Grade ii Listed flat - same price as homes in area - does it make sense?

Made_Without

@Grovester - yes I understand what you are saying that sure the person wouldnt want to hear that, it is a gamble - for both parties to some extent.

Anyway offer was rejected. Apparantly, the vendor has a higher offer on the table that they are yet to accept / reject. EA asked if I wanted to make another offer.

They told me the price on the table (10% less than asking compared to my 15%)
Now I am as to what to do - if I was to up the offer, there is nothing to stop the other party doing the same and the very last thing I want is a bidding war (doesnt even seem right in this climate!!)

I had asked the EA about looking into the cost of buying the freehold - he replied today that apparantly it wouldnt be worth it - the vendors had spent 20k getting a new lease (125 years) and buying the freehold (share of) would be in the region of 100k!!!

Does this all ring true? I'm trying to think of the EA in an honest light but I cant help feeling like I am not being given the truth on everything.

C*F

Made_Without

oh i forgot to add the makers of the other offer are in a strong position too - FTB (currently renting in area) - so I am not getting any brownie points.

I suppose I cannot fathom spending so much for a leasehold property I want to live in for the foreseeable future.

C*F

Grovester_2

If you need to think about then it's probably not right. Sit back and take stock, this is your first property so don't get too caught up in it.

Made_Without

Well I did as suggested - thought about it, decided I liked it enough to try putting another offer in and it got accepted

Now the fun of finding solicitors and the right mortgage - i thought I was confused before - HA so wrong! Now I am so lost its not funny.

There are so many options

But yay I am one step closer

C*F

Grovester_2

Congrats!