is this taking the pi$$ - house offer

myhouse_2

No need to be concerned that they won't take it seriously. It's just a business transaction and they only need to say no if they don't like the offer. You're not trying to be best friends with the vendors.
I think 245k is a good price to start at. If I was the vendor your offer would say to me "they will pay up to the 250k threshold but probably not more". I would therefore reject the first offer and see if you improved it.
Good luck!

Sparky29

Something is only worth what someone is willing to pay. If after a year at £289k in a falling market it still hasn't been sold it clearly isn't worth £289k.

They may need that much to move on because of negative equity or it is what they need to move up the ladder. They may be being optimistic with the asking price to stay away from the stamp duty threshold. It won't cost you anything to put in a bid. How does it compare with other properties in the area asking for the same sort of money and do they need repairs doing?

xyellowx

white noise- i had visions of you turning up with your sleeping bag and flask and pack lunch like some kind of stake out

white_noise

Sparky29 wrote: »

Something is only worth what someone is willing to pay. If after a year at £289k in a falling market it still hasn't been sold it clearly isn't worth £289k.
They may need that much to move on because of negative equity or it is what they need to move up the ladder. They may be being optimistic with the asking price to stay away from the stamp duty threshold. It won't cost you anything to put in a bid.

and this comes onto the biggy, we asked the EA what the position of the seller was and the house is owned by a couple that got devorced, and its just one half of the couple and the kids living in the house.
this to me idicates why the house has been on the market for over a year as to move on from the house each couple wants to get as much from sale as possible to move into individual houses, so they don't want to move that far on the price. plus there maybe some of one of the couple not wanting to move out of the family house. the move could be messy for them, but i know this sounds harsh as a buyer its not my concern unless that impacts me.
i have looked at nethouseprices.com and can't find the house on there, so i am assuming that it was last brought and sold a long time ago, which would indicate that they aren't in negative equity.
I get the feeling that they won't really shift on price though as people are saying it doesn't cost anything to ask, and having a hard limit does make it easier for us as buyers as we know that if it goes above £250k we a are stuffed whatever so its a no go.
@xyellowx yeah that is what i though that you mean't and i think that i would also tell someone where to shove it if that was the case!
WN

Henry_P_Chester

15% off the asking price is a good offer in this Market in my opinion. If it's been on for over a year it's clearly overpriced and therefore I'd start lower at maybe 20% off giving yourself room to negotiate.

Your right not to be concerned about the vendors situation. If they won't accept your offer then walk away. Don't be the mug who overpays and funds their next house purchase for them.