£250k offer on £270k house?

phoebe1989seb

We have previously had an offer of £244k accepted on a house that was on for £280k (admittedly it was a five bed, grade 2 money pit in need of 100s of £k spent on it). We decided not to buy in the end and eventually it sold for just over £180k, so it's definitely worth a punt.

We've also been on the receiving end of low offers when selling close to a SDLT threshold and have previously accepted an offer of £250k on a house priced at £270k. We weren't *desperate* to sell, but were realistic in what we could achieve (even though we'd spent £40k+ on restoration works (period house) and weren't prepared to chase the market down) - at the end of the day it can all boil down to the vendor's circumstances.....how keen they are to sell and how realistic they are, so often it is worth putting in a cheeky offer and see how it is received

PasturesNew

I'd have not arranged a viewing. I'd have put it on the "maybe" list. You're not able to move until yours is sold .... and by having a viewing on day 1 of being on the market makes the owners think it's uber-popular, so less inclined to go with an offer in 2-3 months if yours sells and theirs hasn't.

Mallotum_X

If other second hand houses are240-250 then that's probably the price range for this one. The 270 is just optimistic.

Clearly it depends on the local market but in the majority of the country that's not going to sell at over 250.

retepetsir

We are in an expensive area but thanks, will certainly keep an eye on it and see if it sells. If it's still there after a couple of weeks we might make an offer

andy.m_2

you'd have to be a bell end to pay anything in the £250->269k price range unless the property is particularly unique or niche in some way.

imo £270k is saying I want 250 so don't take the pish

492800

and it is not unknown for an estate agent to price a £240k house at £270k, so you offer £250k and you feel like you are getting a bargain.

You may be getting money off the price, but it could still be over priced.
Like the others say, do your maths, and good luck

DRP

Bazshawkins

Tancred wrote: »

If the vendor needs a specific price to be achieved to enable his move, then he'll hold out.

And there is no gaurantee he'll ever receive an offer that enables him to move.

Yorkie1

Do you need to sell yours in order to buy a new place?

If so, it is highly unlikely that any offer you make will be accepted as you are not proceedable. The best you are likely to be able to ask them to do is note your interest.

retepetsir

Yorkie1 wrote: »

Do you need to sell yours in order to buy a new place?

If so, it is highly unlikely that any offer you make will be accepted as you are not proceedable. The best you are likely to be able to ask them to do is note your interest.

We do, although having only gone on the market last Friday we've already had 7 viewings and two people have put in reasonable offers today. I do realise that's the case so won't jump in with a serious offer until we have a confirmed buyer