idiot investor!!

Davesnave

Some rather unbalanced comments here.

A few people on MSE seem to think that they are going to see 25% reductions overnight and that the sky will fall in by next Tuesday. Your house may only be worth £75k eventually, say in a year or more, but nobody knows that yet. You imply you've been on the market 2 months or so, which isn't that long, but by now you should have some feedback to know whether taking, say, a 10% below offer would be advisable & marketing accordingly. Only you know your house's strengths & weaknesses, your circumstances, your area etc.

As for the guy who is offering the £75k, he's only doing what a lot of people will do at the moment; trying it on, probably with many properties simultaneously. Why not? He will most likely get lucky somewhere, as there are people who need to move urgently, and who may decide to take a hit like that rather than faff around.

In short, in a falling market, this chap's behaviour is to be expected, your reaction is understandable & it's the new 'normality.'

tbs624

Thanks button doesn't seem to be available but I agree with Davesnave and ManatHome.

VFR-Rider

Couldn't you just instruct the EA to only forward offers over X?

Lotus-eater

Davesnave wrote: »

Some rather unbalanced comments here.

A few people on MSE seem to think that they are going to see 25% reductions overnight and that the sky will fall in by next Tuesday. Your house may only be worth £75k eventually, say in a year or more, but nobody knows that yet. You imply you've been on the market 2 months or so, which isn't that long, but by now you should have some feedback to know whether taking, say, a 10% below offer would be advisable & marketing accordingly. Only you know your house's strengths & weaknesses, your circumstances, your area etc.

As for the guy who is offering the £75k, he's only doing what a lot of people will do at the moment; trying it on, probably with many properties simultaneously. Why not? He will most likely get lucky somewhere, as there are people who need to move urgently, and who may decide to take a hit like that rather than faff around.

In short, in a falling market, this chap's behaviour is to be expected, your reaction is understandable & it's the new 'normality.'

:eek: OMG Sensible writing!

:rotfl: makes a nice change anyway. I agree.

poppyolivia

Not sure where you are from OP But here the other day a property valued at 129K sold for 155K.... 75K is a joke but can't blame him for trying:)

By the way that was a 3 bed terraced.

Good luck xx

WTF?_2

salduck wrote: »

My House has been on the market and in the first month i had an investor offer me 75k for my 100k valued house! I said no thanks he then went to view it again and offered wait for it.........75k. My estate agent phoned me yesterday to say he had offered wait for it.......75k a third time in 2 months!!!! just a rant but hello???? how silly????

Who valued it at 100k and when did they value it?

The market would appear to be valuing it at 75k.

carolt

Hey, guess what, I've just valued it at 150K.

It's now worth 150K. It's official.

Weheey! You lucky thing! you've just made 50K in 2 months...

Ah, but it's not, is it...?

PS When you've actually sold it, will you then come back and tell us what it was ACTUALLY worth?

dannyboycey

salduck wrote: »

how silly????

Yeah!! What a fool - I bet he risks getting trampled in the stampede with all the other people rushing to give you full asking price.

Come back in 3 months and tell us he's still a fool.

DrFluffy

A property is only worth what some one will pay for it, surely?

It has been on the market for a while - why isn't it selling? Has it been over valued?

hearts

I know guys who have done this for ages. Its nothing to do with the market strength or weakness. These guys have done this for years, even when the market was at it's strongest. Although, if you (the seller) think the market is falling it obviously helps.
It costs nothing to stick in a cheeky offer and if it earns you 20k for a few minutes work GREAT.!