We had an offer accepted on a property in Sheffield, last October. It was initially up at 95k, I think our bid was 104k as we figured that we wanted it & could bargain once we'd got our foot in the door.
(check here http://www.housepricecrash.co.uk/forum/ind...31&hl=sheffield for info on Sheffield/S.Yorks market)
Due to various faffs, big chain, checking planning permission for adjacent development we only got the valuation back just before Xmas (& was at 104k, surprisingly the same as the offer price!).
Anyway, all along our Financial Adviser was optimistic that there wouldn't be a crash & we wouldn't be in negative equity. In fact, he seemed very dismissive.
Due to a faff with the mortgage company needing more & more info from us we haven't even had that approved yet.
To summarise, in the time we've been in the middle of this the market has swung more & more in favour of the buyer, and things have started to change. There also seem to be dark clouds of crashes/price rectification on the horizon, it all seems to depend on your outlook or vested interest.
Help! Should we pull out? Should we offer a lot less?
