Do we accept this offer????

quietheart

Bit of a daft question but we are struggling to make up our minds.
We've had our 3 bed terrace up for 2 months, lots of viewing but no offers until the last week. We reduced the price from £172,500 to £169,950 after the first month.
We've had offers of £160K, £165K and now a final offer of £166K so we'd be accepting 4K less than the (reduced) asking price. The lowest we said we would accept is £167K.
The market by us does suddenly seem to have picked up and there is nothing we are particularly interested in buying so we just can't decide if we should hold out for more - we could do with more as we're buying on one salary....
This is the link for the house:
http://www.rightmove.co.uk/viewdetails-7632283.rsp?pa_n=1&tr_t=buy&ep=via_sl

Doozergirl

You're decently priced in comparison to others and your house is very well presented.

Have you given any indication to the estate agent or the buyer as to what you would accept yet?

I'd play hardball. Go back and tell them what you've told us; That you are prepared to hold out for nearer to asking price as you haven't found anywhere you want to be yet

Over how long a period have these offers been coming in?

You can always go back to them in a week or so if they don't rise to the challenge. Most people will. The only person that hasn't for me was an estate agent himself. That was a battle of wills!

mpsavuk

Looking at houseprices on the internet the ceiling for your road is £156,000 and that was only back in march 2006.(number 264)

So if you ask me, your place is overpriced and whoever has made the offer will be paying around £10,000 over what it's really worth because they haven't done their homework properly.

So i'd take the money and run before they find out!

quietheart

mpsavuk wrote:

Looking at houseprices on the internet the ceiling for your road is £156,000 and that was only back in march 2006.(number 264)

So if you ask me, your place is overpriced and whoever has made the offer will be paying around £10,000 over what it's really worth because they haven't done their homework properly.

So i'd take the money and run before they find out!

Another house down the road sold for £205K, it's a long road and houses differ dramatically so the average doeesn't really mean much. We went with the lowest quoting estate agent as he is "honest" and he said he thought we'd get £167K, all in all I don't think it's overpriced.

quietheart

Doozergirl wrote:

You're decently priced in comparison to others and your house is very well presented.

Have you given any indication to the estate agent or the buyer as to what you would accept yet?

I'd play hardball. Go back and tell them what you've told us; That you are prepared to hold out for nearer to asking price as you haven't found anywhere you want to be yet

Over how long a period have these offers been coming in?

You can always go back to them in a week or so if they don't rise to the challenge. Most people will. The only person that hasn't for me was an estate agent himself. That was a battle of wills!

Thanks!
Offers have been coming in the last week or so. I'm gormlessly honest and did tell the estate agent £167K was the lowest when someone kept increasing his offer in small increments. We have a viewing tomorrow with a FTB so will see how that goes, the £165K offer has scrapped together £500 more but that's not gonna be enough. It's just the doubt that this could be all the activity we get for a while.....
Thanks for the input, it's really appreciated.:T

kenshaz

Why do you need a link to your house,an explanation was fine ,seems like an advert

quietheart

kenshaz wrote:

Why do you need a link to your house,an explanation was fine ,seems like an advert

to give a fuller picture actually, if someone wanted to buy a house i guess they would be looking on rightmove already not MSE!!!!
mr/mrs oh-so-cynical!:rolleyes:

MissMotivation

kenshaz wrote:

Why do you need a link to your house,an explanation was fine ,seems like an advert

I thought that it was particularly useful to be able to see what we are commenting on. My advice is stick to your guns, if you have budgeted on acheiving £167,000 then tell your agent you won't accept any less UNLESS you have found a property and want to offer on that one. In that case I would make an offer on your next property to reflect that fact that you have lost money on your sale......no harm in trying!

Good Luck

charlie007

if you are in no rush then stick it out.

look around to see what your options would be to buy with that offer

kenshaz

rovers wrote:

to give a fuller picture actually, if someone wanted to buy a house i guess they would be looking on rightmove already not MSE!!!!
mr/mrs oh-so-cynical!:rolleyes:

I have a house in Spain ,would it help if I put in a link to the agent who rents it, OH I forgot agents are for sales and renting ,this site is for Money Saving,
a clever ploy,will all posters now be able to put in links to house sales.What does the guide think

Doozergirl

kenshaz wrote:

I have a house in Spain ,would it help if I put in a link to the agent who rents it, OH I forgot agents are for sales and renting ,this site is for Money Saving,
a clever ploy,will all posters now be able to put in links to house sales.What does the guide think

I'm not the board guide but I don't think there's any harm. It's much easier to give a decent reply based on something tangible. It rarely happens that people post a link and this question seems genuine enough to me.

I thought we supposed to be nice to all moneysavers?