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Offers in excess of
ncrawley
Posts: 243 Forumite
Hi
Myself and my partner are interested in a house that is up for offers over £112,550, now this house has been on the market for well over a year, it was originally put on at £119,000 and has gradually decreased to the first mentioned price.
Now I know it depends on the feelings of the vendor, however it seems that because it has been on so long, and the price has gradually decreased, that they may not have had much interest?
That being said, when it states offers in excess of, are we still worth going in with a lower offer like you would generally do if it was just your bog standard house for sale at such and such price? The price is within our budget (if it is bang on the asking price, however we would obviously want to get it cheaper)
I realise it depends on a number of factors, but I was just intrigued to get the general consensus of the situation and whether it is considered ok to offer lower when it states offers in excess of (although I will probably be told that if you don;t try you don't get
?) :beer:
Myself and my partner are interested in a house that is up for offers over £112,550, now this house has been on the market for well over a year, it was originally put on at £119,000 and has gradually decreased to the first mentioned price.
Now I know it depends on the feelings of the vendor, however it seems that because it has been on so long, and the price has gradually decreased, that they may not have had much interest?
That being said, when it states offers in excess of, are we still worth going in with a lower offer like you would generally do if it was just your bog standard house for sale at such and such price? The price is within our budget (if it is bang on the asking price, however we would obviously want to get it cheaper)
I realise it depends on a number of factors, but I was just intrigued to get the general consensus of the situation and whether it is considered ok to offer lower when it states offers in excess of (although I will probably be told that if you don;t try you don't get
?) :beer: 0
Comments
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No problem. It's a buyer's market and if you don't ask you don't get.
Worst case: they refuse your offer and you have to decide whether you're prepared to offer more.0 -
I'm with the brass necked, don't ask, don't get crowd.
The worse they can do is say no. Then you are in no worse position that before! If you have all inclusive minutes, it won;t have even cost you a phone call lol.I'm never offended by debate & opinions. As a wise man called Voltaire once said, "I disagree with what you say, but will defend until death your right to say it."
Mortgage is my only debt - Original mortgage - January 2008 = £88,400, March 2014 = £47,000 Chipping away slowly! Now saving to move.0 -
My opening offer would be £100k, with the aim to get it for £105k.
Obv the vendor will need to be keen to sell (judging by the reduction in price, this would seem the case) so could be a margin for negotiation...gl0 -
My opening offer would be £100k, with the aim to get it for £105k.
Obv the vendor will need to be keen to sell (judging by the reduction in price, this would seem the case) so could be a margin for negotiation...gl
Seconded by me.I'm never offended by debate & opinions. As a wise man called Voltaire once said, "I disagree with what you say, but will defend until death your right to say it."
Mortgage is my only debt - Original mortgage - January 2008 = £88,400, March 2014 = £47,000 Chipping away slowly! Now saving to move.0 -
HaHa, I knew I would get the if you don't ask.. but just thought I would see the consensus I just didn't know if there was etiquette with these things lol!
@Peter314 - I think we are prepared to pay around the asking figure, however everyone want to get anything as cheap as they want, its human nature
@Bluemeanie Lol exactly, its just the stress of it all, we are actually in the process of buying another house but the survery report has found so many problems with it that were having second thoughts as we cannot afford the extent of repairs it will require and looking else where, I have been so stressed up to this point and now looks like we have to start the process again, and I have to break it to the estate agent that we are pulling out thus breaking the chain, we feel so bad but we just cannot afford to take it on
@redfordML wow £100k? Won't that just majorly get their back up and risk them saying they will not deal with us? But again if you don't ask..0 -
HaHa, I knew I would get the if you don't ask.. but just thought I would see the consensus I just didn't know if there was etiquette with these things lol!
@Peter314 - I think we are prepared to pay around the asking figure, however everyone want to get anything as cheap as they want, its human nature
@Bluemeanie Lol exactly, its just the stress of it all, we are actually in the process of buying another house but the survery report has found so many problems with it that were having second thoughts as we cannot afford the extent of repairs it will require and looking else where, I have been so stressed up to this point and now looks like we have to start the process again, and I have to break it to the estate agent that we are pulling out thus breaking the chain, we feel so bad but we just cannot afford to take it on
@redfordML wow £100k? Won't that just majorly get their back up and risk them saying they will not deal with us? But again if you don't ask..
Oh no, hope that hasn't left you to out of pocket? House buying is horrible really. I just had to remember that it will be worth it in the end. Hopefully it will be for you too.I'm never offended by debate & opinions. As a wise man called Voltaire once said, "I disagree with what you say, but will defend until death your right to say it."
Mortgage is my only debt - Original mortgage - January 2008 = £88,400, March 2014 = £47,000 Chipping away slowly! Now saving to move.0 -
Bluemeanie wrote: »Oh no, hope that hasn't left you to out of pocket? House buying is horrible really. I just had to remember that it will be worth it in the end. Hopefully it will be for you too.
Well we will be about £500 down, but rather that than the thousands we may have been down! I just feel so bad that we will be affecting other people in the chain, but you have to look after number 1. It was our dream home (in the fact that we loved it so much and on the face of things couldn't see too much wrong with it) but the survey disagreed lol!0 -
Is the property in Scotland?
If so, what's the Home Report valuation?0 -
Well we will be about £500 down, but rather that than the thousands we may have been down! I just feel so bad that we will be affecting other people in the chain, but you have to look after number 1. It was our dream home (in the fact that we loved it so much and on the face of things couldn't see too much wrong with it) but the survey disagreed lol!
I wouldn't worry about the others in the chain, like you say you have to look after number 1. And it is not like you did it on purpose. And definitely better to suck up £500 than thousands!I'm never offended by debate & opinions. As a wise man called Voltaire once said, "I disagree with what you say, but will defend until death your right to say it."
Mortgage is my only debt - Original mortgage - January 2008 = £88,400, March 2014 = £47,000 Chipping away slowly! Now saving to move.0
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