My offer was Rejected!

jodieleigh89

We have just sold are house and ready to make offers!
We are in no chain we have fallen in love with a house on the market at 176,250 but it needs a lot of work! Every room needs doing the kitchen & bathroom needs a lot of work!
We went in at a cheeky offer at 167 they declined so we have gone to 170 and again rejected the offer!. Looking at houses on the same street one sold last year for 173,000 but it was done out plus a conservatory! It's only been on 10 day's would you wait to see if they give in or would you offer 2k more? It's had a lot of viewers but nobody has made an offer. I believe the family is selling this.. We liked another one just before we sold on the same street up for 180 i believe it went for 175 but again it was done out more!

The_Logans

Do you think it's worth £2k more? Can you afford £2k more? If the answer to both is yes and you have fallen in love with it as you say, would you be kicking yourself in 6 months time if you look on Zoopla and saw it went for £172k?


You say you are in no chain, but you have just sold your house? Have you completed and moved out?

G_M

'the family is selling' sugests it's a probate sale. So they may be in no hurry, especially if

a) probate has not yet been granted and/or
b) tere's no mortgage on the poperty so minimal ongoing costs (councl tax may be zero-rated too)

In that case they may well wait for the best price.

On the other hand if there IS a mortgage, they might want to get it off the Estate's hands asap......

Cakeguts

How long did it take for the previous two houses in this road to sell? If it was quite quickly then you will need to consider a much higher offer.

ReadingTim

If it's only been on the market a week and a half, but has had a lot of viewings, the vendors are probably hoping they'll get a few more offers. And if I were the EA, I'd be ringing round viewers telling them how there have already been two offers already (glossing over the bit that they both came from the same person...).

I'd sit tight for the minute, but decide on what the maximum you're willing or able to pay - possibly (if you really love it) up to the full asking price - on the condition it's removed from the market. At this stage, and based on nothing more than a liking for nice round numbers, I reckon they're after £175k.

If that's not achievable, you might have to play the long game, but be aware that if it's a probate sale, it could be a while before probate is granted, and they're actually in a position to sell.

ED2

Considering the price of the sold house in good condition and with a conservatory, I would back away on your last bid.

feejaykay

I agree, if its a probate sale they have no reason not to hang on for what they think it might be worth.

In the grand scheme of things, 2k is nothing, if you love it offer it and hope they accept.

fi x

Fosterdog

Are you a cash buyer or needing a mortgage? If mortgage then there is no guarantee that the mortgage company will agree with what it's worth and may not offer the full amount you need. If getting it up to the standard of the recently sold houses will cost too much it won't be worth it at all.

Personally if two other houses in better condition had sold for the values you say I would have gone in with a much lower offer, given my reasoning and just walked away if they didn't accept it.

glasgowdan

The size of the garden is unique and worth a lot. The price seems on par with others in the area

p00hsticks

glasgowdan wrote: »

The size of the garden is unique and worth a lot. The price seems on par with others in the area

I can't see any mention of the garden size or links to the property details above, so how do you know this - have you posted on the right thread ?

glasgowdan

Well it's a very specific/unique sale price listed ten days ago!