Made offer - now another property come on the market much cheaper!

Dummie_2

Hello

Today I made an offer on a rental property. It's a ground floor 2bed 1recep flat. There are no built in wardrobes and no freezer or microwave. It's being marketed at £795 and I made an offer of £750. I've not heard back from the LA. They said the LL needed to make some calculations. It's been on the market for more than 1mth now and is currently empty as the last tenants moved out 1wk ago.

Anyway, I've just seen on Rightmove another 2bed flat in the same block come on the market being marketed at £660. It's on the 1st floor, includes a garage and faces the garden compared to the other which faces the road. I've not viewed it yet so I don't know what condition the flat is in or what white goods are included.

This has thrown me and I'm unsure what to do. Shall I call the LA and tell them about the other flat and ask them to review their asking rent? Or would it be better for me to view this new flat first so at least I know what I'm dealing with which may give me more bargaining power?

Sorry, I don't mean to be dumb. I am rubbish at playing these games but having recently seperated from my husband and with a special needs toddler to take care of, I need to save the pennies.

Thank you in advance for your help and advice.

secondtoughest

Definitely see the other place, you'll be tied into this for 6 months minimum so you need to see the alternatives.

I can only speak in my experience but ground floor flats aren't much fun - but if stairs are an issue for your child then it may be the better option

I'd tell the LA I was looking around the cheaper property, and you won't sign anything until you've seen it. Even if it's crap, lie to the LA and say you like it (talk up the positive points) and that you'll only take the first one with a price reduction.

Unless you need to move NOW you'll be okay - you know that £795 is above market area price.

BTW what area of the country is this? £795 is high for a 2 bed flat so I'm guessing south east?

ruggedtoast

I wouldnt just view that flat Id view a few more too. Looking about is the only way youll work out the going rate for properties.

bigjoe

Definitely view the other - at worse it is a valuable bargaining tool. Then look at others. Sounds like you jumped in without perusing the market first. :money:

Dummie_2

secondtoughest wrote: »

BTW what area of the country is this? £795 is high for a 2 bed flat so I'm guessing south east?

We're in Farnham, Surrey.

I am somewhat limited in which flats I can go for because I don't drive and travelling on public transport is quite stressful for my toddler (and me!) so I'm targeting flats near the town centre. I've been looking for 6wks now and only 3 flats under £800 have come on the market.

I did honestly think that £795 was reasonable because most are on the market for more than that.

Thank you for your advice. I will call to arrange a viewing tomorrow.

bigjoe

Well good luck to you and I hope you find the perfect home very soon.

secondtoughest

I did honestly think that £795 was reasonable because most are on the market for more than that.

I'd look at the cheaper one, you've nothing to lose. Don't let the LA pressure you into signing anything until you're happy. My mates have just given over £50 as a non refundable holding fee on a flat while their credit check is completed :rolleyes:

Good luck!

carolt

Sometimes flats are cheaper because they are in a worse state of repair; sometimes the landlord just wants an easy life and to avoid void periods;sometimes they live far away/abroad and don't really have a clue what the going rent is. The first reason is the most likely, but that need not be all bad if you have a toddler, as toddlers can wreak havoc with nice decor (my toddler did things like ripping wallpaper in our rented flat at the time - luckily it was pretty manky anyway, so they didn't care and didn't take anything off our deposit when we left....).

Good luck!

poppy10_2

carolt wrote: »

; sometimes the landlord just wants an easy life and to avoid void periods;sometimes they live far away/abroad and don't really have a clue what the going rent is.

I'm paying £200 under market rent for my place because of this:jThe last person who rented out my place was here for 7 years with no rent increase over this time, and I'm paying the same rent as them. LL doesn't mind as it more than covers his mortgage.

useless

Dummie wrote: »

We're in Farnham, Surrey.

I am somewhat limited in which flats I can go for because I don't drive and travelling on public transport is quite stressful for my toddler (and me!) so I'm targeting flats near the town centre. I've been looking for 6wks now and only 3 flats under £800 have come on the market.

I did honestly think that £795 was reasonable because most are on the market for more than that.

Thank you for your advice. I will call to arrange a viewing tomorrow.

I agree - £660 is a definite bargain for this town which is particularly expensive. I hope you got to have a look at this one.

As people have already mentioned - it might be that the landlord prices it low to make sure it's always occupied. Or it might be in worse condition than the other one - which could just mean the decor is a bit dated and the other one has had a refurb.

good luck!

Dummie_2

Hello

Thank you for all your replies.

The appointment to view the £660 flat is on Friday morning. Very much looking forward to it. I'm preparing myself for it to be in quite a state though. Either that or it's haunted or something!

The LA of the £795 flat called me today. The LL says my offer of £750 is too low and is willing to meet me at £775. I told the LA about the £660 flat. I apologised as I really don't mean to mess her around but she seemed quite understanding. She even encouraged me to view the flat and told me that she had no viewings on her flat for the rest of the week!

Fingers crossed for Friday!