What percentage off asking price would you offer?

[WideWebWitch]

Please. We're thinking of making an offer which is 11.4% less than asking price. Reasonable or not? If they don't accept we'll walk away so it's fine but just wondering what people think is reasonable in this property buying climate. TIA.

[newgirl]

also - i think this is an excellent time to buy as so many people are freaked out by hip/mortgages etc that some are just not entering the market - if you wait til jan, so will lots of other people

[newgirl]

no idea about flooding risk but - prices do tend to go up each year - it is the rate of increase that slows - key areas eg good areas never seem to actually go down (unless it was optimistic pricing in the first place and it was the plan to take a lower offer)

i have had so many friends take ages to decide - a year or so - that they then cant afford the roads and houses they once could

[WideWebWitch]

Hello, just noticed people had posted on thsi thread since I last did. We've backed off, I decided I am worrieda bout flooding (having asked mnetters who pretty much unanimously said they wouldn't buy somewhere that had flooded) and we're going to wait to see what happens with prices etc next year.

[1dilemma]

littleminx I thought those that know about these things (and I don't claim to be one) say interest rates only have to go above 7% for there to be problems
The talk on the radio yesterday was all about how overdue UK is for a property crash remember not everyone is in your position lots of 2 year fixes coming off the boil in the next few months
Big increases in food prices (no doubt soon to be removed form inflation rates)
Gov determined to peg public sector pay rises below inflation.
However I have heard someone else say of it doesn't come in 2007 it aint coming..
There just can't be that many people wanting to pay half a million quid for a 2 bed flat?

[1dilemma]

Not round here LIZS!!
Properties a plenty
That's assuming you fanct spending half a million quid for a 2 bed flat in zone 3!
(my new fave. website is propertysnake I love the bit about having to relist them all because the agents threatened to sue)

[Fimbo]

There is a case today in our local paper where the owners of a grade2 listed property are being prosecuted for having work done on their property when it was flooded as they didn't think they required the appropriate permissions because it was a mop up operation.

That aside - it sounds a gorgeous house and I would re offer but still slightly lower than they want and see what happens.

[LIZS]

Also because of HIPs the amount of new properties coming on has reduced , probably temporarily, but this has created a relative shortage in the meantime.

[LittleMinx]

too many people are buying property at the moment for there to be a house price crash!

when my husband and i moved 18 months ago, we took out a 10yr fixed rate mortgage. loads of people sad we were mad, said rates were going to come crashing down etc etc blah blah, but in the 18 months since we moved, interest rates have actually gone up around 6 times.

at the end of the day, just go with your instinct........ for years people have been saying there will be a property crash but it hasnt happened.

we are selling more houses than ever at the moment to be honest1

[1dilemma]

lol I just knew it would be house price crash!!Although if you want a laugh go to you tube and enter house price crash and watch the kirstie and phil one that comes up!

[southutsire]

www - ask yourself how would you feel if, let's just imagine... house prices went into reverse (as your sellers may now be fearing with all the news on the banks/credit crisis) and you had bought this house? If the answer is, well, a bit peeved BUT delighted to be living in the new house, able to afford the mortgage and with no need to move in the next 10 years... you might be best going for it.
If you would, on the other hand, be wishing you had held out for something nicer, you might be better off holding your nerve.
Are you in a rush to move? Do you think it unlikely that you'll find a house you like as much as this one?
All things to consider...

As well as Property Snake you can always browse this site if your instinct is to wait and you wish to have your nerve steeled .

[1dilemma]

Good luck www it is a stressful thing to do!

[WideWebWitch]

Thanks for these views. I think I was almost talking myself into being cool about this house when I first started the thread as I didn't think we'd get it (and we didn't). But actually I really do love it, it is a gorgeous house.

I;m not botherined about flooding, it's every 10 yrs and they have terracotta floors in ground floor, I#m not bothered about small garden we have no time or inclination to maintain it anyway, not bothered about parking although that's the thing that bothers me the most but where I live doesn't have a parking problem, it's not like Bath or Dartmouth (I've lived in both, nightmare for parking both ofthem)

We had decided that waiting until next year meant

bigger deposit
see what happens with house prices/int rates
longer of not having to pay a big mortgage
rent atm is v low compared to mortgage

MAybe we still should. It's entirely possible it'll still be on if the market goes down...

[1dilemma]

oh PeterDuck houses here sub 500k in q1 2005 now on at 840k (S. London) can you top that? (Mind you not selling at those prices.....)

[LIZS]

and the buts ?

[WideWebWitch]

I love:

Grade 11 listed, lots of history
5 double bedrooms
2 bathrooms, 3 loos
small but low maintenance/well designed garden
walking distance from fantastic schools
in town but not on a road that goes anywhere much so no through traffic
great kitchen
big living space
near town but not enough to be annoying re traffic/noise
I felt at home there
semi but has a six foot thick wall PLUS walkway between us and neighbours so v private
looks lovely from outside
newly wired, plumbed, decorated
could move in and do nothing for years

in short, loads.

[DarthVader]

What do you love about this house, WWW?

[RubySlippers]

also the housing market is always quiet over August
it has been deathly where we are and is just starting to pick up
you may find if you don't love this house, that there is lots more on the market soon
just another thought

[Tinker]

But you don't sound like you love the house. Are you still not bothered by small garden/no parking/poss insurance problems if recently flooded?

[RubySlippers]

do you love it enough to put another offer in?
he wants you so their may be enough room for more negotiation
i really think you know how far you can push yourself bearing in mind there may be another rate rise

[WideWebWitch]

An update, any advice welcome - we offered 14% off asking price, they turned it down but have come back just now and said we can have it if we'll go to 11.5% off asking. It's not that much, it's what I almost put in as a first offer. We had sort of decided to save more cash so we had a bigger deposite, see what happened with prices/interest rates etc. I think he wants us because we're proceedable and they're emigrating, any views?

[WideWebWitch]

We didn't get it but never mind!
We decided our top offer, went to it and he still didn't go for it. It'll be ok, gives us longer to save extra deposit so it's fine.

[WideWebWitch]

Chipping, wtf was I on about?! Ha ha ha!

[tissy]

I just googled "shipping forecast", it was on Wikipedia!

[WendyWeber]

Oh, thanks, tissy - I've been googling for the complete list and couldn't find it anywhere!