opinion on offer

lewolf

I would value you opinions on our latest offer.

House been on Market 6 weeks - several viewings including a couple of seconds. Priced at 325,000. Offer came in today for 310,000. We felt it too low but is it?

Potential buyer has sold his house STC. He bases this on the fact that we bought the house March 2005 for 285,000 and says his offer is the maximum he's prepared to offer.

However, all property has risen ( including his I expect ) a lot in recent months and to buy on we need to have as much as possible.

So realistically, is his offer ok in your opinion or are we being too optimistic?

Cheers

libitina_2

I think the average selling price these days is 93 - 94% of the asking price.
Pass the discount on to the vendor of the house you're buying. Also, have you done more than £25k worth of work to the property since you bought it? If not, why do you think you're entitled to more?

sm9ai

Sounds quite a good offer.

Its more than 95% which is quite good. You will of course offer a similar percentage on your next property.

How desperate are you to sell?

lewolf

sm9ai wrote:

Sounds quite a good offer.

Its more than 95% which is quite good. You will of course offer a similar percentage on your next property.

How desperate are you to sell?

We have to sell within the next few months but not in a tearing hurry!

It's good to hear the opinions of others. Before we moved to this area we were used to houses going for the full asking price and above.


Looks like we may need to re-adjust

PoorDave

Seems even high to me, based on the percentage increase against what and when you paid for it. Have you done work to it since paying 285k?

noyk

Looks like we may need to re-adjust

If you can get some money off the house you are buying, which in all likelyhood you can, then this is very good news for you!!!!!! Your mortgage/borrowing will be less, this is a good thing, or do you like giving money away to the bank and agents!

lewolf

PoorDave wrote:

Seems even high to me, based on the percentage increase against what and when you paid for it. Have you done work to it since paying 285k?

Landscaped the garden and replaced the dormer roofs ( not just re - felted, complete new roofs).

Thanks for your opinion

dougk_2

As a Buyer I would always say X amount ids my maximum whether it was or wasn't!

As a Seller is it not normal to go back via the estate agent and say £315k or similar????.... its the bartering stage! Also if you are too quick to accept the offer it makes it sound like a desperate move and the buyer may try to lower the price at a later stage.

You asked for opnions so that mine and not everyone will agree!

PoorDave

Al_Mac wrote:

House prices have been rising at least 10% per annum, so yours should be 327k, without any other influence

Not necessarily in this person's area... could be any percentage you wish to mention, giving an averqge nationwide of 10, perhaps?

In some areas house prices have been falling...

mike3000

He is thinking you are making profit for nothing because he can see via land registry what you paid for it.
My guess is he would offer more had the info not been available.

The answer to your question is only one you can answer, but the following might help.

Are you happy to accept the price, as it fits with your timing? if so the answer is yes.

If you want/need more (in my eyes the more you can get the better) and can chance getting a higher offer either from this buyer or any other before you time deadline then say no.

Personally i always offer lower than i am prepared to pay for anything.

My guess is you will get another £5k

sarah_elton

Have you checked what other houses nearby have actually sold for recently? See other threads on here for links to sites where you can see.