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Lowering Offer Options...
Pok3mon
Posts: 163 Forumite
Ok so our sale and purchase it into week 14 the house we are buying is 175k offered full asking price. Today 3 doors down identical house in identical condition (only 6 years old) has come onto the market for 159k
What would you do?
We have not exchanged and ATM don't have a date yet?
What would you do?
We have not exchanged and ATM don't have a date yet?
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Comments
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Buy the other house.What was your surveyor's valuation?Everything that is supposed to be in heaven is already here on earth.
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Never did a survey its 6 years old and come from a building family ( we have done our own survey on revisit). At the time the price seemed correct as things where going nuts around here (South Wales) and viewers where lining up to buy it.Doozergirl said:Buy the other house.What was your surveyor's valuation?
Things have cooled down in the last few weeks, however that will be the same for us.0 -
What are the variables with the other house? Could be that they want a quick sale, don't need the money or have been ill advised on value. Im sure it isn't identical in condition/size of drive/garden etc.
You can either pull out and buy the other house but I don't see the sellers coming down on price, would you if you were selling?0 -
No mortgage lender needing a valuation?Pok3mon said:
Never did a survey its 6 years old and come from a building familyDoozergirl said:Buy the other house.What was your surveyor's valuation?0 -
Cash Buyer.AdrianC said:
No mortgage lender needing a valuation?Pok3mon said:
Never did a survey its 6 years old and come from a building familyDoozergirl said:Buy the other house.What was your surveyor's valuation?
TBF it is identical! Same condition row of 6 semis I am buying number 6 the one for sale is 4.Irishpearce26 said:What are the variables with the other house? Could be that they want a quick sale, don't need the money or have been ill advised on value. Im sure it isn't identical in condition/size of drive/garden etc.
You can either pull out and buy the other house but I don't see the sellers coming down on price, would you if you were selling?0 -
But is it identical internally? Same condition??Nothing is foolproof to a talented fool.0
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The other one I would go for.
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@pok3mon Based on the limited info in your posts, it sounds like a no-brainer to view and offer on the second property if you like it. As a cash-buyer you're in a perfect position as well.
You could try negotiating with your current vendor but there are a whole load of variables which will dictate whether they will (or even can) go lower.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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Practical question, will starting the purchase process over again cause you to lose your buyer? Will they be content to wait another 14 weeks to get back to where you are today or might they also start looking at other homes?0
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