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Help!! just had an offer on my house should i accept??
sandhawk2701
Posts: 155 Forumite
The house went on the market at £220k at the begining of May. There was no interest at all. Dropped the price to £209,950 last Wednesday and had the first viewing on Saturday.
EA came with an offer of £197 I said no.
Couple of hours ago he came back with an offer of £201.
Buyer is an invester, cash buyer keen to proceed.
My situation ......
divorced 1year ago, consent order argreed that youngest reaching 18 house to be sold.
Ex to pay me his half of mortgage payments, buildings insurance and life insurance out of his equity. works out to be just few pounds over £300pm.
I have paid all of these in full since we split 3 years ago.
outstanding mortgage is £86,000
he would get a 45% share Id get 55%.
I ideally would like to buy a 2 bed property in the area but cant work out what I need to pay out for when buying myself.
i have been agreed a mortgage in principle of £86k but not sure what price range flats i should be looking for.
Can anyone help?
EA came with an offer of £197 I said no.
Couple of hours ago he came back with an offer of £201.
Buyer is an invester, cash buyer keen to proceed.
My situation ......
divorced 1year ago, consent order argreed that youngest reaching 18 house to be sold.
Ex to pay me his half of mortgage payments, buildings insurance and life insurance out of his equity. works out to be just few pounds over £300pm.
I have paid all of these in full since we split 3 years ago.
outstanding mortgage is £86,000
he would get a 45% share Id get 55%.
I ideally would like to buy a 2 bed property in the area but cant work out what I need to pay out for when buying myself.
i have been agreed a mortgage in principle of £86k but not sure what price range flats i should be looking for.
Can anyone help?
SW -5, -1,
0
Comments
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£300 x 12 x 3=£10,800.
201k-86k=115k. If you get 55% that is 63.25 + the 10.8 you are owed = 74k
Lets say selling costs are £1k legal and estate agents fees of £2,400 (assume 1% + VAT) that would be split between you, so your share would be £1.7k.
74k-1.7k=72.3k.
Add that to your prospective mortgage of 86k and you have 158.3k. You probably need to allow for moving costs and the legal costs of buying and mortgage application fees and surveys. So you are talking around 150k.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Should I accept it ? Yes that's an offer very close to the asking price by what sounds to be a proceedable buyer0
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Me? I'd grab it with both hands!The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Thank you for your replies. That is most helpful. Spoke to the ex earlier and he said push for 205k.... i think its greedy as he isnt working, living off the state and still an alki but thats his choice and I just want to do whats best for me and my son (18). I have worked damn hard to keep the house going and really cant wait to shut the front door on this house for the last time knowing that my whole life is out there in front of me .
There isnt much around for £150k 2 bed round here but I'm sure we will find something!!SW -5, -1,0
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