Cheeky offer?

strawb_shortcake

We'd probably accept a 5% below asking price, but we aren't in a huge rush to move and if we wait 2 years our area we can move to opens up more so we can move to a slightly cheaper area and we can be a little more flexible in what we sell for. 

In the mean time we can improve our savings, increase our pay, pay down the mortgage and make our home more sellable. 

Not every seller is desperate to sell, ensuring we have options is important to us. 

powerful_Rogue

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

inigma

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

Depends on the market though, if you're buying when it's hot you have too, like I've said we are buying when the market is falling you have more room to gazunder.  Like I said download the property log extension on chrome, see how long it has been on the market and how often they've changed the price.  I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

MobileSaver

inigma said:

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

One of the more infamous posters on this forum had the same idea and it backfired in spectacular fashion. 

Instead of their predicted property crash, fifteen years on they're still renting a flat and paying their landlord's mortgage while prices are now 66% higher than they were then...

jimbog

inigma said:

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

Depends on the market though, if you're buying when it's hot you have too, like I've said we are buying when the market is falling you have more room to gazunder.  Like I said download the property log extension on chrome, see how long it has been on the market and how often they've changed the price.  I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

A good idea. The longer you wait the cheaper they’ll be 

inigma

MobileSaver said:

inigma said:

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

One of the more infamous posters on this forum had the same idea and it backfired in spectacular fashion. 

Instead of their predicted property crash, fifteen years on they're still renting a flat and paying their landlord's mortgage while prices are now 66% higher than they were then...

Oh dear, well I got my property in 2011 for £170k and they wanted £240k.  Mortgage free for a couple of years now.  Like I said there is a lot lining up for prices to fall, unemployment rising, government debt rising...

inigma

jimbog said:

inigma said:

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

Depends on the market though, if you're buying when it's hot you have too, like I've said we are buying when the market is falling you have more room to gazunder.  Like I said download the property log extension on chrome, see how long it has been on the market and how often they've changed the price.  I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

A good idea. The longer you wait the cheaper they’ll be 

No prices will fall for a while as the dumb money is caught out, during this down period smart money buy as it's cheap against the long term normal, then prices sky rocket and the cycle starts again.

A simple rule dictates my buying: be fearful when others are greedy, and be greedy when others are fearful.

Warren Buffet

My rule is if a flipper has put grey carpet and yellow furniture in on a property they purchased last year offer 15% below what they initially paid for it

Herzlos

MobileSaver said:

inigma said:

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

One of the more infamous posters on this forum had the same idea and it backfired in spectacular fashion. 

Instead of their predicted property crash, fifteen years on they're still renting a flat and paying their landlord's mortgage while prices are now 66% higher than they were then...

I think it was 23 years now. I remember it being essentially a full mortgage term. 

Of course if you get the timing right or get lucky on a house with a cheeky offer to a desperate seller you can do pretty well. But for most people it's safer and easier to just buy the house you like at a price you can manage and let time take care of the rest. 

Herzlos

inigma said:

MobileSaver said:

inigma said:

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

One of the more infamous posters on this forum had the same idea and it backfired in spectacular fashion. 

Instead of their predicted property crash, fifteen years on they're still renting a flat and paying their landlord's mortgage while prices are now 66% higher than they were then...

Oh dear, well I got my property in 2011 for £170k and they wanted £240k.  Mortgage free for a couple of years now.  Like I said there is a lot lining up for prices to fall, unemployment rising, government debt rising...

... affordability checks tighting, banks being less likely to lend, etc. 

A drop in house prices doesn't actually mean that houses will become more affordable to most people who need to get a mortgage. 

inigma

Herzlos said:

inigma said:

MobileSaver said:

inigma said:

powerful_Rogue said:

Depends how much you love the property. 

When we viewed our current house we knew as soon as we walked in the door it was for us. Ticked all our boxes and more. We went straight it at asking price.

I'm holding on till next year or the year after when the flippers and landlords are desperate and you can offer a lower price.

One of the more infamous posters on this forum had the same idea and it backfired in spectacular fashion. 

Instead of their predicted property crash, fifteen years on they're still renting a flat and paying their landlord's mortgage while prices are now 66% higher than they were then...

Oh dear, well I got my property in 2011 for £170k and they wanted £240k.  Mortgage free for a couple of years now.  Like I said there is a lot lining up for prices to fall, unemployment rising, government debt rising...

... affordability checks tighting, banks being less likely to lend, etc. 

A drop in house prices doesn't actually mean that houses will become more affordable to most people who need to get a mortgage. 

Yes, agree which is why I say smart money will be buying bargains when prices fall.