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aalyas

Gazundering Given Price Drops In London

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Hi All,

Am in the process of buying a small 2 bed flat in suburban Lambeth for buy to let, the survey was done in early July 2014 (when the prices still seemed to be going up), but in the last 3 months prices have been dropping and am concerned I have overpaid. I think I have overpaid by possibly 10K, I am buying it for just under 200K.

What do others regarding me trying to get a lower price ?

Is it worth it for 10K ?

Is there any way of negotiating it ? or is a matter of saying I'm going to walk away to the seller if he doesn't accept my offer ? and potentially losing the sale if he disagrees ?

Thanks...

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This is a wind-up, surely?

No one could actually be so self absorbed could they? On the otherhand, this person is claiming to be a wannabe landlord so it's possible...

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1) If you are trying to make a profit, then why would you buy when prices are falling? You will be making a loss by the end of the month.

2) Do you have any direct comparable propertied at a lower price that you can show the vendor? Don't forget if they are advertised lower, you could have made a lower offer on those asking prices.

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Hi Guys, didn't expect any sympathy here having read the forum responses before, but some useful responses (like the last one) would be great ?

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Hi Guys, didn't expect any sympathy here having read the forum responses before, but some useful responses (like the last one) would be great ?

Landlords, men and women of their word. Not.

That's why I think it's a wind-up. Someone making up a story to plug in to my cognitive bias.

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£10K is quite a lot to lose in the real world but in the world of London property prices it's peanuts. Still by this time next week you might be looking at losing £20K or more......

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Yes if you buy it for 10K less than your original offer then you only stand to lose £30k over the next two years instead of £40k..go for it.

Also, try to buy in as soon as you can so you don't miss out on any of the drops.

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when you do buy it let me know i will pay 45% less than what you paid for it , may as well sell it now before it really does drop in price later anyway

think of the interest you could be earning in the bank

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