What is my home worth, what to offer, downvaluations - tips

Woodyrocks

Seriously useful mse thread!

Have found the 'ideal' home after some depressing viewings...Shall be arming myself with the tips found in here and making an offer. The price is listed as 'in excess of...' but I am going to ignore this by starting at 7% below. I am prepared to go up but still could not go to the full amount. Just hope it all works out. It literally has just come on to the market and I am the first to see it, so maybe I am not in a good position and it doesn't help that I really really want it!

evansmummy

Woodyrocks wrote: »

Seriously useful mse thread!

Have found the 'ideal' home after some depressing viewings...Shall be arming myself with the tips found in here and making an offer. The price is listed as 'in excess of...' but I am going to ignore this by starting at 7% below. I am prepared to go up but still could not go to the full amount. Just hope it all works out. It literally has just come on to the market and I am the first to see it, so maybe I am not in a good position and it doesn't help that I really really want it!

It's an akward situation when it's just come on the market as sellers won't accept anything less than full asking price due to the time being on the market. It's very short sighted as the person making an offer in the first week might be the only offer they get full stop.
We're in a good position (we have a cash buyer for our place) and went to see a house that's been on the market for 2 weeks (a massive amount of time in the area we're looking in where houses sell within the week). It's a good long term project (I want to replace the kitchen and redecorate) but not my dream house.
It's on at 250k so we went in with a good final offer of 240k. That was rejected even though they have already found a house to buy. We left it a few days and offered 243 and they rejected that as they wanted 245.
I think they are being very shortsighted, especially if they already have a place to buy.

Plus there is two other houses that have been on the market since Mar 2011 at the same price which haven't sold.
We've told the EA to leave it with them and asked if there's anything else on the market in our price range. Hopefully that'll get back to them and they'll realise we're not offering anymore.

I've had enough of this stupid offer dance, and house buying in general. If it wasn't for my kids education I would be staying put!

Mr_Thrifty

Burp......

DRP

an excellent thread, thanks to the OP :j

we are going to make an offer on a house that appears to be way over-priced - loads (& loads) of work to do / above the ceiling price for the road etc etc. What it has going for it is a view and OSP/garage in a city location...

i think i will start at about 15% under the asking, and take it from there - I have looked at the OP list of things to get sorted when making an offer so I have arranged the solicitor and an AIF and we have a first timer buying our home - we will also stress that we are keen to hurry a move. Hopefully this will all work in our favour

Woodyrocks

evansmummy wrote: »

It's an akward situation when it's just come on the market as sellers won't accept anything less than full asking price due to the time being on the market. It's very short sighted as the person making an offer in the first week might be the only offer they get full stop.
We're in a good position (we have a cash buyer for our place) and went to see a house that's been on the market for 2 weeks (a massive amount of time in the area we're looking in where houses sell within the week). It's a good long term project (I want to replace the kitchen and redecorate) but not my dream house.
It's on at 250k so we went in with a good final offer of 240k. That was rejected even though they have already found a house to buy. We left it a few days and offered 243 and they rejected that as they wanted 245.
I think they are being very shortsighted, especially if they already have a place to buy.

Plus there is two other houses that have been on the market since Mar 2011 at the same price which haven't sold.
We've told the EA to leave it with them and asked if there's anything else on the market in our price range. Hopefully that'll get back to them and they'll realise we're not offering anymore.

I've had enough of this stupid offer dance, and house buying in general. If it wasn't for my kids education I would be staying put!

I totally know what you mean and with the area I am looking at there has also not been much movement in the market. The worry is that I now imagine everyone will be seeing this house through my eyes and wanting it as much as I do. I will play it as I have decided though and will not be pushed into offering more than I can afford. Also, the location is perfect but the house is teeny-tiny and I think the amount I am wanting to pay is a good price. For the sake of the location, the house is priced at over 60K more than a property of a bigger size a mile away. Child's education also has a fair bit to do with my own move - namely the station she needs for a direct train to new school come September is down the road from said house. I am effectively a FTB so no chains with a very healthy deposit and I already have broker & AIP + conveyance in place. If they can't see that I am a dream come a'knocking then I will leave it. However, if it it is still on the market come end of June and I haven't found something to replace it, I will go back with the highest offer I made, if they don't come running back to me. Fingers crossed! I just want to be moved and settled by August :j

SilverSaloon

bump!

Good info - thanks!