Making an offer on a house - strategy

Bluemanc100

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26 Mar 2011
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Exiled in Hawarden
Just don't do what two people have done to my sons so far... Pull out at the last minute... The first after Covid delays to completion when the woman decided she didn't want a flat after all and wanted a garden.. the second only last week who's employer was fucking about with her replacement (she was relocating from Warrington to Stafford) hence the flat purchase....

We've now been forced to hatch a plan including selling our motorhome and going in with our youngest lad's in-laws to buy the flat ourselves to keep his chain going or he'll lose the house he wants (which has fallen through once also by the way)

The sooner they change the rules here to make buying an obligation or at least introduce some penalties for early withdrawal then it will simply carry on...

Boils my piss
 

bluesmith

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9 Dec 2005
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Surely a house is only worth what someone is willing to pay for it?
It can't be as it doesn't get sold unless it meets the sellers value. So it's only worth what the seller will sell it for.
 

bluesmith

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9 Dec 2005
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4,228
Just don't do what two people have done to my sons so far... Pull out at the last minute... The first after Covid delays to completion when the woman decided she didn't want a flat after all and wanted a garden.. the second only last week who's employer was fucking about with her replacement (she was relocating from Warrington to Stafford) hence the flat purchase....

We've now been forced to hatch a plan including selling our motorhome and going in with our youngest lad's in-laws to buy the flat ourselves to keep his chain going or he'll lose the house he wants (which has fallen through once also by the way)

The sooner they change the rules here to make buying an obligation or at least introduce some penalties for early withdrawal then it will simply carry on...

Boils my piss
Buyers should have to put a deposit down which they lose if they pull out. It's commonplace in other parts of the world
 

Tuearts right boot

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Halfway up a mountain,bumfuck nowhere,Snowdonia.
It can't be as it doesn't get sold unless it meets the sellers value. So it's only worth what the seller will sell it for.
....and if the vendor sells it at the price the buyer is willing to pay, that is the value. A seller can be ill informed or not know the market, stick a silly price down and wait. It's only when someone comes along with an offer and dependant upon the seller willing to accept...you have what the item is worth.
I buy and sell old mid ticket priced items as a hobby, I initially put 2 on the market at £295, they didn't move, they do however go for £250, therefore they are worth £250 not matter how much I think they are worth or how much I try to sell them for...The buyer dictates the market 90% of the time.
 

bluesmith

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9 Dec 2005
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4,228
....and if the vendor sells it at the price the buyer is willing to pay, that is the value. A seller can be ill informed or not know the market, stick a silly price down and wait. It's only when someone comes along with an offer and dependant upon the seller willing to accept...you have what the item is worth.
I buy and sell old mid ticket priced items as a hobby, I initially put 2 on the market at £295, they didn't move, they do however go for £250, therefore they are worth £250 not matter how much I think they are worth or how much I try to sell them for...The buyer dictates the market 90% of the time.
You sold them for 250 you decided that was the value so as the seller you choose the value. The buyer does not get to set the Value they only get to offer a value.
 

ctwrd

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A better agent will tell you a realistic price and list it accordingly (including a buffer for negotiation that has somehow become necessary).
A bad agent will list or agree to list at an unrealistically high price which is more likely to end up in renegotiation following survey.
 

trumpton

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27 Aug 2010
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819
The value of the house is what the seller is willing to sell it for, its completely irrelevant what some one is willing to pay as if that not what the seller values it at it will never sell.

Same goes for anything if city value KDB at £250m and 10 clubs bid £100m, he doesn't get sold as his value is £250m. If I walk into a shop and see a 2 grand TV but I think its only worth £1500 I can't buy it as its value is 2 grand the buyers opinion is irrelevant if it doesn't match the Sellers.
The advertised price is a guide to what the seller wants, not what they are willing to accept. It's all irrelevant if the buyers mortgage company disagrees with what the seller values it at, it's what the property is actually worth in their eyes as they are the ones lending the money.

As for your TV example, you can offer £1500. It's the sale of goods act and the rules on offer and acceptance. The £2000 is a guide price, down to the seller to decide to accept any amount they like. You could pay £3000 if you wanted.
 

stonerblue

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23 May 2004
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29,896
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Still alive here....
The advertised price is a guide to what the seller wants, not what they are willing to accept. It's all irrelevant if the buyers mortgage company disagrees with what the seller values it at, it's what the property is actually worth in their eyes as they are the ones lending the money.

As for your TV example, you can offer £1500. It's the sale of goods act and the rules on offer and acceptance. The £2000 is a guide price, down to the seller to decide to accept any amount they like. You could pay £3000 if you wanted.
That trick didn't work last time i bought a telly.
 

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