Lowering your offer ?

ACG

Do you feel you are overpaying or do you feel you are overpaying because Zoopla says so?

I have recently sold my house (hopefully will complete in a week or 2). I sold my house for £155k. I had 2 offers for the asking price and a surveyor has been out and valued it at £155k.

According to Zoopla, my house is worth £127k.

If you go back and offer less and they tell you forget it and they are not selling to you - how would you feel?

If they reject your lower offer and hold out for the higher offer and you change your mind again - would they accept your offer again?

For the sake of £2-3000 would you be happy to lose the property?

Thrugelmir

Smb3088 wrote: »

I think I'm paying £2000/3000 more than it's worth.

To put matters into context. How much have offered for the property?

cashbackproblems

Of course you can reduce your offer you have not exchanged or even close to. People routinely renegotiate after surveys etc. Zoopla is just an estimate but a decent one.

Thrugelmir

cashbackproblems wrote: »

Zoopla is just an estimate but a decent one.

I revalued my own property upwards by updating the details.........:T

I therefore wondered what the value was actually based on. As without a physical inspection how can you compare even similar properties in the same street. A total gimmick.

hazyjo

Zoopla undervalues my house by nearly £100k and the one I want by over the same amount.

It overvalued my last house by around £150k.

As above - ignore it!

Surely you've been checking out the market - what properties are up for and what they sell for. There is scientific formula. It's about supply and demand.

Jx

Adly812

I offered 162k, I think after searching the right move sites for over 6 months. My opinion is it should be priced at 160k, to compare to its other similar properties on the market. It's a top floor flat 62m sq. one parking space. To be fair the market is not flooded with choice in my area. And also it was on the market for about 6 weeks. Think besides zoopla this points to slightly overpriced. Not a lot. But certainly a bit. I don't want to lose it but I'm a firm believer what's meant to be will be. So I think maybe a risk in gazundering might benefit in this case?

davidmcn

I wouldn't risk pi55ing off the seller over a 1.2% difference in valuation. No idea how you've determined that it is worth 160k but not 162k.

Mickygg

cashbackproblems wrote: »

Of course you can reduce your offer you have not exchanged or even close to. People routinely renegotiate after surveys etc. Zoopla is just an estimate but a decent one.

Oh dear god no. When did zoopla pop round any of these houses to value? By suggesting zoopla is a decent estimate it causes people like the OP to use it when offering on a house.

It's an estimate, and only an estimate.

warby68

You've 'shaken hands' on a deal - nothing has changed other than your mind.

That is the point - vendors lose confidence in people who don't stick to their word.

Survey results are different as that it what the offer is subject to.

As a vendor, I would not sell to you if you tried this as I wouldn't trust you not to mess me about further. Kind view - you're a ditherer, unkind view - you're trying to shaft me and might do again. Either way, I'd be out.

If you've changed your mind fair enough, the system allows you to do this right up until exchange, but just don't expect vendors to play along with you. They might if they need to get the property away but the resentment could lead to other problems to 'get even'.

And don't whatever you do mention Zoopla - its offering a red rag to selling bulls

KRB2725

The difference is so small 160 v 162 I can't work out why you think it's overpriced. Presumably you felt it was worth 162 when you made your offer.