Would you accept this offer on your house?

Pumpkin7

I would be interested in hearing people honest opinions if this were there home & family, on if they would accept offer or not. In black and white facts and chronological order;

· £ 464k- Was price we had hose valued at by Surveyor for remortgage in April
· £499k- Price we Went on the market in June on advice of agent(as we had done a huge amount of work to garden and outside of house costing vast amount of money)
· £485- New asking price as we felt 499k was too high so asked EA to drop too this price
· £455k- Had offer after 2 weeks at this amount and accepted it
· £469k- Offer of 455k had fallen through- so went back on at lower price at own choice
· £425k- had offer 1 week later at 425k. Turned down
· £430k- Last week third offer on property
Not happy with this offer price wise, but couple genuinely love house so feel fairly confident they wont pull out (though do not take for granted) If it was you would you accept this latest offer of 430k or hang on?

Pumpkin7

Sorry I hope it makes sense! I have worse headache right now so please forgive its a bit fuzzy..

Gwhiz

Pumpkin7 wrote: »

Not happy with this offer price wise

You've answered your own Q. Why sell at a price you are not happy with?

Pumpkin7 wrote: »

but couple genuinely love house so feel fairly confident they wont pull out

That's impossible to tell. However, I refer you back to my first point above.

westv

Was the £464k valuation done before or after you did all the work?

Pumpkin7

The work was done after

rhodod

Surely its worth more than £430k?

warehouse

Personally I'd hang on for at least £440K. If they really do love the house then they will go up the 2.5% needed.

westv

I don't quite understand why you reduced the asking price after the first offer fell through. There was clearly some interest at the old price even if the offer was less than that.

Pumpkin7

They physically can't go up apparently they have tried every avenue and that is their limit, they already borrowing 10k from somewhere
We dropped it again after first fell through as we wanted to get another buyer asap to avoid losing house we had offer on (needed to move quick in time for daughter to start school) - which we lost anyway

westv

Pumpkin7 wrote: »

They physically can't go up apparently they have tried every avenue and that is their limit, they already borrowing 10k from somewhere
We dropped it again after first fell through as we wanted to get another buyer asap to avoid losing house we had offer on (needed to move quick in time for daughter to start school) - which we lost anyway

Ok I understand.

Well £430k compared to the original £455k offer is "only" 5.5% less so does the new price sill enable you to buy the house you had the offer on/

whitesatin

All these figures, a house will sell for what it is worth.

My house was valued, this time last year, at £442,500. I thought it was overpriced so kept reducing it. I have (almost) sold it for £306,000 or thereabouts.

No "profit" whatsoever as I have spent around £75,000 on improvements over the past few years. It is in tip-top condition, a period house.

I will expect to pay a lot less than asking price when I get round to buying in the next few months.

It's the way things are just now.