How much to offer on a dream house outside our budget?

lovethymini

Hiya,

We saw a house that was about 25k above our top budget of 285k.

I rang the EA, said we were interested in it but our limit was 285 and would they consider offers and if so could we view. The response was yes. No harm in doing that if it's still available when you're ready to view houses.

You've obviously found a house that you both really like. No harm in dreaming as some dreams come true!

chickmug

tootsmyboots wrote: »

I wont post a similar question again unless we have sold.

I say to you feel absolutely FREE to post whenever you like and whatever you like. Don't let any comment/s dissaude you. See the forum etiquette on the right had side of the page. :-


Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

JanCee

chickmug wrote: »

I say to you feel absolutely FREE to post whenever you like and whatever you like. Don't let any comment/s dissaude you. See the forum etiquette on the right had side of the page. :-


Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

Seconded.

Geenie

JanCee wrote: »

Seconded.

Thirded...... if that word exists!!

OP, ignore the grumpys, they are in a bad mood because they know that we will still get nul points even with Leona Lewis singing!;)


It is always very difficult to advise on offers when the location is unknown. I know for a fact that where I live in Devon, houses that have been on the market for a year or more are now selling......and near enough at the prices originally quoted when first put on the markt in many cases! Been quite a shock to see the sold signs after the tales of doom and gloom everywhere.

It very much depends on the area, what is available and what locations are keeping their worth because of demand. It would help I am sure if you could give some indication of where you are looking, as there may be people on here who know that particular market and can advise accordingly.

davsidipp

Geenie wrote: »

Thirded...... if that word exists!!

OP, ignore the grumpys, they are in a bad mood because they know that we will still get nul points even with Leona Lewis singing!;)


It is always very difficult to advise on offers when the location is unknown. I know for a fact that where I live in Devon, houses that have been on the market for a year or more are now selling......and near enough at the prices originally quoted when first put on the markt in many cases! Been quite a shock to see the sold signs after the tales of doom and gloom everywhere.
its not being grumpy its being realistic some areas have gone down quite a bit but others have not.in my case to offer 100k less would be an insult now if the house was over a million that would be another matter.all we are saying is cut your cloth to what you can afford which is more sensible not take too much notice of people who think they can offer what they like and vendors will accept cause i can assure i for one will not.

Geenie

davsidipp wrote: »

Geenie wrote: »

<<<
its not being grumpy its being realistic some areas have gone down quite a bit but others have not.in my case to offer 100k less would be an insult now if the house was over a million that would be another matter.all we are saying is cut your cloth to what you can afford which is more sensible not take too much notice of people who think they can offer what they like and vendors will accept cause i can assure i for one will not.

You have put me in the quote above and not your name...........but, I am not sure what you are getting at here?! I clearly stated that properties in my area have not gone down that much! If you want to offer whatever do....good luck I say. It was all about the area and what the going rate was. Cut your cloth to all you like, just accept that in some areas there will be buyers who want a longer length and are prepared to pay for it. It's nothing to do with me but the local market.

cronos

davsidipp wrote: »

...but i think its rude to offer 100 grand under value unless it was not worth that in the first place.

It's not rude, it just being speculative in a tough market. Remember a property is only worth what someone is prepared to pay for it, regardless of it's perceived value.

davsidipp

sorry geenie was not aimed at you just thought you was having a dig at some of us being grumpy just me getting a little narked at people thinking they can offer silly prices with the housing situation as it is.my reason for selling is i want to move to a quiter area so dont want to wait to the slump ends although in my area it does not seem to have much affect .

davsidipp

cronos wrote: »

It's not rude, it just being speculative in a tough market. Remember a property is only worth what someone is prepared to pay for it, regardless of it's perceived value.

well in my area south east london that offer would be laughed at as i said most houses are still holding their price and selling.in my position i have a larger house to sell as kids are grown up now and want something smaller but on a house worth 470 would not dream of offering 370 ,i have friends whose houses have been on the market at that value who have had offers of 425 and told the agent no way but have sold their house in the end at 44o and yes they did find it rude to offer 425 as their idea is go look for something in your price range.

cronos

davsidipp wrote: »

well in my area south east london that offer would be laughed at as i said most houses are still holding their price and selling.in my position i have a larger house to sell as kids are grown up now and want something smaller but on a house worth 470 would not dream of offering 370 ,i have friends whose houses have been on the market at that value who have had offers of 425 and told the agent no way but have sold their house in the end at 44o and yes they did find it rude to offer 425 as their idea is go look for something in your price range.

That may well be their perspective and your perspective, but I would not let that put people off putting in what you may consider a rude or cheeky offers. There are still people (not everybody) who are accepting offers well below the asking price. For example, I recently purchased a property (in a well established area) for over £100k below the asking price and surveyor's valuation. In the final analysis the 'market value' is what I paid for it regardless of the surveyor's or vendor's view.