How much do I offer?

MeteredOut

ReadySteadyPop said:

RHemmings said:

Jami74 said:

Britannia12345 said:

 It's been empty for a year or two. 

Do you know why? 

I'm also a first time buyer, so have no expertise to offer at all. But I'd be more concerned if say, there had been other offers accepted but never made it to completion than if the sellers had to wait for probate. 

The estate agent for the property I offered on made it clear that the sellers had already dropped the price and couldn't go any lower. I offered a cheeky £5k below their 'offers over' price which they turned down after 3 agonising days and then they accepted the 'offers only' price. I'm happy as it's within my budget. I probably would have gone up another £5k but glad I didn't because there's been a couple of little things crop up that might cost me that.

By using one or more of the plugins available that track Rightmove prices, it is sometimes possible to see the sales history of properties. E.g. if there have been a number of sales that have fallen through, That can be partially informative. If there have been many failed sales, then it's worthwhile trying to find out why.

Note that sometimes when properties are removed from Rightmove (Zoopla, etc.) and added back again, the previous listings aren't linked. Hence, the information is not 100%. But, it can be interesting, and eye-opening, looking at history. One property I saw near to me had had nine offers, and was still on the market, having returned to the market nine times. 

Many sellers do this rather than accept that they won`t get the price they paid when interest rates were at zero.

Agreed. I guess that's why the market has not tanked like some predicted/hoped. The market will eventually catch up to the price they're after.

PS. Interest rates were never zero.

ReadySteadyPop

MeteredOut said:

ReadySteadyPop said:

RHemmings said:

Jami74 said:

Britannia12345 said:

 It's been empty for a year or two. 

Do you know why? 

I'm also a first time buyer, so have no expertise to offer at all. But I'd be more concerned if say, there had been other offers accepted but never made it to completion than if the sellers had to wait for probate. 

The estate agent for the property I offered on made it clear that the sellers had already dropped the price and couldn't go any lower. I offered a cheeky £5k below their 'offers over' price which they turned down after 3 agonising days and then they accepted the 'offers only' price. I'm happy as it's within my budget. I probably would have gone up another £5k but glad I didn't because there's been a couple of little things crop up that might cost me that.

By using one or more of the plugins available that track Rightmove prices, it is sometimes possible to see the sales history of properties. E.g. if there have been a number of sales that have fallen through, That can be partially informative. If there have been many failed sales, then it's worthwhile trying to find out why.

Note that sometimes when properties are removed from Rightmove (Zoopla, etc.) and added back again, the previous listings aren't linked. Hence, the information is not 100%. But, it can be interesting, and eye-opening, looking at history. One property I saw near to me had had nine offers, and was still on the market, having returned to the market nine times. 

Many sellers do this rather than accept that they won`t get the price they paid when interest rates were at zero.

Agreed. I guess that's why the market has not tanked like some predicted/hoped. The market will eventually catch up to the price they're after.

PS. Interest rates were never zero.

Unlikely in my opinion

https://www.thisismoney.co.uk/money/markets/article-13675371/Lloyds-boss-Dont-expect-cheap-deals-rates-fall.html

Events at the weekend are going to potentially wreck any idea of rate cuts as well, the best way to sell a house is to price it for the current market, the best way to protect yourself from higher interest rates is to minimise your debt load.

BarelySentientAI

ReadySteadyPop said:

MeteredOut said:

ReadySteadyPop said:

RHemmings said:

Jami74 said:

Britannia12345 said:

 It's been empty for a year or two. 

Do you know why? 

I'm also a first time buyer, so have no expertise to offer at all. But I'd be more concerned if say, there had been other offers accepted but never made it to completion than if the sellers had to wait for probate. 

The estate agent for the property I offered on made it clear that the sellers had already dropped the price and couldn't go any lower. I offered a cheeky £5k below their 'offers over' price which they turned down after 3 agonising days and then they accepted the 'offers only' price. I'm happy as it's within my budget. I probably would have gone up another £5k but glad I didn't because there's been a couple of little things crop up that might cost me that.

By using one or more of the plugins available that track Rightmove prices, it is sometimes possible to see the sales history of properties. E.g. if there have been a number of sales that have fallen through, That can be partially informative. If there have been many failed sales, then it's worthwhile trying to find out why.

Note that sometimes when properties are removed from Rightmove (Zoopla, etc.) and added back again, the previous listings aren't linked. Hence, the information is not 100%. But, it can be interesting, and eye-opening, looking at history. One property I saw near to me had had nine offers, and was still on the market, having returned to the market nine times. 

Many sellers do this rather than accept that they won`t get the price they paid when interest rates were at zero.

Agreed. I guess that's why the market has not tanked like some predicted/hoped. The market will eventually catch up to the price they're after.

PS. Interest rates were never zero.

Unlikely in my opinion

https://www.thisismoney.co.uk/money/markets/article-13675371/Lloyds-boss-Dont-expect-cheap-deals-rates-fall.html

Events at the weekend are going to potentially wreck any idea of rate cuts as well, the best way to sell a house is to price it for the current market, the best way to protect yourself from higher interest rates is to minimise your debt load.

And the best way to lock yourself out of the market is to sell up expecting a crash that never happens.

ReadySteadyPop

BarelySentientAI said:

ReadySteadyPop said:

MeteredOut said:

ReadySteadyPop said:

RHemmings said:

Jami74 said:

Britannia12345 said:

 It's been empty for a year or two. 

Do you know why? 

I'm also a first time buyer, so have no expertise to offer at all. But I'd be more concerned if say, there had been other offers accepted but never made it to completion than if the sellers had to wait for probate. 

The estate agent for the property I offered on made it clear that the sellers had already dropped the price and couldn't go any lower. I offered a cheeky £5k below their 'offers over' price which they turned down after 3 agonising days and then they accepted the 'offers only' price. I'm happy as it's within my budget. I probably would have gone up another £5k but glad I didn't because there's been a couple of little things crop up that might cost me that.

By using one or more of the plugins available that track Rightmove prices, it is sometimes possible to see the sales history of properties. E.g. if there have been a number of sales that have fallen through, That can be partially informative. If there have been many failed sales, then it's worthwhile trying to find out why.

Note that sometimes when properties are removed from Rightmove (Zoopla, etc.) and added back again, the previous listings aren't linked. Hence, the information is not 100%. But, it can be interesting, and eye-opening, looking at history. One property I saw near to me had had nine offers, and was still on the market, having returned to the market nine times. 

Many sellers do this rather than accept that they won`t get the price they paid when interest rates were at zero.

Agreed. I guess that's why the market has not tanked like some predicted/hoped. The market will eventually catch up to the price they're after.

PS. Interest rates were never zero.

Unlikely in my opinion

https://www.thisismoney.co.uk/money/markets/article-13675371/Lloyds-boss-Dont-expect-cheap-deals-rates-fall.html

Events at the weekend are going to potentially wreck any idea of rate cuts as well, the best way to sell a house is to price it for the current market, the best way to protect yourself from higher interest rates is to minimise your debt load.

And the best way to lock yourself out of the market is to sell up expecting a crash that never happens.

That would be a historical first, debt bubbles always always pop, the amount of debt this time is truly scary though.

BarelySentientAI

ReadySteadyPop said:

BarelySentientAI said:

ReadySteadyPop said:

MeteredOut said:

ReadySteadyPop said:

RHemmings said:

Jami74 said:

Britannia12345 said:

 It's been empty for a year or two. 

Do you know why? 

I'm also a first time buyer, so have no expertise to offer at all. But I'd be more concerned if say, there had been other offers accepted but never made it to completion than if the sellers had to wait for probate. 

The estate agent for the property I offered on made it clear that the sellers had already dropped the price and couldn't go any lower. I offered a cheeky £5k below their 'offers over' price which they turned down after 3 agonising days and then they accepted the 'offers only' price. I'm happy as it's within my budget. I probably would have gone up another £5k but glad I didn't because there's been a couple of little things crop up that might cost me that.

By using one or more of the plugins available that track Rightmove prices, it is sometimes possible to see the sales history of properties. E.g. if there have been a number of sales that have fallen through, That can be partially informative. If there have been many failed sales, then it's worthwhile trying to find out why.

Note that sometimes when properties are removed from Rightmove (Zoopla, etc.) and added back again, the previous listings aren't linked. Hence, the information is not 100%. But, it can be interesting, and eye-opening, looking at history. One property I saw near to me had had nine offers, and was still on the market, having returned to the market nine times. 

Many sellers do this rather than accept that they won`t get the price they paid when interest rates were at zero.

Agreed. I guess that's why the market has not tanked like some predicted/hoped. The market will eventually catch up to the price they're after.

PS. Interest rates were never zero.

Unlikely in my opinion

https://www.thisismoney.co.uk/money/markets/article-13675371/Lloyds-boss-Dont-expect-cheap-deals-rates-fall.html

Events at the weekend are going to potentially wreck any idea of rate cuts as well, the best way to sell a house is to price it for the current market, the best way to protect yourself from higher interest rates is to minimise your debt load.

And the best way to lock yourself out of the market is to sell up expecting a crash that never happens.

That would be a historical first, debt bubbles always always pop, the amount of debt this time is truly scary though.

Remind us, how far do you need prices to drop now?

Britannia12345

Thanks everyone