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

Crashy_Time

jimbog said:

If you end up losing the house because they wouldn't accept your new offer please do come back and tell us as most who had this happen to them seem reluctant to do so

How did you know it happened to them, were you in contact by PM?

Crashy_Time

jbsn said:

Unicorn_cottage said:

How much have you spent so far getting to this point? If the vendor was messing you about a while back you should of been asking questions then. If you have another viewing I would speak to the vendor to gauge what has been going on over the previous months.

Yes of course, we have been. There have been various reasons and other variables which is why we’ve stuck it out this far. Have just tried to keep it nutshell(ish)

How do you read their sudden hurry to get it all done and dusted in two weeks? 

Aberdeenangarse

Bossypants said:

tatartan said:

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Don’t forget the 5% house price drop now predicted by the industry and the bank of England’s ‘worst downturn since 1706’ predictions.  

Just going to leave this here in case people would like to read the rest of what the BoE had to say. Context is everything, after all! https://www.bbc.co.uk/news/business-52566030

Bank of England also predicted a 16% drop in house prices in today’s announcement.

bearshare

From the other side, we completed on a house sale today (offer accepted September 2019). 
We were ready to exchange, but then accepted a £5k reduction because of virus, but did not realise buyer would have to get loan re-submitted, and this added 3 weeks  to the process. The offer, we then found, was due to expire on Sunday, so we only JUST managed to get it done before the whole process of buyer getting a mortgage loan would hàve to have started again. As valuations are impossible atm, this may have been difficult. 
A quick purchase may be better than try to get a few £ knocked off.

Bossypants

Aberdeenangarse said:

Bossypants said:

tatartan said:

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Don’t forget the 5% house price drop now predicted by the industry and the bank of England’s ‘worst downturn since 1706’ predictions.  

Just going to leave this here in case people would like to read the rest of what the BoE had to say. Context is everything, after all! https://www.bbc.co.uk/news/business-52566030

Bank of England also predicted a 16% drop in house prices in today’s announcement.

Indeed it did, and also that they would recover along with the wider economy by summer 2021.

Bibbitybobbitybop

We moved the drop in price on our agreed sale up the chain and rescued it.

tatartan

Bossypants said:

Aberdeenangarse said:

Bossypants said:

tatartan said:

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Don’t forget the 5% house price drop now predicted by the industry and the bank of England’s ‘worst downturn since 1706’ predictions.  

Just going to leave this here in case people would like to read the rest of what the BoE had to say. Context is everything, after all! https://www.bbc.co.uk/news/business-52566030

Bank of England also predicted a 16% drop in house prices in today’s announcement.

Indeed it did, and also that they would recover along with the wider economy by summer 2021.

See now we have moved away from “there won’t be a drop” to “we will have a drop of 16% but it will recover after a full year”. Tune in next week where the nae sayers say “only a 25% drop and recovery by 2022”.

i think this alone would prove that Crashy and his mate graphy may be on to something here? 

blue_max_3

tatartan said:

See now we have moved away from “there won’t be a drop” to “we will have a drop of 16% but it will recover after a full year”. Tune in next week where the nae sayers say “only a 25% drop and recovery by 2022”.

i think this alone would prove that Crashy and his mate graphy may be on to something here? 

It never applies across the board though. A nice house in a desirable area is going to be less effected by this. There is always demand for those sorts of properties. Most of us would probably not be interested in houses that dropped 16% immediately. 

Bossypants

tatartan said:

Bossypants said:

Aberdeenangarse said:

Bossypants said:

tatartan said:

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Crashy_Time said:

Semple said:

jbsn said:

given prices are going to plummet...

Can i borrow your crystal ball, seeing as you clearly know what's going to happen before numerous economic experts.

"Expert" (banker) view on Bloomberg just now is that most "economic experts" are predicting "extremely high" unemployment, maybe the OP should just step back for a while?

Don’t forget the 5% house price drop now predicted by the industry and the bank of England’s ‘worst downturn since 1706’ predictions.  

Just going to leave this here in case people would like to read the rest of what the BoE had to say. Context is everything, after all! https://www.bbc.co.uk/news/business-52566030

Bank of England also predicted a 16% drop in house prices in today’s announcement.

Indeed it did, and also that they would recover along with the wider economy by summer 2021.

See now we have moved away from “there won’t be a drop” to “we will have a drop of 16% but it will recover after a full year”. Tune in next week where the nae sayers say “only a 25% drop and recovery by 2022”.

i think this alone would prove that Crashy and his mate graphy may be on to something here? 

I haven't seen BoE claiming there won't be a drop, must have missed that one. I'm just posting because it's frustrating to see people only post half a prediction.

blue_max_3

The only drop that matters, is the one you are hoping to buy! Most homes will not be sold at all.