I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

On Wed, 13 Oct 2004 15:00:59 +0100, MM wrote:

I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM


Given the history of getting any offers at all, maybe see if you can
negotiate it up a bit, but otherwise take it.


..andy

To email, substitute .nospam with .gl

Offer for what? Bananas?

MM wrote:
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

the impact of a 10% reduction on your selling price rather depends
on the price of the house. 10% of 250k is a lot different to 10% of
100k but if you are looking at it in percentages and can negotiate
the price up by 5% /and/ get a genuine quick sale I'd go for it.



RT

R Taylor wrote in message ...
MM wrote:
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?
I know 2 people in the process of buying/selling at the moment and all 4
properties are said by the building society surveyors to be 10% overvalued.
Sounds like official company policy.

On Wed, 13 Oct 2004 15:00:59 +0100, MM wrote:

I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

Is it a justifiable 10%? What I'm trying to say is that if your house
is perfect and the asking price is in line with the market then tell
them to get stuffed.

If there's anything that arguably could need doing to the house then
possibly.

sPoNiX

On Wed, 13 Oct 2004 15:00:59 +0100, MM wrote:

I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

If you were a buyer I'd have said try an offer of 20% less.

--
Free stuff by post
http://www.freestuffbypost.co.uk

Can you definitely say that your asking price is not 15% above its current
market value. Only you can decide if the offer price is acceptable to you.
If not hang on for another buyer, one may be a long next week, next month,
next year and who knows prices may go up as the same speed as the flock of
pigs just going over fall into land.

"MM" wrote in message
...
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

IANAL

If you think you'll still be able to afford a house where
you want, I would accept it.

You could make the acceptance of (price-10%) subject
to them exchanging contracts within eight weeks, and
stipulate a higher figure for if things go past eight weeks.

Al

"MM" wrote in message
...
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

A mate of mine recently accepted about 10% less than asking price as the
buyer was effectively a first time buyer and hence no chain. Ended up moving
in less than 6 weeks because of this. He could have waited for more, but
then he could have still been in his house now. Did get the solicitor(s) to
verify his status of first time buyer before accepting though.

In message , sPoNiX
writes
On Wed, 13 Oct 2004 15:00:59 +0100, MM wrote:

I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

Is it a justifiable 10%? What I'm trying to say is that if your house
is perfect and the asking price is in line with the market then tell
them to get stuffed.

ISTR that MM has had problems (for whatever reason) selling this
property. Seeing as he has seemed to keen to get it sold then telling
them to get stuffed, whatever 'the market' may be rash. Assuming it is
enough to get the next house, then from what I gather I would be tempted
to go for the offer, maybe trying to get it upped a bit.
--
Chris French, Leeds

On Wed, 13 Oct 2004 14:06:27 GMT, "R Taylor"
wrote:

MM wrote:
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

the impact of a 10% reduction on your selling price rather depends
on the price of the house. 10% of 250k is a lot different to 10% of
100k but if you are looking at it in percentages and can negotiate
the price up by 5% /and/ get a genuine quick sale I'd go for it.

Asking price is £199,950. First offer yesterday was at £183,000. Final
("absolutely no wriggle room at all") offer is now increased this
afternoon to £185,000. Advice I have received elsewhere says not to
drop below £190K, which would represent a 4.98% reduction.

MM

MM wrote:
On Wed, 13 Oct 2004 14:06:27 GMT, "R Taylor"
wrote:

MM wrote:
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

the impact of a 10% reduction on your selling price rather depends
on the price of the house. 10% of 250k is a lot different to 10% of
100k but if you are looking at it in percentages and can negotiate
the price up by 5% /and/ get a genuine quick sale I'd go for it.

Asking price is £199,950. First offer yesterday was at £183,000. Final
("absolutely no wriggle room at all") offer is now increased this
afternoon to £185,000. Advice I have received elsewhere says not to
drop below £190K, which would represent a 4.98% reduction.

MM

tough one. seems obvious but if you've had plenty of offers, hang on for a
better one but if offers are few and far between take it and be done with it.

what someone said previously about conditionally accepting the offer subject
to completion within a given timeframe seems like a really good idea.

good luck


RT

"MM" wrote in message
news
On Wed, 13 Oct 2004 14:06:27 GMT, "R Taylor"
wrote:

MM wrote:
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

the impact of a 10% reduction on your selling price rather depends
on the price of the house. 10% of 250k is a lot different to 10% of
100k but if you are looking at it in percentages and can negotiate
the price up by 5% /and/ get a genuine quick sale I'd go for it.

Asking price is £199,950. First offer yesterday was at £183,000. Final
("absolutely no wriggle room at all") offer is now increased this
afternoon to £185,000. Advice I have received elsewhere says not to
drop below £190K, which would represent a 4.98% reduction.


Well thats only a 7.5% drop then, which seems a bit more reasonable.

In message , R Taylor
writes

what someone said previously about conditionally accepting the offer subject
to completion within a given timeframe seems like a really good idea.

Seeing as acceptance of an offer isn't binding on either party anyway,
I'm not sure what this would achieve. Assuming you did ask for such a
condition, and then the buyers didn't achieve this for some reason then
what - are you going o tell them where to go if you don't have another
buyer?
--
Chris French, Leeds

mogga wrote in message . ..
On Wed, 13 Oct 2004 15:00:59 +0100, MM wrote:

I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

If you were a buyer I'd have said try an offer of 20% less.

http://groups.google.com/groups?hl=e...oup%3Duk.d-i-y

If it was like this house, I'd say take it!

"chris French" wrote:
R Taylor writes

what someone said previously about conditionally accepting the offer
subject
to completion within a given timeframe seems like a really good idea.

Seeing as acceptance of an offer isn't binding on either party anyway, I'm
not sure what this would achieve. Assuming you did ask for such a
condition, and then the buyers didn't achieve this for some reason then
what - are you going o tell them where to go if you don't have another
buyer?

Once people get into the process of buying a house, they start to commit
to it both emotionally (e.g. planning where furniture will go etc.) and
financially (e.g. paying for surveys, searches etc.). Once they get eight
weeks in they are more likely to hurry their estate agent/solicitor up and
get it all sorted rather than throw the towel in. This is even more likely
if they have a buyer for their own property who also wants to get to
exchange ASAP.

It won't work as well (a) if prices are stable or falling (b) if there are
lots
of similar properties available or (c) if the surveys/searches etc. are
throwing up unexpected nasties. i.e. if it is a buyer's market or if the
house isn't all it seems or exactly what the buyer wants.

There's nothing to stop you agreeing to let them have it at the original
offer price even after the eight weeks. Let's just hope they don't have
usenet - they'll be reading MM's mind otherwise! There's a thought -
you could vet potential buyers or sellers by their usenet postings!

Al

On Wed, 13 Oct 2004 21:03:59 +0100, "Al Reynolds"
wrote:

"chris French" wrote:
R Taylor writes

what someone said previously about conditionally accepting the offer
subject
to completion within a given timeframe seems like a really good idea.

Seeing as acceptance of an offer isn't binding on either party anyway, I'm
not sure what this would achieve. Assuming you did ask for such a
condition, and then the buyers didn't achieve this for some reason then
what - are you going o tell them where to go if you don't have another
buyer?

Once people get into the process of buying a house, they start to commit
to it both emotionally (e.g. planning where furniture will go etc.) and
financially (e.g. paying for surveys, searches etc.). Once they get eight
weeks in they are more likely to hurry their estate agent/solicitor up and
get it all sorted rather than throw the towel in. This is even more likely
if they have a buyer for their own property who also wants to get to
exchange ASAP.

It won't work as well (a) if prices are stable or falling (b) if there are
lots
of similar properties available or (c) if the surveys/searches etc. are
throwing up unexpected nasties. i.e. if it is a buyer's market or if the
house isn't all it seems or exactly what the buyer wants.

There's nothing to stop you agreeing to let them have it at the original
offer price even after the eight weeks. Let's just hope they don't have
usenet - they'll be reading MM's mind otherwise! There's a thought -
you could vet potential buyers or sellers by their usenet postings!

It's a risk I'll have to take! And where else will I obtain such
admirable and useful advice for peanuts?

MM

On Wed, 13 Oct 2004 21:03:59 +0100, "Al Reynolds"
wrote:

"chris French" wrote:
R Taylor writes

what someone said previously about conditionally accepting the offer
subject
to completion within a given timeframe seems like a really good idea.

Seeing as acceptance of an offer isn't binding on either party anyway, I'm
not sure what this would achieve. Assuming you did ask for such a
condition, and then the buyers didn't achieve this for some reason then
what - are you going o tell them where to go if you don't have another
buyer?

Once people get into the process of buying a house, they start to commit
to it both emotionally (e.g. planning where furniture will go etc.) and
financially (e.g. paying for surveys, searches etc.). Once they get eight
weeks in they are more likely to hurry their estate agent/solicitor up and
get it all sorted rather than throw the towel in. This is even more likely
if they have a buyer for their own property who also wants to get to
exchange ASAP.

It won't work as well (a) if prices are stable or falling (b) if there are
lots
of similar properties available or (c) if the surveys/searches etc. are
throwing up unexpected nasties. i.e. if it is a buyer's market or if the
house isn't all it seems or exactly what the buyer wants.

There's nothing to stop you agreeing to let them have it at the original
offer price even after the eight weeks. Let's just hope they don't have
usenet - they'll be reading MM's mind otherwise! There's a thought -
you could vet potential buyers or sellers by their usenet postings!

By the way, I forgot to mention that earlier today I used a mortgage
ready reckoner on the net (it just happened to be Britannia Bldg Soc)
to see what effect another five or ten grand would have on repayments.
Well, over 25 years it's hardly worth bothering about. Just a few more
tins of Smartprice baked beans a month instead of caviare, sorted!

These were the figures:

Standard repayment mortgage over 25 years at 6.75% interest:
Borrow £110,000 = £760/month

Borrow £100,000 = £690/month

Borrow £90,000 - £621/month

Obviously these are very much ballpark figures and take no account of
changing market conditions. (Goodness! I'm beginning to sound like an
Indipendant Fynahnschual Adwiser!)

MM

On 13 Oct 2004 12:44:27 -0700, (Conrad Edwards)
wrote:

mogga wrote in message . ..
On Wed, 13 Oct 2004 15:00:59 +0100, MM wrote:

I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

If you were a buyer I'd have said try an offer of 20% less.

http://groups.google.com/groups?hl=e...oup%3Duk.d-i-y

If it was like this house, I'd say take it!

We have spiders in our house big enough to eat huge clusters of
spiders. Unless the cats eat all the spiders. Or is it supposed to be
old ladies?

--
Free stuff by post
http://www.freestuffbypost.co.uk

"MM" wrote in message
...
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

FWIW ... walking past the local (South Coast) Estate Agent's
I observed that of twenty-four 'houses' advertised on display
boards in the window ... eleven bore little red corner-flags
saying 'just reduced' . Make of that what you will.

--

Brian

mogga wrote:
On 13 Oct 2004 12:44:27 -0700, (Conrad Edwards)
wrote:

mogga wrote in message
. ..
On Wed, 13 Oct 2004 15:00:59 +0100, MM wrote:

I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

If you were a buyer I'd have said try an offer of 20% less.


http://groups.google.com/groups?hl=e...oup%3Duk.d-i-y

If it was like this house, I'd say take it!

We have spiders in our house big enough to eat huge clusters of
spiders. Unless the cats eat all the spiders. Or is it supposed to be
old ladies?

what you need is a few cows in the loft to get rid of the
spider eating old women.




RT

I believe last months figures were that the average SP was 90% of the
listing price in the London area.

Regards
Capitol

In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.
--
Chris French, Leeds

chris French wrote:
In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

alternatively:

people expect an average of 6% more than their house is worth ?

or estate agents upsell by an average of 6% just to get the contract ?

mind you, sarah beeney could tell me the grass is blue and I'd go
all doe eyed and believe her without looking out teh window :-)




RT

In message , R Taylor
writes
chris French wrote:
In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

alternatively:

people expect an average of 6% more than their house is worth ?

or estate agents upsell by an average of 6% just to get the contract ?


They aren't alternatives, they may be explanations though. mostly I
guess that houses are priced with the expectation that they will sell
for a bit less.


--
Chris French, Leeds

In message , chris French
writes
In message , R Taylor
writes
chris French wrote:
In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

alternatively:

people expect an average of 6% more than their house is worth ?

or estate agents upsell by an average of 6% just to get the contract ?


They aren't alternatives, they may be explanations though. mostly I
guess that houses are priced with the expectation that they will sell
for a bit less.



And lets not forget that 10% below average asking price was only £5,000
not "so" long ago.

I remember selling a house in 1999, (I bought it in 1992 for £110,000
when it was asking £125,000). My asking price was £180,000, and I got an
offer of £170,000 - I snapped their hand off!! (Same house is now around
£350,000.

--
Richard Faulkner

I'd be temped to accept the offer and shuffle the sale through quickly
so they don't have a chance to change their mind cos we are teetering
on the edge of ... well if not a property crash then certainly a
property sluggishness. In that position it is much better to be a
buyer waiting to pounce when someone is desperate to sell (for
whatever reason) than to be a seller.

Be prepared to sit in rented accommodation for six months if your
circumstances permit

Anna

~~ Anna Kettle, Suffolk, England
|""""| ~ Lime plaster repairs
/ ^^ \ // Freehand modelling in lime: overmantels, pargeting etc
|____| www.kettlenet.co.uk 01359 230642

On Thu, 14 Oct 2004 00:29:17 +0100, chris French
wrote:

In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

Which would put my property firmly in the £190K ballpark, not £185K.
Also, the poperty has already been reduced in price twice. I am not in
the business of giving it away. If people come and view a property on
at £199,950, then they do, in my view, need to have a pretty good idea
beforehand what they can actually afford. I could view houses at
£300K, believing that "somehow" I would be able to find the cash. One
has to be realistic. If they don't bite, someone else will. My niece
took 15 months to sell her property in a different part of the country
(shires not flat caps).

MM

"MM" wrote in message
...
On Thu, 14 Oct 2004 00:29:17 +0100, chris French
wrote:

In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

Which would put my property firmly in the £190K ballpark, not £185K.
Also, the poperty has already been reduced in price twice. I am not in
the business of giving it away. If people come and view a property on
at £199,950, then they do, in my view, need to have a pretty good idea
beforehand what they can actually afford. I could view houses at
£300K, believing that "somehow" I would be able to find the cash. One
has to be realistic. If they don't bite, someone else will. My niece
took 15 months to sell her property in a different part of the country
(shires not flat caps).

MM

Given your previous postings on this issue, I reckon you should take the
offer and get on with finding the house that YOU want to buy.

We could talk about market prices, inflation during the time you have been
on the market and all that crap but I get a very strong impression through
all this that the original price was, for whatever reasons a bit
optimistic. This then gives you a strong impression that you're not getting
what it is actually worth. At the end of the day I would expect you are
still making a fairly healthy profit.

Move on.

best regards and good luck with the sale, one way or the other.

David

"MM" wrote:

chris French wrote:
sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

Which would put my property firmly in the £190K ballpark, not £185K.
Also, the poperty has already been reduced in price twice. I am not in
the business of giving it away. If people come and view a property on
at £199,950, then they do, in my view, need to have a pretty good idea
beforehand what they can actually afford. I could view houses at
£300K, believing that "somehow" I would be able to find the cash. One
has to be realistic. If they don't bite, someone else will. My niece
took 15 months to sell her property in a different part of the country

Then "David" wrote:
We could talk about market prices, inflation during the time you have been
on the market and all that crap

Indeed.

In the end, the market value of a property is exactly what the
highest bidder is prepared to offer at any particular time. At the
moment, the market value of your property appears to be £185k.

Look at it this way: Currently you are being offered £185k.
Let's say it does take 15 months to sell your property at £200k.
This is equivalent to a price rise of 1.6% per quarter, or 6.4%
per year. You might well be pleased with the extra £15k you
have managed to squeeze out of a buyer, but if the house prices
in the area you are looking at go up by more than 8% in those
fifteen months you're just screwing yourself.

You have to make the call on whether you accept the offer, but
just be aware that if you still haven't sold in six months time you
may regret it - especially if prices are rising in the area you want
to move to.

Al

Is it not a legal obligation for estate agents to confirm every offer
received by writing to the vendor? I have not received any such
written confirmation yet.

MM

On Thu, 14 Oct 2004 11:20:26 +0100, "Al Reynolds"
wrote:

"MM" wrote:

chris French wrote:
sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

Which would put my property firmly in the £190K ballpark, not £185K.
Also, the poperty has already been reduced in price twice. I am not in
the business of giving it away. If people come and view a property on
at £199,950, then they do, in my view, need to have a pretty good idea
beforehand what they can actually afford. I could view houses at
£300K, believing that "somehow" I would be able to find the cash. One
has to be realistic. If they don't bite, someone else will. My niece
took 15 months to sell her property in a different part of the country

Then "David" wrote:
We could talk about market prices, inflation during the time you have been
on the market and all that crap

Indeed.

In the end, the market value of a property is exactly what the
highest bidder is prepared to offer at any particular time. At the
moment, the market value of your property appears to be £185k.

Look at it this way: Currently you are being offered £185k.
Let's say it does take 15 months to sell your property at £200k.
This is equivalent to a price rise of 1.6% per quarter, or 6.4%
per year. You might well be pleased with the extra £15k you
have managed to squeeze out of a buyer, but if the house prices
in the area you are looking at go up by more than 8% in those
fifteen months you're just screwing yourself.

You have to make the call on whether you accept the offer, but
just be aware that if you still haven't sold in six months time you
may regret it - especially if prices are rising in the area you want
to move to.

If anything, the prices are firming up again in my area, but still
falling (somewhat) in my target location. I thought along these lines,
too, and did a quick survey on RightMove of local prices. If anything,
my property is now *under*valued by several percentage points. The
closest to my property locally, pricewise, is a 2-bed terrace on a
very busy main road, or rather ugly flats. Everything else is *at
least* 40K higher because they are not ex-LA properties. If I take my
property off the market over the winter, ten to one I shall be able to
command a higher price come the spring, especially if the MPC doesn't
play silly buggers with the interest rate, which is unlikely in the
run-up to the May election. In fact, I just bought a box of daffodil
bulbs from Tesco and planted them in time for spring! Either I or the
new owner will be greeted by a host of golden daffs to make Wordsworth
proud.

MM

In message , MM
writes
Is it not a legal obligation for estate agents to confirm every offer
received by writing to the vendor? I have not received any such
written confirmation yet.

MM

Yes - "as soon as is reasonably practicable", which is generally
accepted to be on the day the offer is received, unless it is close to
closing time.

I did a course on The Estate Agents Act (New Regulations), just before
they became law, and it was suggested that the main reason for this part
of the law is to make sure that they dont withhold offers from people
they dont want to buy - e.g. they may be selling to a "mate", and other
offers may queer their pitch.

During the last recession, I recall one house where I suggested an
asking price of £50K, and the property went on the market at £60K - it
didnt sell. I was asked back about 9 months later, and suggested an
asking price of £50K, and the property went on the market with a new
agent at £50K - it didnt sell. I was asked back again around 6 months
later, and suggested an asking price of £35K. I got the instruction, and
it sold for £33K.

Given that the market is changing, do you want to take the chance of
getting into this spiral? - I agree that the next house may do the same,
but, given that it will probably happen on both houses, I would always
prefer to be "losing money" in the place where I want to be.



--
Richard Faulkner

In message , MM
writes
On Thu, 14 Oct 2004 00:29:17 +0100, chris French
wrote:

In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

Which would put my property firmly in the £190K ballpark, not £185K.

shrug

Yes but this is an average of course some will sell for maybe even more
than the asking price, so may be less than 90%.

Also, the poperty has already been reduced in price twice. I am not in
the business of giving it away.

No, you are in the business of selling your house, what price you hold
out for depends on a number of factors, but in the end you can only sell
it for what some will pay for it, whatever you consider it's worth.

If people come and view a property on
at £199,950, then they do, in my view, need to have a pretty good idea
beforehand what they can actually afford.

what they can afford and what they want to pay for you house might not
be the same thing..... and anyway, if a buyer knows a house has been on
the market for some time then they are more likely to consider it worth
a punt at a house that is just a bit more than they can afford.

If they don't bite, someone else will.

But when......?
My niece
took 15 months to sell her property in a different part of the country
(shires not flat caps).

I'm not sure that is a recommendation for holding out, unless you are in
a position to be very flexible on your selling. We are going to soon put
our house on the market. We will have a fixed date by which we want to
be moved by (March/April next year) about 150 miles away. ' realistic' -
as they say - pricing is likely because we want to sell as quick as we
can
--
Chris French, Leeds

In message , Richard Faulkner
writes
In message , MM
writes
Is it not a legal obligation for estate agents to confirm every offer
received by writing to the vendor? I have not received any such
written confirmation yet.

MM

Yes - "as soon as is reasonably practicable", which is generally
accepted to be on the day the offer is received, unless it is close to
closing time.

Is it a requirement that it has to be *in writing*, or just that they
must notify the vendor?
--
Chris French, Leeds

"chris French" wrote in message
...
In message , Richard Faulkner
writes
In message , MM
writes
Is it not a legal obligation for estate agents to confirm every offer
received by writing to the vendor? I have not received any such
written confirmation yet.

MM

Yes - "as soon as is reasonably practicable", which is generally accepted
to be on the day the offer is received, unless it is close to closing
time.

Is it a requirement that it has to be *in writing*, or just that they
must notify the vendor?

Often the contract with the agent specifies that by phone is
an acceptable alternative. Depends on the OP's contract.

Al

MM wrote in message . ..

Standard repayment mortgage over 25 years at 6.75% interest:
Borrow £110,000 = £760/month

Borrow £100,000 = £690/month

Borrow £90,000 - £621/month

Obviously these are very much ballpark figures and take no account of
changing market conditions. (Goodness! I'm beginning to sound like an
Indipendant Fynahnschual Adwiser!)

MM

And if you go somewhere with a sensible interest rate you'll pay even less.

MBQ

MM wrote in message . ..
I have now had an offer. It is almost 10% below the asking price.
Given the current market situation, what are your comments?

MM

Find the house you want to buy and offer them 10% below asking and go
from there. What you lose on your sale you may well gain (and some) on
your purchase.

MBQ

In message , chris French
writes
My niece
took 15 months to sell her property in a different part of the country
(shires not flat caps).

I'm not sure that is a recommendation for holding out, unless you are
in a position to be very flexible on your selling. We are going to soon
put our house on the market. We will have a fixed date by which we want
to be moved by (March/April next year) about 150 miles away. '
realistic' - as they say - pricing is likely because we want to sell as
quick as we can

It's actually a bit like saying your granddad smoked 60 a day and lived
to 95.

In addition, if the niece sold her house in the fairly recent past, e.g.
the past 5 years, anybody could ask much more than the current value,
(100% more in some areas), and sell within 15 months.

As they say, past performance is no guarantee of future performance.


--
Richard Faulkner