Shall I hold out 4 more?

yummy_mummy_of_3

boinging wrote: »

I take it you don't live in this house? Judging from the lack of funiture (or maybe you are a minimalist :rotfl: )

Given the moving market (downwards), what will you save by selling now versus 1 month extra mortgage, 2 month extra mortgage etc...

I would be very much inclined to accept the offer, with the clause that because their offer is much lower than you wanted you'll keep the property marketed until exchange. This would a) prompt them to move quickly and b) see if it is their final offer c) give you a chance to see if the market value is actually any higher.[/quote
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LOL no we don't live there. we used to let it out. Thanks for the advice think I will be ringing up Monday to accept the offer with the clauses you have suggested. oh after i've consulted hubby of course.

yummy_mummy_of_3

ffacoffipawb wrote: »

Hmmmm ....

http://www.houseprices.co.uk/e.php?q=Outram+Road+Chesterfield&n=100

Number 33 went for £97,600 in February last year. If the house is similar to yours (looks like it may be over the road), in the current poor market it's not a bad offer at all. I'd be tempted to take it, unless I could push them up a little bit without scaring them off!

The house you are talking about is exactly the same as our (has a drive though) but at the time needed complete renovation,An investor bought it and tried to sell in september (like us.) It was up for 125K but didnt get much intrested and No offers. In November they decided to let it out Instead.

tomstickland

You need to work out what the second mortgage is costing per month and increase your target price by that much every month. You'll probably realise that accepting £97K now is better than accepting £110K 6 months later.

Set yourself a deadline. If you have no better offer in n weeks time then accept the £97K and move on. I'd be inclined to take the money myself.

macaque_2

yummy_mummy_of_3 wrote: »

Our house has been on the market since end of september, we are paying two mortgages and are a little streched.We have had quite a few viewings and an offer of 97,500 It was valued at 120K. Please could you take a look at the house and tell me what you think and if the offer is good or not.
Thanks all. http://www.rightmove.co.uk/viewdetails-18199937.rsp?pa_n=1&tr_t=buy

You are asking people to make a judgement on an offer when they don't know your area (and/or this price range). If you can honestly tell us what a realistic asking price would be, we can honestly tell you whether this offer is sensible. Unfortunately, home owners are about as reliable as fishermen when it comes to valuing their own houses.

space_rider

I have twice put in an offer on seperate houses in last 18 months and it was declined. One thought that he could get more and ended up keeping the house for another 6 months and ended up selling it at less than I offered. Another one I offered 160,00 and he refused. It`s been on market for over a year and it is now down to 150,000 and still not sold. It is a buyers market and with prices going down not up I would take it.

benood

If you don't want to lose them how about saying that you'll accept their offer but plan to keep marketing until they've done their survey - ie shown they're serious - that way you can flush them out and give the EA a short while to drum up another offer. Won't work if the EA is lazy but I guess fewer are just now!

Chilibean_2

My advice would be to accept the offer. You don't want to be chasing the market down, and as you have seen another property you love, and especially if someone else is after it, as was my case, go for it now!
My new house is going to stretch me to the limit, but it's perfect, good area, good school, and I don't need to lift a paintbrush. As far as I can tell it's worth the sacrifice of a couple of grand.
If you want your new place so much then go for it!

jonewer

dmg24 wrote: »

I would be surprised if it really is the maximum they can pay, people will always say that.

Its not a question of can pay its a question of will pay

We are looking at buying and can pay up to £525 for a place but will pay around half that.

lynzpower

The thing is the neigbour put his on at 125 and couldnt get it- it wasnt worth that and that was last september, when sentiment was certainly much better than it is now, and lending conditions were easier. Now times are changed, and we dont know for sure how long it will last for.

I would also take what they are offering, maybe push them a little bit, but if you do that be prepared to take a hit if there are any issues arising after survey.

yummy_mummy_of_3

We are not buying another property as we bought it last year and let the one out that we are trying to sell.We were told to market it for 120K but thought this was too high so instead went for 112,950 in hope of a quick sale. We would like about 109K but are worried about holding out for more incase house prices go down. We now have 4 children and are living in a 3bed house thats why we need to sell so we can convert our loft.
Thanks for all you advice xx