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The pure fact that you think your average London dwelling 30 year old can /should pull £30k out their arse to over pay for a house
Yeah that looks unrealistic but consider that there are two of them and they are after a £600k house. I don't know if Rogan's circumstances are average.
I don't think it's beyond the realms of possibility that the seller might think wait, they could just get the money, right? And then they get the memo from the ea saying the offer is reduced by £30k and they might think, I guess they just don't want the house. Which might mean it goes straight back on the market without a counter or negotiation.
For the record, I don't think they must do it or are expected to do it, just that if they don't look like they could do it or go some way to cover it, they probably won't get the house. Maybe they don't care.
Sorry if that's pompous or me trying to be an oracle.
where do you suggest Rogan rustles it up from
The seller might ask what I did - people who are after a £600k house could be expected to have investments or other savings they could draw on. It's not beyond possibility. But like I said if it turns out that it would result in a shit load of financial stress then they shouldn't do it.
Opening a reply with “to be blunt, fuck off, no” reads like grade A cunt.
Hah, and I was only going for c grade wanker. This was a reaction to the notion of somehow playing 'hardball'. There is no hardball if you don't have anything to give or negotiate with.
Are we having a good time yet?
I've had better mornings. Maybe put me on ignore?
Howard-
I don't want to get into the whole argument about being a cunt thing but I don't agree with your take on this from a property perspective. Sorry if this makes your morning worse. On the plus side, Trump has Covid!
people who are after a £600k house could be expected to have investments or other savings they could draw on.
A £600k house in London these days is just a house. Often not a very fancy one. The fact it costs £600k is symptomatic of a housing market which has failed many people due to lack of supply, speculation and other factors which drive these bonkers prices. Given the bonkers prices, many people are going balls deep financially to buy a small house, something which doesn't seem unreasonable or excessive. Traditionally when buying their first actual house people tend to be going full gas financially already, then will slowly become more financially secure again over time.
There is no hardball if you don't have anything to give or negotiate with.
The 'downvalueing' (or whatever @rogan called it, I don't know what the official term is) presents a fantastic negotiating opportunity! The bank or building society has paid a surveyor to value the house you want to buy, and they're saying it's not worth what you're offering. I can think of few better negotiating opportunities to be honest. One of the wonderful things about this situation is you get to blame someone else. It's not you who wants to low ball them, it's that pesky surveyor. It's a classic negotiating tactic - blaming it on the other.
All that said, I do think these 'downvaluations' are another symptom of a broken system: surveyors tend to be behind the curve on real world values, which is pretty ironic given that's what they're paid to do...
It happens every time there's an escalation in the market, particularly in property hotspots. It was happening a lot when we bought in Clapton in 2012 and since then - when surveyors and buyers and sellers were quibbling over relatively small amounts of money - prices have doubled.
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See if you had just put it like that to start with it might have been better received by all.
Ignoring ignorance, not for me. Ta.
Fox
TM
The pure fact that you think your average London dwelling 30 year old can /should pull £30k out their arse to over pay for a house in times like these says it all. That’s a years salary for a lot of people, it’s more than a years salary for a lot of people. Living in London (or anywhere in the UK that isn’t a complete shithole) with the cost of living involved, where do you suggest Rogan rustles it up from, his wealthy uncle?
Maybe he should take out a loan to cover it? (Not actually permitted by mortgage lenders) Just what everyone that’s about to buy a house needs, some more debt. Or maybe he should setup a gofundme? Would you be chipping in?
Opening a reply with “to be blunt, fuck off, no” reads like grade A cunt.
As suggested above, wind your neck in. Maybe others perceive you to be less the oracle that you’re convinced you are, more some pompous privileged idiot.
Are we having a good time yet?