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Debate House Prices
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When being a cash buyer isn't all it's cracked up to be....
Comments
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MarkyMarkD wrote: »I think, OP, that you are missing the point.
It's fair enough to make a cheeky offer way below the asking price.
But if the seller comes down £10k, it's your turn to make a more sensible offer, not to tell them to reduce their price further.
Why the hell should he increase his price?
We've had years of sellers refusing to budge on price and only accepting "offers over".
The shoe is on the other foot now.
Deal with it.0 -
MarkyMarkD wrote: »I think, OP, that you are missing the point.
It's fair enough to make a cheeky offer way below the asking price.
But if the seller comes down £10k, it's your turn to make a more sensible offer, not to tell them to reduce their price further.
I think that rather depends on whether the OP thinks their offer was cheeky, or whether they think the asking price was cheeky. If they feel their offer was perfectly sensible in the first place then there is no need to make a "more sensible" offer.
We have entered a buyers market, sellers have not come to terms with this yet, but they will.
There are three values to everything
1) What the owner / seller thinks it's worth.
2) What the market thinks it's worth.
3) What any potential buyer thinks it's worth.
Currently number 3 are adjusting down, possibly a little too enthusiastically, but only time will tell that.
Number 2 are begrudgingly beginning to adjust down, because lets face it they have a duty to the client to get best price they can, but also a vested interest as they are in for a percentage.
Number 1 on the other hand are just beginning to realise that an adjustment is needed.Hope for the best.....Plan for the worst!
"Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown0 -
You really must start realising that the seller still has the final say on the price.Why the hell should he increase his price?
We've had years of sellers refusing to budge on price and even only accepting "offers over".
The shoe is on the other foot now.
Deal with it.
If they dont want to budge on the price then you wont get to buy.
So you lot could end up renting still for years to come.0 -
As a seller, I'm looking to negotiate now. My reasoning goes something like this:
Nationwide figures for May were !!!!, denting confidence
Consumer confidence already at record low
Fuel price hikes are impending
Inflation is up
Repossessions are climbing
The summer hols are looming - dead season for sellers
Recent drops are more pronounced than in the early 90s and accelerating
The government looks wobbly, especially Crash Gordon
Even the Council of Mortgage Lenders expects no real improvement in available loan money until Christmas
There is the chance of an 'unknown,' like Northern Wreck
I've just received a rather disappointing offer; not quite as low as Merlin's on the original post, but low. I'm still getting viewings & might better it.......
The question is, 'Do I feel lucky?'
I think I'm going to accept it!
If you had somewhere to sell you could accept it.;)0 -
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pickles110564 wrote: »You really must start realising that the seller still has the final say on the price.
If they dont want to budge on the price then you wont get to buy.
So you lot could end up renting still for years to come.
And the seller could be living in a house that they don't want for years to come!
At least you can just walk away at the end of a tenancy.0 -
pickles110564 wrote: »If you had somewhere to sell you could accept it.;)
Sorry, don't see where you're coming from here. What makes you think I don't?0 -
On the sellers forum that I read, two sellers had offers and asked to think about it overnight. The following day when they went back, the offers had been withdrawn. I assume buyers are multi offering?RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
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