How much (little) to offer?

The_Logans

Cakeguts wrote: »

It all depends on where this house is and what it is. North of Manchester a house at £500k would take several months if not years to sell and would most likely be a large barn conversion or a big more modern house on a large plot.

Where I live that would buy you a 3 bed semi. For the 3 bed semi the chain would be a lot shorter because the property at the bottom would cost more to start with. In north Manchester the chain could be really, really long. In order for enough people to find houses to buy would take months and months.

Chances are that if a house is in really good condition someone has spent a lot of money on it and will want to get that back.

It's in North Shropshire

Crashy_Time

The_Logans wrote: »

Goodness me your are a supercilious so and so. If, in your opinion, a post isn't worthwhile posting back on - don't post on it. Go and make better use of your time on a post that is more deserving of your expertise 'in your perspective'.


In the meantime I will read the replies that are useful, and be grateful for those. No one can give a firm answer, but a chance to 'think out loud' while working through a major decision is welcome. In my perspective.

Meow!

warby68

OP, have you sounded the agent out?

They often give some indication of the vendor's situation and attitude to offers.

However with a max of £450k and therefore a need to offer a bit lower to open negotiations your circumstances, rather than vendor's, are more or less determining what you offer already.

Generally speaking , I would think its a relatively small pool of vendors who would go more than 10% below asking after only a few months (but you never know)

The_Logans

warby68 wrote: »

OP, have you sounded the agent out?

They often give some indication of the vendor's situation and attitude to offers.

However with a max of £450k and therefore a need to offer a bit lower to open negotiations your circumstances, rather than vendor's, are more or less determining what you offer already.

Generally speaking , I would think its a relatively small pool of vendors who would go more than 10% below asking after only a few months (but you never know)

I did speak to the agent and explain that the asking price was out of our range. She said that, as they have had no offers yet, she isn't sure how negotiable they will be (as they haven't anything to say no to yet!)

Crashy_Time

The_Logans wrote: »

I did speak to the agent and explain that the asking price was out of our range. She said that, as they have had no offers yet, she isn't sure how negotiable they will be (as they haven't anything to say no to yet!)

Love it when offers over kite flyers come unstuck like this! Too funny.

The_Logans

Grr. We offered £450, worked up to £462500. They still haven't accepted. The EA had no 'firm figure' from them, but today she said they have stated they will accept no less than £480k.


Guide price is £499,999. I think they are being greedy.


On the upside we had an offer accepted on another house. Much more realistic vendors!

Mrs36

Perhaps they are happy to sit it out, and are not in a rush to sell rather than greedy by default? Chances are though, that you'll see it languishing on the market in a years time, having been dropped by the odd 5k here and there.

Congratulations on having your offer accepted on the other house.

Crashy_Time

The_Logans wrote: »

Ha! They were ambitious. No it's nothing like that bad, total redecorate, new bathrooms and new kitchen and landscaping outside would sort it. Not sure I have the energy for all that though. I have a 2-year old who doesn't sleep, lol.

Move in ready would be your ideal buy then?

The_Logans

Crashy_Time wrote: »

Move in ready would be your ideal buy then?

Yep, and that's what we've got. We offered up t our absolute maximum on the £499k property (£465000) and they still didn't accept so we walked away. Offered on another house, not the fixer upper but a different one in a different village, similar size, bigger plot. £447500 Walk-in condition!

Out,_Vile_Jelly

The_Logans wrote: »

Yep, and that's what we've got. We offered up t our absolute maximum on the £499k property (£465000) and they still didn't accept so we walked away. Offered on another house, not the fixer upper but a different one in a different village, similar size, bigger plot. £447500 Walk-in condition!

Glad you weren't tempted to overstretch yourselves; I think people can get too emotionally attached to one option and forget that there are other properties out there.