Over Priced?? Your thoughts Please :)

Skyler

Well when we viewed the house they said that they put on the conservatory and had put in the new kitchen. However, after viewing the property we went to view another house and we mentioned to the other vendor that we had been to see a property on that estate. She knew exactly which house we had been to see as her friend used to own it and sold it to the current owners (Was very spooky when she said that). She said the conservatory was already on the property, it was open planned but not the same layout as it is now so they weren't completely honest on that front. Will the HIP show the details of the conservatory erection? Presumably they would have had to get planning permission for it??

With regard to the kitchen, my DH was talking to the vendor and he happened to ask him what he did for a living and he said he was a rep for a kitchen company So I very much doubt they would have paid full price for it.

pawpurrs

Right so your unsure what work they have one, but definetley a new kitchen. Conservatorys dont allways need PP, so you may not be able to find that out.
At the end of the day, the house is worth what you are willing to pay for it and the vendor will have a bottom line that they will accept, if the two meet you may have a deal.

Skyler

I know, your right, we'll just have to wait and see, roll on tomorrow

BitterAndTwisted

Skyler, you're confusing me: more than once you've talked about a home-till-you-die and then in different posts you've mentioned selling up after 2 or 3 years. Which is it?

In your shoes I'd offer them a lot less than £200k as your first offer. I expect they've had low offers already but it still hasn't seemed to sink in that what they are hoping to get for the house doesn't mesh at all with what others are prepared to pay for it.. Sounds like they need to start living in the real world with the rest of us

Skyler

Well made an offer of £206k, offer rejected estate agent said the vendor wants close to the asking price so no point in making any further offers really. The EA said that she had spoken to their valuer and the conservatory and kitchen was done by the current vendor. I think that she forgot that she sent me the HIP this morning and it says inside it that the conservatory was errected in 2003. Current vendor didn't purchase until Jan 2007.

They obviously need to recoup as much money as they can, when I quizzed the EA about how long the house has been on the market for she said just over 18 months (property bee was different dates). So after 18 months and no sale wouldn't you think that they would wonder why?

Ho hum.... rented accommodation is looking more likely now

freeride

Skyler wrote: »

Well made an offer of £206k, offer rejected estate agent said the vendor wants close to the asking price so no point in making any further offers really. The EA said that she had spoken to their valuer and the conservatory and kitchen was done by the current vendor. I think that she forgot that she sent me the HIP this morning and it says inside it that the conservatory was errected in 2003. Current vendor didn't purchase until Jan 2007.

They obviously need to recoup as much money as they can, when I quizzed the EA about how long the house has been on the market for she said just over 18 months (property bee was different dates). So after 18 months and no sale wouldn't you think that they would wonder why?

Ho hum.... rented accommodation is looking more likely now

Sounds like the sellers not desperate. If you like the place that much you might have go to your limit.

How much will you pay for renting a house?.

Skyler

freeride wrote: »

Sounds like the sellers not desperate. If you like the place that much you might have go to your limit.

How much will you pay for renting a house?.

Our limit is nowhere near the sale price, so time to move on. We can probably rent for the same money as a mortgage would cost us between 650 & 700 a month.

You never know the house might still be on the market in a years time, perhaps they will be more realistic then, who knows

wheresmydoshat

leave them on the market for another 18 months, sounds to me like they are completely wasting everyones time.

unfortunately these are pretty much the only kind of vendors/houses on the market at the moment, chancers.

freeride

wheresmydoshat wrote: »

leave them on the market for another 18 months, sounds to me like they are completely wasting everyones time.

unfortunately these are pretty much the only kind of vendors/houses on the market at the moment, chancers.

Interesting comments..

Just goes to show not all sellers are willing to take silly offers at the moment.

I wouldn't say the vendor is wasting peoples time, after all Skyler new her/his limit was nowhere the asking price..

I think this situation is a two way street... its not always sellers that have unrealistic expectations...

chickmug

wheresmydoshat wrote: »

sounds to me like they are completely wasting everyones time.

The fact is whatever the prevailing market you always get sellers who try it on. BUT it sometimes works & and they get more because they are being stubborn.

In the same way that buyers who start very low and make small increases in their offers often get the house for less than those who go in too high.

This is the property market and there are NO rules.