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House Price Dilema
Comments
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Did he offer the asking price or less? If less how much less did he offer?Excited for Florida - May 2012 :rotfl: :rotfl: :rotfl:0
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The asking price was 130k he offered 129k as he was originally interested in one on the same row for 125k but that needed completely modernising and the one for 130k was ready to move in so would work out better value in the long run and is an end house with more parking.0
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What value came back on the survey?
It's difficult. I would not like to be a FTB making such a big decision at this time.
If he plans to stay for the longterm then maybe its not such a prob but, then there could be complications when re-mortgaging with the LTV.
I would say follow his instincts (god what a cop out I am lol!)Excited for Florida - May 2012 :rotfl: :rotfl: :rotfl:0 -
When you are selling I hope this doesn't happen to you. In a good market do you suggest that sellers should review their price every week with view to increasing!!!
Many did. Either by accepting higher offers later, or holding the buyer over a barrel that unless they stumped up more the house was going back on the market.0 -
I think that asking for £20k off the price at this stage is a bit ridiculous and without getting in to a moral debate regarding gazundering, I am pretty sure that the market has not dropped 15% since the OP's son put in the offer.
Surely the point is that the market may drop another 15% and he has a duty to protect himself by reducing his exposure to risk?0 -
PasturesNew wrote: »Many did. Either by accepting higher offers later, or holding the buyer over a barrel that unless they stumped up more the house was going back on the market.
Not sure on what basis you make this statement as I never saw this happening other than the very very odd case.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
have a read of this http://www.timesonline.co.uk/tol/comment/columnists/alice_miles/article3768099.ece?Submitted=trueIt is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Surely the point is that the market may drop another 15% and he has a duty to protect himself by reducing his exposure to risk?
So when the market was going up sellers should have added at least 20% or more on just in case it went up by that much over the next couple of years? I don't think so.0 -
When you are selling I hope this doesn't happen to you. In a good market do you suggest that sellers should review their price every week with view to increasing!!!
It's exactly what a lot of sellers did do, actually!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »It's exactly what a lot of sellers did do, actually!
Sorry but I never saw this except on the very rare occassion. On what basis do you feel it did happen?A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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