How to phase ‘we want money knocked off’ email

kev_pecker

graphs said:

eidand said:

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.

Thanks for saying precisely nothing at all. 🙄

Hypocrite warning!

Bibbitybobbitybop

Before lock down we had an offer of £35k under asking accepted. They then agreed to drop by a further £10k after our buyer had to reduce our agreed price. It helped that EAs knew each other and helped spread the hit across the chain (actually we came out the least hit).

Thrugelmir

blue_max_3 said:

Nobody asks for advise to offer more, so this is the hottest topic these days. That suggests there is downward pressure on prices. It just needs a national newspaper to headline prices dropping to complete the circle.
You just have to read that this is being called the 'recession to end all recessions' to know it's going to be tough.

Not going to sink in until the harsh reality strikes. 

blue_max_3

Thrugelmir said:

Not going to sink in until the harsh reality strikes. 

Wouldn't bet against it, given what we know at this time.

snollygoster7

I agree with many, keep it simple. You could always telephone the offer.

I got a 10% reduction (30k) back in February had been on market since August and a little old lady wanting to move nearer her family. I haven't got the heart to go back now with an even lower offer even though she probably just wants to get it done rather than worry about the odd few grand (and her son is also dealing with the £££s)

moneysavinghero

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. 

Saying you have submitted similar volumes of mortgage applications to last year means nothing. What % are actually getting approved would be more helpful. And it tells you nothing of whether those mortgages were for the full asking price or not.

Halifax price index, Rightmove price index and Land registry price indexes have all shown falls. So not sure how a professional can say there is no indication house prices have dropped

Asking someone to wait to see if house prices drop before dropping their offer is a bit ridiculous. The only way prices will drop is if people drop their offers. It may not be accepted, but if people keep offering the asking prices then they will get their hand bitten off and asking prices will stay the same.

Getting_greyer

The only way prices will drop is if people drop their offers. It may not be accepted, but if people keep offering the asking prices then they will get their hand bitten off and asking prices will stay the same.

So the price wouldn't drop then?

soupy600

I've been keeping an eye on this subject to but how donyou know the house prices are going to drop when nothing is moving at the minute. I'm also scared to make a revised offer and go back to the morgate company to get a worse deal.

Thrugelmir

soupy600 said:

I've been keeping an eye on this subject to but how donyou know the house prices are going to drop when nothing is moving at the minute. I'm also scared to make a revised offer and go back to the morgate company to get a worse deal.

Why pay more than you need to? 

eidand

Thrugelmir said:

soupy600 said:

I've been keeping an eye on this subject to but how donyou know the house prices are going to drop when nothing is moving at the minute. I'm also scared to make a revised offer and go back to the morgate company to get a worse deal.

Why pay more than you need to? 

how does he know what he needs to pay?