Help with making an offer

Monkeysocks42

Dormer windows never look good on the outside but definitely worth it to give a proper useable bedroom space on the inside. Bedroom 4 will be a study so not worried about fitting a bed in there but something to consider as to how other people will consider it when we eventually need to sell.

We've put a low offer in which has been rejected. Got all the usual "only recently reduced", "need to get enough to buy the next house". I did point out that they won't ever be able to buy the next house if they don't sell this one first! I have a max price I'm prepared to pay so will increase my offer later when they've had a proper chance to think about the fact that they are very nearly in a position to make their next move.

Paully28

Start with at least 10%, if not 15% lower than the average sale of houses in the vicinity of a similar size, and work your way from there.
Don't bother with a long-winded explanation of why you have done this, just do it, and work upwards from there.

-taff

You're offering 25 thousand less than they are asking for. It doesn't matter if you think they're being unrealistic, they obviously don't. Your max price of 350 is still 15 grand short of what they are asking. Unless they are desperate to sell, don't hold your breath. You are not holding any cards here, they are.

Monkeysocks42

We just took £25k less than our asking price in order to secure a buyer. We weren't by any means desperate to sell (and were only on the market for 8 weeks) but we could see prices dropping around us and only those realistically priced were selling. The area this property is in is still very busy. I've seen properties come on the market and sell within a matter of days but not this one. I understand that they may want closer to their asking price but I'm still only prepared to pay what I think it's worth. They don't hold any of my cards! If they want more than I think it's worth then I'll just buy something else with the cards I'll still have.

Cakeguts

As we have now established that this is a 3 bed house with a study how does it compare in price to other 3 bed terraced houses? It doesn't matter what the vendors want to sell it for what matters is what anyone wil pay them for it.



The vendors are having a problem selling it for what they want to then anyone who buys it will also have to be very careful about their asking price when they come to sell especially as it actually has only 3 bedrooms that can be used as bedrooms.

Monkeysocks42

So it's closest sold comparison is the 3 bed with no parking but that would be two doubles and a single. This does at least have 3 doubles and it has the extra bathroom. We've decided to go and view some other houses as this just doesn't tick enough boxes to pay more than the market would suggest it's worth. Thanks for your input everyone.

rosieflowers

It's showing as sold STC now?

Monkeysocks42

rosieflowers wrote: »

It's showing as sold STC now?

Yes, this is to us! Sellers accepted our offer subject to finding something which they now have and the chain is complete. I can now start to get excited (although not too excited in case it all goes horribly wrong!).