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STALEMATE! how to procede is buyer and seller aren't budging ...

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Comments

  • Jorgan_2
    Jorgan_2 Posts: 2,270 Forumite
    Depending on the size of the sellers mortgage, it maybe a case of they can't accept the offer rather than they won't. Its very easy to assume that everyone can take some form of drop on their asking price, but many can't.
  • TighterThanTwoCoatsOfPain
    TighterThanTwoCoatsOfPain Posts: 860 Forumite
    has anyone considered that the house may be "worth" 135-140k and the seller has already gone rock bottom that they'll accept and sat it on the stamp duty boundry to further intice people?

    Its what i did in Oct last year and i wouldnt have budged... Obviously if the current value is only 125k then the seller ought to be biting your hand off!
  • Richard_Webster
    Richard_Webster Posts: 7,646 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Quote:
    Originally Posted by Richard Webster viewpost.gif
    Why on earth would anyone want to do that in today's market?

    I assume you mean my idea of loan. It is based on the times where there can be equally stubborn parties - the buyer and the seller, It is creative thinking to try and make the deal proceed. Solicitors do not like it so is that why you seem so shocked
    ?

    If it were not a buyer' s market then that might be an idea - I was simply saying that if OP thinks that the property isn't worth any more than £120K and there are other similar properties out there for that money then why should he even consider a loan?
    RICHARD WEBSTER

    As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.
  • chickmug
    chickmug Posts: 3,279 Forumite
    Richard_Webster wrote: »
    If it were not a buyer' s market then that might be an idea - I was simply saying that if OP thinks that the property isn't worth any more than £120K and there are other similar properties out there for that money then why should he even consider a loan?

    I am just putting in alternative ideas which may 'oil the wheels' in some cases. Not trying to analyse the value - good or bad.
    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.
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    Tel the vendor to poke it, and you find another property, its a buyers market afterall!
  • Gonzo
    Gonzo Posts: 115 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Jorgan wrote: »
    Depending on the size of the sellers mortgage, it maybe a case of they can't accept the offer rather than they won't. Its very easy to assume that everyone can take some form of drop on their asking price, but many can't.

    has anyone considered that the house may be "worth" 135-140k and the seller has already gone rock bottom that they'll accept and sat it on the stamp duty boundry to further intice people?

    Its what i did in Oct last year and i wouldnt have budged... Obviously if the current value is only 125k then the seller ought to be biting your hand off!


    I think that one of those 2 points are probably the crux of the matter!

    I don't think a drop that little would deter someone in the normal course of things.

    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.

This discussion has been closed.
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