We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Under offer
Comments
-
timeism0ney wrote: »Badger09, so by this logic 20K is about the limit of a reasonable under offer for a 200K property. Does this sound right?
It depends on how popular the property is. If there are likely to be a lot of people interested in it then you may not get anything off the asking price.
Some vendors ask too much and then turn down all offers.0 -
Where is the said property?
50 off is 25% so it depends on how long the property has been on the market, what condition, street sold prices, property purchase, how much mortgage left to pay etc.
I have known people to accept the deal as they are desperate to get rid of property due to financial and personal problems
If you do put offer in, list out the reason for the offer, mention all the cost you will need to renovate, the current property value etc0 -
-
timeism0ney wrote: »We are FTBs and just trying not to do anything silly before the rates go up.
There's also a risk of a down valuation from the bank: https://www.bbc.co.uk/programmes/p06fh4ww
That wouldn't be fun and makes me wonder if it makes sense to be skeptical about asking prices to start with!
Appreciate everyone's responses!
If there’s down valuation from the bank work it to your favour. I saved £2500 thanks to the homebuyer report. I wasn’t going to say no to that as it was a decent amount off for what I paid:T:T :beer: :beer::beer::beer: to the lil one
:beer::beer::beer:0 -
Hang in there. Prices in Bradford are dropping and will carry on.
Put offer in 50k less than asking price with justification. Put a deadline in there for offer and then move on. If you think it's worth 50k less then don't pay more than that and find another property.0 -
timeism0ney wrote: »We are FTBs and just trying not to do anything silly before the rates go up.
Location, location, location.
Remember peoples financial circumstances differ. A house in a desirable area will always attract a lot of attention. For someone seeking a long term home. A few thousand more is neither here nor there.0 -
Thrugelmir wrote: »Location, location, location.
Remember peoples financial circumstances differ. A house in a desirable area will always attract a lot of attention. For someone seeking a long term home. A few thousand more is neither here nor there.
Not at any price though.
https://amp.theguardian.com/money/2019/jan/21/up-to-25-per-cent-wiped-off-house-prices-some-of-uk-wealthiest-areas-brexit0 -
It's sort of like that when you're within your conservatively set budget. Should we then not consider anything above what looks comfortably affordable, or negotiate? See what I mean?Thrugelmir wrote: »Location, location, location.
Remember peoples financial circumstances differ. A house in a desirable area will always attract a lot of attention. For someone seeking a long term home. A few thousand more is neither here nor there.0 -
£50k offer below asking price £250k = get lost time waster
There's a house around the corner from me just come on at £250k... the previous highest prices for identical houses on that road was around £190k (2 sold in the last 12 months)
Both the other 2 that sold were in better cosmetic condition and had better views than the latest one.
In this instance just who is the deluded, unrealistic, time waster?..
The vendor asking £250k? Or the buyer offering £50k below?0 -
There's a house around the corner from me just come on at £250k... the previous highest prices for identical houses on that road was around £190k (2 sold in the last 12 months)
Both the other 2 that sold were in better cosmetic condition and had better views than the latest one.
In this instance just who is the deluded, unrealistic, time waster?..
The vendor asking £250k? Or the buyer offering £50k below?
In that case, probabiy both parties.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards