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Nelly

Well?

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This house we like was on at £186 then dropped to £179500 so we offered 165 they said eff off so we said 170 which they agreed but now they phoned me today and said if we dont complete by 29 March its going to auction

Its a repo btw.

I got out of EA bird that they only get a small percentage when its gone to auction rather then the full 1%

So I said well i might wait for the auction she got desperate and said that things can often go for MORE at auctions which can be true I know,but unlikely init.

The only knowlege of interest I have of other people is 2 alleged offers of 175 but the pair of them couldnt raise the finance (why people offer on a house they cant buy is beyond me) but we are, after all, well over our quota of idiots in this country as we all know.

So stick with the offer and buy it or bin it and go for the auction?

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This house we like was on at £186 then dropped to £179500 so we offered 165 they said eff off so we said 170 which they agreed but now they phoned me today and said if we dont complete by 29 March its going to auction

Its a repo btw.

I got out of EA bird that they only get a small percentage when its gone to auction rather then the full 1%

So I said well i might wait for the auction she got desperate and said that things can often go for MORE at auctions which can be true I know,but unlikely init.

The only knowlege of interest I have of other people is 2 alleged offers of 175 but the pair of them couldnt raise the finance (why people offer on a house they cant buy is beyond me) but we are, after all, well over our quota of idiots in this country as we all know.

So stick with the offer and buy it or bin it and go for the auction?

Go back and offer 169k, based on recent house price figures.

If they don't play ball, tell them to ****** off, and buy somewhere nicer for a cheaper price in 6 months.

Easy...

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This house we like was on at £186 then dropped to £179500 so we offered 165 they said eff off so we said 170 which they agreed but now they phoned me today and said if we dont complete by 29 March its going to auction

Its a repo btw.

I got out of EA bird that they only get a small percentage when its gone to auction rather then the full 1%

So I said well i might wait for the auction she got desperate and said that things can often go for MORE at auctions which can be true I know,but unlikely init.

The only knowlege of interest I have of other people is 2 alleged offers of 175 but the pair of them couldnt raise the finance (why people offer on a house they cant buy is beyond me) but we are, after all, well over our quota of idiots in this country as we all know.

So stick with the offer and buy it or bin it and go for the auction?

How likely is it that you will have the opportunity to buy a comparable property at a similar price in the near future - the higher the likelihood the less the pressure's on you to buy.

Scenario1 You buy at their price. You live in it.

Scenario2 You buy at auction at your offer price - or below. You live in it.

Scenario3 Someone else buys it at auction above your offer. You live elsewhere.

You only really lose in scenario1 - not such a pressured offer after all.

They're trying to get you to increase your offer. Tell them it would be cheaper to get a survey done on another house you fancy rather than increase your existing offer - if they still don't like your offer ask them if they'll give you a lift to the auction house on sale day - tell them you'll chip-in for the petrol.

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Mark me down in the F off n' see at ya auction column.

In fact, on refection: I'd say F**K off and don't see me at Auction.

They are obviously using high pressure tactics to get you to raise your offer.

My advice (if you really, really, really need to buy now) is play hardball.

Reduce your offer, below that of your original offer, and see if they do go to auction. Time is on your side, and not theirs.

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If it's been around for a while anyone interested in buying it already knows about it. Auctions are a great way to find the fair market value and the fact that your reading this forum sugests you are well aware that the market is much lower than sellers expectations right now, hence the log jam.

Retract your offer tell em you've found out you can't get finance ( as I'm sure they are dreading that hapening again)

Have someone else bid on your behalf at the auction so they don't shill bid it up to your current offer in the knowledge you are willing to pay that much.

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The guide price at auction will be a lot lower than the pre auction price. Any offer prior to an auction has to be higher than normal, you pay for taking it early and the risk involved in pricing a month in advance. 4 months of declinig house prices means the risk is of it falling further.

Same as everyone else says

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Go to the auction! But if you have never been to the auction house before get somebody with experience to bid for you.

Auctioneers can smell the first-timer right away and will squeeze the last drop from your wallet during the bid game. Remember, they also get the % of the sale.

Edited by refusnik

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  • 293 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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