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

Running_Horse

SquatNow wrote: »

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.

Stop parading your ignorance. The value of anything depends on a buyer and seller. No doubt you have a buyer for your cup of coffee. Or are you squatting in it? No I forgot, you don't squat, you just tell everyone else to.

SquatNow

johnny_storm wrote: »

Its an exciting time to be alive with abig deposit :-)

And a good time to wait a few years and your "deposit" will buy a place outright.

SquatNow

Running_Horse wrote: »

Stop parading your ignorance. The value of anything depends on a buyer and seller. No doubt you have a buyer for your cup of coffee.

Many thanks... that was the point I was trying to make with my comment.

Without a buyer you can't have a true value. You can say something is worth any amount you wish, it doesn't make it so. Only someone giving you that much money for it does that.

If the "seller" does not wish to "sell" for the amount offered to them, then they are not a seller... they are merely an owner, and the value is undefined.

MissMotivation

Lizzie

I think the reason you are getting a variety of answers is becase there is no one correct answer.

As an EA and more importantly an EA in the area that you are selling in I can give you the following advice.

Firstly I don't know which village you are talking about, however the company I work for have several offices in Leicester and I specifically cover 2 differant offices so I like to think I have quite an in depth knowledge of the Leicester market. I think the fact that you have had an offer, albeit a low one, is encouraging in the market and the time of year we are in. The question I would ask you is if this offer had come in after being on the market for several months would you have been so hasty in turning it down? I think some Vendors get encouraged by the fact that they get early viewings/sales BUT what if this is the only serious offer you get? Would you be so quick to turn it down?

Within the last week we have had offers as little as £950 off asking price (out of interest the Vendor is "thinking" about this lol) and as much as £40,000 off an asking price.

Ultimately a property is worth what a prospective purchaser thinks it's worth! I wouldn't class any offer as "silly" in the market we are in at present.

LizzieandThomas

MissMotivation wrote: »

Lizzie

I think the reason you are getting a variety of answers is becase there is no one correct answer.

As an EA and more importantly an EA in the area that you are selling in I can give you the following advice.

Firstly I don't know which village you are talking about, however the company I work for have several offices in Leicester and I specifically cover 2 differant offices so I like to think I have quite an in depth knowledge of the Leicester market. I think the fact that you have had an offer, albeit a low one, is encouraging in the market and the time of year we are in. The question I would ask you is if this offer had come in after being on the market for several months would you have been so hasty in turning it down? I think some Vendors get encouraged by the fact that they get early viewings/sales BUT what if this is the only serious offer you get? Would you be so quick to turn it down?

Within the last week we have had offers as little as £950 off asking price (out of interest the Vendor is "thinking" about this lol) and as much as £40,000 off an asking price.

Ultimately a property is worth what a prospective purchaser thinks it's worth! I wouldn't class any offer as "silly" in the market we are in at present.

Thanks for your reply. If this offer came months after being on the market i can honestly say 100% certain i would not accept .

I do need a bigger home but i would rather wait.

LizzieandThomas

Can i just say im gobsmacked at the amount of posts - when i put this up this morning it was not with much thought more a moment of bordem !

I will keep you updated. im not at this time happy to post the right move link, infact i will think twice before posting on a public forum again with a personal matter.
Many thanks.

donkeyman18

MissMotivation wrote: »

Lizzie


Within the last week we have had offers as little as £950 off asking price...

Yeah, those £3k one bed flats sure can be tough to shift

jyonda

LizzieandThomas wrote: »

Thanks for your reply. If this offer came months after being on the market i can honestly say 100% certain i would not accept .

I do need a bigger home but i would rather wait.

Wait for what? The whole global credit crunch thing to go away? It took about 7 years last time so you might be stuck in your current property for quite a long time. In these belt tightening scenarios job losses are inevitable and I would think seriously about the possible impact on peoples ability to borrow in the future and my own ability to make mortgage payments in the future. That's a very bearish outlook but 10 years of relentless HPI madness will do that to a person. A lot of people have been predicting a 'crash' for some time and there have ALWAYS been others counter-arguing that prices only go up, work harder, you're just jealous etc and citing personal experience of how much they 'made' from property. The significant difference NOW is that these arguments are very thin on the ground and very few people are bullish about the market. For me that is an indicator of sentiment change which I haven't seen before on this board. For that reason I wouldn't hang around, I'd haggle a bit for show and let the buyer think they were getting a bargain then I'd rent and see what happens. You are holding a depreciating asset and virtually everybody thinks so. What do you think will happen next?

You didn't do anything wrong with your post, you just touched a bit of a nerve.
All the best.

Viv

Only just read all these posts Why is everyone being so thick. Lizzie wanted to hear amusing little tales like 'my house was on for 200 grand and a cheeky offer came in for £60 grand' not all this sniping and clever !!!!!! comments. I think you need to lighten up How many times did she have to say 'I am not asking for advice just anecdotes' I am with her, a £25,000 less offer on a £140,000 property is a cheeky offer after 4 days on the market!!

LizzieandThomas

Viv wrote: »

Only just read all these posts Why is everyone being so thick. Lizzie wanted to hear amusing little tales like 'my house was on for 200 grand and a cheeky offer came in for £60 grand' not all this sniping and clever !!!!!! comments. I think you need to lighten up How many times did she have to say 'I am not asking for advice just anecdotes' I am with her, a £25,000 less offer on a £140,000 property is a cheeky offer after 4 days on the market!!

THANKYOU !!!!!!!!!!!!!!!!! Thats all i was asking - it was a very light hearted post that i started.