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How To Negotiate The Price When Buying A House

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All the tips required are free on location location.............asking price 500k....kirsty........ we need to secure this go in at the asking price it will be 50k higher in 6 months, maybe a ''cheeky'' offer at 499k.

Edited by crashmonitor

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All the tips required are free on location location.............asking price 500k....kirsty........ we need to secure this go in at the asking price it will be 50k higher in 6 months, maybe a ''cheeky'' offer at 499k.

I still remember the time when they advised some couple who were putting in a sealed bid to offer well over the suggested price to secure the property, as it was their 'dream home' and 'forever house' .. Which they did and duly won the auction, only to find out when the vendor's solicitors accidentally sent them a letter than they had bid massively higher than the next lowest bid :lol::lol:

IIRC they pulled out of the transaction. Don't know what their problem was - they had been happy to offer that much so whether or not they could have got it cheaper is neither here nor there.

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I viewed a cottage back in February. Ideal location commanding a premium asking price (250k, compared to about 180-185k for comparable cottages in a location that's merely very nice).

On viewing, the first thing to hit me was the smell. This was a cottage that needs attention. No way I'd pay a premium price for it, and that's what I told the agent. It was new to the market, so I didn't bother agonising over whether to offer £175k or somesuch.

Wind on to June, and I notice two things. The asking price is down to £240k, and more crucially, similar cottage next door is shown as having sold in March at just over £172k. Aha, a real comparative price point (and why did I never see next-door advertised? :angry: )!

So I 'phoned the agent again, mentioned my viewing and having previously walked away from the price. Pointed out the next-door sale, and asked whether they thought it would be worth trying an offer in that ballpark. They seemed quite keen, in that the response was "you can't tell until you try" as opposed to "stop wasting my time".

That was on a Tuesday. By Friday that cottage was off the market. I guess the agent had told them about the conversation and pointed out that any prospective buyer is going to see that next-door price point featured prominently on Rightmove and Zoopla. Whoops!

[edit] Here's the culprit: http://www.rightmove.co.uk/property-for-sale/property-42934465.html

Edited by porca misèria

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are there really people out in the real world that would sign up for something like this. if there are god help us.

I don't know - some people really are unbelievably clueless, and at least the course is free. (Unless there's a catch?). have even heard of young couples who don't think you are 'allowed' to offer under asking.

Must say I think it'd be good for certain younger buyers to take someone experienced with them when viewing, particularly if it's new build flats - all seductively shiny and 'lifestylish' but usually appalling sq m for the money compared to older in the area, and with nowhere to put anything. I've heard of some who hadn't a clue about service/maintenance charges - EAs are not renowned for pointing such things out if you don't ask - so didn't factor these in.

Never mind the young teacher on TV not so long ago (a HTB case of course) who had no idea that interest rates COULD go up. Let alone probably would in the not too distant.

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House prices double every 7 years so the more you pay, the more you make!

Therefore add at least 10% to the asking price and go upwards from there.

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I don't know - some people really are unbelievably clueless, and at least the course is free. (Unless there's a catch?). have even heard of young couples who don't think you are 'allowed' to offer under asking.

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All the tips required are free on location location.............asking price 500k....kirsty........ we need to secure this go in at the asking price it will be 50k higher in 6 months, maybe a ''cheeky'' offer at 499k.

Yeah, that always made me laugh.

Old Phil was a 'buyers agent' wasnt he?

One watch of Kirsty and Phil should have been enough to put off any prospective customers.

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I still remember the time when they advised some couple who were putting in a sealed bid to offer well over the suggested price to secure the property, as it was their 'dream home' and 'forever house' .. Which they did and duly won the auction, only to find out when the vendor's solicitors accidentally sent them a letter than they had bid massively higher than the next lowest bid :lol::lol:

IIRC they pulled out of the transaction. Don't know what their problem was - they had been happy to offer that much so whether or not they could have got it cheaper is neither here nor there.

I bet that lawyer got sued!

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