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House Price Crash Forum

If You Were To Buy A House Now... What % Under The Asking Would You Pay?

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30% for me. Which I did (repo). PP + spend on work is still c15% below asking.

I've only got access to the same trade rates as most, so I'm guessing this house I'm in was c15% overpriced (even if it was in good condition - which it definately wasn't).

When I was looking around last year, I couldn't get anyone to budge more than 10% so I went down the repo route, as banks seemed to be less detatched from the emotional value of what's on their books and take a more pragmatic view of "value".

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Outside London, at least certain areas, where prices fell 20-25% from the 2007 peak. I would be offering 10-20% below the asking price which wouldn't be cheap but would seem like a fair price.

In London however some places seem to be 60 or 70% overpriced from fair value! Not that anyone would be interested in taking my offers....yet!

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