House Price Website and my Purchase

Doozergirl

I would not offer more than someone paid for a property less than twelve months ago. The market has hardly moved in price and I wouldn't offer higher just because the vendor needs to feel they're not losing money.

I'd also be concerned about this particular vendor's perceived lack of commitment to a move date. I would definately be asking questions through the agent to discover whether they are really not sure of what they're doing or if they are just trying to appear flexible to you. A non-commited vendor is a bad sign for the viability of a sale.

I certainly wouldn't make any moves on the legal front until they've found somewhere they want to be. That is what provides motivation for a vendor - more than a sale (especially one where they're not making any capital gain!).

Good Luck, I know it's a big move for you.

dfarry

Thanks for that Doozer Girl....

Yes the vendors position did concern me... they could not be very specific about their timescales but I will need them to be should the offer I make be accepted... so yes some more questions of the agent I think.

They didn't say what exactly (the husband) did but apparently it is a very small niche area and therefore they have to move where the work is... they moved to this home from Paris - in the garage it seemed like much of their stuff hadn't even been unpacked. Irrespective of my offer I have a feeling this one will fall through... but then you never know... alot can happen in a week or two as we found with our sale.

Incidently our buyers have already instructed their surveyor (via Nationwide) - so the survey will be done this Friday... and hopefully it will be full steam ahead... I just don't want our buyers to get frustrated waiting - though there are currently 3 other purchases in the chain.

Doozergirl

Although I've told you not to go ahead with the legals until your vendor has found somewhere, it's great for you that your buyers have done so as the further on the sale moves, the better position it puts you in when you buy!

lilyann1

You never know as we saw house up at £425k and put in offer of £408 and the agetn said oh no it is too low vendor will not accept it and I said well lets try anyway and the vendor came back and said yes!!!!!
Obviously they had overinflated the price.
One house on our estate is a 4 bed detached and was originally up for £415k,our 3 bed house on same estate has just sold for £277k!!!
This 4 bed really only had that 1 bedroom extra and nothing else,so why is it valued at so much extra??
Well over the last 2 months it has now come down to £350k so they were definitely trying it on!!! You offer what you feel like,tough if it is embarrassing it is alot of money you're parting with !!!

dfarry

Indeed you are right Lily...as is everyone else that has offer much good advice here...

I have called the agent, waiting for him to call me back - I am going to offer £295.

I also had an another agent call re: a house we viewed in Burgess Hill... it wasn't really ideal for our purposes but it was ok. It is on the market at £319K and I said I felt that was too much (following the research I had done) I said in my opinion it was a £290K house - the agent was very keen to put that offer to the vendor but I declined...... oooeer Buyer Power!

dfarry

OK, I have made two offers this morning... the first is on a house that unfortunately has small bedrooms but was very nice in other ways (so overall wasn't really too bothered... but I had showed interest at the weekend so felt I had to follow it through.)

This house is in Buxted near Uckfield, four bed detached, double garage and on the market for £335 - I offered £305K

I got the impression the agent thought it was reasonable expecially considering our position now - he came back to me shortly after to advise the offer had been declined. He had said that he would try to find out a bit more about the vendors expectations but on calling back he didn't have anything to add (so it seems the vendor is looking for an offer nearer to the £335K)

I have also had a long conversation with the other agent (the one for the house in Uckfield we do like) - I offered £295K, he accepted all my comments (thanks PM and others) about the local market and I think he will advise the vendors accordingly when he passes the offer onto them. I haven't heard anything back yet.... (perhaps no news is good news) hehe. :rolleyes:

Property_Magnate

Dfarry,

Good to see someone playing the market rather than the usual numpties.

But, you are still offering more than the house sold for a year ago despite significant falls in the area. Re-decorating means nothing.

A low offer is likely to be rejected. So what. Walk away. Ask to see other properties. We are already through the peak buying season ... the chances of the property selling are decreasing by the day. But be courteous ... they can always call you back.

Go on .... grow some balls :-) .

dfarry

Property_Magnate wrote:

Dfarry,

Good to see someone playing the market rather than the usual numpties.

But, you are still offering more than the house sold for a year ago despite significant falls in the area. Re-decorating means nothing.

A low offer is likely to be rejected. So what. Walk away. Ask to see other properties. We are already through the peak buying season ... the chances of the property selling are decreasing by the day. But be courteous ... they can always call you back.

Go on .... grow some balls :-) .

Haha... I have every faith that my offer will be declined and I won't be offering more... my balls are growing by the hour and I am certainly better prepared for next time with your assistance...

£295K is a good starting point I feel, who know's if it is accepted we might find the subsequent survey gives are cause to push for a further reduction.

Still not heard anything (well it's only been a few hours)... I'll update here when I know more

libitina_2

Good luck!

Jorgan_2

What will you do if they both accept your offer?