offer refused

bloolagoon

Evening all

I have had an offer of £310 refused on this

They bought in the down time and other than some small enhancements (kitchen mainly) haven't done any work from what they paid.

I do not know how to look at prior buys, what they added etc.

Can anyone help?


Also the Estate Agent said there is another local one with 4 beds and ensuite/dressing room coming to the market next week for £100K less.

Do I up my offer or wait?

My heart loves it, but it's more area than home.

Advice even if not what I want to hear is appreciated.

DRP

bloolagoon wrote: »

Evening all

I have had an offer of £310 refused on this home

http://www.janforsterestates.com/property-details/tyne-wear/tynemouth/loughborough-avenue

They bought in the down time and other than some small enhancements (kitchen mainly) haven't done any work from what they paid.

I do not know how to look at prior buys, what they added etc.

Can anyone help?


Also the Estate Agent said there is another local one with 4 beds and ensuite/dressing room coming to the market next week for £100K less.

Do I up my offer or wait?

My heart loves it, but it's more area than home.

Advice even if not what I want to hear is appreciated.

if it has only just come onto the market, vendors unlikely to want to drop much from their asking price...

Largely irrelevant what the vendor paid (aside from the neg equity angle) - how is it priced relative to other similar SOLD properties? ie, does the vendor have good reason to think he will get more than your offer for the house?

No one here knows whether you can afford to go higher and whether you're planning to stay there 25 years etc which are important considerations


Find the postcode and find out what it and other similar houses nesrby sold for (houseprices.landregistry.gov.uk/sold-prices/)

Duskylady

Same agent has a house on down the road 4 bedroom for 230. Just had a check of sold prices on the surrounding streets and this seems v expensive for a 3 bed semi

ACG

What they paid for it and what they have done to it is no concern of yours.
what its on for and what you will offer is your concern.

Set yourself a budget, go to it. If theyre still declining then there isnt much you can do.

bloolagoon

Thanks all, I think I may have got a bit bogged down with they bought and updated recently.

I was really hoping to find what they bought recently with a listing and photos so I could see work done, but I suspect that isn't possible.

I genuinely appreciate your help and input on this, so sincere thanks.

bloolagoon

DRP wrote: »

if it has only just come onto the market, vendors unlikely to want to drop much from their asking price...

Largely irrelevant what the vendor paid (aside from the neg equity angle) - how is it priced relative to other similar SOLD properties? ie, does the vendor have good reason to think he will get more than your offer for the house?

No one here knows whether you can afford to go higher and whether you're planning to stay there 25 years etc which are important considerations


Find the postcode and find out what it and other similar houses nesrby sold for (houseprices.landregistry.gov.uk/sold-prices/)

I can go higher, affordability isn't an issue but don't want to over pay;

I will stay 10 years max, then downsize. I will also need to exentend over the garage for a 4 bed, that I currently have so need to add £35K to the price and keep in reserve to fund.

I guess a lot depends on the 4 bed with ensuite waiting to come on to the market as on paper is all done with no extentions

[Deleted User]

bloolagoon wrote: »

Also the Estate Agent said there is another local one with 4 beds and ensuite/dressing room coming to the market next week for £100K less.

Do I up my offer or wait?
.

Why not wait, look at the other (cheaper) house and then decide what to do? If the house should sell in the meantime, view it as "that's life".

tim123456789

bloolagoon wrote: »

Evening all

I have had an offer of £310 refused on this home

.

I'm not surprised,

Did they direct you to the local toy shop?

_Andy_

bloolagoon wrote: »

I have had an offer of £310 refused

I suggest going back with a counter offer of £310.23.

eddddy

bloolagoon wrote: »

Evening all

I have had an offer of £310 refused on this home

-snip-

Hi bloolagoon

Just a slight caution...

You quoted the EA's URL (link to their site) in your post - so the EA is quite likely to find your post. (Either by using a search engine, or by looking at what's called "referring URLs" for their site).

Based on the other info you give (value of offer etc), they can probably guess who you are.

So it may not be sensible to discuss your bidding strategy here.

It may also be better if the EA didn't know details of your current mortgage, savings etc, as documented in your sig.

(I don't want to cause you angst - but you might also prefer the people in the EA's office not to know about your 12 year old niece, your elderly relative, and your family's redundancy history - from your previous posts. Hopefully, you have been bearing your privacy in mind when posting.)

Maybe you could edit out the URL from your post, if you're worried about this.

bloolagoon

Thank you, sound advice taken with sincere thanks