Buyers want to reduce price of house - house valuation gone up.

jonnydeppiwish!

Okey00001 said:

Thrugelmir said:

Would position would you be in if your potential purchasers walked away? 

Good question!  I would put it up at the market value price which is higher than the sold price or leave it as it is. The house  is a bargain price as it is.

Surely if it was a bargain, someone would have offered more?
Hold tight and stay at the agreed price. If they don’t like it, they can walk.

lookstraightahead

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

Okey00001

plumberpaig said:

You'll know if they are totally serious about buying the house. If house prices have increased then they'll know that as well. You could also threaten to remarket it at a higher price. You could go through the agent and do this. Around my area prices have shot up, a lot since 12 months ago. Why has it taken so long to go through?

 pandemic lockdown and winter months - not good timing - but things are beginning to roll!

Okey00001

lookstraightahead said:

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

along with pandemic lockdown, winter months , useless estate agent! I changed the estate agent - and things began to roll in a positive direction.

lookstraightahead

Okey00001 said:

lookstraightahead said:

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

along with pandemic lockdown, winter months , useless estate agent! I changed the estate agent - and things began to roll in a positive direction.

So do you have an onwards purchase?

Thats taken ages, we moved during lockdown and it took 3 months (although short chain and top of chain happy to move into rented. 

newsgroupmonkey_

lookstraightahead said:

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

You sound so like crashy.
This is not at all what is happening with the market. In the South of the country, there is a mad lack of stock. I’m looking over a vast area and selling in a completely different one.

Neither have regular 3 bed semis and people are being offered 10%+ over the asking.

It’s spring. There should be loads of houses coming onto the market, but there aren’t. New builds can’t keep up.
Round the corner from me, there are 8 new builds that have come up. 350 people went to see them and they’ve had over 50 offers so far (small developer, so is letting them find their own price)

Selling houses at and above market value is easy as pie. Finding somewhere else to buy is much more challenging.

lookstraightahead

newsgroupmonkey_ said:

lookstraightahead said:

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

You sound so like crashy.
This is not at all what is happening with the market. In the South of the country, there is a mad lack of stock. I’m looking over a vast area and selling in a completely different one.

Neither have regular 3 bed semis and people are being offered 10%+ over the asking.

It’s spring. There should be loads of houses coming onto the market, but there aren’t. New builds can’t keep up.
Round the corner from me, there are 8 new builds that have come up. 350 people went to see them and they’ve had over 50 offers so far (small developer, so is letting them find their own price)

Selling houses at and above market value is easy as pie. Finding somewhere else to buy is much more challenging.

My opinions are based on my life experiences of buying at the wrong times in life and getting my fingers burned. We all do that ; we all want to justify why we're right. I own (again) now and have very little mortgage. I've also been a landlord and a tenant. I do not think buying makes you better off in all circumstances, and I don't think property ownership is the be all and end all. I've been through a lot (as have many) and house ownership is somewhere round the bottom of my list of priorities. I'm just lucky that now I don't need to pay either rent or mortgage (well not much anyway). House ownership made me, personally, worse off. By tens of thousands of pounds (if not more) because of my life circumstances. Stick a curve ball into the list of reasons to buy and it can bite you on the proverbial.

Lots of vendors think selling equates to a money tree, lots of buyers think it's necessary to pay over market value, or to take a risk that the banks won't, because there's a 'desperation' about buying. It makes me feel uncomfortable as there will be a tipping point.

TonyTeacake

Okey00001 said:

lookstraightahead said:

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

along with pandemic lockdown, winter months , useless estate agent! I changed the estate agent - and things began to roll in a positive direction.

But I think we're on the cusp of house prices stabilising.

Totally agree that we might be seeing house prices stabilise or being reduced although this maybe subject to certain areas for the moment. You say your house has gone up in price in recent months? So let's say you don't accept the sellers new offer will you remarket with the possibility to be in the same position again further down the road if a new seller wants to renegotiate after a survey would you argue the fact if house prices have gone up again in the last few months.

I would be watching the market very carefully as a buyer at the moment.

This is a key point has I have mentioned to a lot of people in other forums they are a lot of uncertainties in the world at the moment and I know some people don't like to hear this but has this year goes on many people will be hit hard with rampant inflation and higher interest rates. There will less demand for property purchases and prices will start to fall, it won't happen overnight but is coming and the possibility of a bad recession will cause this biggest bubble in housing history to crash really hard.

GDB2222

lookstraightahead said:

Okey00001 said:

lookstraightahead said:

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

along with pandemic lockdown, winter months , useless estate agent! I changed the estate agent - and things began to roll in a positive direction.

So do you have an onwards purchase?

Thats taken ages, we moved during lockdown and it took 3 months (although short chain and top of chain happy to move into rented. 

That’s the crucial question that the op has not answered. If he/she has somewhere lined up, he needs a  sale in order to move on. His sellers won’t hang around for ever. 

On the other hand, if he doesn’t have a purchase lined up, what on earth is he doing selling his house in a rising market? He should take the opportunity to pull out of the sale.

nicknameless

TonyTeacake said:

Okey00001 said:

lookstraightahead said:

I would be watching the market very carefully as a buyer at the moment. It doesn't excuse their behaviour and personally I would not negotiate at this stage, but I think we're on the cusp of house prices stabilising. 

Why had it taken so long in the first place? Who had kept whom waiting?

along with pandemic lockdown, winter months , useless estate agent! I changed the estate agent - and things began to roll in a positive direction.

But I think we're on the cusp of house prices stabilising.

Totally agree that we might be seeing house prices stabilise or being reduced although this maybe subject to certain areas for the moment. You say your house has gone up in price in recent months? So let's say you don't accept the sellers new offer will you remarket with the possibility to be in the same position again further down the road if a new seller wants to renegotiate after a survey would you argue the fact if house prices have gone up again in the last few months.

I would be watching the market very carefully as a buyer at the moment.

This is a key point has I have mentioned to a lot of people in other forums they are a lot of uncertainties in the world at the moment and I know some people don't like to hear this but has this year goes on many people will be hit hard with rampant inflation and higher interest rates. There will less demand for property purchases and prices will start to fall, it won't happen overnight but is coming and the possibility of a bad recession will cause this biggest bubble in housing history to crash really hard.

Thanks Crashy.  How's the bedsit?