Gazunder on a probate property?

Running_Horse

n6600 wrote: »

But if the seller refused, I can still proceed with the price previously agreed right?

Not if they decide you are now unreliable, or sell to someone else just to spite you.

You are about to press the gamble button on a fruit machine, and it could go either way.

pauletruth

if i was the sellor i would tell you to get lost. you have agreed a price and then for no reason other than you think you have found cheaper stuff 200m away you want them to reduce it. you don't mention were this property is in scotland you may ave a contract.

those in auction may well go for more than the estimate. the people selling the house have a duty to the estate to raise as much as they can. would you be willing to deal with a person who offered yo 10k less just because they could. have you had the survey do you even know how much the place is worth.

Emmzi

n6600 wrote: »

I am happy with meeting half way. But if the seller refused, I can still proceed with the price previously agreed right?

How vile. Do you have any idea how stressful it is selling a house? ESPECIALLY UNDER PROBATE - someone they cared for has died, there may be multiple people need to agree a price, etc.

Fix a price in your head. Offer that. If it isn't accepted walk away. It is the decent and human thing to do. The time to negotaite was a) first offer or b) survey comes back.

You however seem happy to mess people about on a whim, VERY late in the process (you are being pressed to exchange.)

Buy it or leave them alone.

Nukumai

Emmzi wrote: »

How vile. Do you have any idea how stressful it is selling a house? ESPECIALLY UNDER PROBATE - someone they cared for has died, there may be multiple people need to agree a price, etc.

Fix a price in your head. Offer that. If it isn't accepted walk away. It is the decent and human thing to do. The time to negotaite was a) first offer or b) survey comes back.

You however seem happy to mess people about on a whim, VERY late in the process (you are being pressed to exchange.)

Buy it or leave them alone.

Oh, please....

This is a commercial transaction and the OP potentially stands to gain between £5k-£10k; and not based upon greed, but upon circumstances that appear eminently reasonable. Besides, for what it is worth, the OP has stated that he feels a little uncomfortable pursuing the proposed course of action.

rosyw

If I were the vendor I would , in no uncertain terms, tell you exactly where to go!! Surely you had ample opportunity to research sold prices BEFORE you put in your offer?
While this may be a commercial transaction, some thought should be given to the position of the vendor, are they perhaps selling so they can clear any debts of the deceased? having been forced to sell my home of over 20 years in order to settle my late husbands business debts,a process which drove to to the very edge of a complete nervous breakdown, if my buyers had tried this, even though I was desperate to complete the sale, I would have told them exactly where to go and found another buyer!
By all means ask the vendor if they will accept a reduced offer, but don't be surprised at their response. If you really want this flat then you may just have to accept the fact that you made a mistake in not doing your homework properly in the first place.

hazyjo

I can't believe you're comparing the price to two auction sales. They can go for way less than something on with an EA. Do more research and see what similar non-auction properties have sold for. Sounds to me like you've got a good deal if you're only paying around £10k more than two from auction sales...

Jx

paddyrg

The auction hammer price almost certainly excludes fees, which may make your place look a good deal by comparison.

nomoneytoday

The odds are 50/50 - they'll say "ok" or "go away"

If they say no, then are you prepared to buy an alternative property?
However, if they say yes then £10k buys an awesome home cinema setup

ILW

hazyjo wrote: »

I can't believe you're comparing the price to two auction sales. They can go for way less than something on with an EA. Do more research and see what similar non-auction properties have sold for. Sounds to me like you've got a good deal if you're only paying around £10k more than two from auction sales...

Jx

The auction properties are 2 bedders. Can be a massive difference in value between 1 and 2 bed flats.

hazyjo

Fair point - but you can save a lot at auction and I'm not surprised that they went for under the price of a one bedder.

You just can't compare with auction prices. Completely different market. Needs to check 'normal' sold prices and compare - and, as said, that should've been done a long time before now.

Jx