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Reducing my offer after making an offer
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You sound like a bit of a nightmare to deal with!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Mouseprice values are estimated from the last sale value. They have no direct knowledge of works which may have been undertaken since the last sale - extensions, renovations etc. The fact Mouseprice estimates £540k and the asking price is £629k doesn't mean that much, particularly if the last sale was a relatively long time ago. However, recent sales provide a very useful guide to the state of the local market.
If you had a survey done, surely it came back with a valuation?
You need to do more homework in advance as you risk getting a reputation as a timewaster.1 -
Thank u. Just found out that the seller has not accepted the offered value.
Have also made an offer on another property in ruislip. 5 beds at 615k (was on sale for 629K). Offer has been accepted. Own Survey done. 30 page Report suggests some work to be done before contract is signed. Cannot get a quote from a timber specialist to check the dampness until purchased. As suggested by anselled, looked up the mouseprice -value estimated £540K. I seem to have offered a lot. Is there any way I can reduce at this stage? and on what basis?
I'm lost, have you offered on two properties?
You can do anything at this stage but I fully expect them to tell you where to go regardless of what excuse you give...I would.0 -
Having been through the rather painful process of selling our house all summer, and having been messed around by many people putting in offers then retracting them, I would honestly say you need to consider your offers carefully before putting them in OP. I know its easy for you to retract or reduce your offers, but you are wasting peoples time.1
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You keep asking 'can I reduce my offer'? Yes, you can reduce, increase or withdraw your offer at any time up to exchange of contracts. Nothing is binding until you pay a deposit.
The vendor, of course, is equally free to accept or decline any original or revised offer you might make up until exchange of contract..No free lunch, and no free laptop
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