Cash Buyer - how much lower to offer?

Crashy_Time

calligraphysenior said:

JJR45 said:

Market is still to hot to get any meaningful discounts IMHO.
The people who overprice the asking price are usually the ones unwilling to negotiate. 

Ain't this the truth! Is it best to wait until after the stamp duty holiday?

Yes, and wait to see where the new Covid surges take us as well IMO.

JJR45

calligraphysenior said:

JJR45 said:

Market is still to hot to get any meaningful discounts IMHO.
The people who overprice the asking price are usually the ones unwilling to negotiate. 

Ain't this the truth! Is it best to wait until after the stamp duty holiday?

Difficult to say, but that and furlough ending is bound to slow things down.
It has been in anti-gravity mode for nearly 12 months now.

Crashy_Time

I think there is more chance of more lockdown than furlough ending or stamp duty being brought back, they will reduce furlough maybe but I think they will go as far as they can to prevent a full scale melt down in the property market. Not sure they can do it if Covid isn`t conquered soon though, isn`t it crazy the way debt is being pushed on to future generations just so the present one can have unaffordable basic shelter?

peterhjohnson

calligraphysenior said:

 The market is fast moving but the price is well above the zoopla estimate. (60k higher to be precise)

I wouldn't rely on the  Zoopla estimate at the best of times. With the current buying frenzy in many areas getting pricing right is particularly hard. Find out exactly how long it's been on the market. If it's over a week or two then it may well be overpriced.  Otherwise it will be gone by lunchtime.

Crashy_Time

calligraphysenior said:

Crashy_Time said:

How long has it been for sale, how many offers have they had?

Less than a month. I don't think they've had any offers yet. But I imagine they will as it would be a nice family home. I'm hoping being cash will help...

Depends, when are you getting a valuation done?

calligraphysenior

Crashy_Time said:

calligraphysenior said:

Crashy_Time said:

How long has it been for sale, how many offers have they had?

Less than a month. I don't think they've had any offers yet. But I imagine they will as it would be a nice family home. I'm hoping being cash will help...

Depends, when are you getting a valuation done?

will only do this if I feel I can beat them down on price, and given this thread I'm not sure I can.

Sunsaru

calligraphysenior said:

Crashy_Time said:

calligraphysenior said:

Crashy_Time said:

How long has it been for sale, how many offers have they had?

Less than a month. I don't think they've had any offers yet. But I imagine they will as it would be a nice family home. I'm hoping being cash will help...

Depends, when are you getting a valuation done?

will only do this if I feel I can beat them down on price, and given this thread I'm not sure I can.

You don't get if you don't ask...

IamWood

Buying houses is like buying stocks, valued by the future value or living standard there. I have gone through this process a few times (some with cash). I would simply offer the asking price if the property is too good to lose. Don't think I have made big mistakes so far.

Crashy_Time

IamWood said:

Buying houses is like buying stocks, valued by the future value or living standard there. I have gone through this process a few times (some with cash). I would simply offer the asking price if the property is too good to lose. Don't think I have made big mistakes so far.

Except that stocks are very liquid investments and houses are not, and the average person probably does very little analysis of a house`s future value beyond what they think the monthly payment will be and that "houses always go up".

Markneath

I’ve always found zoopla estimates to be rubbish myself!