whats it worth?

bride_on_a_budget

Hi all,

we put a cheeky offer of £210 in on a house on monday and the EA rang yesterday to say he hasnt put the offer forward to the seller as he thinks it would offend them and also that they are looking for £235-£240!!!.
bear in mind that the house has been on the market for a while and reduced from £269 in april

the house is a 5 bed detached but needs loads of work doind to it including a new boiler, full re-wire and upvc windows.
i have checked out different sites with similar house that have sold in the past few weeks and they have sold for between £220 and £250 but they donot need anything doing to them

the link is http://www.rightmove.co.uk/viewdetails-20443463.rsp?pa_n=1&tr_t=buy

let me know what you think

bride on a budget

billieboy_2

I'd have thought they were obliged to put forward your offer. I'd be really annoyed with my estate agent if he didn't inform us of any offers. If he refuses I'd knock on their door myself and tell them. If you don't ask you don't get;) .

ginvzt

EA has legal obligation to put the offers forward unless instructed by the vendor not to pass any offer below certain amount!!!
Call back EA and ask if the seller asked them not to pass any offer below £X amount. If not, request your offer to be passed and I would also drop a letter through the door with the offer and explaining that EA refused to put your offer forward. 12.5% below asking price is not a bad starting offer!

bride_on_a_budget

Hi Billie boy,
thats what i thought, i know the house needs alot done but we can see the potential and want this to be our last move until we need to downsize ie kids left home.

Bride on a budget

bride_on_a_budget

Hi Ginvzt.

i think i will get hubby to ring the Ea he argues better than me.
we dont think we can go any higher than £225 with all the work to do, the wiring is from build 1960s and the boiler looks like its from the same time.

Bride on a budget

mlz1413

I'd put your offer in writing post it through the house door and make sure you state that you have only done this as EA refused to pass on your offer - get the name of who refused you within EA.

If seller doesn't have to pay EA fees then they are probably in a better position to accept a lower offer

bride_on_a_budget

Hi Mlz1413,

it was the manager of the Ea that rang me, i think thats what made it worse.
from what i could make out , he thought our offer would make the sellers take their house of the market and he would loose the fee's.

bride on a budget

GDB2222

He may be right, of course. They may be well into negative equity territory at that price. I would keep looking .... Or better still, stay put for a bit longer, and prices will come down a heap further.

bride_on_a_budget

Hi GDB222,

they bought the house over 30 years ago when it was a 3 bed detatched and had the extension built in 1990 to make it a 5 bed and they said that is the only money they spent on the house, and the mortgage was paid off years ago
they want to downsize to a much smaller property and bank the rest of the money.

Bride on a budget

Chris2685

Well as far as I understand it, the EA is obliged to pass on ANY offer to the seller, and is acting illegally if they don't. The house we are buying was up for 230k, I put in an offer of 200k and they settled on 210. Sounds like a pretty bad EA, possibly just trying to play you to go higher!

barnaby-bear

bride_on_a_budget wrote: »

Hi all,

we put a cheeky offer of £210 in on a house on monday and the EA rang yesterday to say he hasnt put the offer forward to the seller as he thinks it would offend them and also that they are looking for £235-£240!!!.
bear in mind that the house has been on the market for a while and reduced from £269 in april

the house is a 5 bed detached but needs loads of work doind to it including a new boiler, full re-wire and upvc windows.
i have checked out different sites with similar house that have sold in the past few weeks and they have sold for between £220 and £250 but they donot need anything doing to them

the link is http://www.rightmove.co.uk/viewdetails-20443463.rsp?pa_n=1&tr_t=buy

let me know what you think

bride on a budget

Yuck the house of the 1980s... what rift in time did their decor fall through :rotfl: