Is this a low offer?

loveka

We have just had an offer for 460k on our house, which is on for 475k.

The back story is...We were SSC but the buyer pulled out on the day of exchange in late December, having made the offer early October. That was full asking price. We had also had an offer at the same time for 480k, but ( stupidly it turns out) accepted the lower offer as that one had sold her house.

So the house went back on the market. Again we had a full asking price offer. This one has also floundered, due to issues with the potential buyers divorce.

So the current offer...I think 460k is too low really. A house very similar to ours, but bigger garden, sold for 495k last week.

Am I being unreasonable though? I can't stop worrying that we should just take it. But it would mean we can't do the kitchen and bathroom in the new house we want, so it would make a huge difference to us. To the potential buyers it would mean about £40 more a month on their mortgage, so not much difference. Aaaaaaaahhh!

We have said we will accept 470k.

cashbackproblems

if your not getting much else interest then do you really want to lose a house for the sake of 10k?

plus the market is only getting worse and predicted to fall so in 6 months you could be thinking this was a great offer

lincroft1710

You would be happy with a £5K drop on asking price of £475K. This is peanuts, it is only marginally over 1%.

LittleMax

Having had 3 full price offers I would say that is what it is worth. So in your shoes and based on what you have said I wouldn't go much below this.

Put yourself in your buyers shoes, they can see your house has been on for a while. They are hoping you are now desperate to sell, so why go in with full price offer at this stage?

Mickygg

cashbackproblems wrote: »

if your not getting much else interest then do you really want to lose a house for the sake of 10k?

plus the market is only getting worse and predicted to fall so in 6 months you could be thinking this was a great offer

What information are you referring to when you say the house market is predicted to fall? All I read in usual price predictions is that other than London prices will increase slightly throughout 2017.

OP If the buyer is in a good position I would initially do what you've done and reject but if no better offer I'd go back and accept.

always_sunny

loveka wrote: »

To the potential buyers it would mean about £40 more a month on their mortgage, so not much difference. Aaaaaaaahhh!

That is a month and for 25+ years! So really, an extra £12k + interests, maybe they want to redo your kitchen too! Did you get other offers?

GoldenShadow

The way the market isn't picking up if you want to move I would take it but be very clear you won't take a penny less if they try and knock bits off here and there.

We were torn over whether to offer more on a house and have because we don't want to be stuck where we are and it's a much more long term house. Still more than I'd like to pay. We got 2.2% off and were the first to offer on it after a fair few viewings but no offers.

ellie27

loveka wrote: »

a house similar to ours, but bigger garden, sold for 495k last week.

How do you know that?

The house you want to buy...... did you get your offer accepted on that way back in October when yours went to SSC? If so, you are lucky your sellers are still selling to you. If you want the house I think you really need to accept the 'low offer' and get on with it. Your sellers may put their house back on the market on monday after all the messing around?

You say if you accept the low offer you wouldnt be able to do the bathroom and kitchen in the new house..... many folk do have to live with things like that and build up savings before they can afford to buy things for the new place. I know folk who couldn't afford a soft/bed etc for their new place.

ED2

Mickygg wrote: »

? All I read in usual price predictions is that other than London prices will increase slightly throughout 2017.
.

London prices have already increased this year. There's been talk of London prices going down since last summer, it hasn't happened.

gardner1

It's just over 2% less than asking price......Take the offer

glasgowdan

If you're not desperate I'd stick to 470. You've had offers, it should go.

Ignore the dreamers who say prices are due to go down!