Lowering your offer ?

Davesnave

If you are wavering over £2k, the house isn't good enough.

I bought my first house, because it offered something others in the same price range didn't. I knew I was paying a little more than comparables cost, but I was happy to go ahead because I valued the extra 'something.'

If any other similar house would suit you just as well, it's not right for you.

GingerFurball_2

Assuming you're putting down a 10% deposit then that means in the immediate short tern you're spending £16,200 instead of £16,000. On a mortgage that goes to a SVR of 3.99%, you're saving £10 a month.

Wire in if you want to muck the sellers about and potentially lose the place but you're haggling over nothing.

kilby_007

2K off 162K is not worth messing about for if you really want the house. On the other hand if you can take it or leave it and you're going to haggle a discount then make it a decent one (10-20K) and use the recent reports of decreasing home values as your justification, but bear in mind you will be speculating about future prices and you might still be seen as a time waster.

BLOW_FLY

In the grand scheme of things if you're worried about £2k and things are that tight you probably can't afford the house!

BF

Crashy_Time

ACG wrote: »

If you did this to me as a vendor based on Zoopla, I would relist and disregard you as a buyer.

Zoopla is an estimate. If it estimated the purchase price as more would you go back and increase your offer (no question mark as it is not a real question).

Is the property worth what you offered in YOUR opinion or not?

Many sellers now don`t have that option though?

ACG

That may be the case but I am a man of my word. If I agree something I stand by it.

Aside from that Zoopla is not a valid reason (in my opinion) to reduce your offer.

So on principle I would not sell to someone who did that this.

PixelPound

Of course in England you can do anything right up until the contracts have changed, however you have agreed a verbal contract in which I assume the seller won't look for other offers?

If you look at the converse situation, the seller looked on Zoopla and sees that they have changed valuations and now say the property is worth £164k, now they could say to you that they think £162K is too low and now want £164K - how would that make you feel? Would you say "fair enough, if Zoopla says its worth more...", I doubt it.

The real question is why do you think it's worth pushing to reduce by £2K: is it not exactly what you want and the change will be a sweetener; you are only aiming to stay in the property for a year or two so it will help improve the sell-on margin; no matter what you buy you always want to feel you pushed for a deal.

Adly812

Haha, thank you. £2k is a large amount of money. In my opinion. Reason I think it's worth about 160 only, is based on other flats that are similar on the market ATM. I've seen a few in that area for around the 160 mark. And thought if I can save myself 2k by gazundering... Wouldn't you , if it was justified? Not trying to be immoral, but like toners mentioned above. Sellers don't have issues asking for inflated prices.

robatwork

I still want to learn more about this gas underwing.

Is it the way that planes stay up in the air? I've often considered the longer we think about how planes fly, the more likely they are to realise they can't.

ScorpiondeRooftrouser

Smb3088 wrote: »

Haha, thank you. £2k is a large amount of money. In my opinion. Reason I think it's worth about 160 only, is based on other flats that are similar on the market ATM. I've seen a few in that area for around the 160 mark. And thought if I can save myself 2k by gazundering... Wouldn't you , if it was justified? Not trying to be immoral, but like toners mentioned above. Sellers don't have issues asking for inflated prices.

No, I wouldn't. Asking for inflated prices is one thing, turning round after agreement and asking for more is the equivalent of what you want to do. If a buyer tried that on me I'd tell them to *** off and look for someone else.

If you think you are overpaying - and £2k is nothing, in the scale of things - then pull out. Walk away. That's your option. not quibbling about 1% of the cost based on Zoopla estimates. You'd mark yourself out as untrustworthy and stupid, and nobody could possibly believe a deal could go smoothly after that.