What would you offer?

Crashy_Time

Person_one wrote: »

Actually, people are advising that he drops the price as its practically a full renovation project and its not in a desirable location so it isn't worth what he's asking for it.

If a buyer, like you, viewed that property then made an offer £25,000 under the asking price, they would get exactly the same response from the seller that you have, a flat no!

Houses get bought and sold when a buyer and a seller agree on how much money has to change hands for it to work well enough for both of them. I do think your offer was pretty cheeky, but even if it wasn't then it doesn't actually matter if the seller is holding out for higher.

Isn`t it the seller that is being cheeky though, by obviously asking far too much?

Matt_L

When we first spotted the house on rightmove we were like a lot of others on here, we honestly thought the house looked to be in good condition with little to do but spruce the place up and some gardening...

However we were shocked once we actually entered the house, it looks completely different, its like those photos were taken 20 years ago. I mean, even the EA who showed us around the house agreed that the kitchen and bathroom had seen there best days, he thought we would be lucky to do what was needed for as little as 20k..

We still like the house and see past the work and its potential, not to sell on and make a profit but to live there for the next 30+ years. We also don't want to be ripping someone off, a bargain would be great.. We will be increasing our offer just not sure how much to increase it to...

Wish we had taken photos now....

Cakeguts

Matt_L wrote: »

When we first spotted the house on rightmove we were like a lot of others on here, we honestly thought the house looked to be in good condition with little to do but spruce the place up and some gardening...

However we were shocked once we actually entered the house, it looks completely different, its like those photos were taken 20 years ago. I mean, even the EA who showed us around the house agreed that the kitchen and bathroom had seen there best days, he thought we would be lucky to do what was needed for as little as 20k..

We still like the house and see past the work and its potential, not to sell on and make a profit but to live there for the next 30+ years. We also don't want to be ripping someone off, a bargain would be great.. We will be increasing our offer just not sure how much to increase it to...

Wish we had taken photos now....

If you like the house you have to make an offer that you think the seller will accept. You can't make a seller sell a house to you for what you want to pay for it now. It may be overpriced but if the seller won't drop the price then it may not sell. Just because the price is too high for the house to sell doesn't mean that the seller will drop the price.

You will only be able to buy this house if you offer a price that the seller will sell at. If the price is too high the house could stay on the market for years. Some do. Work out the maximum that it is worth to you. Offer that and if that is not accepted either look for another house or wait to see if it is reduced.

glasgowdan

None of us here know the area and market so asking us how much we'd offer is a bit tricky. Based on sold prices, I'd be considering up to £122k. But I can tell you for a fact, the seller won't accept that offer, so at the end of the day the best thing for you to do is move on to other homes. This one isn't happening in any sensible way for you sadly.

Glover1862

You go £25k under and wonder why the selling is not responding. That is typical btl that will be rent in no time. If the seller needs to discount he might as well sell to a btl-ter with no chain and likely not to mention the poor decor!!

Person_one

Crashy_Time wrote: »

Isn`t it the seller that is being cheeky though, by obviously asking far too much?

It can easily be both.