Offer on a house neither accepted or rejected

patricia..xx

Well another house has come up, with loads of potential. Smaller but 30% cheaper. It would be a lot of work but a similar sized house was up last year before we were looking properly and was lovely once an extension and loft conversion had been added.

We will definitely look at the other one, but most likely put in a another bid on this one just in case they bite.

pinkteapot

patricia..xx wrote: »

Well another house has come up, with loads of potential. Smaller but 30% cheaper. It would be a lot of work but a similar sized house was up last year before we were looking properly and was lovely once an extension and loft conversion had been added.

We will definitely look at the other one, but most likely put in a another bid on this one just in case they bite.

Although each house has an approximate "value", based on what similar things have sold for, you do get some sellers who simply want more, for whatever reason (greed, trying to sell for what they "need" to buy what they want).

There's only so much you can do in these situations. You can't force them to accept reality. All you can do is either walk away, or offer a bit more than you think it's worth if you really want it (eg if its been ages and nothing else has come up).

If you're only going to live there for five years, then I wouldn't go higher, in case you can't sell for what you paid.

If it's a long-term house that you could be in for 20 years, then I'd be more relaxed. Prices change by so much over the long term that a few £k extra now makes very little difference.

Good luck with the viewing on the new house.