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'Offers Over'
cramg
Posts: 88 Forumite
Bit of advise on how to play this one:-
We are very interested in a property that is priced 'offers over £375K'. However, 12 Months ago when it first came to market it was marketed for offers over £400K'. Then in April 2012 reduced to offers over £385K and in August 2012 reduced again to offers over £375k.
We feel £350k is a fair price, opening with around £338K.
Of course, they may turn round and completely ignore our offer as it is under what they want.
How would you go about this one?
We are very interested in a property that is priced 'offers over £375K'. However, 12 Months ago when it first came to market it was marketed for offers over £400K'. Then in April 2012 reduced to offers over £385K and in August 2012 reduced again to offers over £375k.
We feel £350k is a fair price, opening with around £338K.
Of course, they may turn round and completely ignore our offer as it is under what they want.
How would you go about this one?
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Comments
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Make an offer. If you don't ask you'll never know.0
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wait a few months and it might be offers over 300k:D0
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yep, make an offer and go from there. "Offers over" is at best hopeful and at worst foolish, a sensible buyer totally ignores it. Some sellers may have an absolute floor eg their mortgage value and that's why they try this phrase but it's up to you to offer what you want to pay and up to them to refuse if they want/have to. If their mortgage is over what someone will pay for it they are in the wonderful world of negative equity, which is their problem, not yours.
Good luck.I'm a qualified accountant but please make sure you get expert advice as any opinion is made in a private capacity.
"A goal without a plan is just a wish" Antoine de Saint-Exupery
Mortgage overpay 2012: £10,815; 2013: £27,562
Mortgage start £264k, now £232k0 -
A house is only worth what someone is prepared to pay for it...make the offer and see what happens...
If someone else wants it more and is able to make a better offer then so be it...
Are you in a good position to move quickly if thats the case then the vendor may have more consideration for your offerfrugal October...£41.82 of £40 food shopping spend for the 2 of us!
2017 toiletries challenge 179 out 145 in ...£18.64 spend0 -
Make the offer that you think it is worth. We offered 20k under for our new property and ended up getting it for 14k under. My DH says if they are not offended by your first offer, then you've gone in too high
First baby due 3/3/14 - Team Yellow! Our little girl born 25/2/14
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