nicci1973

The potential buyer!! Lots of people do take the 'P' even we have before. If they want the property then they will be back with another offer!
Hold out for what you want, I know we will.

If it gets to ddesperatetimes then you can reconsider the amount you want to accept.

Good Luck and all the best
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christmasoompa

In which case, yes, they were taking the p***!!

If I had a client wanting to buy a house at that price, I'd advise them to offer £140k to start with, with a view to securing it for £150k in the current market.

Let's hope they sleep on it tonight and come back tomorrow with a much better offer.

Best of luck, hope you can achieve what you want for it and get out to Canada soon.

livermanl

Put yourself in the position of having to accept 50,000GBP less than the asking price.

This is roughly $75,000 now try and get even $25,000 off of a Winnipeg house today.

Your 'yet' response doesn't help people who are due to arrive over the next 6 months. It's easy to say to someone else 'yeah you can recover that money no problem' but in smaller provinces they will have to wait it out a long time to recover $75,000. when $200,000 will get you a very attractive property here.

It can only fall so far here and i doubt a 200,000 house will ever drop to 125,000

Sleeping_Beauty45

That is the attitude Tina, somethings are more important which is our take on it. Keep the end in sight, no long til you hold that baby then you'll be on your way.

Keep strong.

MikeUK

“yet” means that although you haven't entered the recession yet, its highly unlikely that you’ll avoid it
And as in true small province style it takes longer to follow the main provinces (the bigger economies react faster and as knock on result the smaller economies tend to take even longer to recover)

Why do I say this?

So people don’t go moving to some province that they think is sitting safe on the assumption that its one of the few places that won’t be affected, when in reality the smaller have not provinces will be affected when the equalization payments drop.
Certainly I’m sure that if the have provinces run on hard times there will less being paid in, I’m also sure they want to keep as much to help them recover before they start handing it out again too..
Think about it..How much money will be left if Ontario starts pulling from the equalization pot (which it may do), how much does that leave the smaller provinces to pump into infrastructure to try to keep their economies going, if push come to shove which provinces will get the short stick
You’d be surprised how much property drops if the work force leaves one province to work in another, ask the Newfies

Steve_P

Ontario apparently officially became a "have not" province in November of last year.

Around the same time Newfoundland and Labrador became a have province.

So now the list of "Have not provinces" is:

Quebec - $8.35 billion
Manitoba - $2.1 billion
New Brunswick - $1.69 billion
Nova Scotia - $1.57 billion
Ontario $347 million
P.E.I. - $340 million

The haves are: Unfortunately no figures given as to who contributes what.

Newfoundland and Labrador
Saskatchewan
Alberta
British Columbia

Source: http://www.ctv.ca/servlet/ArticleNew...ub=CTVNewsAt11

Butch Cassidy

You're probably one of the few then

Sleeping_Beauty45

Pardon my ignorance but I really am interested - what are the haves and have nots?

MikeUK

This may help

http://en.wikipedia.org/wiki/Equalization_payments

livermanl

My point is simple and has been mis-interpreted somewhat...

If you think you can recover money lost from the sale of your home (in blighty) do research into the market you are buying into before you sell...

Steve_P

Or this

http://www.mapleleafweb.com/features...mporary-issues

I see I was possibly in error in assuming Saskatchewan being a "have" province. In 2007-2008 they collected $226 million.

Leaving only B.C. , Alberta, and Newfoundland & Labrador now as the "haves".

loser40

A factor in favour of the UK housing market is the low price of sterling... a recent article in a narrow-sheet news paper said that the Russian buyers are back in London and the home counties, and many American & Western Europeans also - this can only be a good thing.

I think Canada is also in a strong position, at the end of the day is rich in natural resources, so when the economy finally does pick up, when ever that may be, at least Canada is certain to generate good revenues.

If I were in a position where I wanted to move on with life in Canada but had a house to sell in the UK, I'd sell and make a smaller profit just so I could get on with my life.

M.

dexdaw

You put it on way over the odds in a falling market because you think thats what its worth? Won't it stand out like a sore thumb against everything else that is realistically priced? How will you ever sell it?

loser40

+1

Tangram

Some people made no profit and in fact a loss, just to make the move.