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Offers on property

Posted by Terrence-10054058 - Created: 3 years ago
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10 replies (Showing replies: 1 to 10)

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Posted by steverockers-392585 - 3 years ago

Yes, the Euro has gained about 4.5% from its' recent lowest point.  Doesn't sound much but it is 4,,500 Euro  gain when converting to pounds on a 100,000 Euro sale.

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Posted by Terrence-10054058 - 3 years ago

I think it is staying around 136 to the pound, seems ok to me but has dropped a little, Terrence.

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Posted by Terrence-10054058 - 3 years ago

Thanks Terrence

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Posted by clarksinfrance - 3 years ago

One other thing for any seller to consider, if selling and moving to another country, is the exchange rate in force at that time.

We sold 3 years ago, when it was a good € to £, so could take a lower offer, as it gave us what we needed for life back in the UK.

So I guess the point I am trying to make is: There are many variables that can make an offer appealing, even if a large percentage under asking price. And better to receive an offer than none at all.

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Posted by steverockers-392585 - 3 years ago

Putting too high an asking price can be unhelpful.  When people are looking to buy a house, they will usually have a 'ceiling' price.  If your price is above this (although you are prepared to go below it) they will not even consider it. 

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Posted by Terrence-10054058 - 3 years ago

Great, many thanks

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Posted by Terrence-10054058 - 3 years ago

I agree i will do much more work before we move on, its not an investment, just a new life we cant afford to move on down south unless we work 80 hrs a week thats no life Terrence

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Posted by Terrence-10054058 - 3 years ago

Thanks, all the best.

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Posted by Dibbyspot - 3 years ago

The 30-35% discount is fair but you could go farther. According to some Economist research French houses based on earnings and rentals are at least 30% over priced. Sorry to say British sellers  and some estate agents are the most unrealistic on house prices in France with the resulting disappointment and extended sales process. For example a UK vendor was selling at €168k a property, we looked around the area and found a similar house with a better location infrastructure for under €100k.

For vendors the problem is that France is mainly a buyers market. The fact is property, like anything else, will only sell at the right price.

If putting in a low price it does help avoid insulting the vendor by justifying your decision as others have said. Likewise your can always increase a low offer it is difficult to lower an offer once made.

Critical issues are: motivated seller - do they need the money, the sign being mulitple agents. Has the property been on the market a long time shows either problems or unrealistic pricing - both reasons for a large price realignment. Finally, if they do not accept your offer(s) dont worry there will be other properties.

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Posted by AQ-417490 - 3 years ago

The big question is - What is a property worth ? Answer - what a buyer is prepared to pay for it.

If housing is in short supply and a number of potential buyers are interested, then it is a seller's market and they can wait for a good offer (which, in the UK is often the asking price). If, however, the market is depressed, with more property available than buyers, then it is a buyer's market and sellers need to price their homes to attract buyers, who have a lot of choice. It is a sad fact that in much of rural France, property prices are falling as the numbers available are greater than the numbers of buyers.

I know people who have renovated and improved their homes in France who think their homes are now worth at least what they paid plus the cost of all the improvements. Too often, they do not recover their costs when they eventually sell - but at least the house is more appealing to buyers. The market is vastly different in France - housing is simply somewhere to live - an investment it certainly isn't and whilst supply outstrips demand, it's likely to stay that way.

So be brave with any offers you wish to make - but make sure it's the right place first, because if you change your mind after a few months or so, it is a long haul to secure a sale - and it might be for less than you paid.