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negotiating an offer
bouicca21
Posts: 6,800 Forumite
I put in a deliberately low offer on a one off newbuild house. They came back to me with a figure £20k below asking price and I upped my offer to £20K below that.
I'm not sure that there is a lot of interest in the house - it's unusual for the area which is largely Edwardian. The best description of it would be 'bland'. I told the EA that I was reluctant to go higher as there was no data available by which to value it. (The rest of the development is c 1980 and rented, only one sale which was at auction last year. I took that price, and used zoopla to work out a price range for the house if completely refurbished, thinking that would be comparable to a new build. My offer is at the lower end of the zoopla range; what they want is higher than the zoopla range.)
EA suggested that if I were uncertain of the potential resale value of the house I should get a surveyor to do a valuation. Sounds sensible; it also sounds as though they are anxious for a sale. And of course it would cost me.
The other factor is that they are planning on selling the rented properties. All of which do need refurbishment. My newbuild which looks identical but has a different layout, a fully fitted kitchen (nothng fancy, Howdens) and solar panels, will probably provide the data that buyers will look at. So they have an interest over and above profit on one house to consider.
I'm not sure that I'm asking a question, just thinking out loud.
I'm not sure that there is a lot of interest in the house - it's unusual for the area which is largely Edwardian. The best description of it would be 'bland'. I told the EA that I was reluctant to go higher as there was no data available by which to value it. (The rest of the development is c 1980 and rented, only one sale which was at auction last year. I took that price, and used zoopla to work out a price range for the house if completely refurbished, thinking that would be comparable to a new build. My offer is at the lower end of the zoopla range; what they want is higher than the zoopla range.)
EA suggested that if I were uncertain of the potential resale value of the house I should get a surveyor to do a valuation. Sounds sensible; it also sounds as though they are anxious for a sale. And of course it would cost me.
The other factor is that they are planning on selling the rented properties. All of which do need refurbishment. My newbuild which looks identical but has a different layout, a fully fitted kitchen (nothng fancy, Howdens) and solar panels, will probably provide the data that buyers will look at. So they have an interest over and above profit on one house to consider.
I'm not sure that I'm asking a question, just thinking out loud.
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