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[Viral_Jim]

So, house has been on the market for three weeks today and we have an offer on the table. 

Need to press a bit more as its not enough, but its not daft either... time to get down to brass tacks as my granny used to say. 

[Field Marshal Dr. Opti]

I'm a nosey bastard.

What have the tightwads offered you?

[Field Marshal Dr. Opti]

So, house has been on the market for three weeks today and we have an offer on the table. 

Need to press a bit more as its not enough, but its not daft either... time to get down to brass tacks as my granny used to say. 

I suggest you insist they arrange a survey ASAP once a price is agreed.

It's easy to put an offer in as it costs nothing. Once people realise the next step will cost them money they may 'rethink'.

[Viral_Jim]

I know you are. £40k below asking price, or just over 10% reduction.

TBH I don't think they will hang about. They went all the way down the road on another property only to find a defect in the title that meant it wasn't mortgageable. They have a cash buyer for theirs chomping at the bit.

I predict we will meet in the middle, which I will be happy with. 

[deviator]

Well done to move a house that quick! I think the average (ATM) is about 18 weeks.

On a side note, nitty gritty as a phrase is frowned up on.

ORIGIN 2: one theory is that "nitty-gritty" refers to the debris left in the bottom of a slave ships at the end of a voyage. Hence, use of the term is highly contentious and has been banned by the police.

Linky

Although I'm sure I read something about it being acceptable again now, which obviously I can't find.

[Field Marshal Dr. Opti]

Well done to move a house that quick! I think the average (ATM) is about 18 weeks.

On a side note, nitty gritty as a phrase is frowned up on.

ORIGIN 2: one theory is that "nitty-gritty" refers to the debris left in the bottom of a slave ships at the end of a voyage. Hence, use of the term is highly contentious and has been banned by the police.

Linky

Although I'm sure I read something about it being acceptable again now, which obviously I can't find.

Whatever next?

Removing golliwogs from jam jars. 

[Field Marshal Dr. Opti]

I know you are. £40k below asking price, or just over 10% reduction.

TBH I don't think they will hang about. They went all the way down the road on another property only to find a defect in the title that meant it wasn't mortgageable. They have a cash buyer for theirs chomping at the bit.

I predict we will meet in the middle, which I will be happy with. 

Perhaps.....perhaps not.

My experience of buying and selling houses is that it rarely runs smoothly.

[STEMO]

I know you are. £40k below asking price, or just over 10% reduction.

TBH I don't think they will hang about. They went all the way down the road on another property only to find a defect in the title that meant it wasn't mortgageable. They have a cash buyer for theirs chomping at the bit.

I predict we will meet in the middle, which I will be happy with. 

A 10% under asking price offer is surely just an opening gambit? If you are willing to accept 5% under asking price, they've still got a great deal. If they're 'chomping at the bit', use that to your advantage. Although how much of the actual true situation they are telling you is debatable, you'd be surprised the tricks folk get up to when parting with their cash.

Good luck, mate.

[Field Marshal Dr. Opti]

I suppose it all depends if the original asking price is a true representation of what the house is worth. Estate agents often 'ensnare' sellers by suggesting they initially put the house on the market at an over-inflated price........only to reduce the price when nobody bites.  If it sells for 5% below the real value of the property this could be considered a reasonable offer.

We have no idea where house values are going. Brexit may cause a slump in price, or a price rise. Who knows.

[Mister Rog]

I know you are. £40k below asking price, or just over 10% reduction.

TBH I don't think they will hang about. They went all the way down the road on another property only to find a defect in the title that meant it wasn't mortgageable. They have a cash buyer for theirs chomping at the bit.

I predict we will meet in the middle, which I will be happy with. 

Which is probably what they are expecting.

I hate buying selling houses. I hope to never move again.

[Field Marshal Dr. Opti]

I know you are. £40k below asking price, or just over 10% reduction.

TBH I don't think they will hang about. They went all the way down the road on another property only to find a defect in the title that meant it wasn't mortgageable. They have a cash buyer for theirs chomping at the bit.

I predict we will meet in the middle, which I will be happy with. 

Which is probably what they are expecting.

I hate buying selling houses. I hope to never move again.

....except feet first.

[redelitev6]

I don't envy anyone selling or buying a house , a lot of hassle and stress , good luck with your sale 

[Viral_Jim]

Thanks chaps, I do realise that a) this is only the start of the process and b) that most people turn into pathological liars when it comes to selling houses. 

I suppose it all depends if the original asking price is a true representation of what the house is worth. Estate agents often 'ensnare' sellers by suggesting they initially put the house on the market at an over-inflated price........only to reduce the price when nobody bites.  If it sells for 5% below the real value of the property this could be considered a reasonable offer.

When we went to market with this place, we had a view of what we thought it was worth, trying to be realistic we thought. We then had 5 agents round and got 5 different prices with a spread of nearly £90k  . It transpires they're only good at valuation if one like it close by was sold recently, then they mark up or down based on condition. Hardly rocket surgery  .

In the end we put it on for what we thought it was worth (which was £20k below the top valuation). We then agreed with the agent that we would consider reducing after 2-3 weeks if we got no bites. As it was we got 4 viewings in 3 weeks and we have an offer on which is more than 2 of the 5 agents suggested it went on for.

Its all a game, in the end  .

[Field Marshal Dr. Opti]

Thanks chaps, I do realise that a) this is only the start of the process and b) that most people turn into pathological liars when it comes to selling houses. 

I suppose it all depends if the original asking price is a true representation of what the house is worth. Estate agents often 'ensnare' sellers by suggesting they initially put the house on the market at an over-inflated price........only to reduce the price when nobody bites.  If it sells for 5% below the real value of the property this could be considered a reasonable offer.

When we went to market with this place, we had a view of what we thought it was worth, trying to be realistic we thought. We then had 5 agents round and got 5 different prices with a spread of nearly £90k  . It transpires they're only good at valuation if one like it close by was sold recently, then they mark up or down based on condition. Hardly rocket surgery  .

In the end we put it on for what we thought it was worth (which was £20k below the top valuation). We then agreed with the agent that we would consider reducing after 2-3 weeks if we got no bites. As it was we got 4 viewings in 3 weeks and we have an offer on which is more than 2 of the 5 agents suggested it went on for.

Its all a game, in the end  .

I believe estate agents use the same 'random number  generator' car dealers deploy when arriving at a price for a service.

[Sir Tigger KC]

Buyers are liars as the old saying goes! 

Good luck Jimmy, hope it goes smoothly!