Buying my old house back after 3 years

agh321

hi I need advise on buying my old house back I sold it 3 years ago for 400k and now regret it but now it’s back on the market for 460k the new owner has done nothing to it and he’s let it go

I’ve offered 425k cash and he won’t accept my offer he says wants 440k but I feel 40k in 3 years is delusional as other houses in my area have have made 4% over 3 years so it should be up fot

£415 not £460

what’s your advise

ellenvan

Depends how much you want the house.

You could risk waiting and see if he has any other offers.

TadleyBaggie

You have no leverage, so either you pay what the seller wants or forget it.

FreeBear

House at the end of my road sold for £400K back in 2021. Sold again last year for £440K.

Another one has come on the market the last couple of weeks for £400k - Last sale was 2019 for £285K.

Depending on where your property is, a £40K in three years is quite possible. If you want an accurate valuation, ask a RICS surveyor to have a look.

sheramber

How much do you regret selling it?

Ms_Chocaholic

If you didn't get it would you wish you had paid full asking price.

TroubledTarts

What do you think you can say to the person selling the house to change their mind?

There is no organisation that can force someone to sell for less money if they don't want to.

fourmarks

https://forums.moneysavingexpert.com/discussion/comment/82008970#Comment_82008970

I believe the Mafia have had some success in this area of operations.

TroubledTarts

https://forums.moneysavingexpert.com/discussion/comment/82009001#Comment_82009001

Lol I should have caveated that and forced land purchase 🤣

Horses head anyone?

Myci85

It probably comes down to how much you want to buy this house. It might not be worth that much in general, but how much is it worth to you? If you stick to a low offer and someone else buys it, will you wish you had paid the extra and been the one to get it? Or would you be happy with a different house, you're just not happy in your current one?

The vendor is probably well aware that they may be able to get you to pay more than someone else, as most people don't buy their old place back, unless they really regret selling in the first place.

Grumpy_chap

https://forums.moneysavingexpert.com/discussion/6669500/buying-my-old-house-back-after-3-years

Well, for you, the only property in existence that can remedy your regret at selling is this property. There truly is no other property that can do that for you. Hence, for you as a buyer, the value is higher than the open market price for any other buyer.