Is this insulting?

Gorgeous_George · 23 August 2007 at 10:03PM

Don't offer £92,950. That's a seller's price for £93K.

Offer £93,000 - it sounds a lot more than £92,950.

A week may be a tad too long. Two or three days would be plenty. And yes, keep looking with the same EA - but make it clear you prefer the first house, at the right price.

GG

royalsteve · 24 August 2007 at 12:58AM

geordiepaul2001 wrote: »

Hi all,

My Wife and I have seen a house we really want to buy.
Its on the market for 'offers around' £110,000.

During one of our viewings the vendo sid that she had broken u with her husband and needed a quick sale to finalise things with her ex.
The house has been on the market for 9 months with no offers.

As I have no home to sell (no chain), would an offer of £100,000 be insuling?, or should I start lower/higher?

Paul

if its been on the market for 9 months ask why - is there a problem with it? dont believe people's stories....might be a genuine reason but who knows and all estate agents are honest arent they...lol!
if its ok, then id check if its at the right sale price - check recent sales on sites like www.nethouseprice.com ...if all ok, then think of the figure you want it for then offer it and see what happens.....id start at £95K aiming to get it at under 100K

royalsteve · 24 August 2007 at 1:02AM

Gorgeous_George wrote: »

Offer 10% less than you expect to pay, so £90K or £95K would be a good start.

Aim to meet half way but increase your offers by £1k or so (i.e., small increments). Don't rush in with a revised offer if one is rejected.

Tell them you will try to borrow extra from family.

Emphasise your position with regard being ready to go.

Finally, hope that the vendor doesn't read this forum!

It's just a game of poker.

GG

lol you sound like me when buying houses!!
id start at 95K with 1K increases tho...pleading poverty and borrowing from family sometimes works.

reformedEffortMaker_2 · 24 August 2007 at 1:36AM

geordiepaul2001 wrote: »

We are hoping to not have to surpass £105,000.

I have searched for the house but cannot find it.
I can find a similar house in the same street which went for £50,000 in October 2002 - http://www.houseprices.co.uk/e.php?q=NE27+0HW

Does that help?

As far as I am aware, netprices.co.uk and similar websites only post figures post year 2000. Is it worth asking over agents what they would pay for it?, to find out if its being marketed at a fair price?...in terms of negoiations, I think the advice on here so far is sound, if its been on for 9 months, I would want to know why though!, has it been with the same agent the whole time? what reasons have they given?....the last thing you want to do is spend £500 on a survey to find it has serious structural problems which have been causing people to pull out!, at the same time, that might be the only way you get an honest answer....

Good luck!, let us know how you get on

geordiepaul2001 · 24 August 2007 at 10:17AM

royalsteve wrote: »

if its been on the market for 9 months ask why - is there a problem with it? dont believe people's stories....might be a genuine reason but who knows and all estate agents are honest arent they...lol!

It was the vendor herself who told us about breaking u with her husband, 9 months on market etc. We have only soken to the EA on th phone.
Plus the Wife had met the vendor once before during the week at a baby and toddler group, so I think she said a little more than she wanted to as she recognised her.

m00m00 · 24 August 2007 at 11:37AM

there's two ways to look at a house that's been on the market for this long.

either a) they are desperate for any interest and thus more likely to accept a low bid or b) they are extremely stubborn and are holding out for asking price.

the only way you will find out which is the case, is if you put an offer in, If it's a case of the house being sold because of a marital breakup, then it could be more complicated with two antagonistic parties having to agree any particular offer. On the other hand, they may just want to get rid, and start again.

geordiepaul2001 · 24 August 2007 at 11:45AM

m00m00 wrote: »

they are extremely stubborn and are holding out for asking price.

The vendor stated that she had had lots of interest but no offers.
The house itself has no garden and that will put off a lot of people.

honeypop · 24 August 2007 at 11:53AM

geordiepaul2001 wrote: »

The vendor stated that she had had lots of interest but no offers.

I would say lots of interest means nothing with no offers having been made. No offers is as good as no interest.

Or maybe there was interest or offers but there is something making people drop out, such as underlying issues with the sale or property that you are not yet aware of.

geordiepaul2001 · 24 August 2007 at 11:57AM

honeypop wrote: »

I would say lots of interest means nothing with no offers having been made. No offers is as good as no interest.

Or maybe there was interest or offers but there is something making people drop out, such as underlying issues with the sale or property that you are not yet aware of.

What would be the best way of investigating the reasons?
I would obviously be wanting to try and continue our good relationshi with the vendor

Badger_Lady · 24 August 2007 at 12:24PM

You're right - a house of this size / style with no garden will put a lot of people off. Looks to me like a small family home (therefore somewhere for kids to play) or young couple home (who are fussy these days). Could be the only reason it's hard to sell! Apart from talking to vendor (or commissioning a survey at cost) there's no way to find out if there's anything else.

If you're happy with the house as is, and plan to stay there a long time as you say, go for it! It will be equally hard to sell on in the future, but you can worry about that in 10-20 years' time.

Do your research, check it's what you want, then: Put in the offer! Put in the offer! (And let us know what happens).

Is this insulting?

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