House buyer reduced offer

Ath_Wat

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

OhWow said:

tab99uk said:

its a seller market them days have gone when you can a reduction on asking price now days you get over 20k asking price.

my DD and also one cousin, have been trying to sell their property's for the last year/two years and can't sell unless they take an offer below what they paid 5 years/3 years ago.

Are these new-builds where the sellers obviously paid a hefty premium for a brand new house with sparkly new appliances? As other than that I can't fathom where in the UK house prices are lower now than they were 3 to 5 years ago...

You seem to just look at headline statistics, the biggest changes to the mortgage market in well over a decade just kicked in a  few weeks ago! This almost certainly isn`t reflected in the stats yet, if the posters says that is what they are seeing then I tend to believe them.

Hilarious! So you want to ignore official verifiable stats because they don't paint the picture you want and instead believe in click-bait marketing bumph and patently false claims. The desperation from the HPC crowd is palpable.

Anyway, for the avoidance of doubt, on average house prices have increased by roughly 30% over the last five years so according to you we'll see reductions of around 30% in 3 to 6 months time when today's prices are reflected in the stats... are you absolutely sure about that or would you like to revise your claims?

The house we are supposed to be discussing, our real world example, had the buyer reduce their offer by 35%.

That is one example -  you have no idea whether the original asking price was realistic (lack of other offers offers suggest that it wasn't) ,and they subsequently increased that offer only to drop it because of work needed, which has nothing to do with the market.
If you would prefer to take that as evidence over the available statistics  that's your prerogative, but you certainly can't make any claim to objectivity.

tooldle

newsgroupmonkey_ said:

angelasocks said:

Never heard of Connells/Sequence group

Never heard of Connell's estate agents?

And sequence are a group of estate agents that are often old local respected names that were bought out.

https://www.sequencehome.co.uk/ - put your postcode in to find your local one - you'll be surprised that they're owned by a large company rather than being an independent.

They're all owned by Connells group (who also now own Countrywide)

Being curious, I tried the search and it comes up with nothing for my area. Our local agents are it seems independent, just as they say they are.

aoleks

Alright, let’s clarify something:

1. the “prime London” market people are referencing here is in fact the luxury areas of central London where properties are bought as an investment. They’re bought by people who would not even look at a few million pounds here and there and NOT your normal family, hence the price sold is completely irrelevant and detached from the “real” (more details below) London market. Someone could like the roses in the garden and the color of the front door and offer millions just for that, because they want it. Even like that, it was proven that the house went up in value by a huge margin, so no “price drop in the prime London market” or other non-sense.

2. if you want to make a point, show me your typical terraced or semi house in places where normal peole live, not oligarchs: richmond, greenwich, bromley, dulwhich, walthamstow, finchley, ealing etc. you will see that prices have been consistently skyrocketing, from zone 2 all the way to zone 6. That’s the “market”, not some speculative properties no one lives in.

3. yes, there are some people looking to chance it, both ways: sellers and buyers. It doesn’t mean the market will crash, the transactions will simply stop until people are out of panic mode and the market will resume. If any of you think that. 1-2% rise in interest rates justifies a significant drop in price (up to 35%, lol), you’re not very smart and likely delhsional.

Sarah1Mitty2

Ath_Wat said:

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

OhWow said:

tab99uk said:

its a seller market them days have gone when you can a reduction on asking price now days you get over 20k asking price.

my DD and also one cousin, have been trying to sell their property's for the last year/two years and can't sell unless they take an offer below what they paid 5 years/3 years ago.

Are these new-builds where the sellers obviously paid a hefty premium for a brand new house with sparkly new appliances? As other than that I can't fathom where in the UK house prices are lower now than they were 3 to 5 years ago...

You seem to just look at headline statistics, the biggest changes to the mortgage market in well over a decade just kicked in a  few weeks ago! This almost certainly isn`t reflected in the stats yet, if the posters says that is what they are seeing then I tend to believe them.

Hilarious! So you want to ignore official verifiable stats because they don't paint the picture you want and instead believe in click-bait marketing bumph and patently false claims. The desperation from the HPC crowd is palpable.

Anyway, for the avoidance of doubt, on average house prices have increased by roughly 30% over the last five years so according to you we'll see reductions of around 30% in 3 to 6 months time when today's prices are reflected in the stats... are you absolutely sure about that or would you like to revise your claims?

The house we are supposed to be discussing, our real world example, had the buyer reduce their offer by 35%.

That is one example -  you have no idea whether the original asking price was realistic (lack of other offers offers suggest that it wasn't) ,and they subsequently increased that offer only to drop it because of work needed, which has nothing to do with the market.
If you would prefer to take that as evidence over the available statistics  that's your prerogative, but you certainly can't make any claim to objectivity.

The potential buyer in this case is obviously choosing to ignore the averages for houses that sold months ago and reckons that there has been a change in the market, I think they are sensible to do that but I understand the seller`s disappointment as well.

Ath_Wat

Sarah1Mitty2 said:

Ath_Wat said:

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

OhWow said:

tab99uk said:

its a seller market them days have gone when you can a reduction on asking price now days you get over 20k asking price.

my DD and also one cousin, have been trying to sell their property's for the last year/two years and can't sell unless they take an offer below what they paid 5 years/3 years ago.

Are these new-builds where the sellers obviously paid a hefty premium for a brand new house with sparkly new appliances? As other than that I can't fathom where in the UK house prices are lower now than they were 3 to 5 years ago...

You seem to just look at headline statistics, the biggest changes to the mortgage market in well over a decade just kicked in a  few weeks ago! This almost certainly isn`t reflected in the stats yet, if the posters says that is what they are seeing then I tend to believe them.

Hilarious! So you want to ignore official verifiable stats because they don't paint the picture you want and instead believe in click-bait marketing bumph and patently false claims. The desperation from the HPC crowd is palpable.

Anyway, for the avoidance of doubt, on average house prices have increased by roughly 30% over the last five years so according to you we'll see reductions of around 30% in 3 to 6 months time when today's prices are reflected in the stats... are you absolutely sure about that or would you like to revise your claims?

The house we are supposed to be discussing, our real world example, had the buyer reduce their offer by 35%.

That is one example -  you have no idea whether the original asking price was realistic (lack of other offers offers suggest that it wasn't) ,and they subsequently increased that offer only to drop it because of work needed, which has nothing to do with the market.
If you would prefer to take that as evidence over the available statistics  that's your prerogative, but you certainly can't make any claim to objectivity.

The potential buyer in this case is obviously choosing to ignore the averages for houses that sold months ago and reckons that there has been a change in the market, I think they are sensible to do that but I understand the seller`s disappointment as well.

The OP put their house up for, I believe, £120K.  What makes you think that was based on "averages for houses sold months ago"?

The buyer ended up offering a very reasonable £115K, which is what someone putting their house up for 120K would expect,  whatever it was based on, so the buyer clearly wasn't ignoring anything, or saying anything about a change in the market.

The subsequent drop is based on perceived repairs being needed, again, nothing to do with the market.

You appear to me to be drawing entirely unwarranted conclusions, based entirely on wishful thinking, while trying to justify them by continually throwing "the real world" into your posts.

Sarah1Mitty2

Ath_Wat said:

Sarah1Mitty2 said:

Ath_Wat said:

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

OhWow said:

tab99uk said:

its a seller market them days have gone when you can a reduction on asking price now days you get over 20k asking price.

my DD and also one cousin, have been trying to sell their property's for the last year/two years and can't sell unless they take an offer below what they paid 5 years/3 years ago.

Are these new-builds where the sellers obviously paid a hefty premium for a brand new house with sparkly new appliances? As other than that I can't fathom where in the UK house prices are lower now than they were 3 to 5 years ago...

You seem to just look at headline statistics, the biggest changes to the mortgage market in well over a decade just kicked in a  few weeks ago! This almost certainly isn`t reflected in the stats yet, if the posters says that is what they are seeing then I tend to believe them.

Hilarious! So you want to ignore official verifiable stats because they don't paint the picture you want and instead believe in click-bait marketing bumph and patently false claims. The desperation from the HPC crowd is palpable.

Anyway, for the avoidance of doubt, on average house prices have increased by roughly 30% over the last five years so according to you we'll see reductions of around 30% in 3 to 6 months time when today's prices are reflected in the stats... are you absolutely sure about that or would you like to revise your claims?

The house we are supposed to be discussing, our real world example, had the buyer reduce their offer by 35%.

That is one example -  you have no idea whether the original asking price was realistic (lack of other offers offers suggest that it wasn't) ,and they subsequently increased that offer only to drop it because of work needed, which has nothing to do with the market.
If you would prefer to take that as evidence over the available statistics  that's your prerogative, but you certainly can't make any claim to objectivity.

The potential buyer in this case is obviously choosing to ignore the averages for houses that sold months ago and reckons that there has been a change in the market, I think they are sensible to do that but I understand the seller`s disappointment as well.

The OP put their house up for, I believe, £120K.  What makes you think that was based on "averages for houses sold months ago"?

The buyer ended up offering a very reasonable £115K, which is what someone putting their house up for 120K would expect,  whatever it was based on, so the buyer clearly wasn't ignoring anything, or saying anything about a change in the market.

The subsequent drop is based on perceived repairs being needed, again, nothing to do with the market.

You appear to me to be drawing entirely unwarranted conclusions, based entirely on wishful thinking, while trying to justify them by continually throwing "the real world" into your posts.

How can you have special insight into the mind of the buyer from a strangers post on the internet? They could have any number of reasons for their behaviour, many people make up excuses when they are squeamish about overpaying, saying that the buyer obviously didn`t get the memo is kind of a joke, but obviously you didn`t get it?

Ath_Wat

Sarah1Mitty2 said:

Ath_Wat said:

Sarah1Mitty2 said:

Ath_Wat said:

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

OhWow said:

tab99uk said:

its a seller market them days have gone when you can a reduction on asking price now days you get over 20k asking price.

my DD and also one cousin, have been trying to sell their property's for the last year/two years and can't sell unless they take an offer below what they paid 5 years/3 years ago.

Are these new-builds where the sellers obviously paid a hefty premium for a brand new house with sparkly new appliances? As other than that I can't fathom where in the UK house prices are lower now than they were 3 to 5 years ago...

You seem to just look at headline statistics, the biggest changes to the mortgage market in well over a decade just kicked in a  few weeks ago! This almost certainly isn`t reflected in the stats yet, if the posters says that is what they are seeing then I tend to believe them.

Hilarious! So you want to ignore official verifiable stats because they don't paint the picture you want and instead believe in click-bait marketing bumph and patently false claims. The desperation from the HPC crowd is palpable.

Anyway, for the avoidance of doubt, on average house prices have increased by roughly 30% over the last five years so according to you we'll see reductions of around 30% in 3 to 6 months time when today's prices are reflected in the stats... are you absolutely sure about that or would you like to revise your claims?

The house we are supposed to be discussing, our real world example, had the buyer reduce their offer by 35%.

That is one example -  you have no idea whether the original asking price was realistic (lack of other offers offers suggest that it wasn't) ,and they subsequently increased that offer only to drop it because of work needed, which has nothing to do with the market.
If you would prefer to take that as evidence over the available statistics  that's your prerogative, but you certainly can't make any claim to objectivity.

The potential buyer in this case is obviously choosing to ignore the averages for houses that sold months ago and reckons that there has been a change in the market, I think they are sensible to do that but I understand the seller`s disappointment as well.

The OP put their house up for, I believe, £120K.  What makes you think that was based on "averages for houses sold months ago"?

The buyer ended up offering a very reasonable £115K, which is what someone putting their house up for 120K would expect,  whatever it was based on, so the buyer clearly wasn't ignoring anything, or saying anything about a change in the market.

The subsequent drop is based on perceived repairs being needed, again, nothing to do with the market.

You appear to me to be drawing entirely unwarranted conclusions, based entirely on wishful thinking, while trying to justify them by continually throwing "the real world" into your posts.

How can you have special insight into the mind of the buyer from a strangers post on the internet? They could have any number of reasons for their behaviour, many people make up excuses when they are squeamish about overpaying, saying that the buyer obviously didn`t get the memo is kind of a joke, but obviously you didn`t get it?

What behaviour?  Offering 115K for a house up for £120K?

You have to explain why you think that shows they had no faith in the market if you want to claim it does, because to everyone else it looks like a perfectly normal offer.

The fact that they offered less at first doesn't matter, they clearly were prepared to go up to 115.

If you are going to make up reasons for them dropping the offer that ignore the fact that the OP clearly says it's down to repair costs, then again, nobody can stop you doing that.  But you can't invent things, make claims that they are "obvious" when even you have to admit it's just an unsupported possibility, and then draw conclusions from your inventions and claim you are the only one living in the real world.  Quite the reverse appears to be the case.