Advise and Help needed on house Purchase

sopc

Hi All,

This is my first post so hi :-). Hubby and I (two kids, two dogs and a cat ;-) are looking to move. We bought our current house two years ago, which we bought to refurb and make some money on it. We LOVE our house but for schooling reasons we want and need to move! Our house has only been on he market for 2 weeks and I'm already pulling my hair out (i am THE most impatient person in the world so house moving is torture!). We have sofa had 4 viewings:

1 - loved it but not quite big enough (its a period property with 5 bedrooms on at £510k so not quite sure what they were after for £500k but hey.
2- loved it but unsure on the road, it's fairly busy at times.
3-same as above
4 - loved it, came back for viewing 2 and 3 but ideally would like to be in the next village which is where we are looking for but it's very popular and very expensive so you pay more than the town we are in at present (albeit a lovely town and a 2 mins drive from their preferred).
5- only yesterday so unsure yet - fingers crossed :j.

So the place we are after is a four bed detached which an old couple live in and have for 40 odd years, its clean and liveable but needs completely renovating, a loft conversion to create another bedroom (as 4th is no more than a box room/office) and ensuite the garden ia amazing but the front looks awful so new windows, door, poss integral garage converting into a room, rendering etc. so LOTS of work but huge potential. It has been on the market since October last year at £750k and last week went down to £735k. Our friends have bought a very similar house two weeks ago which was on at £699k and the got it at £675k. The house we want is way overpriced (we know the area well and baring in mind the place our friends have bought which is 10 houses away on the same road! The agents that are selling ours say its on at too much and we mentioned we think its worth £650k and they agree.

The agents that are selling the house we want say it's not worth putting in such a low offer when ours isn't under offer which I totally get but what are the chances of the sellers taking an offer of £650 - £660k when their agents have got it on at £735k?? Do you think we would be laughed at? The owners husband has gone into a nursing home :-( and she needs to move to get an apartment thats being built 100 yards away and it's been on for 5 months.

Thanks in advance for your advise.;)

kimbers84

As the saying goes 'the lower you start, the lower you finish'. Why not offer it? They can only say no so you've nothing to lose! On the plus side they aren't using it to buy somewhere bigger - however if like my grandparents when they moved they were off the mindset & were adamant you get the asking price!

I'd wait till I was in a stronger position before offering then you'll be seen as serious buyers & more room for negotiation!

thequant

sopc wrote: »

Hi All,

This is my first post so hi :-). Hubby and I (two kids, two dogs and a cat ;-) are looking to move. We bought our current house two years ago, which we bought to refurb and make some money on it. We LOVE our house but for schooling reasons we want and need to move!

So the place we are after is a four bed detached which an old couple live in and have for 40 odd years, its clean and liveable but needs completely renovating, a loft conversion to create another bedroom (as 4th is no more than a box room/office) and ensuite the garden ia amazing but the front looks awful so new windows, door, poss integral garage converting into a room, rendering etc. so LOTS of work but huge potential. It has been on the market since October last year at £750k and last week went down to £735k. Our friends have bought a very similar house two weeks ago which was on at £699k and the got it at £675k. The house we want is way overpriced (we know the area well and baring in mind the place our friends have bought which is 10 houses away on the same road! The agents that are selling ours say its on at too much and we mentioned we think its worth £650k and they agree.

The agents that are selling the house we want say it's not worth putting in such a low offer when ours isn't under offer which I totally get but what are the chances of the sellers taking an offer of £650 - £660k when their agents have got it on at £735k?? Do you think we would be laughed at? The owners husband has gone into a nursing home :-( and she needs to move to get an apartment thats being built 100 yards away and it's been on for 5 months.

Thanks in advance for your advise.;)

Sounds to me you're looking to make some money by buying another doer upper and are looking to bulk up your margin by fleecing a vulnerable old couple.

tigsly

Postcode - so we can 'spy' the hosue..

I must admit dropping from 725 to 650 - feels a bit drop to me.. Depending on where the property is - if they 'sit there' long enough teh prices may come up to match thier asking price?