AIBU - negotiating offer

Mmarsenal22

Kaysee24 said:

I would hold out for a bit longer, I'm in Norwich and think that's a reasonable price for your house and you've only been on the market a couple of weeks. A lot of initial viewings are from estate agent mail outs which is different from someone spotting on RM etc.
My worry with this offer is if they're compromising a bit they may keep looking.

Thank you very much and you are probably right about the buyer not being serious themselves. I guess all we can do is wait. We may miss out on the potential of us being chain free/breaking the chain by moving into DP’s uncles’s spare home because of time. 

Kaysee24

Mmarsenal22 said:

Kaysee24 said:

I would hold out for a bit longer, I'm in Norwich and think that's a reasonable price for your house and you've only been on the market a couple of weeks. A lot of initial viewings are from estate agent mail outs which is different from someone spotting on RM etc.
My worry with this offer is if they're compromising a bit they may keep looking.

Thank you very much and you are probably right about the buyer not being serious themselves. I guess all we can do is wait. We may miss out on the potential of us being chain free/breaking the chain by moving into DP’s uncles’s spare home because of time. 

Oh that's frustrating, but you never know. Simultaneous buying/selling can be so stressful, starting from the work involved for viewings (why do they end up spread across every day of the week?) preparing your "show home", through to that agonising wait of will it won't it get to exchange. Very best of luck with it all

wannabe_a_saver

It sounds like your husband is stuck on the garden adding value.  Its a good amount of space and great for someone who just wants a picnic/play area but for a gardener who wants to actually grow things there's a lot of work needs doing to it! 

Mmarsenal22

wannabe_a_saver said:

It sounds like your husband is stuck up on the garden adding value.  Its a good amount of space and great for someone who just wants a picnic/play area but for a gardener who wants to actually grow things there's a lot of work needs doing to it! 

I 100% agree with you. Perhaps the garden adds no value whatsoever!  Probably should have thought about that before slabbing the entire place up😅

Natbag

If you've found a house you want, it's not worth possibly missing out on for £5k. It's a tiny percentage of the valuation. There's also a chance that the buyer's lender will down value it anyway, if they're mortgaging, in which case you'll end up having to accept a lower offer anyway. A house isn't worth what you think, or what an estate agent says, or even what a buyer wants to pay, it's worth what any lender values it at - I've found that out the hard way twice now!
Also, you might be able to negotiate a £5k reduction on any house you buy, so it all works out the same  

Mmarsenal22

Natbag said:

If you've found a house you want, it's not worth possibly missing out on for £5k. It's a tiny percentage of the valuation. There's also a chance that the buyer's lender will down value it anyway, if they're mortgaging, in which case you'll end up having to accept a lower offer anyway. A house isn't worth what you think, or what an estate agent says, or even what a buyer wants to pay, it's worth what any lender values it at - I've found that out the hard way twice now!
Also, you might be able to negotiate a £5k reduction on any house you buy, so it all works out the same  

I thought whether we could negotiate with the developers on the price. The house we want is £385k. I also get discount on Bovis homes too. So one of the houses we looked at is £352k but with the discount it would be £345k. I would have preferred to have gone with the smaller home because once we move, that is it until we downsize. All I would like is an extra bedroom, a study, and a garage. The rooms are also much bigger than what we have now but hubby is adamant he wants this other one which is really nice but until we even get an official figure on his salary for this year, we may not even be able to get the £385k house!

Mmarsenal22

So the buyer was adamant on paying 250k. We reduced the price to 250k because we thought more people will see it if they are looking at houses at 250k on right move. That will be our final reduction. The guy came back after seeing the reduction in price with an offer of £255k which we have now accepted woohoo! The developers have also given us £5k off the asking price.

I really cannot get excited at all though; the buyer has yet to see the house in person. His daughter came to view for him and did a video tour for him. He is coming on Wednesday to view himself. How seriously do I take this buyer? He has give the EA his proof of funds and solicitors’ details. 

Irishpearce26

Mmarsenal22 said:

So the buyer was adamant on paying 250k. We reduced the price to 250k because we thought more people will see it if they are looking at houses at 250k on right move. That will be our final reduction. The guy came back after seeing the reduction in price with an offer of £255k which we have now accepted woohoo! The developers have also given us £5k off the asking price.

I really cannot get excited at all though; the buyer has yet to see the house in person. His daughter came to view for him and did a video tour for him. He is coming on Wednesday to view himself. How seriously do I take this buyer? He has give the EA his proof of funds and solicitors’ details. 

Congrats.
I would see him as a serious buyer, his daughter viewed it and did a video tour, proof of funds and made an offer shows he is serious. Wednesdays viewing is him getting a feel for the place. 

Make it as inviting as possible for him, declutter as much as possible so he can see the potential.

Mmarsenal22

Irishpearce26 said:

Mmarsenal22 said:

So the buyer was adamant on paying 250k. We reduced the price to 250k because we thought more people will see it if they are looking at houses at 250k on right move. That will be our final reduction. The guy came back after seeing the reduction in price with an offer of £255k which we have now accepted woohoo! The developers have also given us £5k off the asking price.

I really cannot get excited at all though; the buyer has yet to see the house in person. His daughter came to view for him and did a video tour for him. He is coming on Wednesday to view himself. How seriously do I take this buyer? He has give the EA his proof of funds and solicitors’ details. 

Congrats.
I would see him as a serious buyer, his daughter viewed it and did a video tour, proof of funds and made an offer shows he is serious. Wednesdays viewing is him getting a feel for the place. 

Make it as inviting as possible for him, declutter as much as possible so he can see the potential.

Looks like this will be my bank holiday project! Thank you very much! Would you suggest one of us be in the house for the viewing to answer any of his questions or should we leave that to EA?

Irishpearce26

Mmarsenal22 said:

Irishpearce26 said:

Mmarsenal22 said:

So the buyer was adamant on paying 250k. We reduced the price to 250k because we thought more people will see it if they are looking at houses at 250k on right move. That will be our final reduction. The guy came back after seeing the reduction in price with an offer of £255k which we have now accepted woohoo! The developers have also given us £5k off the asking price.

I really cannot get excited at all though; the buyer has yet to see the house in person. His daughter came to view for him and did a video tour for him. He is coming on Wednesday to view himself. How seriously do I take this buyer? He has give the EA his proof of funds and solicitors’ details. 

Congrats.
I would see him as a serious buyer, his daughter viewed it and did a video tour, proof of funds and made an offer shows he is serious. Wednesdays viewing is him getting a feel for the place. 

Make it as inviting as possible for him, declutter as much as possible so he can see the potential.

Looks like this will be my bank holiday project! Thank you very much! Would you suggest one of us be in the house for the viewing to answer any of his questions or should we leave that to EA?

Not sure you can with covid restrictions. I wouldn't, I would let the EA take him round so he can be relaxed, would be hanging around close by so I could say hello at the end and ask if he has anymore detailed questions.