Is it appropriate to ask for a reduction in price?

theartfullodger

fantasyvsreality said:

Is it appropriate to ask for a reduction in price?

Yes of course: But beware the possible vendor's response (which I always use..)  "Oh, I didn't realise the price was flexible, thanks for purchaser's changing the process, in that case it's just gone up £25k".  (Sold 2 houses in last 3 years, another under offer now).

[Deleted User]

lookstraightahead said:

[Deleted User] said:

mi-key said:

[Deleted User] said:

Don't ask. Tell them what you think it is worth and are willing to pay.

And no doubt they will tell the OP what they think it is worth and what they are willing accept

Yes. That's how it should work. If the two of them can't agree because the seller is being unreasonable, best to walk away. Don't pay over the odds and risk financial difficulty or negative equity.

Exactly this. Always know what the most is you are willing to pay. Then walk away if not accepted.

Another home will always be there. Forget words like 'dream' as you don't want it to turn into a nightmare if you can't afford it.

on the other hand there are things you can see at first viewing. But it's up to you. 

No house is worth not being able to afford. It is just a house. 

There is a lot of 'excellent point' and 'exactly' remarks exchanged on this forum.

In the end OP made an offer which was accepted by this 'ujnreasonable vendor'.

The survey has thrown up an issue with double glazing and repointing. These issues should have been apparant on viewing. Moreover OP seems to want to replace double glazing of a certain vintage, with new. By all means he can ask to split costs with the vendor, who may well feel they have priced it accordingly.  Its not unreasonable, its standard.

Emily_Joy

Emily_Joy said:

I appreciate the evidence is incomplete, I might be able to visit the area in June, I will try to remember to update.

So I had a chance to visit the area again a couple of days ago. So I thought I will update: 



I took the photo myself. 5 years on and still cannot be lived in. It looks like it has been completely rebuild and has a new roof. No Scaffolding!   

I am really glad I decided to stay clear of this adventure back then

Sarah1Mitty2

lookstraightahead said:

[Deleted User] said:

mi-key said:

[Deleted User] said:

Don't ask. Tell them what you think it is worth and are willing to pay.

And no doubt they will tell the OP what they think it is worth and what they are willing accept

Yes. That's how it should work. If the two of them can't agree because the seller is being unreasonable, best to walk away. Don't pay over the odds and risk financial difficulty or negative equity.

Exactly this. Always know what the most is you are willing to pay. Then walk away if not accepted.

Another home will always be there. Forget words like 'dream' as you don't want it to turn into a nightmare if you can't afford it.

on the other hand there are things you can see at first viewing. But it's up to you. 

No house is worth not being able to afford. It is just a house. 

Great advice.

Sarah1Mitty2

theartfullodger said:

fantasyvsreality said:

Is it appropriate to ask for a reduction in price?

Yes of course: But beware the possible vendor's response (which I always use..)  "Oh, I didn't realise the price was flexible, thanks for purchaser's changing the process, in that case it's just gone up £25k".  (Sold 2 houses in last 3 years, another under offer now).

With mortgage rates trending up I don`t think that will work now.