what to offer!?!

Ivrytwr3

OK, short story!

Couple are divorcing and placed house on market late last year for £189k. Still hasn't sold and are now advertising at £169k.

We viewed and although the property isn't what we are after, we will buy if we can get a good deal.

We offered a cheeky £134k and apparently wife was very offended! Wife said they will accept £160k - but i still don't think it's worth that amount.

Estate agent said they had had an offer of £150k and the only reason they didn't sell was because the couple the offer had come from had not sold their property; we have sold our property.

What do you all reckon/advise?!

snugglepet20

Sounds like they will sell at £150k but my advice is not to buy a house you don't like! You could end up being unhappy and stuck there trying to sell it on.

Ankatden

Ivrytwr3 wrote: »

Estate agent said they had had an offer of £150k and the only reason they didn't sell was because the couple the offer had come from had not sold their property; we have sold our property.

What do you all reckon/advise?!

Estate agent is telling porkies as if you have a sale you have a sale and can still leave on market until exchange.

What vendor feels is really irrelevant as you buying their house not seeking a friend.

Offer again if its right for you at 139k and see what happens.

harrup

Do you plan to live in it for some time? Or just buy it as an investment and you'd live elsewhere?

If it's the former - think carefully. Who cares how good a deal a house was if you don't like it & enjoy coming home to it at the end of the day.

Also, bear in mind that thanks to zoopla, mouseprice, etc your future buyers will know exactly what you paid for it and when. Unless you can add significant value to the house by restoring or extending it, you'll have some tricky questions to dodge why you now feel that it should be worth way more than you gave for it. I agree with snugglepet ...you may well get stuck in a house you hate. Whereby the "good deal" suddenly becomes a huuuuuuuuge millstone around your neck

If it's the latter...can't hurt to try under 150K. All they can do is to reject it.

Ivrytwr3

Our problem with the house is that we would need to brick up the coal fire and install an electric fire surround (don't like coal fires!) And the house needs new carpets and painting as it is looking tired.

The reason we are keen on the house is that our chosen location (only a few miles away) we couldn't get a property of that standard for £150k - so are willing to compromise. I guess we would pay £150k as we could then spend a bit on getting it to our liking.

But how would we word that to the estate agent? I don't just want to say "£150k final offer" (or is that the best way?) I'd like to explain why we are offering that price and that we are in a good position as our house has already sold!

Sorry, but i really am a newbie to house buying/selling!

jenhug

Could you say We are offering £150k and we feel this is a fair reflection due to the current state of the property, we have a buyer for our house and are keen to proceed quickly. In return we would ask that the property is not shown to anyone else?

Eric1

Ivrytwr3 wrote: »

Estate agent said they had had an offer of £150k and the only reason they didn't sell was because the couple the offer had come from had not sold their property

A very clear hint, the EA must be desperate

jenhug

I'd be tempted to start with £140k first, with £150k as your max, you never know, you might get a bargain!

Ankatden

jenhug wrote: »

I'd be tempted to start with £140k first, with £150k as your max, you never know, you might get a bargain!

I agree as very £1000 saved goes to refurbing the house.

Don't appear in a hurry as that indicated desperation.