Should we except this offer???

musicman100

We have had our house for sale since April for £280,000 for 4 bedroom house in the Yorkshire Dales. We are planning to move to Austria in the summer so we need to sell. We have been offered £255,000 and the person has said they will not offer any more. Should we take the offer???

We are on a new estate and there are 3 other 4 bedroom houses for sale but none have sold yet ( one has been for sale since the start of 2004!!!!!).

What do people think???

Thanks

Musicman100

Helen_from_yorkshire

If I had made plans to move abroad, yes I would sell for £255,000. I understand there are plans to bring in new legislation in the Yorkshire Dales specifying that owners can only sell to locals - is this in force yet? If its not and the legislation is due to come into force fairly soon, then this will reduce the prospective buyers for your property and potentially your house could be on the market for a lot longer.

musicman100

Thanks for the reply. We live just outside the national Park and that rule will only affect new builds!!

Musicman

alanobrien

musicman100 wrote:

We have had our house for sale since April for £280,000 for 4 bedroom house in the Yorkshire Dales. We are planning to move to Austria in the summer so we need to sell. We have been offered £255,000 and the person has said they will not offer any more. Should we take the offer???

We are on a new estate and there are 3 other 4 bedroom houses for sale but none have sold yet ( one has been for sale since the start of 2004!!!!!).

What do people think???

Thanks

Musicman100

I guess it depends on where you are but 9% ish below the asking price seems to much to me, but that assumes the agent got the price about right to begin with.

In south bucks, at least where i live places are still selling at close to the asking price.

I guess it all depends on how much you want to move and how quickly. From the sounds of it locally to you there is a high level of available similar housing stock on the market so that will have a negative impact on the sale price.

No easy answers here, i guess you makes yer choice!

Midas

You should probably accept it rather than except it. :rolleyes:


Sorry, the pedant will go and fetch his coat now...:o

mrcow

Is it a serious offer? What feedback have you had from the estate agent? Have these buyers been looking at lots of other properties, or are they just trying their luck do you think?

Can you afford to take £255k? Or more to the point, can you afford for your house to be on the market for as long as the other houses that haven't sold? If it's going to scupper your plans for moving abroad, then take the money and don't look back I suppose. But if the low offer is going to ruin what plans you have for your next move, then maybe try and play with the negotiations (but possibly lose the sale).

It's all a question on how you feel about your position. You state that it's a new estate, what did you actually pay when you bought it? And how much other interest have you had in the three or so months that you've been trying to sell?

It's all relative I guess and dependent on your personal circumstance. I'd be inclined to take an offer within 90% of my asking price quite seriously (although be careful that they don't then try and drop it a further £5k to drop out the 3% stamp duty threshold ).

musicman100

Spelling was never my strong point!!

Musicman

musicman100

Thanks for all the post.

The price of the other 4 beds on the site is £285,000, 275,000 ( same type of house as ours but not as big garden as ours and not as good position!!)and 265,000( this started at 295,00 about a year and half ago) but none have sold yet!!! ( and one that was taken of the market)- In fact since the setate has been built in 2002 none of the 4 beds have sold.


The price of 280,000 was probably a bit high. It should have been £270-275,000.

The person making the offer has not put an offer on any other house ( he does know we are moving aborad !!! He been talking to the neighbours).

We paid £155,000 for it in 2002. We have had 3 viewings since Easter. So not a great amount of interest. Taking the low offer will not stop our plans we might have to look at a smaller house over there.

Musicman

sneekymum

Houses always sell for exactly what they're worth - so accept before you're stuck with a lower offer...

Ember999

I'd take the offer, the market is cooling and buyers can be choosy. Better a sale than to have your property sit there unsold for maybe months, years possibly. It seems reasonable to me when you take into a/c what you actually paid for it in what amounts to only a few short years ago. You have made a huge amount of profit with the housing boom, take your money and run...enjoy your new life abroad!

mrcow

Not wanting to be pushy but having read your latest update, I'd personally take it. (And that is a PERSONAL opinion).

Especially if other houses have had to drop their prices so much and still aren't selling.

We bought our current place in 2002 for £192, and if we'd made anywhere near £100k (which I'd very much doubt!) on it, I'd be jumping on the buyers like they were my best friends (especially if I thought that the selling price was a little OTT).

You've got other things in your life that you want to be getting on with, don't let your house sitting on the market forever and a day hold your future to ransom. If you are confident that these people are serious buyers, then good luck.