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what do we do, make an offer before I have a sale?
puddy
Posts: 12,709 Forumite
here is the scenario. my flat is on the market and has been from mid june. the price has been reduced twice and is said to be comparable to others in the area. i have had not ONE viewing. initially, i stupidly put it on the market with an online estate agent. it has now been on with a high street estate agent for about 3 weeks and still no viewings.
after spending so long NOT looking at properties, we have now resorted to seeing some and predictably fallen in love with a house and want it.
the house is 180k, we have a max of 150k IF mine sells at 200k (its advertised for 210k). If i get less, then we dont have 150k.
the house has been on the market for about 14months, with various estate agents and intially went on about 200k.
what do i do, make an offer of 150k, subject to survey and my own sale?
we think it probably has damp and may have some problems with the lintel above the window, but that of course needs to be checked by the survey.
we're wondering why its been on the market for so long, as it apears to have been put on before the price crash and whether this will make it likely that an offer so low will be accepted.
what would you do, i love the property but we dont have any more money and i havent got a buyer
after spending so long NOT looking at properties, we have now resorted to seeing some and predictably fallen in love with a house and want it.
the house is 180k, we have a max of 150k IF mine sells at 200k (its advertised for 210k). If i get less, then we dont have 150k.
the house has been on the market for about 14months, with various estate agents and intially went on about 200k.
what do i do, make an offer of 150k, subject to survey and my own sale?
we think it probably has damp and may have some problems with the lintel above the window, but that of course needs to be checked by the survey.
we're wondering why its been on the market for so long, as it apears to have been put on before the price crash and whether this will make it likely that an offer so low will be accepted.
what would you do, i love the property but we dont have any more money and i havent got a buyer
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Comments
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Average property now sells for around 9% less than the asking price for a start......Illegitimi non carborundum.0
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Hi Bettie, I know, but is putting in an offer for 150 for someting advertised for 180 taking the pee? 10% off would be 18 grand off the asking price, which would be 162k??0
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I wouldn't accept an offer from someone who had a house to sell. When I was selling my house, I told the estate agents that I didn't want people who hadn't sold to even view my property. This was because it was a hassle as I have dogs that jump and bark and generally misbehave. The EA told me the dogs were distracting and shouldn't have them in the house when people were viewing. I had to lock them in the car which made me unhappy. I wasn't prepared to stress the dogs for someone who had a house to sell.0
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Why do you imagine your flat will sell for £200k?This is an open forum, anyone can post and I just did !0
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because 'thats what the estate agent said'
before you burst out laughing, im open minded about what price it will eventually go for, he based that on sales about a month ago that they had done for flats similar to mine. i realise that things are changing all the time.
so, i have to base my spending ability on someting at the moment, but if, as i say, it goes for less, then my spending ability is less.
i know what you mean about not wanting people to view without having had a sale already. the estate agents are already annoying us as we book up to see about 5 in one day and then throughout the day they slip in another couple or so and havent told the vendors what our status is, they even told one woman, who had to come over to show us the house especially, that we were in a 'good position'. i told her straight, we were not in a good position and we hadnt even expressed interest in this property, we didnt know we were seeing it until today.
i have also been very clear with estate agents, telling them that we do not have a buyer, then we find they are telling vendors (where we have expressed an interest in seeing the property) that we are ready to move!!
they dont change0 -
If a flat was sold about a month ago - the offer would have been put in about 4 months ago. We've had an international credit crisis since then so buyers are cheekier.0
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If you're dead set on the house check with your EA whether the price of your flat is realistic and at what price it is really likely to sell and take heed. If you then get an offer make an offer on the house based on this. I agree that most sellers aren't going to take an offer seriously until you're sold (would you?), but in the meantime you could express an interest in the house so that any potential flat buyers know you have a property in mind if they're looking for something proceedable.
Just my opinion
MLC
Jenner you'd already replied before I could post this, but it sounds like you're being sensible. EA's aaargghBe not so busy making a living that you forget to make a life0 -
Do you know what I would do?
Tell them you are really interested but we are in a stupidly complicated market and you don't have a buyer. However, if you all work together youcould, perhaps, drop yours if they would be prepared to drop theirs and so on.
The question then crops up as to what position are they in? Do they have something they like?
Get the EAs to earn their commission and try and negotiate to pull some sort of chain together.
You may find they are realistic - in which case there may be some possibility of getting a chain or they may be in complete denial, in which case you'll have to go the traditional route and get yourselves an offer on yours by pricing keenly (not what you think is keen but a figure that is keen)
What I would not do is make an offer at the moment. Mainly because you can't proceed so it's not worth the paper it's written on.0 -
Sorry, I was referring to your property. It's unlikely you'll sell for £200k imo.Hi Bettie, I know, but is putting in an offer for 150 for someting advertised for 180 taking the pee? 10% off would be 18 grand off the asking price, which would be 162k??
Edit: Regarding your offer on the other one, if you're not embarressed, it's too high. Though as has been pointed out, with still needing to sell, you're not in a favourable position as far as the vendor is concerned.Illegitimi non carborundum.0
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