Lost out on another house that's gone for over asking price

[Deleted User]

I was having a look on rightmove (since I'm only 1 junction down from Hemel) and found this abomination of a house advert - http://www.rightmove.co.uk/property-for-sale/property-38579289.html

But these looked much nicer and in your budget:

http://www.rightmove.co.uk/property-for-sale/property-62199608.html
http://www.rightmove.co.uk/property-for-sale/property-56148958.html

I hope you aren't just relying on rightmove - you should always register with estate agents (and cultivate a relationship) as you'll get to see properties before they go up online. We found out house because my mother-in-law drove past and saw a sign going up! It wasn't on RM for 3 days afterwards, and by then we'd put an offer on it.

startingout2016

We went to see Half Moon Meadow. Not too sure what had happened, but all the wires for lightswitches and thermostat were hanging out of the wall. None of the lights were working. The bathroom was in bits.
The place was filthy and smelly. The front door had to be forced open and looked like it had caved in at somepoint. The photos are misleading and the garden is tiny and overlooked and next to a main road.

A house just down the road was on the market a month previously for £275k.

startingout2016

We are registered with the agents but none of them have contacted us about properties that are new to the market. We get the odd call from ones who are struggling to shift houses on Grovehill but thats about it.
The agent selling the Boxmoor brick and flint called us about that house and told us to go see it as the owners would take an offer, but when we offered they weren't interested. That was over a month ago now, so might be a different story seeing as its still sitting there empty.

We have had a lot of agents telling us we wont find something in our budget, but we did have an offer accepted for £310k on a boxmoor victorian terrace, but it fell through. It is possible, they just dont come up that often and if they are telling us we haven't got the budget it puts me off the agent as I assume they are overpricing their properties.

Hoploz

Ok you need to be in the agents offices at least once a week asking if there's anything new coming on. You need to be the first person they think of when they get a house. I do actually mean standing in their offices asking, that way they remember you better!

You must have everything in place - I assume you have an AIP? Tell them this and that you are definitely serious buyers.

You have nothing to sell? You are good buyers, although clearly you have to be able to offer a reasonable sum. The good position is only worth so much and each seller will have their own view on what that is worth to them. Keep at it.

startingout2016

Hoploz wrote: »

Ok you need to be in the agents offices at least once a week asking if there's anything new coming on. You need to be the first person they think of when they get a house. I do actually mean standing in their offices asking, that way they remember you better!

You must have everything in place - I assume you have an AIP? Tell them this and that you are definitely serious buyers.

You have nothing to sell? You are good buyers, although clearly you have to be able to offer a reasonable sum. The good position is only worth so much and each seller will have their own view on what that is worth to them. Keep at it.

Yes, nothing to sell. We have our AIP with Nationwide. We have cash in bank for deposit. We have solicitors appointed and deposits paid to them (because we had already started the ball rolling with the previous house purchase that fell through).

It just seems we are losing out to people who are in long chains, or people dont see our position as worth considering for a slightly lower offer.
£5k from asking price when you haven't had any other interest, and we have not chain and want to move quick seems like a great deal to me. But obviously not to the vendors. Its frustrating.

getmore4less

what did you offer on the place?

With offers over £325 I would think they were expecting the lowball to be £320+ possibly £325.

not local enough to gauge where it should be priced but as you need to come in under £315 it might be a bit of time before expectation merge.

startingout2016

getmore4less wrote: »

what did you offer on the place?

With offers over £325 I would think they were expecting the lowball to be £320+ possibly £325.

not local enough to gauge where it should be priced but as you need to come in under £315 it might be a bit of time before expectation merge.

We offered £315k at the time.

getmore4less

startingout2016 wrote: »

We offered £315k at the time.

Might need a bit longer to get down to that.

I would think the EA/vendors were waiting for you to up your offer.

as you are at your limit nothing will happen

Cakeguts

startingout2016 wrote: »

What are peoples opinions on this house: http://www.rightmove.co.uk/property-for-sale/property-56186311.html

Its one we have seen but needs work.

Repointing, bathroom, garden work etc

It is on a main road. Parking is limited because of the bus stop and double yellow lines.

The bathroom is downstairs. A downstairs bathroom means that you will have to go downstairs to go to the toilet if you need to in the night. Downstairs bathrooms are unpopular. I can't see that there would be any benefit in living in this house over where you live now.

It is also too expensive for your budget. You need to think about what your budget will buy in your preferred areas if this house is at the bottom end and is already too expensive for you.

startingout2016

Cakeguts wrote: »

It is on a main road. Parking is limited because of the bus stop and double yellow lines.

The bathroom is downstairs. A downstairs bathroom means that you will have to go downstairs to go to the toilet if you need to in the night. Downstairs bathrooms are unpopular. I can't see that there would be any benefit in living in this house over where you live now.

It is also too expensive for your budget. You need to think about what your budget will buy in your preferred areas if this house is at the bottom end and is already too expensive for you.

Bathroom is downstairs which is a downside.
Parking is ok. Immediately out front is free parking for the row of houses along with a car park which is free after 5pm just down the road.
Google maps says there is a bus stop right out front but there isn't one near the house.
There are downsides to it, but those downsides are a lot easier to live with than some of the 2 / small 3 bed 50's terraces on the cul-de-sacs where parking is even worse, and the gardens are very overlooked.