Advice on next move for house purchase

neverdespairgirl

tyllwyd wrote: »

And edited to say ... and what if the cheapest 4 bed detached in the area was £160K? The extended one at £150 might not look bad value then.

Still not great, though, a detached is more desirable than a semi, other things being equal.

Catatonia

I guess this debate shows how hard it is to value places accurately!

I put in an offer for £260k, which was also rejected, without a counter-offer. They have told the EA what they'll accept but told the EA not to pass this on to me, which seems strange.

I have been told to come back with my final offer for them to consider. But I don't know what to offer!

Catatonia

Right. I've seen it again so am considering putting the final offer in on Monday.

I think a final offer of about £265k would be fair. Should I just put this in, or do you think a offer with a less round number (eg £264k, £267k) might be more convincing as it would look more like we'd really done our figures and this would honestly be our top price?

Catblue

The agent seems to suggest that you could offer 5% less than the 295K asking price (that's reading between the lines). That would make the price they want at around £280K. The fact that the vendors have already reduced it after a month suggests people that do actually want to move to me.

I'd go for £266K. If it is rejected, then I would contemplate a meet in the middle absolute final offer of around £273K. That's only if I thought it was worth £273K of course.

Catatonia

Thanks, Catblue. I do think it's overpriced, so would be reluctant to meet them in the middle as I think £273k is a lot compared to other properties in the area. I guess if they turn down my next offer, I will have to have a long think about how much I want the house.

emmell

All this talk of comparing detached houses with semi's doesn't sound right to me. I would much rather have a large semi on a nice avenue than a 'barratt box' type of detached house on an estate where all the houses are fitted in like a jigsaw.
There is a large estate in the next village to ours and some of the detached houses are smaller than most of the semi's built before the '70's, and because of this demand a much lower price. Equally a large Edwardian terrace can be twice the size of a semi.
Detached is not always better in my opinion.
ML.

neverdespairgirl

That's why I've said, "other things being equal"

TrickyDicky101

As ndg said other things being equal I would go for a detached every day of the year over an equivalent semi.

Catatonia

The detached houses I was comparing this one to are the same size, although some of the cheaper ones are a bit newer and so not as nice (in my opinion: I guess some would think they were nicer).

Final offer of £266k was turned down. Still no counter offer, but EA said he thinks they want £280k.

I told them I would keep the offer open for a couple of weeks, so am just hoping that they change their minds. Apparently they are not in a rush to sell, as they have just lost the house they wanted as they hadn't sold theirs (not sure how true this is, as if I was losing out on houses that I wanted it would make me more keen to sell, if anything).

Catatonia

Ok, so the two weeks I left offer on table for was up yesterday.

I had a call from EA on Thurs, asking if offer was still on table as sellers had a second viewing on a property on Friday and so may wish to re-open negotiations if they go for the house. I said that offer was on table until Mon. I haven't heard from EA since. Should I chase, or will that make me look too eager? I am happy to wait it out, but don't really want to lose the house to another buyer.

Any advice?