Jump to content
House Price Crash Forum

Recommended Posts

Anecdotal:

Friends recently moved up from a 2 bed to a 4 bed, house was on for £325k so friends offered £275k. They received a letter from the seller saying the house was originally on the market for £340k and didn't friends know that they had spent £50k doing it up, friend replied with the modifications weren't to their taste and would have to be done again anyway! They eventually agreed on a price of £273k.

What annoyed me the most about this is they conveniently forget about how much they have made in the rising market, but have probably been banging on, showing off about how much its worth to family and friends. Also that they never stopped to think that the EA made up the price they so firmly believe is right. Are people so disillusioned or are they blinded by the £ signs in front of their eyes?

I appreciate its different because friends have a house and i don't but this really annoyed me and if i had received such a letter the response would have been much different.

Link to post
Share on other sites
Anecdotal:

Friends recently moved up from a 2 bed to a 4 bed, house was on for £325k so friends offered £275k. They received a letter from the seller saying the house was originally on the market for £340k and didn't friends know that they had spent £50k doing it up, friend replied with the modifications weren't to their taste and would have to be done again anyway! They eventually agreed on a price of £273k.

What annoyed me the most about this is they conveniently forget about how much they have made in the rising market, but have probably been banging on, showing off about how much its worth to family and friends. Also that they never stopped to think that the EA made up the price they so firmly believe is right. Are people so disillusioned or are they blinded by the £ signs in front of their eyes?

I appreciate its different because friends have a house and i don't but this really annoyed me and if i had received such a letter the response would have been much different.

20% off original asking price. not bad for them trading up unless they took a similar hit on their place.

how on earth did they get your friends address ?

Link to post
Share on other sites
Anecdotal:

They received a letter from the seller saying the house was originally on the market for £340k and didn't friends know that they had spent £50k doing it up, friend replied with the modifications weren't to their taste and would have to be done again anyway! They eventually agreed on a price of £273k.

If I was your friend that would be my reply.

"Do you not know that it is different now it is not 2003 and the rates are not 3.5% anymore. Those were the days when it was sellers market. Thanks for confirming the original price which has opened my eyes to see how overpriced your property is therefore I am withdrawing my original offer £275K and replacing with £250K. Please note the offer is on the table just for 7 days."

Every little helps :lol:

Link to post
Share on other sites

Sorry for delay in response.

1. Not sure how they got friends address but i'm pretty sure they didn't give it to them, EA maybe or friends mentioned they lived round the corner.

2. Love that response, especially the.. "Do you not know that it is different now it is not 2003 and the rates are not 3.5% anymore."

3. Its a town called Evesham, its in Worcestershire, West Mids. I say if your going to put in a offer go really really low, at the end of the day you could come up a bit but seeing as the asking price is so offensive i don't see why an offer shouldn't be, might open their eyes to the fact the market and the EA's are all speculators and don't really know what they are doing. If questioned by the seller i'd like to say "do you really believe what an EA says"?

Link to post
Share on other sites
If I was your friend that would be my reply.

"Do you not know that it is different now it is not 2003 and the rates are not 3.5% anymore. Those were the days when it was sellers market. Thanks for confirming the original price which has opened my eyes to see how overpriced your property is therefore I am withdrawing my original offer £275K and replacing with £250K. Please note the offer is on the table just for 7 days."

Every little helps :lol:

Or alternatively:

Why on earth are you even bothering to bore me over why I should pay you more money for your property. Here's my offer, accept it or sell it to someone else.

Link to post
Share on other sites
Sorry for delay in response.

1. Not sure how they got friends address but i'm pretty sure they didn't give it to them, EA maybe or friends mentioned they lived round the corner.

2. Love that response, especially the.. "Do you not know that it is different now it is not 2003 and the rates are not 3.5% anymore."

3. Its a town called Evesham, its in Worcestershire, West Mids. I say if your going to put in a offer go really really low, at the end of the day you could come up a bit but seeing as the asking price is so offensive i don't see why an offer shouldn't be, might open their eyes to the fact the market and the EA's are all speculators and don't really know what they are doing. If questioned by the seller i'd like to say "do you really believe what an EA says"?

I used to live in Worcestershire and found it ridiculously expensive with very poor transport and infrastucture. It almost made London look cheap. Nice scenery and countryside though (especially the Malverns).

Link to post
Share on other sites
Nice result. I put in an offer 20% below asking and was rebuffed, not very politely! House is still for sale,now 50K MORE than it was when I made my offer!!!

ha ha typical stupid seller arrogance reminds me of those mupets on property ladder 2 weeks ago

Link to post
Share on other sites
I used to live in Worcestershire and found it ridiculously expensive with very poor transport and infrastucture. It almost made London look cheap. Nice scenery and countryside though (especially the Malverns).

I have been looking in Worcestershire and I haver to say I have been getting similar responses to my offers even for houses that have been hanging on the market for several years. Family house market seems to be dominated by older quite wealthy couples who have no debts and family has left home but they just sit there refusing to sell until they get an offer at their asking price. To be honest, I get the feeling that most of them really have no intention of selling but just want to see if they can get an inflated price because they heard that one of their friends got a big offer last year and then they add 25% to that.

Still, its good to hear that someone got a good big reduction in that area. Malvern/Evesham is pretty and quite nice places generally but transport is not great I must agree. I think outskirts of Birmingham or even living right in Edgbaston are better - people seem to be more realistic and prices seem to be coming down a bit.

Link to post
Share on other sites
Anecdotal:

Friends recently moved up from a 2 bed to a 4 bed, house was on for £325k so friends offered £275k. They received a letter from the seller saying the house was originally on the market for £340k and didn't friends know that they had spent £50k doing it up, friend replied with the modifications weren't to their taste and would have to be done again anyway! They eventually agreed on a price of £273k.

What annoyed me the most about this is they conveniently forget about how much they have made in the rising market, but have probably been banging on, showing off about how much its worth to family and friends. Also that they never stopped to think that the EA made up the price they so firmly believe is right. Are people so disillusioned or are they blinded by the £ signs in front of their eyes?

I appreciate its different because friends have a house and i don't but this really annoyed me and if i had received such a letter the response would have been much different.

My apologies, should have been £293k they agreed on not £273k. Sorry!

Link to post
Share on other sites

I got a nice discount on the london house I bought. That was last year. I think peeps need to realise that you are always allowed to negotiate. Sometimes they look at you funny im sure, but othertimes they'll be keen to move on and need a buyer fast. I think it helped that I was a FTB and therefore chain free and had the funds in place for a quick sale.

A neighbour recently revealed that their friend had put in the asking price (im not 100% convinved by the story but its nice to think its true and I won out!). The vendor still went with us because they needed to move fast and time was more valuable then money perhaps? I can only speculate.

I think in the OP's case their friend's vendor must also have been very keen to sell, else they would just have waited. My pop was telling me about his friend who was selling - some chap offered way under the asking value for this house. He was insulted and turned it down. Turns out the buyer was actually quite keen and kept coming back with higher offers, but the stubborn vendor refused to sell it to him because of the first insulting offer! He sold it to someone else for a tad under asking price iirc.

I think it all depends on what else is available, if you have a nice house in a top area, someone will always be keen to buy it. Even in a falling market.

Link to post
Share on other sites
I got a nice discount on the london house I bought. That was last year. I think peeps need to realise that you are always allowed to negotiate. Sometimes they look at you funny im sure, but othertimes they'll be keen to move on and need a buyer fast. I think it helped that I was a FTB and therefore chain free and had the funds in place for a quick sale.

A neighbour recently revealed that their friend had put in the asking price (im not 100% convinved by the story but its nice to think its true and I won out!). The vendor still went with us because they needed to move fast and time was more valuable then money perhaps? I can only speculate.

I think in the OP's case their friend's vendor must also have been very keen to sell, else they would just have waited. My pop was telling me about his friend who was selling - some chap offered way under the asking value for this house. He was insulted and turned it down. Turns out the buyer was actually quite keen and kept coming back with higher offers, but the stubborn vendor refused to sell it to him because of the first insulting offer! He sold it to someone else for a tad under asking price iirc.

I think it all depends on what else is available, if you have a nice house in a top area, someone will always be keen to buy it. Even in a falling market.

:lol::lol::lol:

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 440 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.