Offer Price?

alidai

We've found a house that we (me & my OH) absolutely love. It is up for "Offers over $140,000 (can't do pound signs).

We've looked round it a few times and spoken to the couple who live there, their story is that he bought the house with an ex-girlfriend and now his new girlfriend wants a house that they buy together and is "theirs". He told us that he bought it 4 years ago.

We've just looked at houseprices.co.uk today and confirmed that it was bought 4 years ago, however it also changed hands in January this year. It was sold for $120,000.

The guy living their now has said he has replastered the whole house (which has been done, and very nicely too), and they're looking to move soon.

Now to our situation:

We can afford $135,000 purchase price absolute tops and are FTB's.

What i want to know is why would he lie about buying it 4 years ago (if he is)?

Does anyone think there is another story behind this and we should tell him we know it was bought this year?

And finally, how much would be a decent starting offer, bearing in mind our max?

Thanks for any opinions, this is possibly the most stressful time we've ever experienced!

J

PasturesNew

My ex neighbour inherited the house from his mother before I moved there.
House prices shows the house and it's value at £37,000 about 3 years after that date. Well, the house at that time was worth about £120,000 - and it was still him living there.

Sometimes the data is missing. Sometimes it is wrong. and I often thought about the amount that was listed for his .... I wonder if your chap bought his girlfriend out in some peculiar way that created a "value" showing of £120k.

Maybe he raised a £120k mortgage on it, gave her £60k, pocketed the rest (to do the house up, buy a new car, have a holiday, whatever)?

Apart from the above wild guesses, no idea.

alidai

cheers for the reply,

we're just worried as we've never done this before and so want to find out as much as we can to make sure we're offering the right amount!

mr.broderick

where are you?

alidai

Ellesmere Port, Cheshire

mr.broderick

Offer 130 and see what happens

alidai

Glad to hear somebody else mention that figure, thats what i've thought to go in at but didn't want to appear to cheeky to the seller/ Also didn't want them to think we were taking the mick with such a low offer.

Here's hoping!

jackieb

I didn't know you had the 'offers over' system in England?

alidai

from my (very limited) experience of house prices, i've only seen the 'offers over' on about 1 in 20 house prices (in our range anyway).

CB1979_2

the change of ownership will probably be his ex coming off the deeds (this happened to my house when i bought my ex out)

yeah I'd personally offer £127,950 no idea why i just like using strange numbers, keeps them guessing a bit as to your circumstances.

then if it gets rejected leave it a day or 2 then go in at £130,950 (you managed to borrow £3k off your mum & dad and that's all they could give )
obviously it all depends how badly he wants to sell the place and also how many others are interested.

good luck