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Thanks guys, we've offer our max, which is still a fair price and isn't more than it's with in my opinion. We can't offer more because we simply can't get the funds due to Andrea's salary carrying little weight whilst she's on mat leave. We're going to have to move into rented now, or risk losing our buyers.  [MH] |
House negotiating advice • Page 3
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Mike_Hunt 23,524 posts
Seen 2 years ago
Registered 19 years ago -
Densil 322 posts
Seen 10 years ago
Registered 15 years agoMike_Hunt wrote:We're going to have to move into rented now, or risk losing our buyers.
This is not a bad situation to be in to be honest, ok you'll lose a few K in rent (but you'd have been paying a mortgage anyway so not really) and it gives you the chance to find the best house without the stress of being in a chain.
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Agreed. We did the same thing (sold, moved into rented, cash in pocket ready to buy when the right property came along). To be honest, apart from the hassle and expense of moving, it's probably the best thing because you will be chain-free buyers who can afford to sit and wait for prices to fall further (which they look likely to do). -
Ooh ooh in other news we just exchanged! Yay /won't be homeless -
mrpon 37,367 posts
Seen 2 days ago
Registered 15 years ago\o/ Congrats. -
Congrats seems like the wrong thing to say to someone who's just spent such an outrageous amount of money but thanks, I think. 
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mrpon 37,367 posts
Seen 2 days ago
Registered 15 years agoCommiserations? 
I'm happy to never speak to an estate agent again to be honest. -
Yeah, I kind of feel as if I'm chaining myself to the oars again. Oh well. Twenty years and it will be paid off. I'll only be a mere 61. 
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Salaman 24,162 posts
Seen 2 weeks ago
Registered 17 years agootto wrote:
Yeah, I kind of feel as if I'm chaining myself to the oars again.
Oh hark at the poor Eurocrat..gif)
Congrats on the new place. -
Mike_Hunt 23,524 posts
Seen 2 years ago
Registered 19 years agoWell it appears our new offer is being considered and we should have a response by monday (it's complicated by the fact it's owned by a pension fund and all three trustees must agree to sell). They appear reluctant to take any offers, but are considering ours because of our good position. They've also increased the price of the property on the web by £25k to give them room to negotiate should a similar situation arise again.
We will see. Either way, we're going to pay what we can afford and that's it. There's no way we can increase our previous offer.
Anyway, congrats otto! Enjoy your new home.
[MH] -
Mike_Hunt 23,524 posts
Seen 2 years ago
Registered 19 years agoSOLD! To the man with the dodgy username!
It took some wrangling but in the end we managed to get it in the end. It was the most we wanted to pay, but given that they were after another £25-50k more I think we did ok.
Phew!
[MH] -
chopsen 21,958 posts
Seen 37 seconds ago
Registered 16 years agoWell done! Got the house you wanted and got the price you could afford.
I hate selling and buying houses because of all this fannying about. There must be a better way... -
Ah, brilliant! Well done you! That's very good news. Just goes to show, he was taking the piss, and you weren't, in those situations the person not taking the piss usually wins!
Today I transferred my entire life's savings to a lawyer, so she could add it to a shitload of money I've borrowed off a bank and give it to some strangers in return for a pile of bricks and a key which she'll give me on Friday. Yay! -
Dougs 100,415 posts
Seen 10 hours ago
Registered 18 years ago\o/ Good news all round, well done Mike and otto. -
mrpon 37,367 posts
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Registered 15 years agoGood work Mike. -
RichDC 9,177 posts
Seen 4 days ago
Registered 17 years agoHeh, I said I'd be bumping this thread soon. In the current market how much should I realistically be able to negotiate down? I've spoken to friends/family and they all reckon about 10% is the average. My broker reckons I should easily be able to afford £180k so I guess that means I should be looking at the £200k mark? Am I kidding myself, or do sellers always mark prices up well in the knowledge that they will never sell for that? -
mrpon 37,367 posts
Seen 2 days ago
Registered 15 years agoCan't speak for everyone, but yes I've sold properties for less than my asking price and yes I've set my asking price higher than what I actually wanted to get. If only everyone would follow this unwritten rule
Percentages vary across the board dependent on lots of factors, how long its been on the market is a good one.
Good luck. -
oldskooldeano 3,496 posts
Seen 21 minutes ago
Registered 18 years agoHaving been a buyer and a seller, and putting my own house on the market in the next week or so, I can tell you my own experiences.
As a seller I set my price at the upper end of the what the estate agents say I can get for it. I don't overprice it, but obviously I want as much as I can get, or more importantly, what the market says it is worth. So a buyer comes in with a a low offer, and 10% less than the asking price is in my opinion massively low. I'd tell that buyer to go away and think again. In fact, I'd say be realistic or go somewhere else.
As a buyer I think you need to heed what other people have said in this thread before. Buying a property is an emotive thing, you are buying a home, somewhere you intend to spend many years of your life, have a family etc. It's hard to put a value on such things and harder to say how to get a 'bargain' on it. If you see something you like, something you really want, then you offer what you can, because properties exist on the market for that moment. Piss off a seller by trying to be clever and you risk not getting that home you want. Having said that, if you are patient and can wait, then another one will always come along, and it may even be better.
Good Luck! -
I've had an offer accepted on a property recently that was 29% lower than the asking price. Since we bought our first house, I've had seven offers on places accepted, all of which were over 10% less than the property was up for.
It's especially like that at the moment. The Estate Agents are trying to keep the prices artificially high, but the property market isnt moving. Case in point, one near me has just gone up for £240k. The house next to it went for £212k last year, and was in better condition. The house two doors down...£206k...only three months ago, and again in better condition. According to the owners they were happy to put up for £215k but the Estage Agent advised them to go much higher as they were confident they could get more and 'you never know. Get an out of towner, or someone that doesn't use the internet to check prices, and you can really rip them'.
So I wouldn't even take 10% as the rule. Essentially you do what Mike_Hunt did above last year. You offer what you think it's worth and no more. (Don't do that first though, obviously). Worth using Zoopla to check what neighbours houses might have sold for recently as well, to give you an idea as to whether you or they are taking the piss. -
RichDC 9,177 posts
Seen 4 days ago
Registered 17 years agoJust made an offer on a place. Very excited! -
Offer accepted! Even more excited now! Though I know there's still potentially a long way to go and lots that go wrong. Still: WOO!!
I'm happy to never speak to an estate agent again to be honest. 
.gif)
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