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Reducing offer - advice needed
TBeckett100
Posts: 4,732 Forumite
We saw a house on the market at 195k and we offered 190k which was accepted.
There were a fair few for sale boards down the road and after an internet trawl, it would appear the green opposite is owned by a a water authority and will be deativated in 2009. there is a plan to build 120 properties, flat and houses mix with 40% destined for "social housing".
With each house/flat having one space, the parking siitaution, which to be frank is tight now, will be made worse as most houses have more than 1 car.
Coupled with the £1k downvaluation from the valuer and the fact that we have decided the living room is too small and will require extension (5k) should we go back and ask for a reduction in price to cover these risks.
P.S. The house was bought in 06 for 50k less, so the seller has made a healthy profit.
There were a fair few for sale boards down the road and after an internet trawl, it would appear the green opposite is owned by a a water authority and will be deativated in 2009. there is a plan to build 120 properties, flat and houses mix with 40% destined for "social housing".
With each house/flat having one space, the parking siitaution, which to be frank is tight now, will be made worse as most houses have more than 1 car.
Coupled with the £1k downvaluation from the valuer and the fact that we have decided the living room is too small and will require extension (5k) should we go back and ask for a reduction in price to cover these risks.
P.S. The house was bought in 06 for 50k less, so the seller has made a healthy profit.
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Comments
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The housing development definitely makes a difference. The lounge being too small is your own opinion and something you knew about when you originally offered. If that had been your only justification then you probably wouldn't get very far. I'd probably not even mention that one and focus on the proper issue.0
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40% social housing in the development would mean 48 social houses... so a high chance of getting a problematic neighbour!!
As someone else pointed out the other day, 99% of housing association tenants are fine, but it's the other 1% that cause 99% of the problems!
I'd be more concerned about the parking situation though. Most households have 2 cars nowadays, so even if only half the households have a 2nd car, then that's an extra 60 cars in the street!!
Unless the property you're buying comes with at least 2 private parking spaces, I would seriously reconsider! Having to fight for parking spaces day in day out is tiresome and tedious, and a MASSIVE turn-off for potential buyers if you ever want to sell!Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
Why pay £50k more than it sold for 18 months ago?
Given the development issue I would probably just withdraw my offer completely.
If you are still keen, start by withdrawing your offer and let them come back to you.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
we have pulled out now.0
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and now we are back in several grand lower.
running a comparison on what we could get for our money now at the same level, i think we have had a blinding deal.0
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