To offer or not to offer that is the question

wateva

Hi

Went to see a house today that has been advertised for two month's. It was relisted recently with a reduction in price. On viewing I had noticed the front outside exterior wall had rendering which seemed to have come away about 10-15cm. It was filled with an Asda carrier bag. I flagged this up with the estate agent she said she would ask the seller when she next speaks to him.
Secondly the bathroom showed signs of damp which I also flagged up. Aside this the bathroom and kitchen will need updating. All the other rooms look in good condition

What is niggling in the back of my mind is the reason for selling- estate agent states they are looking for a quick sale hence the 10k reduction in price, they are relocating to London. However a family member who I spoke to whilst viewing the house said they haven't found a property and will be moving locally.

Because of the inconsistent information, how would you advise I tackle the matter? Does a quick sale and reduction in price coupled with the reasoning given make you smell a rat?

eddddy

wateva wrote: »

...
What is niggling in the back of my mind is the reason for selling
...

Why? What scenario are you worried about?

It sounds like they're being cagey about where they're moving to etc - why is that an issue for you?

Do you think that they may not be serious about selling? That seems unlikely if they've just dropped the price by £10k.

Or do you think they're trying to sell the house quickly because it has serious problems? Your survey would check that.

wateva

My thoughts are of those as you described in your last paragraph. I suppose the survey would highlight key issues but I would have to consider the cost of paying for a full survey against the odds of pulling out if it presents many flaws.

PixelPound

Just because it has been lowered in price, doesn't mean you can't offer even lower. So if its a property you are really wanting, get a survey done and use this to back up a lower offer. It will at the very least tell you how much you likely need to do and so whether to walk away or not.

You say £10k reduction, but what was the original price, and what was the lowest a similar house has sold for in the area recently? A £10k reduction means nothing if the house down the road sold for less than the new price of this house, a couple of months ago.

Mickygg

There are people on here that say don't bother with surveys. I fully recommend a full buildings survey. I had one done and it saved me a few thousand pounds. It does seem like a lot of money, mine was £1k, but I personally would not buy a house without it.

In terms of the inconsistent info, I wouldn't worry about it. When it comes to buying and selling houses people lie all the time. I was lied to on many things when buying my current home. I have learnt now to do all my own checks and take what the EA or owners say with a pinch of salt. Anyone selling a house is moving for a reason, and you will never know if someone is moving because they are worried the house is going to fall down.

jacko74

I wish vendors in my area would reduce their asking prices after only 2 months!

I've seen plenty that have been on the market for anything up to 3, 4 even 5 years... just left sat there with no price reductions at all.