What would you deem an acceptable offer

baileysbattlebus

manchestermike wrote: »

How come? It's one of my last considerations when buying a property

It's one our first considerations, I must admit, we wouldn't entertain a house without a garage - or at least the room to build one

Our current one houses bikes, tumble dryer, power tools etc and OH uses it as a workshop - complete with workbenches and you can access it from the utility room. It's more secure than our shed which has all the garden paraphenalia.

Sammy_Girl

Update - so we went to view the house today and it is really nice. It's a good size - not too big but the rooms aren't poky either. Could see us both happily living there.

I got the general vibes from the EA that there hasn't been that much interest in the property. As it was an Open Day (3 hours :rolleyes: ), I thought there may have been 1 or 2 other people there when we were, but no. Also, there were loads of the brochures available, as if not many had been picked up. Apparently the guy has inherited a house in London and has moved there so that is why it is vacant possession.

Anyway, it's all theoretical at the mo. I have 2 estate agents coming round next week to value my house, so I shall take it from there.

By my calculations, if an offer of £249,999 was made to the seller, then we would need a £37,499.85 deposit (85% LTV). We bought our house in 2007 for £205,000 85% LTV, so for us to raise this deposit we would need to sell for £210,499.85.

Hmmm, not looking good as as we all know, property prices have fallen. So I think I am left with 2 options. See how much I can sell my house for and adjust the offer to the seller accordingly (pretty doubtful), or sit it out, making sure that when we remortgage in March that we get a portable product. We are getting married next year so when we have finished saving for the wedding, then we will save to improve our deposit so that we're not just relying on the equity in the house which is diminishing daily!

Bit of a shame really, as this property would have been a lovely forever home.

Thank you for all your input :j

hethmar

Another plus is the man has inherited a property - i.e. a freebie - so he wont be that choked to take a hit on this one. Make your cheeky offer and see what comes of it

Sammy_Girl

That's true .

The property he inherited is in Blackheath in London which should be worth a pretty penny, but it's frustrating not knowing how much of a hit to take. Do you think offering 20% off the asking price (£240,000) is taking the p too much though??

At this current time, I wouldn't want to pay over £250k due to stamp duty implications.