Help me with a sensible offer on a house i like.....

boam

Hi,

I have seen a house i like, from talking to some of my friends i have since found out that the house has been up for sale for over 2 months, and has attracted a lot of viewings and a few offers, one which was the full asking price but they pulled out....From talking to the estate agent yesterday when i viewed the property with a friend of mine, the estate agent has said that there were other offers that was near the asking price but they didnt get accepted, now i am not sure why these was not accepted, maybe the buyer isnt in a strong position or didnt have the money in place, the house is up for £330.000 and realistly needs about 40-50 thousand spend on it to make it a nice family home as the electrics are about 50 years old, damp,heating and water system needs new rads,boiler,house needs new rear windows(and front ones done at some time) needs new kitchen, 2 new bathrooms,and general updating. Now i am in a strong position as already sold my place so i was wondering whether to go in at £300,750 and see how the ground lays, the house next door sold for £345,000 in March 2006 but i assume that was in a livable condition, unlike this house.....i am going back down the road late with nethouseprice list of sold propertys to see similar, but any ideas whether that offer is too low or what?

david29dpo

from what you have said, your offer sounds fine to me. try it, you have nothing to lose.

Gold_Shogun

Hi Boam,
It might help to know what area the property is located in, age of house, and how big/many-bedrooms.

golfnutt

That seems a very reasonable offer considering the ammount of updating required. Though you have to bear in mind that the valuation would be for the current state of the property.

boam

Well it all went pete tong as they say in the Trade, to cut a long story short rung up, spoke to the negotiator, offered £300,750 she said that it wasnt worth putting the offer in as they had already had a offer a while ago for £320,000 and it wasnt accepted, spoke to the missus, she said, what i already knew that the Estate agent has to put that forward, rung back and went in with Size 12's and offered £310,000 she said that she wouldnt accept it again, but i told her to put the offer through anyway, this got declined, after speaking to the negotiator she said that they have a offer near the asking price that the vendors are willing to wait for as they are not in a real hurry to sell(Different from what the Estate Agent that showed me around said) so i says, well there are exact same houses, in this road that was done up and sold in December\January this year for about £40 Grand less and didnt need loads spent on em to make em livable and i think it is overpriced for the amount of work that needs doing.
So to summerise i said, i can give £310,000 in 2 weeks, and i was told no, that the vendors will wait to get nearer the Asking price although they wont wait forever for the purchaser to sell her home.

4 Bed Edwardian Semi Detatched House.

61 Dunvegan Road,
Greenwich,
London,
Greater London,
SE9 1RZ £306,000
Terraced
Freehold
Not New Build 31-Jan-2007
Map (SE9 1RZ)

65 Dunvegan Road,
Greenwich,
London,
Greater London,
SE9 1RZ £295,000
Semi-Detached
Freehold
Not New Build 15-Dec-2006
Map (SE9

65 Dunvegan Road,
Greenwich,
London,
Greater London,
SE9 1RZ £295,000
Semi-Detached
Freehold
Not New Build 15-Dec-2006
Map (SE9

boam

Just a quick update, we viewed the property again on Thursday, block viewing 2 other couples, house still looks lovely although needs work, my partner got a phonecall on Friday asking what she thought, she said yeah she
still liked it and would offer £316,500 but said that if that was not accepted then we would be walking away.......a few hours went by and they accepted, now we got the house that we wanted, yes we have probally upset the the potential purchaser who offered near enough the asking price but had not sold her place.......

phlash

There probably wasnt another potential purchaser.

Sounds like the EA was trying to play the age old game of upping your offer.

cattie

I know this road very well & the price the house is up for is very reasonable for that type of property. The houses in Dunvegan Road are not all the same. The one's further down the road going towards Well Hall are a smaller kind of house.

If a done up house sold in December for 295k then it was a real bargain, believe you me. Because of it's proximity to the station this is a very popular road & it's unusual for houses to hang around for long.

boam

cattie wrote: »

I know this road very well & the price the house is up for is very reasonable for that type of property. The houses in Dunvegan Road are not all the same. The one's further down the road going towards Well Hall are a smaller kind of house.

If a done up house sold in December for 295k then it was a real bargain, believe you me. Because of it's proximity to the station this is a very popular road & it's unusual for houses to hang around for long.

Yes it is one of the big ones, the Edwardian Style(Semi)........4 Beds but as with a lot of these big houses a old person lived in it so it needs a lot of work......It is on the side of the railway line, so i am not sure if these are cheaper, but from what i have heard, some of the houses down that road they make one of the bedrooms a massive bathroom hence making it down to 3 beds, we will probally go into the loft making it 5/6 bedrooms not sure yet, count the pennys after we have paid mr brown nearly 10 big ones in stamp

cattie

Good luck with the house & the work. I'll keep my eye out for you when I go by & maybe even give you a wave.