What is a reasonable offer?

mrginge

The house is at least 20k overpriced even without any work so you should start at at 140k.

ValHaller

SPELLKASTER wrote: »

And there is no current combi boiler as the current heating runs of an old back boiler in the fireplace.

Lack of a combi of itself is a terrible reason to get rid of a back boiler.

Back boilers can be very good if the indirect feed to the hot water cylinder is fully pumped or terrible if it is gravity circulation.

Given the cess pit and the rural location, who knows how stable your mains water pressure will be. If it is low or unstable a combi boiler will be total grief.

SPELLKASTER

As far as I know the vendor has rejected a low offer of around £160K.

I will now more tomorrow when I speak to the estate agent.

I would personally offer around £163, but I wont go any higher.

The vendor should understand that the current market and the fact that around £10K needs to be spend on modernisation alone.

The first thing that would need to be done is a new central heating system and combi boiler which would cost approx £3000 (we've already had this quoted by a friend who is a registered gas corgi fitter).

Secondly the rewiring would cost approx £2500.

And we dont know what condition the sesspit tank is in either.

Its not a rural location, but its in an area which is ideal for us.

Will know more tomorrow, and also how my viewing for my house went yesterday.

mrginge

Why don't you wait until you get an actual offer on your current house before picking the wallpaper for the new one?

At the moment you have no idea whether a rewire and new boiler are required, tbh i would doubt whether either are. Sounds like you are just looking for excuses to offer low.

makeyourdaddyproud

jimbog wrote: »

As someone said elsewhere - if the vendor isn't offended by your offer then it was too high

Absolutely true. I've stated that many times.

But

Survey first, this will give you a deeper insight into what needs doing.

Avoid those hidden nasties!

Visually inspect water pressure, roofing timber, ask about drains and restrictive covenants.

Old_Git

the asking price may well reflect its condition .

Dimey

I know people are saying wait till your own house is under offer before putting your offer in on the bungalow.

But what if someone gets in first? They've already had the low £160k offer. Can you ask the EA how much interest is out there? How many others have seen the bungalow?

What if they jump at your £163k offer and are happy to wait for you? I hope you've charmed the vendor with your winning personality !

ess0two

Dimey wrote: »

I know people are saying wait till your own house is under offer before putting your offer in on the bungalow.

But what if someone gets in first? They've already had the low £160k offer. Can you ask the EA how much interest is out there? How many others have seen the bungalow?

What if they jump at your £163k offer and are happy to wait for you? I hope you've charmed the vendor with your winning personality !

Tough luck innit.

Dimey

ess0two wrote: »

Tough luck innit.

Sure - which is OK if you're just doing a project and can move on to the next bargain.

But I thought the OP really wanted this place so worth being a bit more flexible on his offer to try to get it.

ess0two

Dimey wrote: »

Sure - which is OK if you're just doing a project and can move on to the next bargain.

But I thought the OP really wanted this place so worth being a bit more flexible on his offer to try to get it.

Been there and got the t shirt,misses was gutted someone else in a better position got the property,they'd taken our offer provisionally upon us selling.

Strange thing is a week later we sold.