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

abanksee

blue_max_3 said:

abanksee said:

Its a tough one, I think if you're wanting 2% like others on here then I genuinely wouldnt even bother asking.

My friend pushed for 7% and got it, it was worth doing and he was willing to walk away as you're talking around 25k saved!

I'm a seller, not a buyer. There are no negotiations happening.

I know, I was talking generally about the thread title after reading your POV as the seller.

blue_max_3

OK, sounded like you misunderstood as you quoted me. In my case, the buyer will have lost their legal costs and the costs of their buyer if they try to negotiate again. But the place is empty and we are not desperate for the cash. Everyone's situation is different.
In my view, if someone offers less than originally agreed, they can't complain if the seller then accepts a higher offer. 

vitaweat

dani17 said:

vitaweat said:

abanksee said:

vitaweat said:

abanksee said:

House prices are not going up anytime soon

How do you know?  If you know what future asset prices are, why are you posting on here?

It's simple economics though. Less jobs, less money = lower house prices.

It wont last for years but there is going to be downward pressure. Absolutely mental to suggest they'll stay the same or rise as the odd person on here thinks.

But there's more money not less.  And fewer goods to boot.

More money + fewer goods = higher prices.

I agree that house prices adjusted for inflation might well fall but in cash money terms I strongly suspect they will rise and fast.

If you meant the furlough scheme , it will unlikely create inflation IMO. it will just increase the debt of the gov ( almost fake ) . it is a new version of quantitative easing done since 2008 crisis and never created any inflation. neither in 

Not just the furlough scheme but also the fact that supply chains have been cut, the effects of which will start to become apparent quite soon.

If you're going to want a new mobile phone in the next few months for example I'd get in sooner rather than later.

vitaweat

blue_max_3 said:

OK, sounded like you misunderstood as you quoted me. In my case, the buyer will have lost their legal costs and the costs of their buyer if they try to negotiate again. But the place is empty and we are not desperate for the cash. Everyone's situation is different.
In my view, if someone offers less than originally agreed, they can't complain if the seller then accepts a higher offer. 

In any market we buy and sell under the rules.  Your buyer is perfectly entitled to offer less and you are similarly entitled to accept a higher offer prior to exchange of contracts.

blue_max_3

vitaweat said:

blue_max_3 said:

In my view, if someone offers less than originally agreed, they can't complain if the seller then accepts a higher offer. 

In any market we buy and sell under the rules.  Your buyer is perfectly entitled to offer less and you are similarly entitled to accept a higher offer prior to exchange of contracts.

I am fully aware you are entitled to do it. I was referring to the morality of it. We'd all like to think that after an agreement is reached, it is honoured.

AK1212

In all honesty there is a way this can be done where everyone is a winner apart from the last person in the chain (you will probably feel less bad if that person was a large corporation in the way of a new build). 

If 3 party chain then just ask everyone along the chain to reduce the price and that way you save money on:
- purchase price
- solicitor fees
- stamp duty
- mortgage payments/interest

only hard conversation is the one at the end of the chain.

I do re-iterate only worth doing on a moral basis if last down the chain is a big boy player. I would hate if someone tried to play the game and tried to haggle prices to the house they are purchasing but wouldn’t do the same to the people buying their home and as such pocketing the difference. It’s just does not sit right with me. 

Crashy_Time

Splatfoot said:

markin said:

Buyers are demanding huge discounts up to 20% as housing market bursts back into life following coronavirus lockdown

People that read it will be more brave on asking for discounts, So it becomes true.

Yep, and that's the problem with people reading the Mail. I don't want to sell my house to a Mail reader so I should be fine, 😁

Was it the Mail, or the Express that always used to have the "House Prices To Soar" headlines? Works both ways I suppose, scary how easily manipulated the public can be though.....

blue_max_3

AK1212 said:

In all honesty there is a way this can be done where everyone is a winner apart from the last person in the chain (you will probably feel less bad if that person was a large corporation in the way of a new build). 

If 3 party chain then just ask everyone along the chain to reduce the price and that way you save money on:
- purchase price
- solicitor fees
- stamp duty
- mortgage payments/interest

only hard conversation is the one at the end of the chain.

I do re-iterate only worth doing on a moral basis if last down the chain is a big boy player. I would hate if someone tried to play the game and tried to haggle prices to the house they are purchasing but wouldn’t do the same to the people buying their home and as such pocketing the difference. It’s just does not sit right with me. 

I'm the last in the chain of three. I'd tell them to get on with their negotiations between themselves and my price is fixed. Not sure a big boy player would think any different to be honest.

Crashy_Time

AK1212 said:

In all honesty there is a way this can be done where everyone is a winner apart from the last person in the chain (you will probably feel less bad if that person was a large corporation in the way of a new build). 

If 3 party chain then just ask everyone along the chain to reduce the price and that way you save money on:
- purchase price
- solicitor fees
- stamp duty
- mortgage payments/interest

only hard conversation is the one at the end of the chain.

I do re-iterate only worth doing on a moral basis if last down the chain is a big boy player. I would hate if someone tried to play the game and tried to haggle prices to the house they are purchasing but wouldn’t do the same to the people buying their home and as such pocketing the difference. It’s just does not sit right with me. 

Everyone can`t be a winner in a debt based pyramid, not sure how anyone in the chain can expect bumper prices in a global economic meltdown? Everyone will be taking some kind of hit now, those that bought many years ago will be best placed to suck up the price reductions.

societys_child

Crashy, do you ever see a time when renting will be cheaper than buying?

Not forgetting you get nothing back if you leave your rented accommodation, owning is different . .