What kind of offer and general advice on house buying

GDB2222

Bear in mind that most vendors want to move home, rather than just to sell their present one. So, if they have not found somewhere to move to that they really like, they have no incentive to accept any offer at all, let alone a lowish one. Sometimes, they can't afford to accept less than a certain figure, even though the house may not be worth that. So, you should expect to be knocked back a few times. It sounds like you are doing the right thing, so don't get spooked by the rejections, just keep trying. If you are decent tenants, I expect that your LL will be happy for you to stay on a few more months if need be.

Cheeselady

Beckyy wrote: »

I think it depends on a few factors

- The value of the house
- How much you can afford
- The area
- How much you want the house

Your other offers seem reasonable to me, but natually, people want to get as much as possible for their property.
1st house sounds like the children being a bit greedy and being determind to get as much as possible, even if the market doesn't allow it.
Second house sounds like they were hoping they would get a higher offer as it had only been on the maket for a couple of weeks.
Unless they accepted low offers I don't imagine either would be sold in 6 months time, and I think they made a mistake not accepting!

What kind of offers are you toying with at the moment?

We are not sure at the moment, because the house is on a main road we are not 100% sure whether it would be a good idea to buy, would it be harder to sell it later on? So still considering. Also it's an older property than the others we looked at, but does have more character, which is lovely, but of course could mean that we would be paying a lot for upkeep in the coming years, which we are also not sure about taking on, with hubby being only a few years from retirement age. The house is another property that is being sold by the children, so empty at the moment. Taking into account the location and the circumstances, we would maybe offer £210 to start with, or is that a totally ridiculous offer?

GDB2222 wrote: »

Bear in mind that most vendors want to move home, rather than just to sell their present one. So, if they have not found somewhere to move to that they really like, they have no incentive to accept any offer at all, let alone a lowish one. Sometimes, they can't afford to accept less than a certain figure, even though the house may not be worth that. So, you should expect to be knocked back a few times. It sounds like you are doing the right thing, so don't get spooked by the rejections, just keep trying. If you are decent tenants, I expect that your LL will be happy for you to stay on a few more months if need be.

It's the family home being sold by the children, same as one of the previous properties we made an offer on. I do know it was up for sale a couple of years ago, but didn't sell, so was rented out for a while, but is empty at the moment. Yes our landlord is quite flexible so no problem there, but would love to get something sorted sooner rather than later so we can feel 'settled'.

GDB2222

Cheeselady wrote: »

It's the family home being sold by the children, same as one of the previous properties we made an offer on. I do know it was up for sale a couple of years ago, but didn't sell, so was rented out for a while, but is empty at the moment. Yes our landlord is quite flexible so no problem there, but would love to get something sorted sooner rather than later so we can feel 'settled'.

Family house, all paid for, no big incentive to sell. Indeed, there may be sentimental attachment to the house, so they don't really want to sell it at all, but may be tempted by a premium offer.

Just make quite a few offers until you find a vendor who really wants to sell at the time you make the offer.

Beckyy

If I was in your situation I would probably offer around the £210,000, expecting it to be turned down and having to go up a little maybe.