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What percentage off asking price would you offer?

62 replies

WideWebWitch · 19/08/2007 08:43

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.

OP posts:
1dilemma · 08/09/2007 17:30

Good luck www it is a stressful thing to do!

southutsire · 08/09/2007 22:21

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 · 09/09/2007 22:55

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!

LittleMinx · 09/09/2007 23:14

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

LIZS · 10/09/2007 09:11

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.

Fimbo · 10/09/2007 11:22

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.

1dilemma · 10/09/2007 21:44

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)

1dilemma · 10/09/2007 21:48

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?

aviatrix · 10/09/2007 21:50

This reply has been deleted

Message withdrawn

WideWebWitch · 13/09/2007 20:55

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.

OP posts:
newgirl · 13/09/2007 21:13

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

newgirl · 13/09/2007 21:14

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

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