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scruffy

Reducing Price After Sale Agreed?

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We had an offer accepted on a house last week. The very same day our offer was accepted, the agent it was on with reduced the price on their website.

What's that all about? (Are they trying to make asking price/sales price ratios look better?) The offer was quite low, just over £30K less than asking.

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We had an offer accepted on a house last week.  The very same day our offer was accepted, the agent it was on with reduced the price on their website.

What's that all about?  (Are they trying to make asking price/sales price ratios look better?)  The offer was quite low, just over £30K less than asking.

"Reverse Awooga"

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CONGRATULATIONS! You spotted the very first 'reverse troll'.

You ought to make a name for it quick.

It opens up a whole new can of worms though. It is hard enough trying to decipher and filter bullsh!t. Now we have to deal with bearsh!t.

From this day forward

Awooga for bulls

Agoowa for bears

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Sorry,, have I missed something?  What's a reverse troll?

It's like a forward troll but in reverse :P

Troll:

A poster of extreme (usually bullish) propoganda. Probably shown to be ludicrously inconsistent over a short space of time and with an apparent lack of middle ground opinions.

It is understood, I think, that posting of this nature is done purely to wind people up and generate a bit of traffic.

The individual concerned is fully aware of how ridiculous their pretend views are.

Recent example of a troll is the famous PG from singing pig (thanks Harroki for sharing some of his gems with us the other week) whos 'going on holiday' coincided with the arrival of housepricecrash.

The guy flipped from trollism to reverse trollism over night.

And now this alledged 'Reducing price after sale agreed'. It certainly smacks of trollism.

It's too damned early for this :)

PS: Our new word is a bit redundant as a troll doesn't necessarily have to be of the bullish variety. We are just having a bit of a laugh.

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"The individual concerned is fully aware of how ridiculous their pretend views are."

Wish it was pretend and ridiculous but actually it's true and we're not happy!

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"The individual concerned is fully aware of how ridiculous their pretend views are."

Wish it was pretend and ridiculous but actually it's true and we're not happy!

Did they reduce the price to what you offered? and not being nosey but what was the asking price/reduction % ?

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Scruffy

There can only be one explanation. The home owner had decided to drop his asking price and someone in the agents office had gone ahead and executed the instructions not realising that an offer had been made in the mean time.

It cannot have anything to do with asking price ratios as you suggested. An agent's first duty is to make money. Gratuitously reducing the nominal sale price in the middle of a transaction would be a very dangerous practice. On seeing a reduction like this, any rational buyer would immediatel reduce his/her offers by a similar amount or more. Others would intepret the reduction as the sign of a trend and pull out altogether.

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Did they reduce the price to what you offered? and not being nosey but what was the asking price/reduction % ?

House was on at £350K, we offered £310K 3 months ago. After all this time, they came back to us and accepted. On day after offer accepted we noticed house is agent's window and rightmove at £340K. Just thought it strange, that's all. Doesn't stop us wanting house (just what we wanted), and we think we've got a fair deal (at the moment! you lot'd probably say otherwise!) but just... strange. Probably coincidence, as you say. (They have said they will take it out of window once paperwork started in earnest.)

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  • 301 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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