k is unreasonable, if you lowered offer prior to survey then i would say sorry i accepted lower off you on basis there might be a cpl of grand work to do at survey
equally so, only you know how desperate seller is to sell, maybe go 3k and compromise at 2k

Davesnave

Harper123 wrote: »

The funny thing is I read this forum within an inch of its life in the 6 months before buying. And if I'd have listened to some of the same people posting now I wouldn't have bought and would still be renting.

I did the reading too, mostly on the 'Debate' board.

My point was that in 2008 I was like those people posting here now, hoping for a big fall, once I'd sold of course!

The falls happened, but in the reality of a reduced and dysfunctional market, it was tough getting what I was after.

I'd say that the main thing I gained was time; important for an older person. For FTBs like you, it was a window of opportunity if the finance was there, but people forget that you do it without the crystal ball of hindsight!