How to phase ‘we want money knocked off’ email

Comms69

abanksee said:

ACG said:

Personally, I would hold fire if I were you. 
If you tried to renegotiate with me, I would bang it back on the market. There is no indication houses prices have dropped and reducing your offer based on someones projection is crazy. If you read that house prices were going up by the same amount over the same period would you offer more or be annoyed if the vendor increased the price? 

IF house prices drop, then yes I would say crack on with your reduction email but I can only speak for us and we have already submitted around 70% of what we did last May and we still have 2 weeks to go. The demand is still there. 

Clutched many straws there?

No idea what your posts mean, but it's borderline spamming. 

abanksee

Comms69 said:

abanksee said:

ACG said:

Personally, I would hold fire if I were you. 
If you tried to renegotiate with me, I would bang it back on the market. There is no indication houses prices have dropped and reducing your offer based on someones projection is crazy. If you read that house prices were going up by the same amount over the same period would you offer more or be annoyed if the vendor increased the price? 

IF house prices drop, then yes I would say crack on with your reduction email but I can only speak for us and we have already submitted around 70% of what we did last May and we still have 2 weeks to go. The demand is still there. 

Clutched many straws there?

No idea what your posts mean, but it's borderline spamming. 

How? Because you have a different opinion? 

The other day somebody was telling people to bid over asking straight away on a property that had just been reduced. Why? So I just said that wasnt very good advice. On a money saving website, it was terrible advice. I'm sure you would agree?

I just post about on the threads that interest me.

eidand

abanksee said:

My friend just secured 7% off 

that means nothing without context ...

abanksee

eidand said:

abanksee said:

My friend just secured 7% off 

that means nothing without context ...

Offer accepted mid February. Went back end of last week and agreed 7% less with the seller. First time buyer 

eidand

You're welcome to submit a revised offer, it's a free market after all and you haven't exchanged yet. The seller may agree or meet you somewhere in the middle, or can refuse outright and put the house back on the market.
You can gauge a response based on the market in the area you're in. Did they have other offers before etc? 
If you don't ask you won't get, but it doesn't mean you will get it, either.

Thrugelmir

If you wish to reduce your offer then ring the EA and tell them what it is. Little point in waffling. The vendor isn't going to be interested. 

Comms69

abanksee said:

Comms69 said:

abanksee said:

ACG said:

Personally, I would hold fire if I were you. 
If you tried to renegotiate with me, I would bang it back on the market. There is no indication houses prices have dropped and reducing your offer based on someones projection is crazy. If you read that house prices were going up by the same amount over the same period would you offer more or be annoyed if the vendor increased the price? 

IF house prices drop, then yes I would say crack on with your reduction email but I can only speak for us and we have already submitted around 70% of what we did last May and we still have 2 weeks to go. The demand is still there. 

Clutched many straws there?

No idea what your posts mean, but it's borderline spamming. 

How? Because you have a different opinion? 

The other day somebody was telling people to bid over asking straight away on a property that had just been reduced. Why? So I just said that wasnt very good advice. On a money saving website, it was terrible advice. I'm sure you would agree?

I just post about on the threads that interest me.

But your posts have no context, it's just short statements which help no-one - but obviously feel free to carry on.

numbercruncher8

No need to provide much reasoning, just instruct your solicitors to do it. No doubt they will be fielding similar requests.

You can expect a begging call from the EA after that, either trying to get you to change your mind or up your offer, through a variety of methods. That's their job and part of the process, but if you are susceptible to sob stories I wouldn't take their call - any important communications can go through solicitors as well. If your offer has been 'squeezed' up (nobody forces you to offer), then they may think they have a good chance. More importantly the solicitors work for you, the EA does not.

The risk is that you simply lose the deal; so if the move is of big importance to you then you have to quantify what losing out would mean. Also the seller may not be in that much of a rush or may require an amount of money to move; power generally lies with who needs it least.

If you have observed prices falling in your locality that goes in your favour, if you miss out there are always other plans.
I don't quite get the borrowing bit either. Was the original purchase price all in cash and the £15k extra the borrowing bit? Or is it a mortgage and the £15k another loan? Allied to having a drop in income (temporary or no) over-stretching is a bad idea, IMO.

Beck1987

I secured 5% reduction.
First time buyer. Offer accepted End January, wanted to move before beginning of lock-down , the sellers stalled, as they we're looking to buy another house, while telling us they will rent so that we can move straight in.
They found a house around 20th of March, and they were pushing for the sale. Because of moving restrictions, we stayed put, and did not move. 
In the meantime I've been furloughed and with a high possibility of loosing my job, working from home at the moment.
We wanted to continue with the sale at the original price, but due to change in my circumstances we offered to drop out, as we did not want to stay in the way of another buyer, and the sellers are really nice people.
The EA called back after awhile and said are you sure you don't want to continue, as there is no point putting the house on the market at the moment. We told him we can't continue paying the same price as pre-covid. He came back with 2% (around 10k) we said no; we want 25k off (5%) and they accepted
Being that:
1. we did not want to loose the house, 2. we did not want to go through the whole process all over again,
3. the monthly mortgage is about 50% of my wife's salary
We accepted and we are due to complete end of May.

The economy is looking bad, and anyone saying otherwise are living in a bubble

Brock_and_Roll

I think this thread has over complicated itself!
"Sorry, but in light of the current circumstances our offer is reduced to £xxxx"