Am I being unreasonable?

iSilent101

HotPantsCruiser said:

Won`t the vendor just run into the same problem with the next potential buyer though?

This is what we were thinking but she does not want to budge and has given us until tomorrow midday to make a decision.. 

iSilent101

canaldumidi said:

Neither you nor the vendor is being unreasonable. It's a negotiation.

If the vendor does not budge and you walk away, how will you feel? Relieved not to have over-paid? Disappointed not to have the flat you love?

If the vendor does not budge and you pay the agreed price, how will you feel? Cheated and permenantly annoyed with yourself and/or the vendor? Happy to have got the flat you really want?

I think we would be disappointed to lose it, it meets all our needs. However, if we were to go ahead with the 320K, we would be happy with the flat but annoyed/cheated on due to the valuations and they have not even cared to address the lease length being 10 years off from what we were originally told when we agreed to the 320K offer. I think we would also be stressed in case we lose out money when we come to sell..

user1977

Have all of the valuations taken account of the actual lease term?

KiKi

On a 25 year mortgage, at 1.5%, you're talking the difference of £40 a month in the mortgage payment.

If you're going to stay there only a couple of years, then that £10k could make the difference of making a profit or loss.  If you're staying 5/10 years, then £10k isn't a huge amount in the scheme of things.

Will you be gutted if she says no, and puts the flat back on the market?  Can you afford anything else right now, in the area you want to live?  

NatNat77

Perhaps keep it at the price you offered but make it conditional on the lease being extended to what it was advertised at before exchange 

RoyalDad

I am confused by some of the comments - If she had already had an offer for £315,000 why should then decide to accept your offer of £310,000. If you like the house, can afford it and the mortgage company has agreed its worth £320,000 why not just pay £320,000.

SusieT

The flat in the same block could have been at a lower price as the seller wanted it sold at a price that let them move (relatively) quickly, perhaps they did not like living on the ground floor for some reason, perhaps prices have gone up since then - who knows. 
If you like it and would be disapointed at losing it, then you will need to start the hunt again and find one where you are happier with the price, otherwise if you like this one, you will need to pay the amount that the seller agreed and that they are clearly not going to reduce. 

theoretica

Buying a home isn't just about the one property and if the price is a good one for it - if you walk away from this one how many others are there in your price range that you would be happy with - what is your plan B?  Did you see lots of other decent options before offering on this one?

HotPantsCruiser

iSilent101 said:

HotPantsCruiser said:

Won`t the vendor just run into the same problem with the next potential buyer though?

This is what we were thinking but she does not want to budge and has given us until tomorrow midday to make a decision.. 

If it was valued at 300k why not just make that your final offer, as others have said the next valuation will probably just be that figure again?

Schwarzwald

iSilent101 said:

canaldumidi said:

Neither you nor the vendor is being unreasonable. It's a negotiation.

If the vendor does not budge and you walk away, how will you feel? Relieved not to have over-paid? Disappointed not to have the flat you love?

If the vendor does not budge and you pay the agreed price, how will you feel? Cheated and permenantly annoyed with yourself and/or the vendor? Happy to have got the flat you really want?

I think we would be disappointed to lose it, it meets all our needs. However, if we were to go ahead with the 320K, we would be happy with the flat but annoyed/cheated on due to the valuations and they have not even cared to address the lease length being 10 years off from what we were originally told when we agreed to the 320K offer. I think we would also be stressed in case we lose out money when we come to sell..

If above is the case, doubt it is worth losing it for the 10k (3%) difference.
Price and value are two different things.

maybe argue with the lease length and try to get 5k off, but I wouldnt get too focused on the two surveyors’ opinions, especially not if you plan to own the property long-term.