one will have lost 200K and that, for anyone, would be devastating.
As most of us already know, house prices are still far too high. Just this week, a lady on Joe Duffy programme told of how she had paid more than 200K too much for her apartment while believing that it had been "reduced to sell". Well it had been reduced alright - but not enough! And now she is devastated!
Houses once asking 1 million are now asking 500K - (reduced to sell!) - but should one offer half that again? Because if you paid 500K and discovered that in 12 months time it is only worth 300K, one will have lost 200K and that, for anyone, would be devastating.
So what kind of reduction should one seek when making an offer?
As most of us already know, house prices are still far too high. Just this week, a lady on Joe Duffy programme told of how she had paid more than 200K too much for her apartment while believing that it had been "reduced to sell". Well it had been reduced alright - but not enough! And now she is devastated!
Houses once asking 1 million are now asking 500K - (reduced to sell!) - but should one offer half that again? Because if you paid 500K and discovered that in 12 months time it is only worth 300K, one will have lost 200K and that, for anyone, would be devastating.
So what kind of reduction should one seek when making an offer?
Not true plant 43. Not true at all! Would you equally argue that if you paid 40K for a 25K car, you'd have lost nothing until you sold it?
Using that logic, if you intend to remain in the house forever, it shouldn't matter to you what you paid.
Come on!
Offering 45% below asking would be making a fool of yourself as I doubt you would be entertained as well.
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