for those with there house for sale how low are the silly offers coming in at ?

500Triumph650

johnny_storm wrote: »

http://www.propertysnake.co.uk/site/postcode/kt1
Fassett Road, Kingston Upon Thames

2 Bedroom flat, original price £280k, now 200k. Down 28% eeeek

My sister had a flat in Fassett Road 6 years ago. She moved a few roads away into a 2 bed Victorian semi. The prices there are absurd. I am not surprised that someone who paid full asking price in Kingston a few months ago is now visiting this site :think:

dolce_vita

do_it_today! wrote: »

Good for you!
curious to know if the market does nose dive by 30-60% will you buy again?

Of course I will.

That's exactly what I did 15 years ago.

PasturesNew

A year ago, I was on at £273k.
Had 3-4 offers at £250k (developers) over the first 6 months. I said "no", but I knew I was cutting it fine for the slump/slowdown I could see coming.

Dropped price to £267k.
Accepted a purchase at £262k ,.... which then didn't complete

Got an immediate replacement offer at £258k, I said "no"
They immediately came back at £262k

All done and dusted.

Job's a good 'un. Glad I sold it then.

The price I had it on at the EA SWORE was the right price. They didn't want me to drop at all. They said it'd sell at the higher price/s.

If I had STILL been on the market, I'd probably be putting it out at £220k by now to get it off my hands before things get worse.

nethesi

Hi OP,

To answer you're question we had some lower offers than we eventually sold for, we were on at £170K and had offers from £160K-£168.5. We eventually (and I mean eventually - the whole saga took 8 months, a no chain sale to a 1st time buyer) sold for £167.5K.

To put in my tuppence worth, the poster above who pointed out that you are 24 and couldn't remember the last HPC - I'm 25 and obviously had no interest in property back then, but talk to our parents' generation and you'll see why everyone is warning you, it might be a bit aggressive but MOST of the posters genuinely are trying to help in their own ways.

Incidentally I'd be interested in whether you are selling to rent, which it what we've ended up doing, all-be-it inadvertently!

Plus i can see why so many people are annoyed by comments like 'it's worth XYZ" - I know you think it is, but negotiation is all about finding out what you and a buyer can agree on. Still if you are willing to negotiate I'm sure that won't be a problem. For the record this part of the forum is - I would consider - the least supportive of the boards, if you use any other parts you should find the posters helpful - I've picked up loads of tips from all round the boards (DFW especially, even though I now haven't even got a mortgage...)

500Triumph650

I put my house on the market in May at £289,000. We had 4+ viewings per week but no offers. After 6 weeks or so we dropped to 279. The viewings dried up. First week of August we got a 267 offer and I said I was after 275. They came back with 272 and I accepted. The sale completes on the 11th of January.

I had the house valued and stressed 'quick sale price' last January. The EA said 275. We tried it a bit higher when we put it on because A: we didn't need a quick sale and B: the market was meant to have gone up.

We ended up taking 3 grand less than the quick sale price of last January. I live on the south coast near Christchurch. A nice area with the long range London commuter factor.

The conclusions that I draw are that the price stagnation has already happened where I live and it's downhill from now on. I am going into a rented place for a while and feel that I may well have sold at the peak.

Running_Horse

SquatNow wrote: »

The OPs house is WORTH £115k, as that's what someone is prepared to pay her for it. If someone offered her £500k then it would be WORTH £500k.

It is obvious you have never bought a house. A house is worth what someone is willing to pay for it, and what someone is willing to sell it for. If the vendor turns down the offer it is not worth £115,000.

OP. We had a similar silly offer in 2006, and refused, so the house was not worth their silly offer. In fact it was worth an extra £21,500 when we went back on the market in 2007. Next time you do a search on Rightmove, do the same search including STC, and you will see that houses are still selling. My advice would be to refuse this offer (from experience, such chancers will try for more at survey time), and see what happens in the new year.

SquatNow

Running_Horse wrote: »

It is obvious you have never bought a house. A house is worth what someone is willing to pay for it, and what someone is willing to sell it for. If the vendor turns down the offer it is not worth £115,000.

I have a coffee cup which I would not be willing to sell for less than £150,000.

Therefore it is worth £150,000.

I only payed £5 for it. Therefor I have £149,995 equity in it.

Can anyone advise of a bank which would be willing to offer MEW on a coffee cup as I wish to buy a Ferrari but don't want to sell my coffee cup to pay for it.

jonewer

SquatNow wrote: »

Can anyone advise of a bank which would be willing to offer MEW on a coffee cup as I wish to buy a Ferrari but don't want to sell my coffee cup to pay for it.

I have a latte that has been on the market at £625k for two weeks now... fancy trading up?

SquatNow

jonewer wrote: »

I have a latte that has been on the market at £625k for two weeks now... fancy trading up?

Sorry I'm a tea drinker. I should add, the coffee cup is empty, except for a little mould. It's a fixer-upper, hence only worth £150k.

DaveyDave_3

SquatNow wrote: »

Can anyone advise of a bank which would be willing to offer MEW on a coffee cup as I wish to buy a Ferrari but don't want to sell my coffee cup to pay for it.

Northern Crock?