Straw Poll - Lower house price or not?

[elephantsteaparty]

Hi,

I'll try and keep this short and concise:

Three people in chain, X, Y and Z (my mother). X wanted to move before rise in stamp duty, and since this was not possible the plan was that he would buy Y's house in time and rent it to Y for a month or so. However, this has now fallen through, so Z has been asked to lower the price of her house by 5k to compensate for the fact that X is now having to pay this extra charge.

What would you do? Should she lose out? And do you think if she moves her position once, she might be asked to do so again?

In this situation I'd ignore the historical reasons for the request.

If Z wants to sell her house quickly and is satisfied with price minus 5k then take it. If she wants to hold out for the original amount and thinks that she will get it (taking into account the economic climate, time of year, viewers interest in the property) then say no.

We had to drop 25k before Christmas to get the deal done on my late uncle's house (so we could split the proceeds amongst inheriting family). Some people thoughts this was a lot but having spoken to the estate agents they reckon if we'd not taken it we could still be waiting now and having to drop.

What % is 5k?

Thanks for replying.

It's about 1.5%, so not much in the scheme of things. She had it on the market for about a year, got fed up and took it off, put it back on for a month and got one offer.

I think her main worries are being bullied into lowering the price further if she agrees once, plus my sister bullying her if she accepts a lower figure.

1.5% small price to pay for getting it sold if that is what she wants to do. In the two years we had my uncle's property on the market (smart bungalow in good village) we dropped from 225,000 to accepting 170,000 !

Haggle 2.5 to see, go to 5, no more.

Tell sister that 100% of zero sale is a bad outcome.