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Advice on first offer please
Comments
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Thank you Better Days. Our first offer was £248k so do you agree that £250k should be our final?
Also shoukd we submit today or tomorrow?
I'm prepared to move on0 -
I very much doubt that they'll be willing to accept £250K if they flatly rejected £248K. Sounds to me as though they're hoping for something in the region of £270-275K. If you're not willing to pay that (and no reason why you should if you think it's overpriced), then you will probably need to walk away (you could always come back with the same offer in a month or two if they're still struggling to sell...)0
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You may as well submit the £250k offer today as a final and best offer and leave it at that.
It can be hard to walk away from a property that you like and you have put some effort into costing repairs etc, but it is only by doing this you can be satisfied that you can afford what you are offering. Absolutely no point in upping your offer if you can't afford essential repairs and the extra SDLT. I do think you are right to be cautious, especially as older properties can cost more to maintain.
If the revised offer is refused make a diary note for yourself to give the EA a ring in say a month to see if anything has changed. And you never know, in the meantime you may well find something better.
It is a good idea to be alone in a garden at dawn or dark so that all its shy presences may haunt you and possess you in a reverie of suspended thought.
James Douglas0 -
Better_Days wrote: »Absolutely no point in upping your offer if you can't afford essential repairs and the extra SDLT. I do think you are right to be cautious, especially as older properties can cost more to maintain.
Absolutely, the cost of the work plus the SDLT would just make it too expensive, especially as he may be looking to drop no more than £5/6k as his price reduction in March.
We did have a 2nd property we also liked, not as big but more realistically priced.
We will submit the revised offer to show we are keen and leave it at that.
I very much appreciate that everyone has a minimum figure they need to move but It's very difficult when a vendor doesn't indicate to his EA what he'd like to get0
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