Feeling a little bit forced...

Crashy_Time

AnotherJoe wrote: »

Thought experiment.
It's Friday 9am and you call to offer £180k.
"Sorry they accepted £178k yesterday."

How gutted would you be? That should guide you.

In the meantime, why not go back for a second visit tomorrow and if its as good as you remembr, then make your offer there and then.

Or 18 months later it`s back on the market for 120k, how un-gutted would you be? :rotfl:Walk away from this, the seller still thinks it is 2007.

lisyloo

You should not feel rushed/fored although these people are skilled negotiators.
However if you really want it I'd pay to get it.
A few £ks in a decades time will be nothing but if you lose it would you be gutted?

Crashy_Time

lisyloo wrote: »

You should not feel rushed/fored although these people are skilled negotiators.
However if you really want it I'd pay to get it.
A few £ks in a decades time will be nothing but if you lose it would you be gutted?

Quite a few £k`s will be lost in well under a decade IMO, try just after a messy Brexit and EU blow up due to problems in Italy/Germany.

AnotherJoe

Crashy_Time wrote: »

Or 18 months later it`s back on the market for 120k, how un-gutted would you be? :rotfl:Walk away from this, the seller still thinks it is 2007.

Yeh, because your predictions have always been so spot on LOL. . Back in 2007 I bought a house for £200k exactly, right at the peak (then) as ut turned out . I reckon it then fell to £150--£160k by 2010. I sold it in 2014 for £250k exactly.
And in the meantime I wasn't paying about £800 a month rent instead of about the same on a mortgage (i bought cash so it's hard to be sure). . Now to be fair I could have waited until 2010 to buy, but then again neither did you buy in 2010 because you are fixated on there never being a a bottom, and thats why have ended up paying rent for the last 20 years which would have pretty much bought you a house by now.
And more to the point, you'll be paying rent for the next 20 years as well.and the 20 years after that . In the meantime, ovr those 60 years, paying other people's mortgages for them.

Crashy_Time

AnotherJoe wrote: »

Yeh, because your predictions have always been so spot on LOL. . Back in 2007 I bought a house for £200k exactly, right at the peak (then) as ut turned out . I reckon it then fell to £150--£160k by 2010. I sold it in 2014 for £250k exactly.
And in the meantime I wasn't paying about £800 a month rent instead of about the same on a mortgage (i bought cash so it's hard to be sure). . Now to be fair I could have waited until 2010 to buy, but then again neither did you buy in 2010 because you are fixated on there never being a a bottom, and thats why have ended up paying rent for the last 20 years which would have pretty much bought you a house by now.
And more to the point, you'll be paying rent for the next 20 years as well.and the 20 years after that . In the meantime, ovr those 60 years, paying other people's mortgages for them.

The OP is buying now, 2018, with Brexit on the horizon, and big troubles in the EU (Germany and Italy) After 2007 the world`s central banks worked together to bail out the big debt holders, and this had the knock on effect for over-leveraged property borrowers of keeping their mortgage rates down. The world`s central banks are no longer working together to bail out debt holders, the US is actively signalling the end of the low rates era, and volatility in the EZ will mean even higher rate spikes IMO. You managed to sell a house because you sold at the peak of the property delusion, before Brexit etc. brought reality back to the table. Many people now won`t be able to sell, meaning they are stuck with a purchase that was meant to be a stepping stone but has turned out to be a very illiquid investment. It is also possible to rent for much much less than 800 p.m.

ACG

Crashy time thinks the proeprty is overpriced without knowing anything about the property....hmm seems you have not changed at all.

Why would you give the agent an AIP showing £180k? The agent has done their job, to push you as far as you will/can go. You could go back and say £178k or whatever but you are negotitiing for £2k and the agent knows you can do and are more likely to do it than not.

You might be able to get a bit off the asking price but you are in the losing position so I would accept it will be £180k unless you get lucky (or pull out).

Crashy_Time

How much did the work done to the house (original purchase price 107k?) cost?

Caraway90

If you love it and are happy to pay 180 then just call the estate agents and let them know. Someone could offer 185 tomorrow, you have no idea!

No one is forcing you to buy this house. If you're considering waiting then how much do you really want it?

lisyloo

Crashy_Time wrote: »

Quite a few £k`s will be lost in well under a decade IMO, try just after a messy Brexit and EU blow up due to problems in Italy/Germany.

There is always something to worry about, but long term buying is better than renting and trying to guess the market and MOST of the time short-term negative equity is not an issue.


I went into negative equity after buying in 1991.
It was never an issue.

I now have my dream (5-bed) home and no mortagage at 50, so no payments for the next 40 years !!
I don't claim to have done anything spectacular only being prudent.



You on the other hand are still in a run-down bedsit in shared acommodation? and still not a great catch for the ladies.


In general fortune favours the brave.


Whichever way things go a few £ks is nothing in the scheme of things and sometimes you have to pay a slight premium to secure what you want.

Crashy_Time

lisyloo wrote: »

There is always something to worry about, but long term buying is better than renting and trying to guess the market and MOST of the time short-term negative equity is not an issue.


I went into negative equity after buying in 1991.
It was never an issue.

I now have my dream (5-bed) home and no mortagage at 50, so no payments for the next 40 years !!
I don't claim to have done anything spectacular only being prudent.



You on the other hand are still in a run-down bedsit in shared acommodation? and still not a great catch for the ladies.


In general fortune favours the brave.


Whichever way things go a few £ks is nothing in the scheme of things and sometimes you have to pay a slight premium to secure what you want.

Where did you get this information? :rotfl: As ever your advice for people buying property could get them into a lot of negative equity in this market, just because NE was "never an issue" for you in the early 90`s doesn`t mean it won`t be an issue for someone buying now, and not everyone wants to stay in the same house for 60 years either