Was off line since yesterday afternoon, didn't really see the information as relevant until reading a few of the responses.

Wheres the polite smiley :D :luvlove:

;)

Close enough, back on my christmas card list:)

Oh no, I said the 'C' word :eek:

11 and a bit weeks to go :luxhello:

Ah - a bloody greedy Capitalist then :wonder:

Better change the local newspaper story.......

"Mystery Fire at Empty Property"

Firemen were perplexed as they were called out to a fire at an empty property late last night. The property, which had been empty for a while, was owned by local business man Fred Greed who was understood to be in financial difficulties. Mr Greed was not available for comment but police were examining clothes found at the water's edge on the beach.


;) ;)

Those were the circumstances i was trying to outline. IMHO (not that it makes a jot of difference this was exactly the right thing to do.

It is the issue with the Scottish systems, the valuation could be much less than you offered but that's your problem and bad advice fromt he legal team.

However, it does in theory stop you getting gazumped which is good. Someone tried to play my mate off for £600 more having accepted his offer on a place near London. Called back saying they'd had an offer of £500 more. He told them where to go if they were that desperate.

The house we just bought was fixed price (the other possibility for a regular sale in Scotland) and these are usually set at the high end of the estate agents forcast. We offered less than the askign price and as i say we were right o do so, the valuation was 5k less than what was being asked so if we'd just paid up we'd have been in the same situation as Andy.

5t.

Kieran and Rev have it spot on for me :thumb:

You make an offer at the time based on all the circumstances and then stick to it. It works both ways when prices are falling and rising knowing in 3 months time when you move house the market value may have changed.

Anyone did that to me i'd also be telling them where to go stick their stupid offer.

Taking a chance is easy when, by your own admission, everything you own can be put into a couple of suicases and packed away in an hour. :Whatever_

For those of us that live in the real world, life isn't that simple!

As been said, IMO its very unfair to string someone along through and change the deal right at the end of it all.

can see both sides to this, I personally dont think there is anything wrong in offering less.

The OP knows the property, knows the location, knows the condition, and knows the market is falling.

If the offer has been accepted for a while and things are moving slowly then the market value will have dropped. Why should the op put himself at risk of being into neg equity just so the current owner can have exactly what they want (which in all likelyhood will be a massive profit from what they bought it for in the first place). I believe if you dont ask, you dont get, maybe I wouldnt pull out of the deal if they wouldnt accept a further reduced offer as I know how hard it is to find a house you like and there is nothing worse than looking again and all the viewings paperwork etc etc.

On the other hand, how would the op feel is somebody else a few days/hours before due completion the seller said they had accepted a better offer and were therefore pulling out.

In all honesty I think only the op can answer his own question, things like how close to the edge will he be financially with a mortgage at the current accepted offer, what kind of difference would it be if the mortgage was 10k less etc

to be fair the house isn't close to being unaffordable as it is, I have been told I can borrow up to £300k :eek: The house is £175, so maybe it was just a bit of greed kicking in, but affordable or not £10k is £10k.

After mulling it over I think I will just keep things as they are, as I would quite like this property and the whole viewing thing does my head in.

:thumb:

Umm, this is what you should be focusing on, not that the bank will lend you 300k :)

I don't agree with gazumping at the last minute, but surely there's nothing wrong with adjusting your offer if the market is tanking, just give them good notice?

In my experience, at the end of the day, you have to look after number one first. It's nice to be nice to people, but if it puts you in a much worse position, then it's wrong.

Gazumping is morally wrong, IMO, because that's pressurising the seller unduly on the day of exchange (or very close to), but adjusting your offer and giving ample notice is completely different.

Remember that 10k is still a lot of money, it's probably more than 5 months after tax work for most people.

Cookie, if you are in a position to walk away without causing you any hardship then, by all means ask for a reduced price. It is only a business transaction at the end of the day.

If you really want this house, then I think you are skating on thin ice asking for a substantial reduction!

Aye i understand everyone has different circumstances and what is right for me is not for someone else.

Unfortunately the world seems real enough to me and i doubt i'll be around in it that much longer (comparatively) so the only way for me to do things is both feet first, seat of my pants not looking back....