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

silvercar

Why do you need a massive lounge, large kitchen and only one bedroom; your sizings are now disproportionate.

An eat-in kitchen is nice, I would knock something off the lounge to create the second bedroom.

(Actually I wouldn't, I would go back to the £210 offer and say you will accept £220, settle on £217k and walk away, find a nice rental and have your baby without this headache.)

glen8

pick up the phone and negotiate before its too late

QTPie

shoe-gal wrote: »

so is the general consensus that offering 82% of asking price fair?

Depends on a lot of things: there is a LOT of disparity in how properties are priced on the housing market at the moment - some are priced ridiculously, some are priced to sell. I would say that anybody who is serious about making an offer on a property should do some serious research into what that property is worth (i.e. looking at asking prices of similar properties, looking at historical prices etc) and go from there. I don't think that you can just "blanketly" offer 82% on any property... it doesn't mean that an offer of 82% on many properties is unreasonable, but an offer should be specific to a property.

QT

Soot2006

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)

Unless they have 350K of mortgage left, have been made redundant, etc ... and suddenly 500K looks like a sweet deal for a clean escape .......

suckers2008

No its only been on 3 weeks why would I sell myself short - I have four viewing tomorrow and 9 on Saturday
Thats right 9 viewings on Saturday!!!

daveb975

suckers2008 wrote: »

Hmm I was thinking about this - I do have £6K in savings which were meant to be going towards converting the loft into another massive double bedroom and bathroom OR ripping the kitchen out and re-doing it in order to gain the second bedroom - if only a small second bedroom but I would rather keep my savings under my belt at the moment just in case something does happen with other halfs job then I can pay the mortgage for a few months

It sounds as if you have the making of a lovely flat there with 2 beds converted to 1 giving great living space AND the ability to put another bedroom above - a totally different property from the one you first bought.

Unfortunately for sellers, the availablity of the Land Registry figures will always mean that some buyers will only ever look at the price you paid and work from there. If you have spent £40k on genuine upgrades to the flat then this should be reflected in the price you can get, but not everyone will look at it like that

The problem is that the market has gone down so much, even this may not be the price you want. Is there any way of finding out what a comparable flat in good condition sold for when you bought yours? Most of London seems to be sitting at around 2004/5 prices at the moment, so this may be a good indication of what you might expect.

silvercar

What area of North London is it?

QTPie

suckers2008 wrote: »

No its only been on 3 weeks why would I sell myself short - I have four viewing tomorrow and 9 on Saturday
Thats right 9 viewings on Saturday!!!

For context, it would have been worth you posting that at the start of the thread... :rolleyes:

Obvviously with 13 viewings lined up, tell the person who offered that you will get back to them next week.

QT

suckers2008

Its Crouch End
off to the shops now have a craving for spam!!! lol this pregnancy thing is entertaining!

BettiePage

suckers2008 wrote: »

No its only been on 3 weeks why would I sell myself short - I have four viewing tomorrow and 9 on Saturday
Thats right 9 viewings on Saturday!!!

That's great! Hope you get an offer more to your liking.