House on for £290,000 one down the road £250,000

Brightspark87

cadon wrote: »

How will you feel if she accepts an offer of 282k, your surveyor says it's only worth £275k and she won't negotiate on the price?

Never mind your heart, can your bank balance cover a shortfall between the valuation and asking price if this woman point blank refuses to negotiate and it turns out you were right about the value all along? If it's a definite no, I'd walk away as you'll then waste money on professional fees.

A nice modern house can have all kinds of problems that aren't visible to a layperson. I bet a rural property can have a lot more that's wrong with it! The issues you mentioned like the roof may or may not be reflected in the price. You won't know until you're incurred money on getting a survey and valuation done.

She doesn't sound like she'd negotiate if the survey came back with problems...

I agree however, we do have some wiggle room when it comes to mortgage and 25% LTV on this house @ £282,500 (as in a spare £££ and still get the mortgage we need) so if it was down valued we could still manage. My mum said over Easter that its not worth missing out on the house we like for £5k or less so therefore we should keep that in mind and if the house is valued at lower by the survey then we can deal with that as and when.

My brother had a similar problem just two weeks ago and it was down valued by £3k and they would not reduce so he just paid it.

She is Spanish doesn't speak good English and will only communicate with the agent via email so that is why we are struggling.

Another couple are looking for the second time on Thursday and agent thinks they will put in an offer (of course!!) but we have offered £277,500 - just £2,500 less than the agent said she will accept. Agent keen to sell to us as I work next door to them, they know the guy I sit next to at work as he is a mortgage broker and as FTB we can be far more flexible.

She has to move to Cambridge in July when her new job starts and I hope this has made her more set on selling it! Although as she is buying in a much more expensive area I think its a little unlikely she will take less than £280,000 but we shall see!

*Robin*

I agree with your Mum, Sparky.
In your place, I'd want someone to have a close look at those flat rooves; if they've got ten years left in 'em, fine.

Re Cambridge. Am currently embroiled in buying an ex local authority house; won't get much change from half a million quid! :eek:
..So your vendor needs every penny she can squeeze out of this sale, and even so will probably end up in a one or two bed flat on the most notorious council estate. :cool:

Brightspark87

*Robin* wrote: »

I agree with your Mum, Sparky.
In your place, I'd want someone to have a close look at those flat rooves; if they've got ten years left in 'em, fine.

Re Cambridge. Am currently embroiled in buying an ex local authority house; won't get much change from half a million quid! :eek:
..So your vendor needs every penny she can squeeze out of this sale, and even so will probably end up in a one or two bed flat on the most notorious council estate. :cool:

I know Robin - my brother moved from London (well Tooting) and bought a slightly bigger house but not much difference in price so its expensive.

We've offered £282,500 but had another spanner in the works due to the other house at £249,500 coming back onto the market too! the sale has fallen through.... DH is keen we go look again so off we toddle on Saturday.....

marksoton

This has to be the most protracted offer situation ever!

Brightspark87

marksoton wrote: »

This has to be the most protracted offer situation ever!

Not as bad as my brother in London...!!

But thanks :beer:

Brightspark87

Does anyone want to know whats happened or shall I just leave this now.

sham63

Brightspark87 wrote: »

Does anyone want to know whats happened or shall I just leave this now.

Of course - we need find out if there's a happy ending!

Davesnave

Brightspark87 wrote: »

Does anyone want to know whats happened or shall I just leave this now.

You can't leave us in suspense after all these posts! That would be too cruel.

Besides, people might stalk you on MSE for hints and clues. :eek:

Far better to spill the beans...;)

societys_child

150 posts on this thread, you can't just walk away. Everyone will want to know the outcome.

Brightspark87

Well the £290k one? She won't sell to us because this is a quote 'we are first time buyers so risky and we ask too many questions.' The others offered £280,000 have a house to sell and we offered £282,500. Personally? I almost felt relief - although I am not an experienced house buyer she is a nightmare... Agent bet me a tenner she will come back to us in a few weeks time....

So, looking at the cheaper http://www.rightmove.co.uk/property-for-sale/property-39883182.html Saturday. I think we might make an offer (after all of this eh?!) the agents on it are local stars too - all I see are their pink boards!

Any thoughts?!