Bodyboarder81 Posted February 15, 2017 Share Posted February 15, 2017 Don't know if I missed it but it all depends on how much the value and area it's in . If it's a 600k place and they want 40k more than surrounding places for a few reasons then I'd say that's worth it . If it's like 200k and they want 40k more than others for no reason then hold off ! Bought our place for 260k 4 years ago ... put around about 30k into it , just had it valued at 455k . Which is all well and good if I wanted to go into rented or go to a cheaper area , but for the next step up for us and what we'd want it's like 6-700k !! Everything goes up and down ..... just got to take a gamble sometimes . On our last place i just broke even after 3 years ..... well I made a healthy £500! Hahaha Quote Link to comment Share on other sites More sharing options...
sipar69 Posted February 15, 2017 Share Posted February 15, 2017 (edited) We've just today had to agree to a £2.5k reduction on the selling price for Jane's flat to get her buyer to commit to exchange on Friday. This is on the basis of work apparently flagged in a survey they had done three weeks ago. Funny how they left it to the last minute to mention it. I know some people people would say tell them to get lost, but we've waited a long time to get to this stage. We've made clear that we'll walk if there are any further delays or demands. The whole process has put years on me. I can't wait to be done with it. Edited February 17, 2017 by sipar69 Quote Link to comment Share on other sites More sharing options...
gangzoom Posted February 17, 2017 Share Posted February 17, 2017 We are going back to look at a few points raised by the survey, and may end up having to get a builder in for quotes. Would quite agree part of me just want to ignore the survey points and exchange, but we are not talking about slightly worn tyres on a car purchases, so rather take our time to get the right decision/cost. Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted February 17, 2017 Share Posted February 17, 2017 On our last place i just broke even after 3 years ..... well I made a healthy £500! Hahaha Quite. I worked out over the ten years I owned my last place, including it nearly doubling in value I would have actually been better off renting, putting my deposit in the bank and saving the difference between the mortgage and rent over those 10 years. It makes me wonder what sort of salary do these people have to have to afford to get a mortgage on a £500k or £600k house these days. I feel I earn half decent money atm, but theres no way I could get a mortgage for anywhere near that! Quote Link to comment Share on other sites More sharing options...
TomBorehamUK Posted February 17, 2017 Author Share Posted February 17, 2017 (edited) Don't know if I missed it but it all depends on how much the value and area it's in . If it's a 600k place and they want 40k more than surrounding places for a few reasons then I'd say that's worth it . If it's like 200k and they want 40k more than others for no reason then hold off ! Bought our place for 260k 4 years ago ... put around about 30k into it , just had it valued at 455k . Which is all well and good if I wanted to go into rented or go to a cheaper area , but for the next step up for us and what we'd want it's like 6-700k !! Everything goes up and down ..... just got to take a gamble sometimes . On our last place i just broke even after 3 years ..... well I made a healthy £500! Hahaha It is up for 40% more than two years ago, they purchased for £125,000, it's now up for £175,000 - £50,000 increase! Looking at the previous ads, it has been improved but by no where near warranting that increase (IMO of course) Edited February 17, 2017 by TomBorehamUK Quote Link to comment Share on other sites More sharing options...
Alpinaman Posted February 17, 2017 Share Posted February 17, 2017 (edited) We've just today had to agree to a £2.5k reduction on the selling price for Jane's flat to get her buyer to commit to exchange on Friday. This is on the basis of work apparently flagged in a survey they had done three weeks ago. Funny how they left it to the last minute to mention it. I know some people people would say tell them to get lost, but we've waited a long time to get to this stage. We've made clear that we'll walk if there are any further delays or demands. The whole process has put years on me. I can't wait to be done with it. When we sold our last house and relocated to Derbyshire,the buyer said 6 days before exchange date that there circumstances have changed and they could not raise the full amount now,and they could only proceed if we could drop the house a further £8000.. We had given up jobs and closed a business, there was no way we could back out of the deal.. To say i was furious was an understatement... We agreed,they were very smug about getting one over on us... i did get sweet revenge.....lol.. Edited February 17, 2017 by Alpinaman 1 Quote Link to comment Share on other sites More sharing options...
Strudul Posted February 17, 2017 Share Posted February 17, 2017 i did get sweet revenge.....lol.. Do share... 1 Quote Link to comment Share on other sites More sharing options...
sipar69 Posted February 17, 2017 Share Posted February 17, 2017 (edited) We've just today had to agree to a £2.5k reduction on the selling price for Jane's flat to get her buyer to commit to exchange on Friday. This is on the basis of work apparently flagged in a survey they had done three weeks ago. Funny how they left it to the last minute to mention it. I know some people people would say tell them to get lost, but we've waited a long time to get to this stage. We've made clear that we'll walk if there are any further delays or demands. The whole process has put years on me. I can't wait to be done with it. When we sold our last house and relocated to Derbyshire,the buyer said 6 days before exchange date that there circumstances have changed and they could not raise the full amount now,and they could only proceed if we could drop the house a further £8000.. We had given up jobs and closed a business, there was no way we could back out of the deal.. To say i was furious was an understatement... We agreed,they were very smug about getting one over on us... i did get sweet revenge.....lol.. You have my sympathy! Edited February 17, 2017 by sipar69 1 Quote Link to comment Share on other sites More sharing options...
Alpinaman Posted February 18, 2017 Share Posted February 18, 2017 i did get sweet revenge.....lol.. Do share... Sworn to secrecy................ Quote Link to comment Share on other sites More sharing options...
ilogikal1 Posted February 18, 2017 Share Posted February 18, 2017 i did get sweet revenge.....lol.. Do share... Sworn to secrecy................ Cool story. Feel free not to tell another... 2 Quote Link to comment Share on other sites More sharing options...
Alpinaman Posted February 19, 2017 Share Posted February 19, 2017 🛎🔚 Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 19, 2017 Share Posted February 19, 2017 Well that escalated Quote Link to comment Share on other sites More sharing options...
TomBorehamUK Posted February 26, 2017 Author Share Posted February 26, 2017 (edited) Well we've found another that ticks all the boxes, and the valuation this time seems to be spot on! Will be arranging another viewing then likely to be putting in an offer, it's at top of our chosen price range and the kitchen needs changing aswell as the boiler updating so hopefully we'll be able to negotiate down a little. At my ripe age of 22 I've little experience of house buying negotiations, however through reading the consensus is that a starting point of within 10% lower is fair game (generally) Feel free to chime in if you've got any pointers or experience to share in regards to the negotiation phase! Edited February 26, 2017 by TomBorehamUK Quote Link to comment Share on other sites More sharing options...
Strudul Posted February 26, 2017 Share Posted February 26, 2017 A Zed and a house at 22? Life goals... Quote Link to comment Share on other sites More sharing options...
TomBorehamUK Posted February 26, 2017 Author Share Posted February 26, 2017 A Zed and a house at 22? Life goals... Lol, Just years of being a tight ass and putting away every penny since 18 Quote Link to comment Share on other sites More sharing options...
Strudul Posted February 26, 2017 Share Posted February 26, 2017 Lol, Just years of being a tight ass and putting away every penny since 18 A man after my own heart. However with uni and no income, it doesn't matter how tight I am. Plus I have no idea where or when I want to settle down. Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 26, 2017 Share Posted February 26, 2017 Pay what you think the house is worth. If it's worth the asking price then pay it, I've had a friend recently who put an offer in on a house and lost it for the sake of trying to save a grand. He really really wanted it, too. I paid asking price for mine because I knew it was significantly undervalued, and it was too perfect to risk missing out on. I also achieved asking price for my last property, which was also my buyer's first purchase and they went straight to that value as well because they wanted it and knew it was worth it. I've never understood people who try to get money off everything simply because that's the done thing. Quote Link to comment Share on other sites More sharing options...
ZeppoJeff Posted February 26, 2017 Share Posted February 26, 2017 (edited) . Edited February 27, 2017 by ZeppoJeff Quote Link to comment Share on other sites More sharing options...
TomBorehamUK Posted March 1, 2017 Author Share Posted March 1, 2017 Well we offered 11k below asking initially which they declined, made a final offer of 9k below asking which they've just accepted 4 Quote Link to comment Share on other sites More sharing options...
davey_83 Posted March 1, 2017 Share Posted March 1, 2017 Hopefully everything goes smoothly, congratulations too!! Next up is bank evaluation and property report. Quote Link to comment Share on other sites More sharing options...
TomBorehamUK Posted March 1, 2017 Author Share Posted March 1, 2017 Thanks Yeah the easy parts done now I suppose, fingers crossed it goes fairly smoothly. She's moved out and we're FTB so there's no chain, makes thing simpler. 1 Quote Link to comment Share on other sites More sharing options...
ioneabee Posted March 1, 2017 Share Posted March 1, 2017 providing the banks valuers are ok with your agreed borrowing, you're on the home straight (pun intended) 1 Quote Link to comment Share on other sites More sharing options...
TomBorehamUK Posted March 14, 2017 Author Share Posted March 14, 2017 I hate this waiting game. 1 Quote Link to comment Share on other sites More sharing options...
Ekona Posted March 14, 2017 Share Posted March 14, 2017 Horrible, isn't it? I don't know why it takes so long. 1 Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted March 14, 2017 Share Posted March 14, 2017 I hate this waiting game. What I hate most about buying a house is the constant chasing of the solicitors. Its as if they are next to useless and sit there waiting for you to call them before they actually do anything. 2 Quote Link to comment Share on other sites More sharing options...
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