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Wow, I'd struggle to see many vendors considering a £5k increase as timewasting.
Why? The vendor is not in a hurry to move and the OP has already made an offer that is less than comparable properties, even though this particular one has more value as there is a ground rent buyout. Add that to the fact the vendor has indicated they will take £200k for them to sell, and it would annoy me as well.
The other danger is if the OP says 'theres £195k, that's my max offer', then if it gets rejected the EA may well not come back to the OP if there are other interested parties. And the OP has made it clear they want this property.0 -
Why? The vendor is not in a hurry to move and the OP has already made an offer that is less than comparable properties, even though this particular one has more value as there is a ground rent buyout. Add that to the fact the vendor has indicated they will take £200k for them to sell, and it would annoy me as well.
The other danger is if the OP says 'theres £195k, that's my max offer', then if it gets rejected the EA may well not come back to the OP if there are other interested parties. And the OP has made it clear they want this property.
I would not say it was my maximum offer.
There are no other buyers.
All offers must be put to the vendor.0 -
BrassicWoman wrote: »It's still way under asking, below what they've indicated they'd accapt, and looks to be one of those annoying "death by a thousand cuts" negotiations. Not the kind of business I like to do.
Which is why there's an EA in the middle. Who is trying to bring the parties together to compromise. If the vendor want over £200k then they should state the fact.0 -
in your shoes, I'd offer 200k, IF you really want it. 5k more or less is irrelevant.0
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The estate agent has been in touch and told me that my offer has been rejected (£198,750). However, he has said that we are close to a deal and believes that around £205, 000 should ensure a purchase, and with the ground rent buyout in place, subject to a surveyor's report, solicitors advice, and contract.
I believe that this a good deal for me because the price of the flat was originally £225,000, then reduced to £215,000. Hence, £205,000 represents a £20,000 drop from the original price, and even a £10,000 drop from the reduced price.
I am not sure if this drop is typical, because it is likely to be so variable. But on the face of it, it looks OK.0
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