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Waiting for a buyer... Anyone want to join me?
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Yep I dont think we are doing too bad, 8 viewing in under 2 weeks !!
The problem is is that people are using this brexit malarkey as an excuse to low ball offer!!
People are offering me less money than 3 beds have recently gone for on the same estate !!0 -
bikingbarney wrote: »Yep I dont think we are doing too bad, 8 viewing in under 2 weeks !!
The problem is is that people are using this brexit malarkey as an excuse to low ball offer!!
People are offering me less money than 3 beds have recently gone for on the same estate !!
How many offers have you had and how far under the asking price?0 -
Barney it's not an excuse, if prices continue to drop and a buyer has offered too high then their offer will not be matched by their lender's valuation.
It's common sense to want to avoid negative equity no?0 -
Well after falling through 6 weeks ago (buyer pulled out just before exhange) we finally had a low offer last week - 15k under our already reduced price! We decided to accept the offer as the owners of the house we are still trying to buy accepted a much lower offer.. The offer was an investor looking for a bargain and has already paid for searches and is rushing things through. Thought all was done then we had another offer yesterday 10k higher from first time buyers who have their mortgage sorted. We were happy with the investor as he seems really motivated but we can't turn 10k down can we???0
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Well after falling through 6 weeks ago (buyer pulled out just before exhange) we finally had a low offer last week - 15k under our already reduced price! We decided to accept the offer as the owners of the house we are still trying to buy accepted a much lower offer.. The offer was an investor looking for a bargain and has already paid for searches and is rushing things through. Thought all was done then we had another offer yesterday 10k higher from first time buyers who have their mortgage sorted. We were happy with the investor as he seems really motivated but we can't turn 10k down can we???
Erm yes if you want to.
Your house, your choice BUT how would YOU feel if the owner of the house you want to buy accepts a higher offer than yours?
I mean, they couldn't turn it down could they???
Ageing is a privilege not everyone gets.0 -
smile88egc wrote: »Barney it's not an excuse, if prices continue to drop and a buyer has offered too high then their offer will not be matched by their lender's valuation.
It's common sense to want to avoid negative equity no?
This is my worry on a property we're hoping to buy. We offered 10k less based on average market value in the area of properties currently under offer...it was declined but they've said they'll negotiate when we've got a firm sale. Either way I'd be reluctant to increase much more as can't see the bank valuing it at what they're asking for!!0 -
This is my worry on a property we're hoping to buy. We offered 10k less based on average market value in the area of properties currently under offer...it was declined but they've said they'll negotiate when we've got a firm sale. Either way I'd be reluctant to increase much more as can't see the bank valuing it at what they're asking for!!
If you're already on the ladder then it's all relative. Look at the sold price for houses 6 months ago for your own property and the house you're offering on. Has your asking price increased proportionally to that of the one you're offering on? If so, expect a similar % discount for your own property as the one you're offering on. If you achieve more, then you have room to negotiate upwards on the property you're moving to. Don't rip yourself off, but equally don't expect to achieve a discount on your next house but to sell yours at the asking price. You can't have your cake and eat it. You won't know what valuation you will get until it happens, so deal with it when the valuation comes in and revise your offer if needs be but expect the same to happen down the chain.0 -
If you're already on the ladder then it's all relative. Look at the sold price for houses 6 months ago for your own property and the house you're offering on. Has your asking price increased proportionally to that of the one you're offering on? If so, expect a similar % discount for your own property as the one you're offering on. If you achieve more, then you have room to negotiate upwards on the property you're moving to. Don't rip yourself off, but equally don't expect to achieve a discount on your next house but to sell yours at the asking price. You can't have your cake and eat it. You won't know what valuation you will get until it happens, so deal with it when the valuation comes in and revise your offer if needs be but expect the same to happen down the chain.
Ours has held the same value as the other properties in the area that have recently sold. Fully expect we'll be offered less on ours as well but feel we're priced more accurately to start with (though I'm sure the other owners feel the same!) - who knows! Feels like we're in unknown territory for everyone at the moment
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How many offers have you had and how far under the asking price?
We have the house on at offers over £190k and hope to achieve between 195 and 200k.
one offer of £180 and another of £185k, neither of these would get you a 3 bed semi on the same estate.
The people who offered £185 had a second viewing and are looking at hopefully increasing their offer in the weeks to come.0 -
bikingbarney wrote: »We have the house on at offers over £190k and hope to achieve between 195 and 200k.
one offer of £180 and another of £185k, neither of these would get you a 3 bed semi on the same estate.
The people who offered £185 had a second viewing and are looking at hopefully increasing their offer in the weeks to come.
Squabbling over 10k in this economic climate is madness, take the 180 or 185 and sell the thing!0
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