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    • Batman2017
    • By Batman2017 6th Feb 18, 11:08 PM
    • 90Posts
    • 77Thanks
    Batman2017
    Over offered?
    • #1
    • 6th Feb 18, 11:08 PM
    Over offered? 6th Feb 18 at 11:08 PM
    i've just offered on a property and now im starting to worry ive offered too much. It was the 7th house we have seen and ticked almost all boxes. Guide price was 240k and the kitchen extension was fantastic. Vendor said he'd had an offer at 245k so we offered 2k more.

    Ive just seen that another house that i looked at has now been reduced by 10k and is now not much more than the one we offered on. This other one has the added bonus of being detached but i prefer the other property.

    Any advice?
Page 1
    • Thrugelmir
    • By Thrugelmir 6th Feb 18, 11:11 PM
    • 57,535 Posts
    • 50,829 Thanks
    Thrugelmir
    • #2
    • 6th Feb 18, 11:11 PM
    • #2
    • 6th Feb 18, 11:11 PM
    You are the one going to live there. I'd buy the one that grabs my heart. That ticks the most boxes. Few are ever 100% perfect. Though it's you that will make it a home not just a house over time.

    Any doubts walk away.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • PokerPlayer111
    • By PokerPlayer111 6th Feb 18, 11:37 PM
    • 184 Posts
    • 48 Thanks
    PokerPlayer111
    • #3
    • 6th Feb 18, 11:37 PM
    • #3
    • 6th Feb 18, 11:37 PM
    Approach all large financial decisions rationally imo, analyse yourself and what would work for you.

    Over offering is not great, you've not exchanged contracts so have a potential chance to work something out. Maybe you should consider both properties, put offers on both, lower the previous offer.
    • Batman2017
    • By Batman2017 7th Feb 18, 12:51 AM
    • 90 Posts
    • 77 Thanks
    Batman2017
    • #4
    • 7th Feb 18, 12:51 AM
    • #4
    • 7th Feb 18, 12:51 AM
    There is a house 3 doors down that is the same and sold for 202k in sept 2016(apparently house prices have increased 1% in the area in the last 12 months. zoopla now estimates it to be worth between 201k and 209k,

    The house that i want to buy has been extended and now has a very modern kitchen diner with vaulted ceiling and skylights, utility and downstairs shower room that this other property didnt. Is an extension worth this difference in price 15 months on?
    • Gwendo40
    • By Gwendo40 7th Feb 18, 6:31 AM
    • 42 Posts
    • 30 Thanks
    Gwendo40
    • #5
    • 7th Feb 18, 6:31 AM
    • #5
    • 7th Feb 18, 6:31 AM
    There is a house 3 doors down that is the same and sold for 202k in sept 2016(apparently house prices have increased 1% in the area in the last 12 months. zoopla now estimates it to be worth between 201k and 209k,

    The house that i want to buy has been extended and now has a very modern kitchen diner with vaulted ceiling and skylights, utility and downstairs shower room that this other property didnt. Is an extension worth this difference in price 15 months on?
    Originally posted by Batman2017
    The extension may well have cost that much (£40k+) but it doesn't necessarily mean that it automatically increases the properties value by that amount (which a lot of people having extensions assume)
    • Davesnave
    • By Davesnave 7th Feb 18, 7:06 AM
    • 24,294 Posts
    • 90,990 Thanks
    Davesnave
    • #6
    • 7th Feb 18, 7:06 AM
    • #6
    • 7th Feb 18, 7:06 AM
    As above, the extension could easily have cost the seller £50k, but the type of house and the location it's in will determine the ceiling price they can expect.

    I extended my last property, and if I'd had the option of buying it already done, I'd have considered paying a premium price for it. However, I was confident that I'd be there for at least 10 years (actually over 20) and that the area was 'on the up.'

    Whether my mortgage lender would have agreed is another matter!
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • glasgowdan
    • By glasgowdan 7th Feb 18, 7:23 AM
    • 2,777 Posts
    • 3,122 Thanks
    glasgowdan
    • #7
    • 7th Feb 18, 7:23 AM
    • #7
    • 7th Feb 18, 7:23 AM
    Get the detached! It guarantees you won't ever be listening to a neighbour's tv through the wall...
    • Stubod
    • By Stubod 7th Feb 18, 8:50 AM
    • 458 Posts
    • 318 Thanks
    Stubod
    • #8
    • 7th Feb 18, 8:50 AM
    • #8
    • 7th Feb 18, 8:50 AM
    "Most" other things being equal I would always take a detached over a semi.
    (I would prefer a "slightly" less desirable detached over an "almost perfect" semi....)
    • steampowered
    • By steampowered 7th Feb 18, 9:16 AM
    • 2,185 Posts
    • 2,061 Thanks
    steampowered
    • #9
    • 7th Feb 18, 9:16 AM
    • #9
    • 7th Feb 18, 9:16 AM
    Are you planning to live there a long time? If so, £10k is probably not an enormous sum of money in the grand scheme of things.

    You are only really overpaying if there is another property you'd prefer to buy at the same price.
    • Crashy Time
    • By Crashy Time 7th Feb 18, 2:25 PM
    • 5,531 Posts
    • 2,272 Thanks
    Crashy Time
    You are only really over-paying if you are over-paying, and it sounds like you definitely are here
    • Batman2017
    • By Batman2017 12th Feb 18, 11:03 AM
    • 90 Posts
    • 77 Thanks
    Batman2017
    During the viewing i asked the vendor if he would leave the fridge and rangemaster if he got a price he was happy with which are about 2k to replace new. Ive just had an update from the estate agents that he is leaving these so that makes me feel a lot better now. Now im just looking forward to seeing what the valuation comes back at by the surveyor.
    • Crashy Time
    • By Crashy Time 12th Feb 18, 5:57 PM
    • 5,531 Posts
    • 2,272 Thanks
    Crashy Time
    I`ll take a punt at 220K, or less.
    • Batman2017
    • By Batman2017 19th Feb 18, 11:39 AM
    • 90 Posts
    • 77 Thanks
    Batman2017
    I`ll take a punt at 220K, or less.
    Originally posted by Crashy Time
    No chance. You must be smoking magic mushrooms (are you a hpc advocate by chance?)
    Last edited by Batman2017; 19-02-2018 at 11:42 AM.
    • lincroft1710
    • By lincroft1710 19th Feb 18, 2:15 PM
    • 10,387 Posts
    • 8,527 Thanks
    lincroft1710
    (are you a hpc advocate by chance?)
    Originally posted by Batman2017
    No, he is the hpc advocate
    • Crashy Time
    • By Crashy Time 19th Feb 18, 9:52 PM
    • 5,531 Posts
    • 2,272 Thanks
    Crashy Time
    What was the valuation?
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