Have viewed a house....wld like opinion

leannie_2

Hi,
I went to see a house today, it is on the same housing estate that I grew up on, and where my parents and grandparents still live.
The vendor has been recently widowed and is moving away to Derbyshire (from Cornwall) to live with her daughter. The house has had two abortive sales so far, the first chain collapsed, the second the mortgage fell through due to the prospective purchaser no having enough time in business as he was self employed. They have kept the price at £160k since September, the first time it went on the market.
On viewing today, we found the vendor sitting on a deck chair and a folding garden table, surrounded by all her stuff in packing boxes. The last offer was so far down the line she had organised her move and everything.
The house is structurally sound but the decor is very outdated, it is tatty inside and needs some time spent on it, the walls need skimming and a new heating system will be needed in the next couple of years, the kitchen and bathroom suite are liveable but needs replacing in the not too distant future.
Other houses in the area have recently sold for between £155k and £169k, but some were a bit bigger and those selling for the premium were tidy, with new kitchens and bathrooms etc.
So, we didn't want to pay more than £140k really for any property and we have an absolute maximum of £150k financially, but we rent and are not in a chain.
Should we offer £150k?

themoffster

By the soubds of it she will be determined to get out of there as soon as possible.
Can you not put in the £150k and give a deadline of a day or so?

Remeber the lady will be old and it will be worse for her than it will for you - she will be looking to get it all finalised quickly, especially if her stuff is all in boxes.

amazamum

Hi,I'd offer £140-£145k and see how the offer goes,she sounds as though she just wants to sell and go.
You can always offer a little more if it's turned down.
You never know you might get a bargain.
Good luck

rizla01

Depends on how you feel about depriving an old lady because of her predicament.

Taking advantage will boost your bank but, remember, what goes around....

She will be existing on what she gets for the rest of her life whereas you have time(I assume) to build up to your retirement.

Why not ask your parents/grandparents. They may know her and not agree with striping the poor ol' dear.

leannie_2

I am a bit gobsmacked at that post, did I say it was an old lady? People can widowed at any age! She is younger than my grandparents...
The vendor told us they the house for £58k 8 years ago, and haven't had a mortgage for a while. She said the house reminds her too much of her husband and she isn't from here so wants to move.
My parents and grandparents don't know her, I checked, but not becuase of that but because she seemed really lonely and if they did, they could pop in and say hello, even if we didn't offer on the house.
Besides, we are a local couple, who want to live where we were born and brought up, and raise our own family here, we are priced out of the market by country wide economics, the influx of second home owners and people deciding they want to retire and die by the seaside!
The average house here is 11 times the average wage and we are the poorest county in the country receiving objective 1 funding from the EU and the even harder to get continuation convergence funding because of that..., give me a break! We are not robbing an old lady, we want to put in an offer on a house in a designated area of deprivation at a price we think is justified and we can afford to pay.

devils_advocate

Depends on how you feel about depriving an old lady because of her predicament.

Taking advantage will boost your bank but, remember, what goes around....

She will be existing on what she gets for the rest of her life whereas you have time(I assume) to build up to your retirement.

Why not ask your parents/grandparents. They may know her and not agree with striping the poor ol' dear.

Rizla, your post moved me to tears about her predicament. If you can PM me her address I'll send her a fiver. It would have been more but I've to feed my starving children.

On the other hand, OP, if you actually give her some cash to do what she wants to do, you can help her, by buying her house. Don't feel bad that you can't help her more!

advent1122

rizla01 wrote:

Depends on how you feel about depriving an old lady because of her predicament.

Taking advantage will boost your bank but, remember, what goes around....

She will be existing on what she gets for the rest of her life whereas you have time(I assume) to build up to your retirement.

Why not ask your parents/grandparents. They may know her and not agree with striping the poor ol' dear.

That has got to be the biggest pile of guff I have read on here.

The "little old lady" does not have to accept £140-£145K, everyone is out for a bargain and to get a property at the lowest price possible, it is up to the "little old lady" to tell the buyer to take a hike or up the offer.

Personally, I would go in with an offer of £140K and see what happens - Sentiment does not come into house buying.

BargainJunky

I would offer what you think the house is worth. You can start a little low to test the water but dont make a silly offer as she may not think you are serious - then increase or ask the agent what she would accept and try to meet half way. My mum recently offered £147,500 on a £154,950 asking price (it had already been dropped by £5000) and the offer was refused - they wanted £150,000 so the offer was upped to £148,750 and was accepted. Further down the line the survey came up terrible and mum withdrew but that is another story.

in_my_wellies

leannie wrote:

I am a bit gobsmacked at that post, did I say it was an old lady? People can widowed at any age! She is younger than my grandparents...
The vendor told us they the house for £58k 8 years ago, and haven't had a mortgage for a while. She said the house reminds her too much of her husband and she isn't from here so wants to move.
My parents and grandparents don't know her, I checked, but not becuase of that but because she seemed really lonely and if they did, they could pop in and say hello, even if we didn't offer on the house.
Besides, we are a local couple, who want to live where we were born and brought up, and raise our own family here, we are priced out of the market by country wide economics, the influx of second home owners and people deciding they want to retire and die by the seaside!
The average house here is 11 times the average wage and we are the poorest county in the country receiving objective 1 funding from the EU and the even harder to get continuation convergence funding because of that..., give me a break! We are not robbing an old lady, we want to put in an offer on a house in a designated area of deprivation at a price we think is justified and we can afford to pay.

You seem very defencive in your reply. You must offer what you feel comfortable with in the long run

leannie_2

in_my_wellies wrote:

You seem very defencive in your reply. You must offer what you feel comfortable with in the long run

I guess I am/was a bit offended by the assumption/belief I am trying to rip off an old lady, (and that only old ladies can be widows as my friend has just been widowed in her forties, admittidly the vendor is older than this but is not on her way to a home by any means) .
It is really difficult to get on the housing ladder for any FTB, but especially for FTB in Cornwall. I am wanting to offer what we feel the house is worth, not rip anyone off, apologies if I am over sensitive.

Rick62

The lady's predicament is not your problem, give £50 to a charity for homeless widows if you want. You should offer no more than what you think is reasonable. From what you said it soulds like it may be worth about £160k once you have spent about £15k and a lot of hassle. That sounds like an offer of £140k with a max of £145k to me.