 As much as I think mc cain is the wrong man to be our next president, I think one of his ideas is very good.? |
| why don't we use the 700 billion from the bailout plan, to buy up all these bad mortgages, and re issue them to the people who lost and are about to lose their homes, at a 5% fixed 30 year ... |
|
 Why am I getting evicted? |
| Okay I recently moved into a small bedroom apartment that is very noisey. My door is located right next to the hallway exit door and every time people leave in and out I hear the SLAM! of the door. E... |
|
 Can i buy a house if i dont have good credit? |
| i would like to buy a house but i dont have money or good credit...but i found a house that is real cheap i would love to try to buy...is it possible and what do i do to try? i do have a job i have ... |
|
 My landlord threatened to sue me for late rent...? |
So there was kind of a bad situation where I didn't have enough money. It turns out I can pay the rent tomorrow, with a $50 late fee, but I want to know if what my landlord said was true.
S... |
|
 I'm not in foreclosure yet but i know I can/t keep up my payments should i volunteer to give up my house? |
| Due to a substansal cut in income i am barely hanging on. 3 years ago my home appraised at 90.000 since then i have put another 10,000 in it and only owe 65,000.Will the loan holder be easier to work ... |
|
 What can my landlord do if i break my lease? |
| My lease says the rent check is to be cashed every Monday (I pay weekly) but the landlord cashed the check on a Friday when the money wasn't in the account, (I get payed Mondays) and it overdrew ... |
|
 Bad debt and Homeownership? |
| Yes Im trying to get pass paying rent, my rent is like paying my landlords mortgage..$1600, but I just can't get pass the debt I have along with rent due Im in the hole $1475, mostly payday ... |
|
 Renters did something without our permission? |
OK, the house payment on our rental is $850, we charge $950 to cover expenses.
We got a call last week that the AC went out so we sent someone to fix it. They just said they had no idea why it ... |
|
 Who customarily pays for a survey of property prior to sale - buyer or seller? |
| There's a possible sale of property from my dad's estate. Property is located in Maine. A potential buyer wants a survey done prior to sale. And he's not committed to purchase - even ... |
|
 HELP I just rented an apartment for a 1 year lease. Now she wants me out??? |
| Now, 3 weeks later, my landlady says she needs her apt back beause of personal reasons. She is telling me my lease isnt valid because i didnt go thru any board association for aproval from the ... |
|
 I need someone to obtain a real estate loan for me and take the advantages/equity, sell back to me in 2 years |
| I am looking to purchase a condo with an interest only loan. a monthly mortgage of $640.00 My credit score is not high enough to obtain the loan right now and the offer wont last long. I was ... |
|
 What do you think of your local Real Estate?? |
| is the market in your area strong/ weak/ buyers market/ sellers market/ ect.ect.... |
|
 My score is 777,my hubsands 750; I am a recent stay at home mom, will the lender use my score w/out income? |
| I quit my job to homeschool in Nov 07 and we found our ideal home and community last weekend; now I am concerned that my credit will not be taken into consideration without having income. The ... |
|
 Can a text message ever be legally binding as giving landlord notice 'in writing' to end a UKtenancy agreement |
Can they say that a 'text' is the same as 'in writing' legally?
Additional Details
It's ok - i am hoping the answer is no as landlord is trying to evict me on ... |
|
| Housing benefit? |
| i am recently separated, and wanting to move out of maritial home, if i rented house of approx 500 would i get help, as i student on 11,000 in bursaries butthat includes childcare, does any1 kow wot ... |
|
 Do you see any violation in this situation? |
I bought a house last year.Seller was my friend and also a mortgage broker . She wanted to sell her house to me with reasonable price. She also wanted to be a mortgage agent on this loan.
So I ... |
|
 Moving into a new house with roommates; how do we decide who gets the bigger master bedroom? |
| I am about to rent a new house with two of my friends. However, one of the bedrooms in the new house is much larger, has its own full bathroom and a door out to the upper deck. How do we decide who ... |
|
|  |
lmwarr21 | Buying a property - should i lower price? |
I have just under a week before i have to sign contracts to purchase a house its in Stanford-le-hope and it was on the market for £155,000 they accepted our offer of £135,000 which we thought was great but now i am getting worried with all this market crash. Should i lower my price or just continue with my purchase. If i lower my price how long will it delay the process for?
Additional Details
My i was only asking! that what this site is all about. I have not signed contracts nothing is legal until signed and no deposit has been paid! Far too many rude people on here. If you cant answer the question without the rudeness dont bother! |
 |
 
DF
 |
You can still legally "gazunder" in England up until you sign the contracts, nothing about your offer is legally binding unless specifically agreed at time of offer being accepted.
It's up to you really, how would you feel inside about doing it? Has the market dropped so that your £135,000 is now overpriced in that area for the property? Is it still a bargain to you?
It won't take much more time if you offer less at the last minute and they accept, just a matter of changing the figures on the paperwork. It is a bit like blackmail though.
Personally I think in most cases it's wrong to gazunder or gazump, Scottish law is fairer, where an accepted offer is legally binding and you lose money if you pull out. |
|
La Vie Boheme
 |
You can't lower it now...your original offer was accepted. |
|
Irish Ed
 |
Hi lmwarr21
I've been in that situation on both sides.
Sorry to say La Vie Boheme is not quite right if you haven't signed contracts you can do what you like.
At the end of the day...what is it worth to you and how far do you think they will drop and still allow you to buy?
Is that worth it for what will be your new home and all the hassle if they don't accept your offer?
How would you react if you were on the receiving end?
Only you know the answer really...this is just some food for thought.
Good luck either way
Irish Ed
|
|
Cool Hal
|
It shows a lack of morals if you do that - you offered a price you were happy with and should stick to it.
If I was the seller - I would say no and keep your deposit.
You will not lose any money until you sell your house - and they will go up again. |
|
Becky M
|
Think of what you would lose if they then say no and take it off sale...solicitors fees, cost of survey etc etc, can you really afford to lose all that money?
If they have accepted £20k under the asking price you should be grateful and may well be relying on that money to buy their new home. The housing market may not be great for a while but unless you are planning to sell again quite quickly, it will steady in price eventually and hopefully go up one the economy starts to recover. |
|
James Mack
|
Personally lowering the price again after getting a substantial price drop is in my book really bad form! Consider how you would feel if you were the seller and the buyer holds a gun to your head.
If you really feel you need to lower the price again, I would advise walking away and finding another property. |
|
WelshLad
|
The chances are if you offer a lower price with less than a week to go, the seller could pull out altogether. |
|
michelle h
 |
yes you can but its double dubbing the sellers and you do risk losing the house it depends how needy the sellers are but at the end of the day we are in a recession and its everybody for them selves personally i would not be buying a house right now as property prices are still falling if you feel comfortable lowing the price then do it they can only say no |
|
I Buy And Sell Houses
|
I don't know about real estate in England--I'm a Realtor in the United States. However, if you have an agreed-upon contract--accepted by both parties--then you're bound by the price you agreed to. Sure, you can attempt to renegotiate a lower price, but the seller would have to agree to it. You can't simply lower your price after you've agreed to pay a higher amount.
If you attempt to lower your price--if you ask to renegotiate the contract--the seller might simply say "no." Or maybe you can mutually work out a lower number.
As for delaying the process, it depends how close you were to closing on the property.
The real question, though, is how much is the house actually worth? You don't want to overpay, but if it's a good deal, and you're serious about buying, then buy. What you're going through is very common--it's called "buyer's remorse." It's intensified a bit by the market crash, but it's always around. So: Determine the property's value. Ask yourself how much you want the property. Then decide whether you want to proceed with the purchase. Recognize that if you back out you may be subject to loss of deposit and other penalties. |
|
mike
|
Buying a Property is no more an issue Just visit http://www.simple2rent.co.uk |
|
YAHOO
 |
if you haven't sign any aggreement or paper work say that you will pay 135,000. Of course you can lower your price.
Recent news shows that there is a 95% drop in people buying houses, so all the sellers are willing to lower their price. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 25 minutes(s) ago
| | | |
11 | 57 minutes(s) ago
| | | |
11 | 3 hour(s) ago
| | | |
11 | 5 hour(s) ago
| | | |
11 | 10 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
4 | 2 day(s) ago
| | | |
11 | 5 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
11 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
