Advice on putting in a low offer-updated, rejected :(

nearlynew

Remember - if you're not embarassed by your offer then it is too high.

arby

i'll spend ages looking over dozens of sites on the internet trying to find something £3 cheaper than the high street, yet when it comes to houses people bandy about £300,000 as if it's nothing. If the house is available, that means no-one wants it at the asking price. So don't go anywhere near the asking. They'll reject your first offer. don't increase it if it's your max offer, just say you're ready and willing to proceed and they'll come back when they've realised no-one else is getting near either.

FATBALLZ

Offer what you think it is worth. What the sellers think it is worth is irrelivant, as they aren't the ones buying it. If you make a reasonable offer and they get offended just move on, and accept that they are deluded.

AppleCore

FATBALLZ wrote: »

Offer what you think it is worth. What the sellers think it is worth is irrelivant, as they aren't the ones buying it. If you make a reasonable offer and they get offended just move on, and accept that they are deluded.

Well we're viewing the house tonight and however much I like the look of it, the more I look at the particulars the more overpriced it seems.

All I can think of is that the vendors are taking advantage of the property's location - its on a particularly nice cul de sac next to a park but that still doesn't explain why a better example house in the same road sold for less.

Be interesting to see if there's something worth the 20k in the house I don't yet know about!:D

AppleCore

Just been for the viewing and as much as we like the property and the street we are actually more confused about the price now.

-The property is only 13 years old but was extended to make a dining room and bigger lounge 7 years ago. There are cracks showing in the plaster where the house and extension join so these would require a plasterer. The ceiling of the original house is artexed but the extension has a smooth ceiling meaning half the lounge is artexed and the other isn't which looks weird and means more expensive plasterer work. My partner thought the extension floor felt like it sloped a little.

-The whole house needs recarpeting, the cream carpet looks worn and dirty and there are actually obvious stains and cigarette burns.

-The whole house needs a cosmetic facelift and looks tired, it has 3 bathrooms which are all originals and the main bathroom would need work at the very least. The kitchen is also the original and is very small considering the size of the property and needs tearing out and replacing, the cupboards were wonky.

-The built in garage has had a stud wall divider put in it which does not comply with building regs (vendor even said so). The garage also has a temporary ceiling which may need replacing.

Despite all of this we still really, really like the house but feel even more confused about the price! I know the cosmetic things are to be expected but at £370k I would have thought it would be in near perfect condition. The only pleasant surprise was that is was bigger than I was expecting (probably bigger than the detatched house which sold) which justifies the price a bit more.

We're going to arrange a second viewing on Saturday with a view to putting in an offer at the EA office afterwards. We can probably cobble together £335k at absolute max, would this be a reasonable 'final price'? We were thinking about writing a list of all the things in the house that would need sorting out but will this just insult the vendor if coupled with a low offer?

Any advice would be greatly appreciated!

pardal51

As a FTB and still unexperienced, I would take my time and book a 2nd viewing within 10 days or so. I believe market is not turning over this quick. If you book your 2nd viewing for this Sat it will show the vendor that you really want the house and he might have an upper hand on the negotiation (assuming you are not desperate for the house). Take your time and put the starting offer really low. You can always upper your offer but rarely lower it.

AppleCore

pardal51 wrote: »

As a FTB and still unexperienced, I would take my time and book a 2nd viewing within 10 days or so. I believe market is not turning over this quick. If you book your 2nd viewing for this Sat it will show the vendor that you really want the house and he might have an upper hand on the negotiation (assuming you are not desperate for the house). Take your time and put the starting offer really low. You can always upper your offer but rarely lower it.

Due to work commitments and the fact we live a long drive from the property it will be difficult to visit together on any other day but we arranged the original viewing on Saturday anyway so will just ask for the same appointment. I'm just going to say we've arranged to view other properties in the area on the same day.

I'm concerned that the husband will be a problem - he already refuses to do viewings and the wife said he's very attached to the house so I think he might get offended with low offers.

pardal51

AppleCore wrote: »

Due to work commitments and the fact we live a long drive from the property it will be difficult to visit together on any other day but we arranged the original viewing on Saturday anyway so will just ask for the same appointment. I'm just going to say we've arranged to view other properties in the area on the same day.

I'm concerned that the husband will be a problem - he already refuses to do viewings and the wife said he's very attached to the house so I think he might get offended with low offers.

They are probably playing games and it seems that they are achieving results as you are concerned about them getting "offended". Don't be afraid to start low, as they will probably reject your first offer anyway.

Charliezoo

I know it varies from area to area but I would have thought your max offer being less than 10% under the asking price is quite reasonable especially with the work that needs doing.

Cannon_Fodder

AppleCore wrote: »

There are cracks showing in the plaster where the house and extension join so these would require a plasterer... My partner thought the extension floor felt like it sloped a little...

Did you check outside, at the same point as the cracks...

Alarm bells are ringing from where I sit.