dealtn wrote:1nvest wrote:Tell the agent you have a suitcase filled with US$575,000 hard cash and that as UK interest rates are likely to rise/house prices potentially fall - with rising interest rates and declining Pound that could relatively quickly rise to being worth over £600,000 (4.3% interest, Pound/Dollar parity) - so a very fair if not over-valuation offer. But that its a one time no haggling offer/needs a fast trade/closure - or otherwise once banked it will soon after be deployed elsewhere. Agent will of course say you can't pay in hard cash (national crime agency criteria) and you'll just say yes I know, it would be paid via bank transfer - just ask if your client if they want that in US$ or £ equivalent.
The Pound is likely to continue on down as the US ramp their interest rates even higher, attracting even more inward investment (stronger US$), as are UK interest rates likely to jump, putting downside pressures on buyers with mortgages. Puts enough maths into the clients head to entice greed, risk of regret at not having accepted the offer. And if they refuse just walk, say OK fine - the money will have been banked and started to be deployed elsewhere by the end of the next working week, so if they change their mind they have until then to get back to you. Next Thursday 22nd September BoE interest rate review and rising rates along with further £ declines (mini Budget on Friday 23rd) and you may very well receive a return call.
If I were the seller I can guarantee you wouldn't hear from me again. Good luck with those kind of tactics.
To recent would have been a reasonable offer/deal, 50/50 stock/gold $575K -> $710K, in Pound adjusted terms £475K -> £570K value, since the start of last October 2023 to end of March 2024.