What constitutes a 'realistic' offer?

SuzySu

I know Gillibobs....that's ideal for the High Street, Sainsburys etc. We are actually in Shenfield (Hutton - 3 bed semi with own driveway) and 10 mins walk to Shenfield station which is brill. We love our location - it's got local shops 1 min walk from us (supermarket, hairdresser, Indian, Chinese, nice bakery, florists). Can't get a lot in Shenfield for less than £250,000 so I hope we're ok to hold out for £265,000.

Gillibobs

SuzySu wrote: »

I know Gillibobs....that's ideal for the High Street, Sainsburys etc. We are actually in Shenfield (Hutton - 3 bed semi with own driveway) and 10 mins walk to Shenfield station which is brill. We love our location - it's got local shops 1 min walk from us (supermarket, hairdresser, Indian, Chinese, nice bakery, florists). Can't get a lot in Shenfield for less than £250,000 so I hope we're ok to hold out for £265,000.

Yes it's a great location and really loving Brentwood since we moved here (previously in Romford so it's a bit nicer! better choice of restaurants and pubs) Don't really know Shenfield that well although I'm sure I will get to know it. Sounds like you have a great location I think we briefly looked at Hutton but like you said not a lot really for less than the £250k as they tend to be 3 bed houses and bigger. Hope you get the £265k you're looking for! Keep us posted:)

SuzySu

Well the EA went back to them and asked them to improve on their offer of £260,000. She said she would have to speak to her husband after work which was after the EA shut.....so..... still waiting this morning to see whether this will all come together. I have a feeling that they might offer something in the middle (eg £262,500). If this is the case we will have some serious decision-making to do.

Will keep you posted.

RHemmings

SuzySu wrote: »

In response to Strapped, unfortunately we would not be allowed to sell at £250,000 as this would not cover our mortgage and secured loan - we need to sell for at least £265,000 to cover these.

If you simply cannot sell for less than £265K, then it might be simpler to simply tell all prospective purchasers that.

Otherwise, could you reduce the outstanding mortgage by borrowing money from elsewhere? Yes, since you already have debts and couldn't use the house as security, that may mean that you can't borrow the money from elsewhere.

Do you have an expensive car you could sell?

SuzySu

Not really, only worth about £2000 but thanks for the idea - still waiting for that phone call. I've got no fingernails left now. Is no news good news.....? I hope so :rolleyes:

stolt

good luck op, we wanted to buy in brentwood/shenfield (was hoping for a 4bed property) but the prices there are still really high for what you get, we have since find a really nice hosue in rayleigh where we currently live uits been on since september at £475k and was dropped to £450k in the new year, we offered £375k but it was declined, made a offer of £415k yesterday and basically the seller said to the agent no and its not worth putting in anymore offers below £450k as they will not listen to them........ that told me. Were in no rush so were going to hold out a few months, there doesnt seem to be anything new coming on the market, not sure if thats just the time of year or the current market, but i'm fed up looking at the same old houses on rightmove now and me and the missus get excited (i know its sad) when a new one comes on, even if it doesnt interest us!!


good luck with the offer, sounds like it coudl all work out for you.

SuzySu

Well the news is in.....they can't increase their offer . We can't take lower than £265,000 and they can't go higher than £260,000 so we are well and truly stuck. It's so so disappointing.

However, it's not all doom and gloom. We have another viewing booked for this Saturday who has nothing to sell.

Do any of you have any ideas how we can bridge this gap of £5,000 and not lose this sale completely??

rach29

I'd hang it out if I were you, They may decide over the weekend that they can go to £265,000 after all. They may have told EA that's all they can raise to get you to accept it so all you have done is throw the ball back into their court. They obviously really like your house so you never know a few days to think about it may change their minds.

And there's always the viewing coming up. Why not let the new viewer know you've already had an offer but it wasn't quite high enough (slip this in when you are showing them round) I did this when I sold my last property & hey presto I had an asking price offer within the hour!

Good Luck & stay positive

happinessfactory

What Rach29 said:D

But if your new viewer doesn't come in with an offer, SELL SELL SELL. You've done exceptionally well to get shot of your house in this market at a price above the SDT, so son't lose them for the sake of £5k :T

Jorgan_2

Are all the loans you are paying off secured on the property?