Should I write a letter to the seller to make a a case for why they should accept our offer?

ReadySteadyPop

dinosaur66 said:

ReadySteadyPop said:

hulu72 said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

Not if interest rates go up, then you will probably lose money.

ReadySteadyPop said:

hulu72 said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

Not if interest rates go up, then you will probably lose money.

in london ?

i bought  property in stratford 1989 and 1998 

one has increased 9 x what i paid and the other 10 x what i paid 

The poster is buying in 2025.

dinosaur66

ReadySteadyPop said:

dinosaur66 said:

ReadySteadyPop said:

hulu72 said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

Not if interest rates go up, then you will probably lose money.

ReadySteadyPop said:

hulu72 said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

Not if interest rates go up, then you will probably lose money.

in london ?

i bought  property in stratford 1989 and 1998 

one has increased 9 x what i paid and the other 10 x what i paid 

The poster is buying in 2025.

?

from memory she is in her 40s and said she will require somewhere around 350k mortgage / i would have to go back and re read thread for correct ammount

so in 25 years time mortgage paid off it will have cost her 200k in interest payments at 4% intrerst rate average over the 25 years

and you say a london house in 2025 that will sell in 2050 will not have gone up by 200k in that timeframe

london house prices have risen 250% to 300% on average over the last 25 years

incus432

Mute that guy  - a very tedious obsessive

maxxpayne

thegreenone said:

If you have the extra £25k in savings and still have enough for SDLT and moving costs, emergencies etc - go for it.  Sometimes the heart needs to slide into the head.

We had a similar situation when we bought here.  We both had the Heart feeling and decided to push ourselves financially. Some tough times, particularly when the children were young but here we are six weeks away from living here for 30 years and wouldn't have changed a thing.  

Yup we have to stretch ourselves. My wife will pay the SDLT so I have some backup. 

maxxpayne

Update time again. 

Thank you everyone (as usual, this forum is immensely helpful). The seller has accepted the offer 🎉 

Guess now we rush to beat the stamp duty rise in April. 

kinger101

maxxpayne said:

Update time again. 

Thank you everyone (as usual, this forum is immensely helpful). The seller has accepted the offer 🎉 

Guess now we rush to beat the stamp duty rise in April. 

Congratulations

Hoenir

maxxpayne said:

Update time again. 

Thank you everyone (as usual, this forum is immensely helpful). The seller has accepted the offer 🎉 

Guess now we rush to beat the stamp duty rise in April. 

That's somewhat optimistic. There's only 33 working days left before the clock strikes 12. 

ReadySteadyPop

dinosaur66 said:

ReadySteadyPop said:

dinosaur66 said:

ReadySteadyPop said:

hulu72 said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

Not if interest rates go up, then you will probably lose money.

ReadySteadyPop said:

hulu72 said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

Not if interest rates go up, then you will probably lose money.

in london ?

i bought  property in stratford 1989 and 1998 

one has increased 9 x what i paid and the other 10 x what i paid 

The poster is buying in 2025.

?

from memory she is in her 40s and said she will require somewhere around 350k mortgage / i would have to go back and re read thread for correct ammount

so in 25 years time mortgage paid off it will have cost her 200k in interest payments at 4% intrerst rate average over the 25 years

and you say a london house in 2025 that will sell in 2050 will not have gone up by 200k in that timeframe

london house prices have risen 250% to 300% on average over the last 25 years

Credit conditions are looking very unlikely to mirror the last 25 years over the next 25, 4% over that timeframe is HIGHLY optimistic in my opinion.

ReadySteadyPop

Hoenir said:

maxxpayne said:

Update time again. 

Thank you everyone (as usual, this forum is immensely helpful). The seller has accepted the offer 🎉 

Guess now we rush to beat the stamp duty rise in April. 

That's somewhat optimistic. There's only 33 working days left before the clock strikes 12. 

Yes, that won`t be doable unfortunately.

maxxpayne

ReadySteadyPop said:

Hoenir said:

maxxpayne said:

Update time again. 

Thank you everyone (as usual, this forum is immensely helpful). The seller has accepted the offer 🎉 

Guess now we rush to beat the stamp duty rise in April. 

That's somewhat optimistic. There's only 33 working days left before the clock strikes 12. 

Yes, that won`t be doable unfortunately.

Agree. Worth a try though?