First-time buyer, put an offer in that was rejected - next steps?

Leard91

Cakeguts wrote: »

Who do the two garages next to the drive to the house belong to?

They aren't the part of the property. The property includes the driveway and gate down to the back garden and that's it.

Cakeguts

Leard91 wrote: »

They aren't the part of the property. The property includes the driveway and gate down to the back garden and that's it.

So the property you are interested in has parking for one car only on the drive? How many cars do you have? Is there likely to be a parking problem if there are cars parked outside both of the garages next door making it difficult to open the car doors if you have a car parked on the drive?

AdrianC

You have a simple choice - increase your offer as far as you're willing to go. The more times you make lowball offers, the more likely the vendor is to think you're a timewaster and just ignore you. (And, yes, I'd say £245k on a £280k asking was "lowball", especially given you think it's worth £260k.)

If that's not as much as the vendor wants, then you need to find another property.

PasturesNew

Looks like they've done work, so not just sat in it.

Removed funny chimney thing and thin dado rail in the living room, possibly skimmed some walls while they were at it. Looks like new flooring throughout. Refitted bathroom (removed bath/fitted shower).

That'll be where some of the additional pricing comes from - they want back what they put into it and the "added value" they perceive that to have.

Your offer was too low. The area's a good area, I lived over the road for awhile, it's where I'd look for a house if I were to move there.

You're dealing with a seller who has a perception of worth/value on a house they love because they got to do all the choosing of things in it....

cooltt

Leard91 wrote: »

We are looking at a really nice 3 bed in Cardiff, CF5 2QY.

It's on the market for £280k. However they bought it for £203k in 2015, and looking at other 3 beds in nearby postcodes, this feels overpriced. I struggle to believe it's gained £77k in 4 years.

Just to clarify. Every other 3 bed in the area is either under offer for around £250k or has been sold for a similar amount.

We have offered £245k as our initial offer, knowing it'll probably be rejected. However other houses around the area are going for about £240-260k.

We are willing to go as high as £260k, however the vendor wants £270k according to the estate agent.

Should we go in with another offer of £250/255k or straight to £260k?

Wouldn't touch that area with a barge pole.

Google "Plasdwr housing development". A million new houses on the fields just opposite with plenty of housing association homes going there too. No additional infrastructure! Another brilliant idea from the Labour communists down the bay.