Offer of £250k refused so whats next??

LandyAndy

botchjob wrote: »

Good luck with your wait. £250k from £285k is a massive drop and you could be in for a long one. If the couple are splitting they'll each want the absolute maximum they can get for the house. You're also negotiating with 2 individuals rather than 1 couple. We bought our current house from a divorcing couple and they wouldn't give an inch on anything, although they were willing to leave a massive amount of extra fixtures and fittings including £5ks worth of fridge freezer and oven.

On the other hand they'll both (probably) want a quickish sale to allow them to move on with their lives.

Angelicdevil

In this climate, dropping from £285k to £250k isn't actually that much of a big deal. Especially if other put in offers around that amount too.

I've just had an offer accepted on a property that was up for 2 weeks, the offer I put in was £12k lower than the asking price and seemed to be in-line with what other's had put in too.

My parents also have recently had an offer accepted that was £250k lower than the asking price.

Just depends how quickly the vendor wants rid. In my case it's a young family who are desperate for more space, so desperate that it's tearing their relationship apart and neither of them want that to happen.

ReadingTim

The market's pretty slow at this time of year regardles of economic climate, so I imagine most vendors would be pretty happy to sit it out until the spring without a price drop, unless they absolutely had to sell.

And although the OP mentioned that the vendors are splitting up, s/he needs to ascertain the extend to which the mortgage is affordable for only of them - that again will determine the speed with which they need to sell.

Finally, you might want to research what the local market has done since April 2010 - I would suggest not a lot (either up, or down), and therefore estimate that the vendors would be looking for quite close to the asking price, and that £250k is just too low, even in a few months time....

Strapped

Sorry but having looked at your link, what's next is, "consider it a lucky escape".

SecondLegDownIsTheBigOne

Don't offer more.

LandyAndy

Strapped wrote: »

Sorry but having looked at your link, what's next is, "consider it a lucky escape".

Why? I thought it looked a decent house (bar the pool).

WhiteHorse

paul090971 wrote: »

I still feel they will somehow want to get a few £k out of me.

You make it sound as if you feel that they are not entitled to ask what they like.

paul090971

WhiteHorse wrote: »

You make it sound as if you feel that they are not entitled to ask what they like.

Not at all!!! How did you jump to that conclusion.

If they reduced their price in the new year and again I offered £250K I would imagine they would say no & so would I. If someone ever offered me £250K I know they want to save £5k on stamp duty so why not ask for £2.5k for extras.

paul090971

Mallotum_X wrote: »

Wait it out, very little sells at this time of year. How does it compare to other local properties?

http://www.rightmove.co.uk/property-for-sale/property-17271462.html
This almost backs onto it.

mumto2loves

how would you open the window on the stairs? and theres no drainer by the sink

( this house 'featured' in the look at this thread recently, and i remembered those 2 comments from then - i have no idea why i remembered them though!:p)



edit - sorry that wasn't very helpful was it?:o