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Showing results for tags 'negotiating'.
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I’d love some help with this
B2L Newbie posted a topic in General property discussionHi - I’d really appreciate some advice regarding a deal that’s coming to a conclusion soon. I had an offer accepted on the property back in June, when the market felt very very different. The process has been a long one! Since that time, sentiment seems to have changed significantly. Fortunately, I’ve secured a 2.78% 5 year fixed mortgage deal but I’m wondered whether I’m now paying too much and if I should try to get some money taken off the asking price? At the time, the price (£275k) seemed fair. There are nine properties that are identical, with the one of them being sold for £7k more 4 years ago. However that same house was put back on the market and couldn’t sell during the early stages of the pandemic and it’s now sold once more for £15k less than I’m paying. I feel in a bit of a dilemma having watched Rob Ds latest YouTube video with the Zoopla estimate that house prices will fall by 5% next year. The house is in a more expensive area which, from what Rob was saying, May get hit harder. I’d really appreciate any advice and, if you feel I should negotiate further, how to go about it. The vendors have been friendly and, with the use of an online estate agent, I’m having to contact them directly for everything. Many thanks Paul
Advice on negotiating price on new build...
Aliya Khan posted a topic in Newbie Advice & SupportHi, Nervous first time buyer seeking advice please! I viewed a new build flat yesterday and the asking price is £198k for a 2 bed. I think that's really overpriced and have done some further research which seems to confirm this: - In this town the highest price i've seen 2 beds going for is £175k but these are generally in quiet residential areas and with allocated parking (there is no allocated parking in this new block). For the most part, in the nearby area, 2 bed flats are between £130k and £160k - the area currently has a high crime rate and is known as a rough part of town (near the red light district) but classed as up and coming because of its close proximity to the railway station (5 min walk), town centre (10 min walk) and university (15 mins). I have checked the council website and found they are investing money in the area (esp new housing) but it may take a few years to see any real change. The other thing worth knowing is that currently this town is experiencing rapidly rising prices as it's on the commuter line to London and Londoners are raising the stakes with property frequently going for over the asking price. I am not a Londoner and tbh would not stay here except I have family commitments which mean i need to be here for the foreseeable. After a year or two I would want to let the flat out. Based on the area information and general prices for 2 beds in the town I feel the most the developer should really be selling these flats for is £178k at a push. The only reason I think that's a just about acceptable price is because he has developed them to a high quality and all white goods are included, the service charge also looks to be reasonable (65pcm but tbc)+ proximity to the station. i wondered if moneysavers have any thoughts on how feasible it is to negotiate a substantial price drop? It seems like I'd be laughed off if I suggest to the agents that he should drop the price by 20k. What do you think? thanks for reading!