What to offer- stubborn seller Scotland

mcowan77

Hi

Sold my own house and have a put an offer in for a house.

The house has been on the market for 18 months with no offers.
It's on at offers over 187k. The home report valuation from October 2013 is £195k.
I offered 175k, knocked back so I went back in at £180k.. Knocked back again. This was 2 weeks ago. Seller wants £190k.

They paid 185k in October 2007 ( think it was a repo)

It's still getting viewers but no offers.
The home report will have to be refreshed but this won't be done until they accept a offer.

Any advice???

Cheers

Pixie5740

If you really want the property, and the seller is in no hurry to sell then it sounds like you'll need to offer £190k. If you don't think the property is worth £190k then walk away and find another property.

Rollinghills

Some sellers just don't need to sell / cannot afford or don't want to make a loss. Give the maximum offer you think the house is worth to you, wait for a couple of weeks and if no luck then move on. You can try to reason with the EA (they want to sell it) but in the end if the seller is not willing to reduce price then that's it.

davidmcn

As above, really. In any event sellers tend to be reluctant to accept less than they paid for a property, especially if that view is backed up by the HR valuation.

mcowan77

Thanks

Do you think it's worth creeping up towards our max or just go straight to it?

Beancounter

Tell your solicitor to make an offer stating it is your highest and final offer. I'm guessing the seller won't want to let it go that far from valuation price.

Not sure how upto date that valuation might be though.

mcowan77

That's my problem. What will it value at now!

Pixie5740

What about making an offer "subject to survey" since the Home Report is from 2013? Your solicitor should be able to advise you about that.

ReadingTim

mcowan77 wrote: »

Thanks

Do you think it's worth creeping up towards our max or just go straight to it?

I'd be tempted to make an intermediate offer over £187k just to see if they bite - assuming they don't go up to £190k subject to the usual caveats and on the condition they stop marketing it. Also, make it clear that you're not going over £190k - either by simply saying no, or giving the impression that getting to that figure was a real struggle (even if it wasn't) and you'll be eating baked beans in an unfurnished house for years afterwards....

davidmcn

mcowan77 wrote: »

That's my problem. What will it value at now!

Why not just assume it will be the same? It would be unusual for something to have fallen in value over the last 18 months, but you know more about the area than we do.

comeandgo

Get your own survey done to see what it's worth.