How to phase ‘we want money knocked off’ email

Crashy_Time

numbercruncher8 said:

Just seems quite silly that people are using their own experience to try and pre-judge things. I've said that before and it still rumbles on. Your own anecdotal advice is of no use to the OP unless you live in a similar location and buying a similar property.

It also amazes me that most have simply ignored the little tit-bits of side information they did provide: at the projected price they are taking out borrowings as well as a mortgage, and that they have observed prices falling.

Let us also say that while they feel they were also squeezed up in the bidding there is no real context on where this price may sit in the current market.

For example, I give you this: (check previous offered prices)
https://www.rightmove.co.uk/property-for-sale/property-64570911.html

The mentality here from some is that cheeky bids are frowned upon, but nobody says anything about cheeky starting prices? £500k in that case was absurd.... even offering 25% off to start would have been reasonable, IMO. Yet here we are with people deriding 10% off blind, often using the old 'if I were you, I'd tell you to f--- off', or in the case of a drop 'if I did that, I wouldn't be able to live with myself'. Without context, how would you ever know?

Sometimes I wonder if people genuinely want OPs to get the best deal they can, or simply to push their own agenda. In the vast majority of cases not enough information is ever given out by them to really say for definite either way. I guess that most of you know this, but put out your opinion anyway. That goes for both bears and bulls. Morally bankrupt, in my view.

The starting price was totally absurd, and so is the reduced price! Must be a mistake in the listing?

leftism

Update: I’ve put in a lower offer. Not one that would be deemed taking the mick- less than 5% lower, but that price would mean we don’t have to borrow any money to find the purchase. If there’s a bigger dip in the market, that’s fine. We’re going to be in the house for a long time. 

The estate agent didn’t seem surprised at all. I got the impression hey are getting this a lot at the moment. No reply yet though. 

Also, worth mentioning my mortgage advisor (whose interest it’s in for this to carry on as arranged) told me he thinks anyone would be mad  to pay the same price they’d agreed before covid. 

abanksee

leftism said:

Update: I’ve put in a lower offer. Not one that would be deemed taking the mick- less than 5% lower, but that price would mean we don’t have to borrow any money to find the purchase. If there’s a bigger dip in the market, that’s fine. We’re going to be in the house for a long time. 

The estate agent didn’t seem surprised at all. I got the impression hey are getting this a lot at the moment. No reply yet though. 

Also, worth mentioning my mortgage advisor (whose interest it’s in for this to carry on as arranged) told me he thinks anyone would be mad  to pay the same price they’d agreed before covid. 

I don't believe anything between 5-10% is taking the mick personally. Very risky time for us as buyers.

Competsoph

leftism said:

Update: I’ve put in a lower offer. Not one that would be deemed taking the mick- less than 5% lower, but that price would mean we don’t have to borrow any money to find the purchase. If there’s a bigger dip in the market, that’s fine. We’re going to be in the house for a long time. 

The estate agent didn’t seem surprised at all. I got the impression hey are getting this a lot at the moment. No reply yet though. 

Also, worth mentioning my mortgage advisor (whose interest it’s in for this to carry on as arranged) told me he thinks anyone would be mad  to pay the same price they’d agreed before covid. 

Please do keep us updated!

jimbog

leftism said:

Update: I’ve put in a lower offer. Not one that would be deemed taking the mick- less than 5% lower, but that price would mean we don’t have to borrow any money to find the purchase. If there’s a bigger dip in the market, that’s fine. We’re going to be in the house for a long time. 

Good luck. I think that was very fair. Keep us updated

Crashy_Time

leftism said:

Update: I’ve put in a lower offer. Not one that would be deemed taking the mick- less than 5% lower, but that price would mean we don’t have to borrow any money to find the purchase. If there’s a bigger dip in the market, that’s fine. We’re going to be in the house for a long time. 

The estate agent didn’t seem surprised at all. I got the impression hey are getting this a lot at the moment. No reply yet though. 

Also, worth mentioning my mortgage advisor (whose interest it’s in for this to carry on as arranged) told me he thinks anyone would be mad  to pay the same price they’d agreed before covid. 

EA will just be relieved you didn`t add a 1 to the price drop.

Bibbitybobbitybop

The house we are buying was on for £500k. We offered £465k. They accepted. Ball rolling etc. Then Covid. We reduced to £450k. They accepted. 

leftism

Crashy_Time said:

leftism said:

Update: I’ve put in a lower offer. Not one that would be deemed taking the mick- less than 5% lower, but that price would mean we don’t have to borrow any money to find the purchase. If there’s a bigger dip in the market, that’s fine. We’re going to be in the house for a long time. 

The estate agent didn’t seem surprised at all. I got the impression hey are getting this a lot at the moment. No reply yet though. 

Also, worth mentioning my mortgage advisor (whose interest it’s in for this to carry on as arranged) told me he thinks anyone would be mad  to pay the same price they’d agreed before covid. 

EA will just be relieved you didn`t add a 1 to the price drop.

Haha I hope so! From he way to theyve acted so far, I think our vendors might refuse what we’ve offered. But, even though we reeeeeeeeeeally want this house, I was feeling a so much anxiety before all this that the housing market would run away from us off we didn’t buy quick... no worries that’s all gone. I feel the opposite!

blue_max_3

Bibbitybobbitybop said:

The house we are buying was on for £500k. We offered £465k. They accepted. Ball rolling etc. Then Covid. We reduced to £450k. They accepted. 

There's a million personal circumstances to why that was the case. Glad it was good for you, but this can't be universal.

Bibbitybobbitybop

blue_max_3 said:

Bibbitybobbitybop said:

The house we are buying was on for £500k. We offered £465k. They accepted. Ball rolling etc. Then Covid. We reduced to £450k. They accepted. 

There's a million personal circumstances to why that was the case. Glad it was good for you, but this can't be universal.

It wasn't that great, we had £18k knocked off our agreed price! (Reduced to £13k by negotiation)