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Would you accept this offer?
19

PointersPlease · 05/08/2022 16:28

Would you accept an offer from a cash buyer 45k under asking price for a 600k-ish house given the interest rate rises to come? Or hold out? The house has been on market for about 6 weeks and its very quiet on the viewings.

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Plumtreebob · 05/08/2022 16:32

It sounds like the house may have been overpriced in the first place to be honest and so I probably would or counter with 575k. Depends how desperate you are to move.

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ThroughThickAndThin01 · 05/08/2022 16:34

Have you counter offered. Maybe meet in the middle. Is the drop affordable.

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seaUrchinOne · 05/08/2022 16:34

Has your estate agent tried to negotiate the price? You could let them sweat it out for a week, if they really dont want to lose your property they will put in a higher price.

After 6 weeks and not many viewings, it's unlikely to get near the asking price however taking 45k under is a bit soon to take that much of a cut.

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inshskj · 05/08/2022 16:35

I'd counter offer first then if thats a no and you're desperate to move and the 45k wont put you out then i would accept

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Twiglets1 · 05/08/2022 16:36

PointersPlease · 05/08/2022 16:28

Would you accept an offer from a cash buyer 45k under asking price for a 600k-ish house given the interest rate rises to come? Or hold out? The house has been on market for about 6 weeks and its very quiet on the viewings.

Have you tried giving a counter offer? So if they have suggested 555k you could say you want a minimum of 575k

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PointersPlease · 05/08/2022 17:30

The offer came in lower and has been negotiated up to 580 max on their side.

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PointersPlease · 05/08/2022 17:31

We are on at 625

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escapingthecity · 05/08/2022 17:31

Our agent tells us that there's always a slowdown in the summer, especially for family homes. Can you relaunch in September?

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Salome61 · 05/08/2022 17:31

Can you see what similar houses in your location have actually sold for in comparison? Land registry does take a few months to update the figures.

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giffyg · 05/08/2022 17:35

I think the fact it's been 6 wks then yes, I can't see prices going up in sept

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takeaflight · 05/08/2022 17:37

Don’t be to concerned on the offer, it’s all about how much it will cost to change, so if you have a purchase in mind, make a reduced offer on that.

less legal fees to pay !

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Twiglets1 · 05/08/2022 19:05

Is it the only offer you have had?

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Chewbecca · 05/08/2022 19:11

Depends on your position and so many other factors - have you found somewhere you want to go to, how much can you drop to get to your next home, how desperate are you to move.

If I was desperate (school deadline, job move, divorce, nightmare neighbours) and could achieve my next goal, absolutely I would drop that much.

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Blossomtoes · 05/08/2022 19:43

It’s less than 10%. Before house prices went completely bonkers that was pretty standard in a normal market, I suspect it’s about to become the norm again.

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WeAreTheHeroes · 05/08/2022 19:54

If you can get what you want to move to with that then I'd accept it. You're only going to markedly increase viewings by dropping the price anyway and having been on the market six weeks already, I wouldn't bank on getting another offer.

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Starseeking · 06/08/2022 00:50

Look at it this way; you're still achieving 92.8% of your asking price, which sounds like it was a bit toppy in the first place. The deal will also be done quickly if it's to a genuine cash buyer. Unless you need every penny of that £625k for your onward move, I'd bite their arm off to accept.

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stevalnamechanger · 06/08/2022 14:32

I'd first try counter , but likely to accept !

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DeadHouseBounce · 06/08/2022 16:40

escapingthecity · 05/08/2022 17:31

Our agent tells us that there's always a slowdown in the summer, especially for family homes. Can you relaunch in September?

Just in time for the next 0.75% rate hike? Take the offer now before it goes down.

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girlmom21 · 06/08/2022 16:43

How desperate are you to sell? Can you afford to lose that much on it?

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