first offer

bclark

Can I just ask how you know they have done nothing to it based just on Rightmove pictures?

For all you know it was sold at a lower price because the roof was shot or it was riddled with damp and the current owners have spent a fortune sorting those problems out. Maybe it was sold on the cheap because the previous owners were desperate to sell?

You should value the property based on how much you like it and how it compares to other comparable properties on the market, not on how much the owners paid.

Dan-Dan

bclark wrote: »

Can I just ask how you know they have done nothing to it based just on Rightmove pictures?

For all you know it was sold at a lower price because the roof was shot or it was riddled with damp and the current owners have spent a fortune sorting those problems out. Maybe it was sold on the cheap because the previous owners were desperate to sell?

You should alue the property based on how much you like it and how it compares to other comparable properties on the market, not on how much the owners paid.

Believe me , with the short gap between sales , and the fact that i have been round there twice with my wife and once with my builder , plus the fact all rooms are identical to the pictures from the last sale , along with the fact we have asked if any work has been done and have been told no..

The point is , if i over pay for this property plus spend thousands dong what has to be done , i will struggle to ever recoup what i pay ,in what world would anyone honestly buy something knowing the minute you obtain it , its worth less than what you paid for it..?! (dont include new builds and new cars in that!)

Dan-Dan

bclark wrote: »

Maybe it was sold on the cheap because the previous owners were desperate to sell?

the property was marketed at 170k offers last time out and went for 175k..

We do like the property but we know others will come along if we have to miss out on this one

phoebe1989seb

Dan-Dan wrote: »

Believe me , with the short gap between sales , and the fact that i have been round there twice with my wife and once with my builder , plus the fact all rooms are identical to the pictures from the last sale , along with the fact we have asked if any work has been done and have been told no..

The point is , if i over pay for this property plus spend thousands dong what has to be done , i will struggle to ever recoup what i pay ,in what world would anyone honestly buy something knowing the minute you obtain it , its worth less than what you paid for it..?! (dont include new builds and new cars in that!)

Well, I for one certainly wouldn't want to pay more than £175/176k in your shoes if what you say above is correct.......in fact it really gets my goat when people try to make money on a house that they've done nothing to! Not that I'm bitter (much, LOL!), but having been stupid enough to be caught out paying too much for a house than the two previous owners had done nothing to, then after spending a fortune restoring the place still failing to get back what it originally cost us, I hate to see anyone else stitched up as I feel we were

I do hope they see sense and accept your offer Dan-Dan - fingers crossed for you

Dan-Dan

I can understand wanting to make their money back , thats fine , we want the house enough to pay them 176k to cover selling fees , as we can see ourselves living there as a family , but i must not let my heart rule my head

but if they really have told their EA they wont take less than 180k then i can see why its still on the market , there is a ceiling price here , and if we pay anywhere near the AP , we will smash through it plus the works need doing = no upsizing in the future

Poppy9

The house may have increased it's value over last 2 years based on other factors aside from work done.

A change to local amenities, catchment school becoming more desirable, planning permission for a new estate approved/disapproved, improved public transport or an outward ripple from being on the fringe of a desirable area, all can push up prices against the general market trend.

You have to research how much similar houses in the same area are selling for. Don't be foolled by deco. match floor space, condition of bathroom/kitchen. Has the house been rewired, does it have dedicated parking, are gardens on a par and which way does the garden face.

Re changing conservatory. My 1950s house was built with a sun lounge across the back of kitchen and dining room. Glass roof and full width patio doors.

We wanted to remove glass roof and replace full width patio doors with French doors on back of dining room and window and back door on kitchen. We opened up internal walls to the sun lounges and replaced glass roof with tiled roof. We didn't need planning only building regs. We had to second skin internal side walls to provide support for the new roof.

Co-incidentally new neighbours moved in next door while we were doing the work and they put a sky light in the tiled roof that the old neighbours had put up to let in more light. This had been suggested to us but after living for 2 years with the glass roof (while we considered how we wanted to reconfig. the kitchen/dining room) we knew we didn't want one. Back of my house faces South West and the dining room was so hot with the glass roof the whole room was unusable in Summer. Even now in Winter as the sun is lower in the sky it provides suffer heat we don't need the radiator on in there. Only when it's very cold in the evening do we need some heat in there - the front of the house needs heat all day in winter.

So I suggest if you buy you live with the conservatory for a year and see how hot/cold it is before you start changing it.

Dan-Dan

Thanks Poppy , that post is really helpful , and i appreicate you taking the time to reply

We were talking last night (the wife and i) we are doing out very very best to try to make the right decision and as its an inheritance thats funding the deposit we feel under even more pressure to but the RIGHT HOUSE , which in a strange way , may be skweing our judgement on this one, as if were fixated on what they paid , even though , as above all sorts of factors could have effeceted the previous sale , previously it could have been under offer at 185k , fell through , went to next highest at 175k , i dont know , i think im trying to say , we are doing our best not to hang our hat on the last price paid and the lack of love the house has had since , but i know we have to look past that!

lots to think on , thanks all

Dan-Dan

So.....we know the area VERY well , we have people we know living in the next street , one of my brothers lives 200 meters away , we know the schools , we know how the house stacks up with its immediate neighbours as in garden condition etc , have checked the wiring etc already..

anyway , on this basis , we have talked and agreed that we are willing to offer what the current vendors paid , 175k ,which we feel , is reasonable , if this is rejected , we will leave it on the table for ashort while , and continue our search

DaftyDuck

Quite correct. You have done your homework, you know what the house is generally worth, you know what the house is worth to you, and you have a sensible approach to negotiating.

You're also aware that some people believe their house is "just it", a "treasure", that they know "exactly" what their house is worth, and that the new carpet they've laid in the hall has increased their house price by 8% in two years in a declining market. They are deluded!

All you now need to do is calmly stick to your guns, not become emotionally involved, and not suddenly change your mind for no reason because of the stress. Or because of the drink!

There really is always another house round the corner...

It's great to see someone with sense. Stick to your guns, and good luck. :T

laidbackgjr

If you jump straight from an offer of 165k to 175k, the vendor will quite likely think you have more money still in the pot and I suspect will be unlikely to accept 175k. By offering so low initially you've made the path to agreeing a price more difficult.