How much discount can I go for realistically

[L00b 441]

How do you know it was a barrel and not a mortice lock ?

notice how everybody on here is a expert

A & M locksmiths 0114 2884673

and expects it to be done for free too.

 

I take it the post you're referring me to is in another thread than the present one, then

(the above is your oldest post I could find)

 

Regardless, I'm just ribbing you and I have -I grudgingly confess- quite a bit of admiration for how you stick to your position about the UK property market, in the face of overwhelming odds (if not through statistical reports, then at least on SF). Slightly quixotic, but admirable nonetheless

Edited March 4, 2009 by L00b

[Gethical 10]

We've half excepted an offer for 20% off asking. I am pretty p.off about it [still] and its about a 40% drop from peak.

 

There is a chance we may turn around and say no as nothing has been accepted in stone etc yet. I'm gonna take on more advice before full accepting.

[Tomataheeed 10]

 

O/P - use you comman sense, if you can afford the house (and i dont doubt you for a minute) then offer what the vendors asking for, if its new for sale they will be pricing it realisticly and if its been for sale a while they will have already factored in the price reductions, what they wont be doing is giving their house away just because some people who are neither buying nor selling tell you thats the case.

 

 

No offence saxondale, but that has to be the worst bit of advice I've read here for a while...offer asking price?

[sapbwstudent 10]

Thanks everyone. I had been doing internet research, and I have looked at sites like houseprices.co.uk. It is indeed amazing what is out there on the net. One question I had was how long before a house is sold before it comes up on sites like housprices.co.uk? I did a quick search for sS10, and the latest date on that 22/01/09. Does that mean there has been no sales in S10 after that?

 

Numero Uno, thanks, but I really am not the type who like projects. Ideally I want a house thats all ready.

 

Saxondale, I take your point as well that nobody would want to sell less that what they want. However, do the EAs hike up the asking price because they know that most people think the house prices are going down and so will quote a discount anyway? I found this property which is similar to the one I am looking for which was sold for 467K. I later found that this propert had been advertised for 499K.

[Tomataheeed 10]

Thanks everyone. I had been doing internet research, and I have looked at sites like houseprices.co.uk. It is indeed amazing what is out there on the net. One question I had was how long before a house is sold before it comes up on sites like housprices.co.uk? I did a quick search for sS10, and the latest date on that 22/01/09. Does that mean there has been no sales in S10 after that?

 

Numero Uno, thanks, but I really am not the type who like projects. Ideally I want a house thats all ready.

 

Saxondale, I take your point as well that nobody would want to sell less that what they want. However, do the EAs hike up the asking price because they know that most people think the house prices are going down and so will quote a discount anyway? I found this property which is similar to the one I am looking for which was sold for 467K. I later found that this propert had been advertised for 499K.

 

To be honest, if I were you I'd be looking for a distressed seller. One that has to sell - death, divorce, redundancy. The others will hold on, and don't have to sell at prices they consider too low. I'm one of these to be honest- I was selling a house and have decided to hold onto it and rent it out.

 

FTB with £500k to spend - you'll cut out the chain and buyers should be chasing you to offer a deal. Chains will be a nightmare at the moment, so many must be breaking down due to mortgage approval issues, sudden redundancy etc...offer low, really low. EA is acting for the vendor, but the EA would rather sell it low than not sell at all. They will be trying to persuade the seller that a deal should be done.

[L00b 441]

However, do the EAs hike up the asking price because they know that most people think the house prices are going down and so will quote a discount anyway?

 

Everybody else is at it, so why shouldn't/wouldn't they? It panders to the sellers' wish to maintain their asking prices overinflated and maintains the EA's potential commission if it's based on the sold price. Win-win for them.

 

Observe how many businesses are currently 'updating' their price lists

[Bruno 10]

Not a bad first house for a student lol

[sapbwstudent 10]

Not a bad first house for a student lol

 

 

Just a student of SAP BW, a software. I should have chosen a better forum name!

[jlrowe 10]

Thanks everyone. I had been doing internet research, and I have looked at sites like houseprices.co.uk. It is indeed amazing what is out there on the net. One question I had was how long before a house is sold before it comes up on sites like housprices.co.uk? I did a quick search for sS10, and the latest date on that 22/01/09. Does that mean there has been no sales in S10 after that?

 

Numero Uno, thanks, but I really am not the type who like projects. Ideally I want a house thats all ready.

 

Saxondale, I take your point as well that nobody would want to sell less that what they want. However, do the EAs hike up the asking price because they know that most people think the house prices are going down and so will quote a discount anyway? I found this property which is similar to the one I am looking for which was sold for 467K. I later found that this propert had been advertised for 499K.

 

I'm sure there is a considerable lag, look at the time between sales and that will give you some idea of the lag.

 

An EA will always seek to talk the market and prices up, even at the expense of looking a foolish optimist.

 

I talked to one the other day about a house that (I already knew) had been taken off the market for 6 months because of a lack of interest, he insisted it had been sold. Why? wishful thinking perhaps, but mainly because he would want to try and sell me something else and instill a sense of urgency in my decisions by saying that it was already sold close to asking price.

[saxondale 10]

No offence saxondale, but that has to be the worst bit of advice I've read here for a while...offer asking price?

 

 

 

have you been asleep?

[saxondale 10]

 

Saxondale, I take your point as well that nobody would want to sell less that what they want. However, do the EAs hike up the asking price because they know that most people think the house prices are going down and so will quote a discount anyway? I found this property which is similar to the one I am looking for which was sold for 467K. I later found that this propert had been advertised for 499K.

 

 

 

generally by now, the ones who want to sell have reduced the price (just like we have) there isnt much "meat" left on it.

[Tomataheeed 10]

generally by now, the ones who want to sell have reduced the price (just like we have) there isnt much "meat" left on it.

 

In a sinking market, the seller always thinks there is more meat left on it than the buyer does.