House buying and what to offer...

hazyjo

brodawel wrote: »

The OP said it also sold again last August so I think he or she is only questioning the price increase since then.

Prices have dropped in many areas. Where I am they've dropped 7% this last year according to Rightmove at least, yet new instructions are coming on loads higher, crazy prices but nothing is selling, they are reducing the prices after a few months but still not selling.

Gawd, I think I'm forgetting what year I'm in lol. Ta.


Don't people find it hard/impossible to sell on in less than 12 months? Can't remember what the law says or if it's a mortgage issue.




Jx

nemofin

Thanks for all the replies.

We put in an offer of £150k but it was rejected. The vendor said it was "considerably lower" than what she would accept.

I think we'll wait it out and maybe increase the price in a week or two by a few thousand. My concern is if we move forward and the house isn't actually valued at what we pay i.e for the mortgage.

MataNui

I would be very suspicious of someone moving so quickly. Moving house is a pretty expensive business. You wouldnt do it so soon without a very good reason. That also explains the high asking price. Vendor probably needs to cover additional costs (like substantial mortgage exit fee for example).