What constitutes a 'realistic' offer?

Gillibobs

Whereabouts in essex are you? We have just bought a house in Brentwood for £268k, and I do agree to a certain extent with people's comments about the stamp duty threshold. Our budget was £280k but we were loathe to pay anything over £250k due to the stamp duty. However in the areas we were looking in (within 10ish mins walk of the station due to commuting) most houses around this price were two bed cottage style. There were very few larger properties on for around our budget and in the end we stumped up for stamp duty as the amount of house we got for the money was worth it compared to saving around £7k stamp, getting a smaller property and having to move again in a few years, now we can stay here for the foreseeable future. I guess basically it does depend on how your house fairs compared to others that are priced around the stamp duty threshold, and the types of buyers out there.

Good luck anyway

SuzySu

What a coincidence Gillibobs - we are in Brentwood too!! Whereabouts did you buy? I have spoken with the EA this morning and he told the purchasers that their offer was too low. Dropping 25K does seem a bit cheeky.... They are going to come back to him today so fingers very tightly crossed.

There are properties for lower than ours, but ours offers so much more in terms of space - not necessarily a bigger house, but we have our own driveway with carport, a real fireplace, solid oak flooring, a conservatory (ugly, but functional) and planning permission (lapsed) for an extension which the purchasers were very keen on.

Please keep your fingers crossed as we really need this sale.

pickles110564

SuzySu wrote: »

but we really need to sell asap as we aren't even making our monthly repayments on our mortgage.

quote]

Suzy I would make one repayment every so often so that they will find it hard to reposses, dont let them sell at auction because it could go for peanuts and you will still be responsible for any outstanding debts.
Think long and hard about not accepting £250k offer because it might be a long time before anyone else comes in and then they might offer less than £250k and if you wait too long without paying mortgage you will really be in the mire.
best of luck
Pickles

SuzySu

Eeeeeeeeee......they have just upped their offer to £260,000!! We have said that if they can offer £256,000 then they have a deal. I really really hope they can as this would solve most of our worries......

Everyone's figures must be so tightly crossed for us....please don't stop.

ginvzt

Good luck!!!! I hope your house will be 'Sold STC' by the end of the day!

Doozergirl

I have fingers crossed for you.

Jorgan_2

What position are the buyers in? Have they agreed a sale on their own property or are they chain free?

SuzySu

Jorgan, they are chain free (renting at the moment) so ideally placed. There is no chain on our side either as we are moving into rented. They were buying a house for £250,000 which fell through, hence their original offer.

Thanks so much for all your interest and support - hope I can do the same for you one day!

Gillibobs

SuzySu wrote: »

What a coincidence Gillibobs - we are in Brentwood too!! Whereabouts did you buy? I have spoken with the EA this morning and he told the purchasers that their offer was too low. Dropping 25K does seem a bit cheeky.... They are going to come back to him today so fingers very tightly crossed.

There are properties for lower than ours, but ours offers so much more in terms of space - not necessarily a bigger house, but we have our own driveway with carport, a real fireplace, solid oak flooring, a conservatory (ugly, but functional) and planning permission (lapsed) for an extension which the purchasers were very keen on.

Please keep your fingers crossed as we really need this sale.

We bought on a road just north of the High street...The Vale just off Western Road. There are loads of properties still going on the market at over the £250k mark and some of them are a lot smaller than ours (which is a 3 bed end terrace with ground floor extension). Whereabouts is the place you are selling?

Good news on the offer, hope they come up to the £265k mark for you.

Jorgan_2

SuzySu wrote: »

Jorgan, they are chain free (renting at the moment) so ideally placed. There is no chain on our side either as we are moving into rented. They were buying a house for £250,000 which fell through, hence their original offer.

Thanks so much for all your interest and support - hope I can do the same for you one day!

They are in a good position, good luck I hope you get the offer you want/need.