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Offer on suspect defective bungalow

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  • teachfast
    teachfast Posts: 633 Forumite
    500 Posts First Anniversary Name Dropper
    It's basically worth the price of the land with planning permission.
  • Superfuse
    Superfuse Posts: 52 Forumite
    Second Anniversary 10 Posts Photogenic Name Dropper
    teachfast said:
    It's basically worth the price of the land with planning permission.
    Yeah, that's basically how I was looking at it. I would expect a plot like this with PP would be £200k-£300k.
  • steve866
    steve866 Posts: 542 Forumite
    Fourth Anniversary 500 Posts Name Dropper
    Superfuse said:
    teachfast said:
    I would offer £60k maximum, and only if I had the means to rebuild in the near(ish) future.
    I offered over 3x that...
    You offered ~£180k for a property on for over £400k or have I read that wrong?
  • Superfuse
    Superfuse Posts: 52 Forumite
    Second Anniversary 10 Posts Photogenic Name Dropper
    steve866 said:
    Superfuse said:
    teachfast said:
    I would offer £60k maximum, and only if I had the means to rebuild in the near(ish) future.
    I offered over 3x that...
    You offered ~£180k for a property on for over £400k or have I read that wrong?
    Absolutely. What would you offer? Bear in mind that they didn't know that it was a PRC dwelling with structural issues.
  • steve866
    steve866 Posts: 542 Forumite
    Fourth Anniversary 500 Posts Name Dropper
    Superfuse said:
    steve866 said:
    Superfuse said:
    teachfast said:
    I would offer £60k maximum, and only if I had the means to rebuild in the near(ish) future.
    I offered over 3x that...
    You offered ~£180k for a property on for over £400k or have I read that wrong?
    Absolutely. What would you offer? Bear in mind that they didn't know that it was a PRC dwelling with structural issues.

    Probably less than you! I was just interested in the whole situation, must be sad situation for the seller if they did not realise.
  • Superfuse
    Superfuse Posts: 52 Forumite
    Second Anniversary 10 Posts Photogenic Name Dropper
    steve866 said:
    Superfuse said:
    steve866 said:
    Superfuse said:
    teachfast said:
    I would offer £60k maximum, and only if I had the means to rebuild in the near(ish) future.
    I offered over 3x that...
    You offered ~£180k for a property on for over £400k or have I read that wrong?
    Absolutely. What would you offer? Bear in mind that they didn't know that it was a PRC dwelling with structural issues.

    Probably less than you! I was just interested in the whole situation, must be sad situation for the seller if they did not realise.
    Indeed. I was conscious of the potential impact on the vendor and conveyed my concern to the EA. As they built the dwelling originally and have not provided any responses to my correspondence, I presume that they did realise.
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