should i buy it?

frugal_dougal_3

The vendor knows you are willing to pay the full asking price because you have already offered it.

A survey may or may not give you some leverage on the price, it's a risk to take depending on how much you want it. You have already seen that waiting alone will not bring the price down and neither will it in the next six months.

Poppy9

With regard to the waiting game I have seen many properties locally who have had to eventually reduce their price if they want to sell especially in the last few months. When I bought my last house 10 years ago there were 5 houses for sale on the same street (it was a long street). It was an extremely popular road due to school catchment area etc. Anyway 3 houses were for sale for £80k, 1 for £89k and one £110k. All 1930's semis by same builder. The only extra on the £110k were a conservatory and nice decoration. The £89k was having a laugh. No D/G, rotton windows, in need of serious updating but next door but one was on for £110k so he wanted that sort of money. Co incidently I met the owner of the £110k (or should I say former owner) a year later. Discussing house prices she told me the saga of her overpriced house. He hubby insisted it was worth £110k. They turned down two offers of £98k £94k. They sold eventually for £90k after waiting a year. The man with the £89k house waited 3 years to sell. Mind you if they had waited 10 years to sell they could have got £270k

Doglover88

thanks for all your wise words people but alas, he accepted an offer of 179,000 from another buyer. Looks like its back to the local papers for me

Thanks anyway
Glen

Poppy9

Its not over till it all completed. If it needs work the survey will pick this up. With a jittery house market the valuer may not come in high enough. The current buyer may then reduce his offer so the house is remarketed.