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trippytinker

E.a. Suggesting Properties Above Our Budget

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We are hoping to sell our current property asking price just under £240K & are looking to buy another property solely financed from the proceeds of the sale which would be approx £ 220 max IF we were to achieve the asking price.

We live in West Wales ( a smallholding) & will be moving into the town so the local E.A's know our circumstances and as I am disabled know we shall not have extra funds available.

In our favour we shall be cash buyers but even so have been surprised to find E.A's sending us details of properties well above (£25-45K) our max price, admittedly these are properties that have been on the market for a while & the majority are chain-free.

Is this being too cheeky? after all we couldn't afford a drop that big.

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We are hoping to sell our current property asking price just under £240K & are looking to buy another property solely financed from the proceeds of the sale which would be approx £ 220 max IF we were to achieve the asking price.

We live in West Wales ( a smallholding) & will be moving into the town so the local E.A's know our circumstances and as I am disabled know we shall not have extra funds available.

In our favour we shall be cash buyers but even so have been surprised to find E.A's sending us details of properties well above (£25-45K) our max price, admittedly these are properties that have been on the market for a while & the majority are chain-free.

Is this being too cheeky? after all we couldn't afford a drop that big.

From a personal point of view, and making a gross generalisation, I would have no qualms offering 70% of asking, and would refuse to pay more than 90%...

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We have always found that whatever price ceiling we give to an EA they always produce a few more out of the draw that are 10-15-20K over that ceiling.

Then as they hand them to you and ask your initial thoughts they often add the comment "we will give you this one - it is a little over the figure you have just quoted .. but they are willing to take an offer/there may be room for manouver in price"

Hence if we are looking or when parents/brother were doing so in past the approach we tend to use is to give a figure that is well below what we really have available because we know they will produce others for us - and by them getting the higher stuff out draw as well - we always then were able to say .... it is a little over our budget .... to help get price down before we start - not that we have always managed it - but thats that.

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after all we couldn't afford a drop that big.

If you are cash buyers and owe nothing on this property why could you not afford to take a hit on this house to buy another at a similar discount its all relative?

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Remember as well that agents also overprice with aview to someone coming in with an offer. Whenever in past 20 years we have sold we have always had to reduce price after a few weeks and then take a few K under that to seal a deal. It is all relative.

What havethey said to you about the price you can realistically achieve versus your asking price

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  • 312 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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