Offer on house rejected..not sure how to proceed.

twoLou

You can ask the agent what the seller of the one you like is looking for to take it off the market.
I’ve done that many times and a lot of agents will give you an idea.

It sounds if it’s been on and off the market for a while that they have unrealistic expectations of the value.

You are in a great position as a buyer so put forward you maximum offer if you like but say you will obviously continue to look at other properties.

billy2shots

housebuyer143 said:

I imagine the house is already priced taking into account all the obvious work you can see and want to do, so asking for money off because of that seems strange, but you can of course offer whatever you want.
I would ask if they have probate yet because if not you could be waiting endless months for this to be granted.

This x100

Not aimed at the OP but a general grumble. 


It amazes me the amount of buyers who think obvious work needed hasn't been factored in before pricing and going to market. 

Unforseen costs later picked up in a survey may reduce purchase cost, a property sitting empty for months might result in a lower offer being accepted,  frustration  and just wanting rid of the place could  lead to better negotiations. 

Telling someone you are offering less because you need to spend money on something that has already resulted in a lower asking price is probably  not going to go down well with a seller. 

To the OP. 

What is 3% over a 25 or 30 year mortgage? How will you feel if you don't get it?

If 3% over 25 years is top much yo swallow or you could easily move on and not regret buying then let it go. It might come back to you. 

If 3% over your mortgage  term isn't a big deal and if you would regret missing this house then go and buy the place. You don't have to renovate everything straight away. Do the essentials first then save to do the next bit. 

Flugelhorn

YoungBlueEyes said:

Just back up a bit. "The kitchen is not safe" - what does that mean? If it doesn't have a functioning kitchen, will buyers who need a mortgage have trouble with it? 

  my thoughts too - no kitchen, no mortgage

YoungBlueEyes

Also OP - you're chain free as you've sold your house, so will you be a cash buyer or need a mortgage?

Edit - I wonder if that's why it's been on the market so long without offers, despite being "rarer than hens teeth". If it's not mortgageable (sp?) because of the kitchen, and it's a bit toppy on price because the seller isn't going to let his mother's house go 'for less than it's worth', then it'll be sat on the market a whole lot longer...

Dustyevsky

Flugelhorn said:

YoungBlueEyes said:

Just back up a bit. "The kitchen is not safe" - what does that mean? If it doesn't have a functioning kitchen, will buyers who need a mortgage have trouble with it? 

  my thoughts too - no kitchen, no mortgage

I doubt that's the full story, especially if plumbing's already been done there. A kitchen used to be a working sink and not a lot more. Has that changed?

'Not safe' must mean electrics or something in imminent danger of collapse.There's maybe a number of things which are putting potential buyers off, and for a long time too. What's the agent doing about it? It's not in their interests having this albatross hanging around.

Flugelhorn

agree @Dustyevsky quite hard to to have a non functioning kitchen if the elderly lady had been living there - likely the kitchen is OK just may have doors hanging off, lacking in modern appliances etc etc - we moved into one where kitchen was ghastly and battered  but actually functioned and we didn't round to replacing it for over a year.

Dustyevsky

Flugelhorn said:

agree @Dustyevsky quite hard to to have a non functioning kitchen if the elderly lady had been living there - likely the kitchen is OK just may have doors hanging off, lacking in modern appliances etc etc - we moved into one where kitchen was ghastly and battered  but actually functioned and we didn't round to replacing it for over a year.

Likewise, our DD2 had a sink, draining board and not a lot else, and the ceiling fell in between exchange & completion, but the mortgage was solid. House was a bargain, though, so she wasn't fussed.

gazfocus

billy2shots said:

housebuyer143 said:

I imagine the house is already priced taking into account all the obvious work you can see and want to do, so asking for money off because of that seems strange, but you can of course offer whatever you want.
I would ask if they have probate yet because if not you could be waiting endless months for this to be granted.

…It amazes me the amount of buyers who think obvious work needed hasn't been factored in before pricing and going to market…

It amazes me the amount of people on this forum that still believe estate agents are pricing properties based on the obvious work needed as this certainly isn’t the case where I’m buying. 

I’ve posted before that two houses in our area are very similarly priced and are priced entirely based on the square footage rather than condition and this seems to be the norm in our area at the moment. 

billy2shots

gazfocus said:

billy2shots said:

housebuyer143 said:

I imagine the house is already priced taking into account all the obvious work you can see and want to do, so asking for money off because of that seems strange, but you can of course offer whatever you want.
I would ask if they have probate yet because if not you could be waiting endless months for this to be granted.

…It amazes me the amount of buyers who think obvious work needed hasn't been factored in before pricing and going to market…

It amazes me the amount of people on this forum that still believe estate agents are pricing properties based on the obvious work needed as this certainly isn’t the case where I’m buying. 

I’ve posted before that two houses in our area are very similarly priced and are priced entirely based on the square footage rather than condition and this seems to be the norm in our area at the moment. 

It could be argued that buyers will change kitchens, bathrooms, carpets etc to their personal taste, now or at some point in the future. 

Square footage increase isn't always an option. 

lookstraightahead

Ignore other potential threats. Don't get into their silly games. Either offer more as final. Or say sorry this is final and look at other properties. 

We sold an inherited property that needed doing up and took an offer of about 8% under as the buyer was ready to proceed. 

Has the seller gone through probate? Is everything finalised as that could take ages.