Help!!!!!! Received low offer

JLSD

Why don´t you make a counteroffer ? If the buyer is really interested she might go for it.

Marvel1

HappyMJ wrote: »

What could it achieve on the rental market?

I'd wait for a better offer.

I'd even pull it off the market and just let it out myself and wait a few years before considering selling. You can switch the mortgage to a BTL mortgage.

£65k maybe £400 a month is a 7.4% gross return which is very good. There's even properties for rent at £450 a month which would make it a 8.3% gross return.

I'd seriously consider doing that.

Let's not forget the fact it's not as easy as this e.g. receiving monthly rent.

alchemist.1

moneyistooshorttomention wrote: »

Out of interest - is that £5 pa set in stone? - as in whoever the leaseholder of your house is is unable to raise that amount for inflation or get themselves a "real" increase on it. Basically - just a peppercorn level and will gradually get to be even more of a peppercorn level with every passing year? or could that "leaseholder" turn round and send everyone letters saying "I've decided its now going to be £200 pa folks and that's that = no argument"??

It is limited to the figure in the lease on the old 999 leases i have seen. Very common in the Northwest.

A lot of management companies are buying these freeholds and charging ridiculous admin fees for permission to extend and other change you want to make to the building. Thats where the cost can lie with leasehold houses.

brit1234

jonnyspendthrift wrote: »

Hi All

My house is currently up for sale for offers over 65k. Now it has been up for sale since christmas weve had about 10 viewings and 1 offer (idiot dropped out as he, 'found a more suitable property after we'd paid solicitor fees). We've recently decorated the house and it looks radically different and as a result had two viewings within a week!!!! one gone ahead and one today. We've just received an offer as the house does look amazing in comparison. The only problem is that shes offered £62500, which is cheeky as it is offers over 65k. I want more as a house near us which is smaller, in worse condition has just gone for £63k. Now ours need little doing maybe besides a bit of glossing on the odd door. I feel like the estate agent is pushing me to accept when I want more. Our budget is tight and we paid 80k for the house and need about 66k to buy the house we want. Need some advice on how to get more money as the house is definitely worth it. As its got offers over 65k the estate agent says people will offer £65050 is this right?? Any advice would be appreciated. Thanks in advance

"Offers over" is an isn't turn off for many buyers I would not even look at a property like that as I would assume the seller is stubborn or unrealistic.

Its been on sale over 8 months without a buyer suggesting it is over valued. Taking that on board a 3.8% under the asking price is not a cheeky offer, it may be a good one.

What's the market like in your area?

ellie27

8 months and now you have an offer, sounds like you are lucky to be even with an offer.

Oo £65,000 and you got offered £62,500 sounds like a great offer to me!

After 8 months on the market I would have offered £60k and went from there.

Why not make a counter offer, eg 'we would accept £67k' (although I would tell you where to go as if you have had no sale in 8 months then you cant even get the £65k, so I wouldnt even go to £65k)

Are you in Scotland?

jonnyspendthrift

Wow lots of assumptions being made about the street, my position and my flexibility on price. I've had a long think and I am confident on what I am going to do. Yes its been on the market since christmas, we have already received two offers since then and this is good for two bedroom terraced houses in our town as there are many many houses like ours sat there.
I will be holding out for more as we have received an offer within a week of the house looking the way it now does which suggests to me we can get more.
Some like offers over some don't but were still getting offers and viewings, everyone can't be pleased, which is one thing I have learnt from this post. Please remember though and be sympathetic to the fact that I actually do need moneyto buy something else, not like I want more to be greedy, it's out of necessity!!
I did ask for the advice on how to get more but that seems to have been ignored. So could anyone help more with my original question

jonnyspendthrift

PasturesNew wrote: »

Is that you on Google streetview when the car went past? What's that machine for?

You are looking at the house two doors up, that is definitely not me and the machine was a jet wash lol.

Davesnave

jonnyspendthrift wrote: »

Please remember though and be sympathetic to the fact that I actually do need moneyto buy something else, not like I want more to be greedy, it's out of necessity!!

To be blunt, nobody cares about that. Why should they? You're in a competitive market place, not a good cause that needs public support.

No one here is morally judging you.

I expect many of us here have failed to achieve the price we wanted for a property, or were unable to raise the money to buy one we really liked. I know that's been me on a couple of occasions.

I got over it, because it wasn't a necessity; I just didn't get what I wanted.

ViolaLass

jonnyspendthrift wrote: »

I did ask for the advice on how to get more but that seems to have been ignored. So could anyone help more with my original question

I've seen advice on that in this thread, maybe you haven't read all the posts carefully enough. One post suggested that you make a counter-offer, for example.

J_i_m

Yeah to be fair it's not out of 'necessity' it's out of choice.

In my position, I'd be reluctant to push the boat out to fund someone else's upgrade/move if I felt what was on offer wasn't worth it.

In my opinion, if a property has been on the market for quite a while at the same asking price, then there is either something quite badly wrong with it or the vendor is being unrealistic on the price.