opinions please!!

baz01

just offered on a house.

i have been told it has been on the market for 8 months, no offers to date, and was valued for between £185 and £200 thou, but was on the market for £150 thou. he is currently building a house therefore in my eyes needing money.

i offered £145 thou and he declined straight away saying he is in no rush to sell, and i advertising elsewhere on the net as its a private sale.

i am a ftb, so am thinking he is just trying to spin me a web.

should i tell him that my offer is only valid for a week or something, to throw the ball back in his court?

feel as if i have no power in this deal going through.


please give me your opinions.

thanks

Fire_Fox

First offers are always refused! What is was valued at by the estate agent is irrelevant, what are land registry sold prices for the street or area? Don't say the offer is only valid for a week, that's a really blatent game. Leave the owner to think for a couple of days and then either increase your offer, or put the same offer again but in more attractive terms. You are an FTB, are all your finances in place, have you got a conveyancing solicitor on standby? Did you submit your offer in writing stating your strong position?

DVardysShadow

Too late, maybe, but never open with your best offer and always know what your top is.

baz01

i no the seller so he knows my situation. i also thought about leaving it a couple of days they increasing and sticking to that.

property in the area varies on price as there are alot of terrace houses and a couple of detactched so the valuation of the house is within the right sort of area.

help??

baz01

i can afford upto the asking price but do not want to pay that if i dont have to

BitterAndTwisted

Of course you don't, that would be daft. Just as the seller doesn't want to sell the house for less than what they think it's worth. It's poker-game but only you know what the house is worth to you as a home and that's all that matters.

Fire_Fox

Then you went in too high with your first offer.

baz01

aaarrrhhh!!!!!!!!!!!! stressed out

partlydave

If the house was £185-£200 and is now £150 it sounds like a reasonable deal anyway. You can check on rightmove or upmystreet to see what prices similar houses have sold for.

baz01

will do. but how can i get the deal secured without paying the asking price?

CloudCuckooLand

Go up in £2k chunks?

There is no way to mind-read the seller.

Did they price low deliberately to attract attention and then seek to negotiate up from there?

Have they priced low in desperation? In which case if £150k is a bargain, they don't want to go much under, maybe £149k is going to be necessary.

But being a bargain doesn't tie-in with sitting on the market for 8 months.

So maybe the valuations are EA bs. Need some local examples of sold prices...