Buyer trying to gazunder! Help!

RelievedSheff

Crashy_Time wrote: »

The info is the same though, wherever you source it from, pretty undeniable that the property party is well and truly over?

https://www.homesandproperty.co.uk/property-news/flipping-property-drastic-fall-in-number-of-londoners-buying-and-selling-on-homes-for-a-quick-profit-a132496.html

For the vast majority of people who view their house as a home not a money making machine that is hardly a problem.

Arthritic_Toe

Crashy_Time wrote: »

Slightly OTT IMO, the guy just saw a deteriorating outlook for UK property and acted accordingly.

Rubbish! Conditions were the same as when he offered, more or less. Its not about market conditions at all. He employs the fairly common, but morally corrupt technique of making a deal, then reducing the offer at the last minute when he thinks the seller is committed. This technique is fine if you have no scruples and you are a complete bast***, and in this case he's saved 15 grand or whatever. Well done him.

Crashy_Time

Arthritic_Toe wrote: »

Rubbish! Conditions were the same as when he offered, more or less. Its not about market conditions at all. He employs the fairly common, but morally corrupt technique of making a deal, then reducing the offer at the last minute when he thinks the seller is committed. This technique is fine if you have no scruples and you are a complete bast***, and in this case he's saved 15 grand or whatever. Well done him.

Stock market/credit market conditions are deteriorating by the minute, the guy was obviously just a bit more aware than the average seller/buyer IMO.

jimbog

Crashy_Time wrote: »

Stock market/credit market conditions are deteriorating by the minute, the guy was obviously just a bit more aware than the average seller/buyer IMO.

To be fair, whereas we are in uncertain times, to feel that people only gazunder because of the stock market's performance is a tad naive

Slinky

Crashy_Time wrote: »

The info is the same though, wherever you source it from, pretty undeniable that the property party is well and truly over?

You've been a member here for 5 years and apparently the property crash has been just around the corner for all of them and more according to you. That's a heck of a corner.

Crashy_Time

jimbog wrote: »

To be fair, whereas we are in uncertain times, to feel that people only gazunder because of the stock market's performance is a tad naive

You can`t really gazunder if sentiment is strong and the seller has other buyers lined up to pay their price though can you?

jimbog

Crashy_Time wrote: »

You can`t really gazunder if sentiment is strong and the seller has other buyers lined up to pay their price though can you?

I can understand why you might ask that question. You see if the buying process is close to exchange and the vendor is committed to an onward purchase - the buyer is using this as leverage knowing that it would take time even if there was another buyer waiting in the wings.

Crashy_Time

jimbog wrote: »

I can understand why you might ask that question. You see if the buying process is close to exchange and the vendor is committed to an onward purchase - the buyer is using this as leverage knowing that it would take time even if there was another buyer waiting in the wings.

Maybe, but it`s more likely IMO that the reality of Brexit is showing up overpriced houses for what they really are, basic shelter pumped up in price by bankers for bankers.