Buyers out there what percentage did you knock off the asking price when it was agree

m00m00

there's plenty of property on the market

if seller A won't accept X%

then somewhere along the line one of Seller B-Z will

DaveyDave_3

EdInvestor wrote: »

However if you want quality property, you're likely to have to pay up in the normal way and it will waste everyone's time if you put in silly offers..

Yeah, but what constitutes a 'silly' offer depends on many factors. And it isn't just down to the condition of the property. What will grind property prices down in this proposed 'crash' will be forced sellers that HAVE to sell so financial reasons. There's not going to be a glut of property on the market so this is only way I can see that we're going to get a lowering prices. It's also really up to the EAs to start proposing lower prices when bringing new properties onto the market. In the end it's in their interest to do so. So EAs have ramped the prices on the way up and will have to ditch them on the way down to get their commission. I think waiting for properties in the market at the moment to drop will take a painfully long time as the vendors won't like it and may already have finanical commitments on their new dream home.

neverdespairgirl

EdInvestor wrote: »

but get snapped up before listing by EAs

This isn't aimed at you personally, but I feel as if I've read the phrase "snapped up" in relation to houses thousands of times over the last week or two, on these boards, and I've reached saturation point!

yoshihirouk

New Build properties:

You can genuinely have a field day here but remember: it's very rare to get a no money down deal nowadays as most mortgage lenders will block them.

In simple terms:

The Mortgage lender will lend based upon the purchase price or the valuation, whichever is lower (so your loan to value is unlikely to stretch beyond any incentive/discount/allowance that the lender allows; usually 5%).

Find out when the builder's end of year is. Around this time, sales directors will do almost anything to sell a property and make their bonus. Discounts of 10-20% are not unheard of but then again, are their purchase prices over-inflated anyway??

EdInvestor

neverdespairgirl wrote: »

This isn't aimed at you personally, but I feel as if I've read the phrase "snapped up" in relation to houses thousands of times over the last week or two, on these boards, and I've reached saturation point!

I quite understand.It's a bit like "devastated".Isn't it incredible how people get devastated about the tiniest little thing? :rolleyes:

neverdespairgirl

EdInvestor wrote: »

I quite understand.It's a bit like "devastated".Isn't it incredible how people get devastated about the tiniest little thing? :rolleyes:

Yes, such as their garage keys not working, or similar (-:

My other current hates are, "plethora", when people just use it as a posh-sounding word for " lots of", and the word "property" being over-used instead of "house" or "flat".

m00m00

as with anything knowledge is power.

spend some time researching the area you are looking at, and use property bee, and you'll soon spot the properties that are likely to accept reductions etc.


there's one I've noticed, that has price tinkering every week, from 123k to 125k to 123k to 125k etc for 3 months solid. My guess on this one, is they can't afford to drop the price, so would be very resistant to lower offers.

Toto

neverdespairgirl wrote: »

This isn't aimed at you personally, but I feel as if I've read the phrase "snapped up" in relation to houses thousands of times over the last week or two, on these boards, and I've reached saturation point!

Completely off topic, I hate snapped up too but I cringe when people use the word airy to describe a house. What does that mean? It has air in it!

m00m00

Toto wrote: »

Completely off topic, I hate snapped up too but I cringe when people use the word airy to describe a house. What does that mean? It has air in it!

means the roof is full of holes, and the local scum have put bricks through the window the night before the estate agent visited.

apuleius

In my part of London I'm seeing a lot of btl flats coming onto market where the vendors have to sell. They often need a fair amount spent on them as have grown tatty. This needs to be factored in to any realistic offer. The flat we saw was in good location but needed money spent - this is factored into the offer. Canny sellers who need to sell drop the price quickly but still are finding it difficult to shift. Not surprisingly over 300k for a onebedroom flat is clearly outrageous and beyond the means of most ftb.