how much ?????

from_the_other_forum

[quote=Gorgeous_George;9557031]TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL
So, it's marketed at £239K and you have £150K but expect to need a £50K mortgage. Seems you've made your mind up on what to offer.
TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL
I wonder what the other forum is :rotfl:
TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL TROLL
Good luck.

GG[/quote]

My question was, what would you offer? I thought this was a forum? Your answer is TROLL TROLL TROLL???

merlinthehappypig

Bottom line is that it is impossible to put a figure on how much to offer. It totally depends on the price the house is on at and the seller's position. You can't generalise. The advice to offer 30% under is no more helpful than the offering from mitchaa above.

The way the market is at the moment there are similar houses on at a wide range of prices. At the top end are the houses that have been on for 12 months or so where the sellers are just pretending at selling and who absolutely refuse to reduce the price - at the low end are houses on sale by sellers who have to sell and where you might just get a bargain.

Offer 20% off to the first sellers and you are wasting your time - offer 10% off to the second and you might be paying 10% too much.

Do your research house by house and make your offer accordingly. Pay what it is worth to you and no more. There are always other houses.

Whatever anyone else says it is definitely a buyer's market at the moment, but many sellers are acting as if this was 18 months ago when all they had to do was advertise and select from a string of buyers.

from_the_other_forum

Thanks for your thoughts, merlinthehappypig, that makes alota sense.

Clearly the whole house selling/buying process is a poker type game, it's just difficult to be subjective when you are gambling with a potential 'home'.

merlinthehappypig

from_the_other_forum wrote: »

Thanks for your thoughts, merlinthehappypig, that makes alota sense.

Clearly the whole house selling/buying process is a poker type game, it's just difficult to be subjective when you are gambling with a potential 'home'.

Yes it is difficult to be subjective, but don't lose sight of the amounts of money we are talking about here.

Just because houses are stupidly expensive doesn't mean that a thousand pounds or two of the purchase price isn't worth having. I simply can't understand the reasoning behind the '£5000 off as a percentage of a purchase price of £240000 is insignificant' type of posts.

Work out how long it takes you to earn £5000 clear. Better still take £5000 out the bank in cash and envisage giving it away or losing it, then decide if even a few hundred off is worth negotiating.

As we have largely paid for houses with other people's money (the bank) we have lost sight of just how much money we are talking about.

We just pulled out of a house purchase, for a variety of reasons. Looked at subjectively I won't haven't earned as much as that house cost in the 29 years since I left school.

TBeckett100

i sometimes wonder if the house price slide is down to news and consensus. i.e. buyer thinks prices are falling, they think it is a buyers market. vendor reads news and thinks its now or never and takes lower offer. lower prices reported and it all goes down from there.

Paul_N_4

TBeckett100 wrote: »

i sometimes wonder if the house price slide is down to news and consensus. i.e. buyer thinks prices are falling, they think it is a buyers market. vendor reads news and thinks its now or never and takes lower offer. lower prices reported and it all goes down from there.

Would that be much different from the news reporting ever increasing house prices, more people think they're going to 'miss the boat', they think its a sellers market, seller reads news and expects higher offers and it all goes up from there?

merlinthehappypig

TBeckett100 wrote: »

i sometimes wonder if the house price slide is down to news and consensus. i.e. buyer thinks prices are falling, they think it is a buyers market. vendor reads news and thinks its now or never and takes lower offer. lower prices reported and it all goes down from there.

I'm absolutely certain that this will be a major factor in any crash this time around, though unsustainably high prices are also a factor, as is the restriction on lending. The only problem is that at present, this is leading to a stand-off between buyers and sellers. Buyers are expecting big falls, and acting like we already have them in some cases - sellers are waiting for evidence of these falls before reducing prices.

We have an offer in at present - I hope our seller has been reading the doom and gloom in the papers!

macaque_2

ukbondraider wrote: »

From my experience, houses under £500K would rarely sell for anything less than 95% of asking price. Only when you go above £500K can you get around 10% discount from asking price.
Good Luck.

I can almost hear the theme music from the 'Twilight Zone' when I read gems like this.

merlinthehappypig

ukbondraider wrote: »

From my experience, houses under £500K would rarely sell for anything less than 95% of asking price. Only when you go above £500K can you get around 10% discount from asking price.

I have to say that isn't our experience either. You simply can't generalise like that.