Cash Offer on house

mybrainhurts

Doozergirl wrote: »

I didn't say that you said they would obviously take a low offer either and in fact I agreed that it was obvious that they didn't want to pay the mortgage.

I don't agree that it is obvious they are desperate. You don't have to be desperate to make a decision like that but if you're not going to sell at the price you want, it would be sensible to let it instead when you realise it isn't forthcoming.

To be honest, it looks like it was rented beforehand anyway; empty, part furnished. No one has sofas like that out of choice! It looks a lot like a repo but they wouldn't be offering it to let if it were.

Its odd, in some ways it looks very nice and good decorative order, but why 8 gas burners and why the gothic decor in the living room? The sofa might just be a prop brought in for the photo. I agree its not what you'd want to live with

*Dory*

Thanks for all the replies.
I know the price has been reduced thanks to property bee.
It was reduced £48k all in one go not gradually and at the same time as it went up for let. I'm hoping this is a sign that they really need to sell/ get some money in to pay the mortgage now.
Has anyone managed to get a serious reduction due to being a cash buyer?

Doozergirl

Not really. Only on repossessions or auction properties where cash is a real bonus. We've always been no chain buyers and so it might make some difference but I put it down to being able to negotiate more than being chain free. I don't think people who haven't bought and sold much are able to truly appreciate the benefit of a chain free sale. It takes seven months in a chain to really appreciate a FTB!

When selling, I might let a little bit go for a cash buyer but I think we're talking 1%, 2 at a push less than someone else. No chain is lovely admittedly but there's little difference between no chain and cash timescale-wise and so there would be no price difference between those two types of buyer for me.

border_collie

I would tell them the back garden is poky and the living room is teeny.


It probably isn't worth 200k even though it is in lymm.


Can you not find something fab?

nig0609

not sure if its relevant, but property bee on rightmove shows 38k drop from May08 to 2nd Feb:

02 February 2009

• Price changed: from '£287,950' to '£249,995' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Subtitle changed: 4 bedroom semi-detached house [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

11 May 2008

• Initial entry found. [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

getmore4less

Asking £895 rent.

gross yield at £249k 4.3%

Probably enough to cover any mortgage and more than you could get sticking the money in the bank.

Not a good yield for the long term but probably enough to ride it out if not desperate to sell.

A bad tennent and this place could come up at bargain prices in a few months

Even £200k won't see investors coming after this one( 5.4% yield)

If you like it I would stick the offer on the table and keep looking

*Dory*

border_collie wrote: »

It probably isn't worth 200k even though it is in lymm.

Your probably very right but where we live now is not the nicest of places and our children go to school in Lymm. We could change schools but I work in Salford and hubby works near Manchester airport so really we need to stay in this sort of area as it's in the middle of the two.

Going to give it a go anyway as you say the can only say no and will defiantly be using the small garden etc as a bargaining tool. However as it backs onto fields I can cope with that (but they don't need to know that do they? )