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Post by oh oooh on Mar 31, 2020 10:53:45 GMT
Yeah, there's never been a better time to buy.
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Post by Deleted on Mar 31, 2020 10:55:18 GMT
Make enemies? You're a cash buyer - they'll treat you like royalty in the current circumstances. Oh they may well make noises about being low but that's what they do. You have
- cash buyer - possibility of no deal brexit - coronavirus and economy.
I used the first two unashamedly.
Anyway, they won't hate you for making a low offer, it's still an offer. They'll love ya.
(Yes the market may well drop but as you say it's in your own interests not to pay rent. Also, if you're looking in the long-term, you won't lose money, far from it.)
In other words, grow a pair.
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Post by Deleted on Mar 31, 2020 10:57:03 GMT
In fact, tell them you like it but you're concerned. The economy, Brexit etc. But despite all that, you'll brave an offer. £80k.
*Edit: you're not likely to do that. I would. Does it help to know that estate agents are the spawn of Satan?
£80k ... £82.5k ... £85k (with something chucked in?) final offer.
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Post by oh oooh on Mar 31, 2020 11:05:02 GMT
I've had very little to do with them, even recently. But they DO like to pester you with phone calls!
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Post by Deleted on Mar 31, 2020 11:10:04 GMT
Did you get to the bottom of the leasehold business, and how much charges were?
In the interests of not getting your hopes up, it could be that they're pitching it low now for some reason and may not take a low offer. How long has it been on the market now?
I still say you've zero to lose in my approach to begin with. The offer stage can be a game of chicken. But make the first move if you're serious. And once price agreed, get the exchange of contracts done *quickly* (ostensibly due to Coronavirus but actually to make sure of the sale).
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Post by Deleted on Mar 31, 2020 11:14:47 GMT
Also, if you're jittery (you seem a bit), call the surveyor, get his feedback over the phone before the final written report (and ask his opinion on value too) and on the basis of that you can start negotiations now (letting the other side know you haven't got the survey report yet). Get it over with if you're not enjoying it.
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Post by oh oooh on Mar 31, 2020 11:14:54 GMT
I honestly doubt they'll take a low offer, like I said, and I'm pretty sure the price is set deliberately low. They first went on the market for 150k or thereabouts, and that was in 2014. This one has been on the market since last October. An identical flat in the same building is going for 105k.
I don't know about charges but I'll ask. This flat is freehold.
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Post by Deleted on Mar 31, 2020 11:20:43 GMT
Oh .. right. That is a drop. I hadn't read that bit.
Because I'd have nothing to lose, I'd still start at £80k but I see what you mean about taking the piss. Talk to the surveyor, explain the price history and get his opinion (his opinion of the flat, any problems, what he thinks the market may do, what you're thinking of doing). Find out about charges if applicable. Then use my arguments with the estate agents.
*And even though it's dropped, they still haven't sold it have they? It's only worth what someone will pay for it. And no-ones been willing to pay for it. You are. They'll take whatever offers they can and pass them on, possibly with your concerns (see above). Go for it.
Ultimately you can only afford what you can only afford. If you don't get that, there'll be others. We're in the fourth house we made an offer on and it's miles better than the other three (well one was ace but the silly bitch fucked that one up by putting a slate roof on a 600 year-old thatched house).
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Post by oh oooh on Mar 31, 2020 11:27:47 GMT
900 quid a year service charge - just heard from another owner
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Post by oh oooh on Mar 31, 2020 11:29:34 GMT
and they're getting some work done on the building which will cost between 15 and 20 grand altogether - 2500k each (seven residents at most)
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Post by Cousin Lou on Mar 31, 2020 11:31:07 GMT
I honestly doubt they'll take a low offer, like I said, and I'm pretty sure the price is set deliberately low. They first went on the market for 150k or thereabouts, and that was in 2014. This one has been on the market since last October. An identical flat in the same building is going for 105k. I don't know about charges but I'll ask. This flat is freehold. High and low are fairly subjective. Compared to 105 K 95 is low of course. But how realistic are these values ? If 95 K was a real bargain, the flat wouldn't have been still for sale after 6 months on the market.
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Post by Deleted on Mar 31, 2020 11:31:20 GMT
Check with the estate agents it is that for yours. I know nothing about flats.
You can afford £85k with service charge (whatever it is), council tax, bills etc? Then see my previous post 10 mins ago.
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Post by Deleted on Mar 31, 2020 11:32:51 GMT
and they're getting some work done on the building which will cost between 15 and 20 grand altogether - 2500k each (seven residents at most) Oh definitely use that in negotiations.
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Post by oh oooh on Mar 31, 2020 11:33:24 GMT
Do estate agents tend to just accept your offer initially? they're not going to go 'oof!' or 'could you go a bit higher?' on the phone, are they?
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Post by Cousin Lou on Mar 31, 2020 11:34:01 GMT
and they're getting some work done on the building which will cost between 15 and 20 grand altogether - 2500k each (seven residents at most) Take that on board with your bid and offer 77.5 - you will have to pay the 2.5K.
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