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About to make an offer...
kayfaz
Posts: 95 Forumite
Hi all,
Need your opinions again please
First of all here's my situation. I have a 2bed house that I am remortgaging to BTL from CTL and taking some equity out to help with the deposit for a new purchase.
I already have a tenant there and currently living with parents while hunting for a property.
We had a look at a 2bedroom flat today and fell in love it with instantly! It's advertised at £200k, but was sold STC in September which fell through last minute. Asked the vendor the reason for this, he said due to financial reasons (should I believe him? Does it matter?). I asked the vendor what would be a reasonable offer for him, he said if I offered him £190k within a week he would shake my hand on it. I asked the estate agent how much it was sold for in September, he said £185k.
The vendor needs to sell urgently as he is moving to US and the sale of this property is holding him up. But he confirmed there is no chain tied to the property.
Am I considered "chain-free" ?
In your opinion, will an offer of £180k be considered time-wasting?
TIA
Need your opinions again please
First of all here's my situation. I have a 2bed house that I am remortgaging to BTL from CTL and taking some equity out to help with the deposit for a new purchase.
I already have a tenant there and currently living with parents while hunting for a property.
We had a look at a 2bedroom flat today and fell in love it with instantly! It's advertised at £200k, but was sold STC in September which fell through last minute. Asked the vendor the reason for this, he said due to financial reasons (should I believe him? Does it matter?). I asked the vendor what would be a reasonable offer for him, he said if I offered him £190k within a week he would shake my hand on it. I asked the estate agent how much it was sold for in September, he said £185k.
The vendor needs to sell urgently as he is moving to US and the sale of this property is holding him up. But he confirmed there is no chain tied to the property.
Am I considered "chain-free" ?
In your opinion, will an offer of £180k be considered time-wasting?
TIA
0
Comments
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If the EA is lying about the reason for the sale falling through you will have a claim against them. In any case, be diligent and get a proper survey.
You have no chain so are chain free.
I'd probably go £175k as an opening offer, maybe less given they're desperate to sell...0 -
If it was only sold in September, make sure your potential new lender knows about this - some won't offer unless it's 6 months since the last sale.0
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The sale fell through in September as I read it.0
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Put in a low offer. You can always raise it."Real knowledge is to know the extent of one's ignorance" - Confucius0
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