Is it reasonable for us to drop our asking price given current climate?

Crashy_Time

csgohan4 said:

If you are not affected financially, on what basis would you demand a reduction? It's like the people on here last year suggesting reducing offers due to Brexit

If one demands due to the economy which doesn't affect them directly, it would be poor form to do so, however you don't ask you don't get, but be prepared to walk away if they say no and ask you to foxtrot oscar. 

I don't ask/get  reductions in my petrol because oil prices have reduced as an example. 

A quick top up at the local filling station is unlikely to have financial repercussions that could affect you for years though is it?

FrugalCat

csgohan4 said:

I don't ask/get  reductions in my petrol because oil prices have reduced as an example. 

You do, actually. Granted, crude oil prices are a fraction of what you're paying for in petrol (a lot like grape in wine), but petrol is noticeably cheaper at the moment, because crude oil is cheap. 

As for the rest: "Pay more because you can afford it" is bad financial advice.

csgohan4

abanksee said:

csgohan4 said:

If you are not affected financially, on what basis would you demand a reduction? It's like the people on here last year suggesting reducing offers due to Brexit

If one demands due to the economy which doesn't affect them directly, it would be poor form to do so, however you don't ask you don't get, but be prepared to walk away if they say no and ask you to foxtrot oscar. 

I don't ask/get  reductions in my petrol because oil prices have reduced as an example. 

Petrol prices have dropped to a 4 year low... so you kind of do.

Not to the level I was expecting. still above 1 pound,

the point is, If it's not affecting your own financial generation, would you expect a discount being in the seller's shoes? Why should they take a hit? In fact they may not care about your situation, from a business point of view why should they reduce because you want to play the economy card?

As above you can ask, but are you prepared to walk away from the sale either by force or indeed the the vendor may add more money on the price for your trouble

csgohan4

Crashy_Time said:

csgohan4 said:

If you are not affected financially, on what basis would you demand a reduction? It's like the people on here last year suggesting reducing offers due to Brexit

If one demands due to the economy which doesn't affect them directly, it would be poor form to do so, however you don't ask you don't get, but be prepared to walk away if they say no and ask you to foxtrot oscar. 

I don't ask/get  reductions in my petrol because oil prices have reduced as an example. 

Brexit has barely started though, and is on pause at the moment, how could you gauge what will happen with Brexit yet? The financial effect for the OP here is if they end up in NE because the wider economy has hit serious trouble as other people lose their jobs.A seller who was previously "faffing about" for months now pushing to complete in 2 weeks should be a large red flag IMO.

Still doesn't stop people from asking for a brexit discount on here, plenty of threads about this last year, people asking about discounts and if they should or not. Point is people will find an excuse to get a discount. Houses will need to be bought recession or not, not saying prices won't reduce, but it really is crystal ball time

Crashy_Time

csgohan4 said:

abanksee said:

csgohan4 said:

If you are not affected financially, on what basis would you demand a reduction? It's like the people on here last year suggesting reducing offers due to Brexit

If one demands due to the economy which doesn't affect them directly, it would be poor form to do so, however you don't ask you don't get, but be prepared to walk away if they say no and ask you to foxtrot oscar. 

I don't ask/get  reductions in my petrol because oil prices have reduced as an example. 

Petrol prices have dropped to a 4 year low... so you kind of do.

Not to the level I was expecting. still above 1 pound,

the point is, If it's not affecting your own financial generation, would you expect a discount being in the seller's shoes? Why should they take a hit? In fact they may not care about your situation, from a business point of view why should they reduce because you want to play the economy card?

As above you can ask, but are you prepared to walk away from the sale either by force or indeed the the vendor may add more money on the price for your trouble

I doubt that boogeyman scares any potential buyers now, they would probably just classify the seller as a time waster and walk away.

csgohan4

Crashy_Time said:

csgohan4 said:

abanksee said:

csgohan4 said:

If you are not affected financially, on what basis would you demand a reduction? It's like the people on here last year suggesting reducing offers due to Brexit

If one demands due to the economy which doesn't affect them directly, it would be poor form to do so, however you don't ask you don't get, but be prepared to walk away if they say no and ask you to foxtrot oscar. 

I don't ask/get  reductions in my petrol because oil prices have reduced as an example. 

Petrol prices have dropped to a 4 year low... so you kind of do.

Not to the level I was expecting. still above 1 pound,

the point is, If it's not affecting your own financial generation, would you expect a discount being in the seller's shoes? Why should they take a hit? In fact they may not care about your situation, from a business point of view why should they reduce because you want to play the economy card?

As above you can ask, but are you prepared to walk away from the sale either by force or indeed the the vendor may add more money on the price for your trouble

I doubt that boogeyman scares any potential buyers now, they would probably just classify the seller as a time waster and walk away.

Then as I said, is the buyer willing to risk their house ? Only they can answer that question, what are they going to do  if the vendor says no? Vendor may pull the plug as it is bad form anyways to gazunder before exchange.

 You might say that who else are they going to sell their house, well anyone but them. you are defined by ones actions and if you chose to go against a offer you made, then you only have yourself to blame if it goes pear shaped.

What else are the buyers going to do while waiting for their new mortgage offer? They may be deemed unreliable and untrustworthy understandably

If you agreed a price to sell your car to and then they turned round to want 10% discount on collection day, with no change in the car itself, most people wouldn't be happy. 

jbsn

Thanks all!

tatartan

This is your hard earned cash we are talking about and they have caused you unnecessary worry for months now due to THEIR actions.  I don’t buy the stay loyal, true to your word response to this. If the housing market was the other way round these sellers wouldn’t think twice about squeezing you for all the could. +1 for reducing your offer anywhere between 5-10% 

Edit: have to laugh at some of the attempts to put it into perspective, you ain’t buying petrol...or a car. None of which would have a potential impact on you as much as your next house move does! 

Crashy_Time

csgohan4 said:

Crashy_Time said:

csgohan4 said:

abanksee said:

csgohan4 said:

If you are not affected financially, on what basis would you demand a reduction? It's like the people on here last year suggesting reducing offers due to Brexit

If one demands due to the economy which doesn't affect them directly, it would be poor form to do so, however you don't ask you don't get, but be prepared to walk away if they say no and ask you to foxtrot oscar. 

I don't ask/get  reductions in my petrol because oil prices have reduced as an example. 

Petrol prices have dropped to a 4 year low... so you kind of do.

Not to the level I was expecting. still above 1 pound,

the point is, If it's not affecting your own financial generation, would you expect a discount being in the seller's shoes? Why should they take a hit? In fact they may not care about your situation, from a business point of view why should they reduce because you want to play the economy card?

As above you can ask, but are you prepared to walk away from the sale either by force or indeed the the vendor may add more money on the price for your trouble

I doubt that boogeyman scares any potential buyers now, they would probably just classify the seller as a time waster and walk away.

Then as I said, is the buyer willing to risk their house ? Only they can answer that question, what are they going to do  if the vendor says no? Vendor may pull the plug as it is bad form anyways to gazunder before exchange.

 You might say that who else are they going to sell their house, well anyone but them. you are defined by ones actions and if you chose to go against a offer you made, then you only have yourself to blame if it goes pear shaped.

What else are the buyers going to do while waiting for their new mortgage offer? They may be deemed unreliable and untrustworthy understandably

If you agreed a price to sell your car to and then they turned round to want 10% discount on collection day, with no change in the car itself, most people wouldn't be happy. 

If most people thought like that no one would market their house for more than they paid for it, the odd little change to a garden or added conservatory doesn`t account for the profit many people expect to make on a house? Sellers don`t get to change the rules just because the bad times suddenly popped up.

Vestraun

If you really like the house I would offer what I think is a fair price in today’s market, which in my opinion is lower that what it would have been at the beginning of the year. However, if I didn’t really love it, I would just pull out to avoid the headache.