tatty Posted October 1, 2008 Share Posted October 1, 2008 Registered on rightmove as a potential buyer this morning and jusy had my first begging call. When I told her my frankly ludicrous house/price requirements there was much sucking of teeth. Until I told her I was about to move in to rented after selling mine at which point she threw out the 'asking prices are irrelevant' line. I'm not going to buy for 12 to 18 months of course but it that time I can wage a one man war on vendors in the area smashing their expectations with brutally low offers. Quote Link to comment Share on other sites More sharing options...
Monopoly Posted October 1, 2008 Share Posted October 1, 2008 We do the same..when ever we see a house we like we put a really low offer in.. Quote Link to comment Share on other sites More sharing options...
red Posted October 1, 2008 Share Posted October 1, 2008 I'd like to do the same but I know my wife would just fall in love with one of those places we viewed and have a massive cob-on of we didn't get it...not a strong bargaining point. Maybe I'll do it alone just to give vendors a reality check - although I think they're slowly getting the message. Quote Link to comment Share on other sites More sharing options...
the primitive Posted October 1, 2008 Share Posted October 1, 2008 have a massive cob-on Is this regional dialect or is your 'wife' from Thailand? Quote Link to comment Share on other sites More sharing options...
Monopoly Posted October 1, 2008 Share Posted October 1, 2008 I'd like to do the same but I know my wife would just fall in love with one of those places we viewed and have a massive cob-on of we didn't get it...not a strong bargaining point.Maybe I'll do it alone just to give vendors a reality check - although I think they're slowly getting the message. Yes I know what you mean...being a woman myself..but to be honest..I only ever saw one house I was sorry about that it went really..the rest was just ok. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted October 1, 2008 Share Posted October 1, 2008 Until I told her I was about to move in to rented after selling mine at which point she threw out the 'asking prices are irrelevant' line. I've been given this line by several estate agents. I always tell them that the asking price is relevant and that I take a ridiculous asking price as a signal that the vendor is in denial and it's not worth trying to negociate with them. High asking prices now are insulting and a waste of everyone's time. Quote Link to comment Share on other sites More sharing options...
sayme Posted October 1, 2008 Share Posted October 1, 2008 Asking prices have been 'irrelevant' for a while now because they are a figment of the agents immagination. If they were relevant we would not be in the mess we are in now. Just for the record, my partner and I have also been doing the same. We view properites (range 600-800k) and make offers at 35-40%. Initially the agents just laughed at us or got annoyed and would not show any more properties. They told us they would put the offer forward because they were legally required to do so but that they would recommend to their client not to accept. However this has changed over the last few weeks. Agents are very keen to please and are seriously putting the offers forward AND trying to persuade the buyers to take the offer. Yesterday one agent even asked if we would take the time to come to their offices and go through some 'interesting' properties with them. He said not to worry about the price tags as there were some real bargains to be had and we could negotiate. I am not ready to buy yet but I am so loving this journey If everyone on this forum did this I am sure we would knock some sense into the agents and the sellers and bring the property market to a sensible level quickly. Quote Link to comment Share on other sites More sharing options...
Austin Allegro Posted October 1, 2008 Share Posted October 1, 2008 I've been given this line by several estate agents. I always tell them that the asking price is relevant and that I take a ridiculous asking price as a signal that the vendor is in denial and it's not worth trying to negociate with them. High asking prices now are insulting and a waste of everyone's time. Good for you, if asking prices are irrelevant then why don't the buggers drop them? Quote Link to comment Share on other sites More sharing options...
covant Posted October 1, 2008 Share Posted October 1, 2008 Asking prices have been 'irrelevant' for a while now because they are a figment of the agents immagination. If they were relevant we would not be in the mess we are in now. Just for the record, my partner and I have also been doing the same. We view properites (range 600-800k) and make offers at 35-40%. Initially the agents just laughed at us or got annoyed and would not show any more properties. They told us they would put the offer forward because they were legally required to do so but that they would recommend to their client not to accept. However this has changed over the last few weeks. Agents are very keen to please and are seriously putting the offers forward AND trying to persuade the buyers to take the offer. Yesterday one agent even asked if we would take the time to come to their offices and go through some 'interesting' properties with them. He said not to worry about the price tags as there were some real bargains to be had and we could negotiate. I am not ready to buy yet but I am so loving this journey If everyone on this forum did this I am sure we would knock some sense into the agents and the sellers and bring the property market to a sensible level quickly. Just tell us again, because I find it hard to believe! You are viewing properties in the 600K-800k range and offer something like 210K to 320K? Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted October 1, 2008 Share Posted October 1, 2008 Just tell us again, because I find it hard to believe! You are viewing properties in the 600K-800k range and offer something like 210K to 320K? Check yourself before you disrespect yourself 35 - 40% off 600k is 390k - 360k. And 35 - 40% off 800k is 520k - 480k Quote Link to comment Share on other sites More sharing options...
Quoth Posted October 1, 2008 Share Posted October 1, 2008 Check yourself before you disrespect yourself 35 - 40% off 600k is 390k - 360k. And 35 - 40% off 800k is 520k - 480k It's all in the wording - if they had said "We view properites (range 600-800k) and make offers at 35-40% OFF" I would agree with you. As it stands e-motion is correct and quite respectable. Q Quote Link to comment Share on other sites More sharing options...
covant Posted October 1, 2008 Share Posted October 1, 2008 Check yourself before you disrespect yourself 35 - 40% off 600k is 390k - 360k. And 35 - 40% off 800k is 520k - 480k sayme did not say 35-40% OFF, but "We view properites (range 600-800k) and make offers at 35-40%." It could of been meant either way, which is why I asked to hear it again. Quote Link to comment Share on other sites More sharing options...
sayme Posted October 1, 2008 Share Posted October 1, 2008 e-motion, I will tell you again if you like but that is seriously what we are doing now. "We offer 35-40% off properties currently being advertised at between 600-800k" There happy now!! Oh and by the way we try to pick on those that have been on the market for a while (and there are many to choose from) are already reduced. This just adds that extra bit of pleasure and hopefully drives home the message. It is no longer a case of the property prices being too high just that the sellers and agents expectations are a fantasy. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 1, 2008 Share Posted October 1, 2008 Asking prices have been 'irrelevant' for a while now because they are a figment of the agents immagination. If they were relevant we would not be in the mess we are in now. Just for the record, my partner and I have also been doing the same. We view properites (range 600-800k) and make offers at 35-40%. Initially the agents just laughed at us or got annoyed and would not show any more properties. They told us they would put the offer forward because they were legally required to do so but that they would recommend to their client not to accept. However this has changed over the last few weeks. Agents are very keen to please and are seriously putting the offers forward AND trying to persuade the buyers to take the offer. Yesterday one agent even asked if we would take the time to come to their offices and go through some 'interesting' properties with them. He said not to worry about the price tags as there were some real bargains to be had and we could negotiate. I am not ready to buy yet but I am so loving this journey If everyone on this forum did this I am sure we would knock some sense into the agents and the sellers and bring the property market to a sensible level quickly. Exactly what I was telling all HPCers over 3 years ago....... http://www.housepricecrash.co.uk/forum/ind...showtopic=12762 Quote Link to comment Share on other sites More sharing options...
Extradry Martini Posted October 1, 2008 Share Posted October 1, 2008 Asking prices are always irrelevant. Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted October 1, 2008 Share Posted October 1, 2008 It's all in the wording - if they had said "We view properites (range 600-800k) and make offers at 35-40% OFF" I would agree with you.As it stands e-motion is correct and quite respectable. Q sayme did not say 35-40% OFF, but "We view properites (range 600-800k) and make offers at 35-40%."It could of been meant either way, which is why I asked to hear it again. e-motion,I will tell you again if you like but that is seriously what we are doing now. "We offer 35-40% off properties currently being advertised at between 600-800k" There happy now!! Oh and by the way we try to pick on those that have been on the market for a while (and there are many to choose from) are already reduced. This just adds that extra bit of pleasure and hopefully drives home the message. It is no longer a case of the property prices being too high just that the sellers and agents expectations are a fantasy. Ha Ha amended Quote Link to comment Share on other sites More sharing options...
Quoth Posted October 1, 2008 Share Posted October 1, 2008 e-motion,I will tell you again if you like but that is seriously what we are doing now. "We offer 35-40% off properties currently being advertised at between 600-800k" Semantics - you've just got to love it! If something is vague, incorrectly spelt or grammatically unsound it is seized, ripped off at the shoulder and then used to beat you to death! Q Quote Link to comment Share on other sites More sharing options...
sayme Posted October 1, 2008 Share Posted October 1, 2008 Ha Ha amended Sorry guy's my mistake. I am trying to do this whilst pretending to work (don't tell my boss please) Quote Link to comment Share on other sites More sharing options...
covant Posted October 1, 2008 Share Posted October 1, 2008 e-motion,I will tell you again if you like but that is seriously what we are doing now. "We offer 35-40% off properties currently being advertised at between 600-800k" There happy now!! Oh and by the way we try to pick on those that have been on the market for a while (and there are many to choose from) are already reduced. This just adds that extra bit of pleasure and hopefully drives home the message. It is no longer a case of the property prices being too high just that the sellers and agents expectations are a fantasy. Thank you. It's clear you meant 35-40% off now. Your doing a great service to the market and I hope to join you in due course. I do think you will get acceptance at that range if you make enough offers. Especially with the financial turmoil at the moment. Some people have become very pessimistic in the last week and if you find one of those people they may well accept. Quote Link to comment Share on other sites More sharing options...
New_Renter Posted October 1, 2008 Share Posted October 1, 2008 i normally go around looking at houses in Milton keynes where sellers are living in a complete dream world, i go on the first viewing and say yeah um yeah its nice etc and arrange a second with the other half then we go abck and look wait a few days. the estate agents call us like mad for an offer and we just say sorry that is far to overpriced i think ill wait till next year when prices have dropped more. lol they dont like it but im some small hope that the seller may thing yeah maybe he is right Quote Link to comment Share on other sites More sharing options...
sayme Posted October 1, 2008 Share Posted October 1, 2008 Thank you. It's clear you meant 35-40% off now. Your doing a great service to the market and I hope to join you in due course.I do think you will get acceptance at that range if you make enough offers. Especially with the financial turmoil at the moment. Some people have become very pessimistic in the last week and if you find one of those people they may well accept. Well if they accept I might buy!! (especially if it is 35-40% OF the asking price instead of 35-40% OFF the asking price) Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted October 1, 2008 Share Posted October 1, 2008 Sorry guy's my mistake. I am trying to do this whilst pretending to work (don't tell my boss please) It's fine I am currently banging my head against a local council policy and procedure brick wall. I will be glad when they eff off back to County Hall to spend another 6 months holding meetings and consulting as to where they want the light switches in various rooms. This goes someway to explaining my strange persona. Quote Link to comment Share on other sites More sharing options...
ccc Posted October 1, 2008 Share Posted October 1, 2008 Asking prices are always pointless. I quite often have debates with those who are firmly in the 'But I want that £xxx for my house I will not accept less' camp. I use the example of my Volkswagen car that is worth about 3k. I tell them I may put it up for sale for 100k. They tell me that is ridiculous. I point out it is no more ridicluous than asking 10k for the car. There is zero chance I will get either. Wanting 10k or 100k - no difference in reality. Usually does the trick. I find taking things to the extreme to make a point works very well with those who are brainwashed. Has a certain way of making things clear. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 1, 2008 Share Posted October 1, 2008 (edited) I find taking things to the extreme to make a point works very well with those who are brainwashed. Has a certain way of making things clear. Nice line ccc -- Like it And SO true.... Edited October 1, 2008 by eric pebble Quote Link to comment Share on other sites More sharing options...
sbn Posted October 1, 2008 Share Posted October 1, 2008 Well if they accept I might buy!! (especially if it is 35-40% OF the asking price instead of 35-40% OFF the asking price) HEY - Love this play on words!! I'll be using this on the greasy estate agent "its on the market for £500,000 sir" "In that case, I'd like to make an offer of 15% ov(mumbled a bit) the asking price" "I shall pass that on to the vendor sir, TBH, I think that there is a good chance of the vendor accepting £425k in the current market sir" "Ah, I'm sorry, you appear to have mis-heard my offer, I will offer 15% of the asking price - £75k is my offer!" Quote Link to comment Share on other sites More sharing options...
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