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There is a distressed seller that is offloading a lot of properties in the area I want to buy. They are a social landlord - I think a housing association. We are cash buyers for the amounts in question. For various reasons most are not suitable but there are two that I'm interested in (I only want to buy one). There are various problems.

Only one comes up on nethouseprices, selling at £100K - bought for £58K in 2001 and the average in the street is £120K. I want to get the price right down - round about the £75-£80K range but we could easily cover up to about £90K in cash (plus a bit spare) and take the fall in value on the chin. So how should I approach this.

Should it be a low-low offer at £75K and then be prepared to go up quite fast - or will that give the vendor an idea that I can go up fruther than I'm prepared to. Or should I simply raise the price by increments and see where he strikes? Alternatively I can offer just under £85K and go up ever so slightly or not at all.

On the other hand there is the other property that we like. It is a bit pricier, but how should we offer if they don't bite on our other place.

Is there anything that we can offer them to lower the cost - the EAs already know we are cash buyers in rented accomodation.

Or should I wait? The chance to buy low now may mean that waiting out will mean that we can buy something nicer with less cash at a later stage - or am I simply being too greedy with the waiting?

I still think that average prices will come down quite a way - it's just a chance to shortcircuit the process. The aim of this whole STR thing was to be mortgage free by my late thirties - is there a problem in going early?

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Everyones circumstances are differnt, i presonally wont buy now because i now wont settled for a bedsit for my 30K a year.

If i had the cash to buy outright and i could get a nice semi for around 85K and i really liked it i would probably buy now.

Its a trade off between losing money and owning your home. Round my area prices havnt fallen at all so im not in a position to think about it.

I have paid extra to have something deliverd faster to me even though i could of waited a few extra days. The principle is the same except you could be looking at >30K postage.

If you bought in 18 months you would probably get a house a new car and a holiday for your money, but hey if you wait and they sky rocket you could be minus a bedroom.

Oh the pain

I hope that clears it all up for you :lol:

Seriously though you seem to know the score, only you can decide. The blue pill or the red pill hmmmm.

EDITED:

Just realised i havnt even come close to answering ya question. Why not calculate how much YOU think prices will fall over the next 3 years, then take that from the asking price, go in with that offer and dont move very much. A saying on the stock market is.. there will be plenty of other oppotunites to lose your money.

Edited by theChuz
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Why buy now? Even if you can afford it, something bigger and better will be along in another few months. That's the beauty of a falling market for those sitting on the sidelines.

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There is a distressed seller that is offloading a lot of properties in the area I want to buy.  They are a social landlord - I think a housing association.  We are cash buyers for the amounts in question.  For various reasons most are not suitable but there are two that I'm interested in (I only want to buy one).  There are various problems.

Only one comes up on nethouseprices, selling at £100K - bought for £58K in 2001 and the average in the street is £120K.  I want to get the price right down - round about the £75-£80K range but we could easily cover up to about £90K in cash (plus a bit spare) and take the fall in value on the chin.  So how should I approach this. 

Should it be a low-low offer at £75K and then be prepared to go up quite fast - or will that give the vendor an idea that I can go up fruther than I'm prepared to.  Or should I simply raise the price by increments and see where he strikes?  Alternatively I can offer just under £85K and go up ever so slightly or not at all.

On the other hand there is the other property that we like.  It is a bit pricier, but how should we offer if they don't bite on our other place.

My advice is get off this computer, live your life for a year , free from house price thoughts. Log back on late 2006.

Daft? not as daft as buying right now. IMHO of course ;)

Is there anything that we can offer them to lower the cost - the EAs already know we are cash buyers in rented accomodation.

Or should I wait?  The chance to buy low now may mean that waiting out will mean that we can buy something nicer with less cash at a later stage - or am I simply being too greedy with the waiting?

I still think that average prices will come down quite a way - it's just a chance to shortcircuit the process.  The aim of this whole STR thing was to be mortgage free by my late thirties - is there a problem in going early?

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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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