Advise please

*Dory*

We have been looking for a house for about 4 months now and about 2 months ago we put an offer on 1 that needed a lot of work doing. Our offer (cash no mortgage, 28 day completion, £175k) was rejected and the house was sold subject to contract (mortgage, FTB, £180k). Before this the house had been for sale for over 12 months prior to this with no offers. It's a probate between 4 siblings and was up for £220k

After some debate we have told the vendors that our original offer of £175k stands but they will not move from £180K. Even the estate agent has advised them to accept our offer but it's still a no.

The problem is we have had quotes of approx £24k to do the work needed and if we go to the £180 we also add stamp duty and will really be struggling to get it all done.

Any advise would be welcomed because we love this house and it would make a fantastic home for our 3 kids

clutton_2

if you really want it - pay the extra £5k and budget for the repairs over a longer period - or walk away

i once left an offer on the table for 4 months - they came back to me in the end

superfran_uk

It's not just the extra 5k though is it - it's the £2k for stamp duty also.

I would leave it on the table and walk away. They are stupid to turn you down but you can't make them sell you their house for a price you want.

*Dory*

Thank you both. I know that someone else has offered £170k today has told them that the house is worth no more than £175k because of stamp duty.

How long would you leave it before approaching them again? We go away in 2 weeks for 3 weeks so I'd like to sort something before then really.

We will go to £180k if we really have to but obviously I'd rather not

Fire_Fox

Who wants a bet the FTBs will have a survey done and then renegotiate the price to under £175K? I'd put the offer into writing stating the terms and conditions and that the offer still stands, ring once a fortnight and get a trusted family member to ring whilst you are away.

Doozergirl

Where's the house? You need to get a quote to fix it for £17k instead!

What needs doing for £24k?

If you've been looking for a further two months and nothing is comparing then it's worth considering isn't it?

*Dory*

Doozergirl wrote: »

Where's the house? You need to get a quote to fix it for £17k instead!

What needs doing for £24k?

The house is in Warrington and needs 11 window and 2 doors, Central heating, Kitchen, Bathroom, 11 internal doors, re-plastering in the kitchen and bathroom. Then we also have decorate and re-carpet throughout(not included in £24k). The house was built in 1968 and I don't think its been touched since.

It's defiantly worth considering but the £7k would make a huge difference to us having a home or a shell

*Dory*

Fire_Fox wrote: »

Who wants a bet the FTBs will have a survey done and then renegotiate the price to under £175K?

They did and were told a big fat NO so they pulled out

Doozergirl

Did you get one person to quote you for all of that?

I'm sure you can do it for a lot less if you broke it up into jobs and really shopped hard.

pinkshoes

Is this the only property you like in Warrington??

Just tell them your offer of £175k stands until 14th July, you're a CASH buyer, and looking to complete very quickly. After this date, you will walk away.

Perhaps the siblings aren't very good at maths so can't divide £175k by 4, hence they want £180k!?!

*Dory*

pinkshoes wrote: »

Perhaps the siblings aren't very good at maths so can't divide £175k by 4, hence they want £180k!?!

:rotfl:That thought had crossed my mind!:rotfl:

This is the only house that ticks all my boxes unfortunately, I really wish it wasn't but there is a serious lack of decent houses coming onto the market in the area of Warrington we are looking.
Other (cheaper!!)areas are out sadly due to mine and DH work places and kids schools which are excellent and I really don't want to change them