Jump to content
House Price Crash Forum
Sign in to follow this  
Molly

Dopey Vendor

Recommended Posts

We viewed a property, and yes we were interested, at the right price!, put in an offer of 20% under asking (don't shout at me) I was just testing the water. Anyway got cheesed off, agent said vendor wouldn't budge on price, we felt it was overvalued as it was.

My other half was now getting frustrated with the whole issue with 'WHY DON'T PEOPLE JUST DROP THEIR PRICES' he decided to go and speak to the vendor himself and tell him how it was!!!

He met the bloke at work and basically said to him "do you really want to sell your house, don't you know prices are dropping, we looked up the price you paid for it 2003 in £250K and by our calculations its on for way too much for starters!"

Bloke said (in a west country accent) "didn't pay £250K, paid £275K, £25k back hander! and the Agents are making up that the 'ouse prices are droppin', so we drop our prices, to get them more business, because things are slow for them at the moment. :blink:

I give up!!

Share this post


Link to post
Share on other sites
We viewed a property, and yes we were interested, at the right price!, put in an offer of 20% under asking (don't shout at me) I was just testing the water. Anyway got cheesed off, agent said vendor wouldn't budge on price, we felt it was overvalued as it was.

My other half was now getting frustrated with the whole issue with 'WHY DON'T PEOPLE JUST DROP THEIR PRICES' he decided to go and speak to the vendor himself and tell him how it was!!!

He met the bloke at work and basically said to him "do you really want to sell your house, don't you know prices are dropping, we looked up the price you paid for it 2003 in £250K and by our calculations its on for way too much for starters!"

Bloke said (in a west country accent) "didn't pay £250K, paid £275K, £25k back hander! and the Agents are making up that the 'ouse prices are droppin', so we drop our prices, to get them more business, because things are slow for them at the moment. :blink:

I give up!!

IMO we are at least 6-12 months away from sellers coming to terms with the fact that house price falls are here to stay for the long term. I would say 8-9 out of10 sellers at the moment in my area are not forced sellers and therefore these sort of people are unlikely to accept any more than 5-10% off the asking price.

To get 20% off last years high you need to find one of the following IMO

A) A Repo

B An Owner who is on the verge of repossession but has enough equity that selling at the price in question makes sense.

C) A property where the owner has recently died.

D) An onwer that accepts the market is about to collapes and therefore will be grateful for any reasonable sale.

E An owner whos found their next home and is desperate to sell their own so they dont lose their dream move.

It maybe worth trying to get friendly with some agents in your area and requesting that they only contact you with details involving motivated sellers

Edited by blakey74

Share this post


Link to post
Share on other sites
We viewed a property, and yes we were interested, at the right price!, put in an offer of 20% under asking (don't shout at me) I was just testing the water. Anyway got cheesed off, agent said vendor wouldn't budge on price, we felt it was overvalued as it was.

My other half was now getting frustrated with the whole issue with 'WHY DON'T PEOPLE JUST DROP THEIR PRICES' he decided to go and speak to the vendor himself and tell him how it was!!!

He met the bloke at work and basically said to him "do you really want to sell your house, don't you know prices are dropping, we looked up the price you paid for it 2003 in £250K and by our calculations its on for way too much for starters!"

Bloke said (in a west country accent) "didn't pay £250K, paid £275K, £25k back hander! and the Agents are making up that the 'ouse prices are droppin', so we drop our prices, to get them more business, because things are slow for them at the moment. :blink:

I give up!!

Re your 3rd Para, Can you tell me how he foudn out how much the guys house cost in 2003? I wouldnt mind finding out these sort of detaisl for my own place.

Also, how do you find out the rateable value of your house?

Thanks

Share this post


Link to post
Share on other sites
Re your 3rd Para, Can you tell me how he foudn out how much the guys house cost in 2003? I wouldnt mind finding out these sort of detaisl for my own place.

Also, how do you find out the rateable value of your house?

Thanks

land registry

property spy etc

lots out there just google

Share this post


Link to post
Share on other sites
Re your 3rd Para, Can you tell me how he foudn out how much the guys house cost in 2003? I wouldnt mind finding out these sort of detaisl for my own place.

Also, how do you find out the rateable value of your house?

Thanks

Hi

What I normally do is go onto any House Price data site i.e

www.houseprices.co.uk

then type in the property details,

I then go onto

http://www.nationwide.co.uk/hpi/

and if you enter in the details you can get a rough guide of what it may be worth now.

The thing is as Blakey74 mentions if they don't need to sell, as the chap in my opening post, they wont except low offers.

Share this post


Link to post
Share on other sites
Re your 3rd Para, Can you tell me how he foudn out how much the guys house cost in 2003? I wouldnt mind finding out these sort of detaisl for my own place.

Also, how do you find out the rateable value of your house?

Thanks

also check out www.zoopla.co.uk for an approx valn.

Share this post


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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 401 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.