Had an offer....what is this a joke?!!

suckers2008

My husband has a good job and last week was promoted so he can more than cover the mortgage on his own - I am currently applying for the PPI insuarnce I had on it anyway - Realistically I think I would accept £235K...maybe £230

suckers2008

I spent that money on it 6 months after I brought it so 2.5 years ago its all white walls, white kitchen, original wooden floorboards, all very very neautral colour is only added with accessories like pictures and candels etc so it really is a blank canvas

QTPie

silvercar wrote: »

Spending 40k doing up a flat at the moment seems overkill, you won't see a return on your money. You may have top notch gadgets, but people won't pay top notch money for them. What your investment will do is get you quicker offers than those similar properties that don't have such fancy gizmos.

Agreed, but it sounds as though the OPs circumstances changed unexpectedly... Built-in top notch gizmos and gadgets are just about always a waste on a house that you aren't going to stay in for very long, but I doubt that the OP realised that they weren't going to stay long when they did it. A baby can change a LOT...

Good luck to the OP. Being (or even trying to be!) pregnant is really a difficult time - lots of emotions and changes. Selling property isn't at all easy in the current market and I appreciate that it feels a lot worse for her. I know that trying to get pregnant and wanting the best for my baby (that isn't even there yet!) is making my mind work in 100 different directions at once.

QT

glen8

at the end of the day it depends on how badly you want to sell

If you want to sell it, take the offer. If not, take it off the market

Woby_Tide

suckers2008 wrote: »

What are these FTB's on???!!

the same as First Time Sellers?

BettiePage

suckers2008 wrote: »

My husband has a good job and last week was promoted so he can more than cover the mortgage on his own - I am currently applying for the PPI insuarnce I had on it anyway - Realistically I think I would accept £235K...maybe £230

Then realistically you may be there for some time. Negotiate with your wannabe buyer see if you can get another couple of grand out of them.

Despite the promotion, is hubbys job secure?

QTPie

suckers2008 wrote: »

Realistically I think I would accept £235K...maybe £230

I think that is probably over optimnistic. It doesn't mean that it is over optimistic (goodness only knows in property - there are no certainties).

I guess that your options are either just rejecting the offer or counter-offering £240k and seeing if they come up anywhere near to meeting you. Just rejecting the offer doesn't give the buyer much to go on... (although I have done it before, so am not a good example... ).

QT

ILW

suckers2008 wrote: »

I spent that money on it 6 months after I brought it so 2.5 years ago its all white walls, white kitchen, original wooden floorboards, all very very neautral colour is only added with accessories like pictures and candels etc so it really is a blank canvas

How can it be possible to spend £40k on a kitchen and some white paint?

puddy

i dread to think what i spent on mine, over 12 years, i had a kitchen for about 3.5k, double glazing for 5k, new bathroom cost about 3.5 to fit etc, flooring was 2k including fitting, plus painting, other bits and bobs, probably on the way to being about 20k, so if someone has really top notch stuff (mine was all ikea and b&q) i suppose you could look to double that

silvercar

glen8 wrote: »

That's the thing though, a house is only worth what someone is prepared to pay

If the sellers of these 700k houses refuse to lower their price then they won't sell (unless someone generally think the property is worth it)

swings and roundabouts

I just get the feeling that sellers at 700k+ are not as desparate for a sale.

a) they are unlikely to have 90% mortgages (630k!!) so can access good mortgage deals.

b) To rent a similar home would cost them a lot more than they are paying on their mortgages.

c) Little risk of negative equity if they don't sell quickly.

d) A 10-20% fall in prices means losing 70-140k a lot of real money.