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How low can I go? (Scotland)
Comments
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BorisTh0mson wrote: »If it states "Offers over" this is likely to be the seller/vendors lowest price they would be willing to accept, although they are hoping for more.
Normally offers below such a property are ignored, in my experience.
It's like a reserve price in a auction, where someone sets a reserve.
The vendor is most certainly unlikely to drop £15k lower than offers over.
You're right. This is what I was afraid of. I may be able to scrape a larger deposit together but that would require some time and obviously no guarantees that the house will still be on the market by that point!0 -
BorisTh0mson wrote: »If it states "Offers over" this is likely to be the seller/vendors lowest price they would be willing to accept, although they are hoping for more.
Normally offers below such a property are ignored, in my experience.
It's like a reserve price in a auction, where someone sets a reserve.
The vendor is most certainly unlikely to drop £15k lower than offers over.
Alternatively it’s the EA trying to get the best price. We are buying for 15k under our ‘offers over’ property list price0 -
It is certainly worth trying an offer of £150K but don't be surprised if it is rejected. If so you can always negotiate. That's a bigger percentage drop than we were prepared to accept.
Just compare it to your London prices and you will see what spectacular value houses are in much of Scotland. Even if you were given the land for free, I doubt you would be able to build a house for that much.0 -
Alternatively it’s the EA trying to get the best price. We are buying for 15k under our ‘offers over’ property list price
That's really helpful, thank you. I imagine that it won't go for OO £165K any time soon since it has been on the market for a while, but it's difficult to determine what would be their lowest acceptable offer.0 -
It is certainly worth trying an offer of £150K but don't be surprised if it is rejected. If so you can always negotiate. That's a bigger percentage drop than we were prepared to accept.
Just compare it to your London prices and you will see what spectacular value houses are in much of Scotland. Even if you were given the land for free, I doubt you would be able to build a house for that much.
Yes, definitely worth posing the question as to whether they will accept £150k, though I would fully expect it to be rejected. The seller and I got on well, we were both looking to buy due to family circumstances (her father had passed away recently, mine was critically ill) and she heavily implied that she'd been waiting for the right person to sell her house to as she didn't want to sell it to just anyone. Of course, that premise goes out the window when it comes to a decent price offered!0 -
Mine has just gone on at offers over £170k. Valued at £185k.(Nearly) dunroving0
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That's really helpful, thank you. I imagine that it won't go for OO £165K any time soon since it has been on the market for a while, but it's difficult to determine what would be their lowest acceptable offer.
Just make the offer at £150k, if they reject it you know you need to bump it up a bit. That’s how you determine it!0 -
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.... she heavily implied that she'd been waiting for the right person to sell her house to as she didn't want to sell it to just anyone.
Big red flag. Someone who isn't willing to just treat it as a business transaction. The type of seller who, two weeks after the entry date, drops by to see if you're looking after 'their' house properly ....
Walk away, walk away0 -
Big red flag. Someone who isn't willing to just treat it as a business transaction. The type of seller who, two weeks after the entry date, drops by to see if you're looking after 'their' house properly ....
Walk away, walk away
And of course, the "right" person might sell it to the "wrong" person a year later.0
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