advice needed re bidding

dprovan

Hi

need some advice as I am in love with a house and want to know how to progress. (for those who say you shouldn't fall in love with a house, I understand this view but I am buying a home and not so much an investment)

my house has been on market for 14 weeks, only 2 viewings (same for all houses in mines price range, so not so much the price or condition etc).

We have already lost out on 2 houses both on the market for over 9 months, because we couldn't progress etc.

Anyway the house we have seen is offers over 275k, it ticks every box and more and went on market today (yes we viewed it first day). I would be prepared to offer anything up to 300k. The lady who owns it has had it in family for 30 plus years and I feel we buildt a rapport with her son who is acting on her behalf.

So my question given that it is literally on the market is it worth my while bidding, given my situation, would you consider asking what they want and offer hoping theyd be prepared to accept and take off market and wait for me to sell (I realise this is unlikely). What would others do in this situation?

thanks

The_Biff

Just using common sense, I would talk to them & say that you are prepared to pay £x for the house (close to asking price) but you would reduce the asking price on your present house by £5/10k (or other amount)to get it sold.
See what they say & hope nobody has a cash offer.
I would also mention that you want to keep it as original as possible & enjoy it as a family home. (Better than knocking it down & building flats)

Doozergirl

If someone in your position asked me the same question, if I really liked them I would consider putting a hold on marketing for a short period, for the right price. BUT I would want to see the details of the house that they were selling, check the price and how long they had been on for.

I hate to say it but the fact you have had 2 viewings in 14 weeks is all about price. That's beyond dreadful. If you dropped the price of your house by 50% tomorrow that you'd still only get that number of viewers? The market in your area may be saturated with your type of house, but as you can't change the housing stock, how are you going to sell? Someone is buying houses like yours, but I bet they're buying at a lower price.

Have you called estate agents as a potential buyer? Tell them what you're looking for (eg. 3 bed semi with garage) and see what they send you. In fact, have you called your own agent as a potential buyer? Get a friend or relative to do it for you.

Check houseprices.net to see what other houses have sold for recently and please, change your agent to one that is going to be proactive. Have they suggested a price reduction? I guarantee they've lost all interest in your house now and it's at the back of the drawer.

Ultimately, the only way to buy is to sell first. You're going to keep missing out until you make a drastic change. If, by some miracle these people will wait for you, how long can you make them wait? If it takes an average of 12 viewings to sell, at the rate you're going, you'll sell in 70 weeks time - thats Christmas 2006!

I'm so sorry to be harsh.

dprovan

thanks for the replys

i agree about emphasising it being a family home, afterall its been a family home to the one family for 35 plus years.

re my house, I know what you are saying, however I know the market here very well, and in the time I have been looking houses 200-230k are moving very slowly, all and I mean ALL houses in that price range that have went up in last 6 months on property news (our equivalent to rightmove) are still unsold. The estate agent Im using is by far the best agent in area. What you say re houses may make sense in some areas but not all, one of the houses I missed out on was on for offers over 285k it sat for 9 months with not one offer, I bid 285k ( you would say mad because it sat for 9 months, but here is a different market) and within 6 weeks it sold for 335k.... so explain that,,,my guess here is that houses are over priced so they tend to sit for 6 months or so before they then look like good value,,,, but every estate agent I have spoke with in this area is saying the market is dead, they all hope because of the summer holidays

GDB2222

You can check what prices houses have actually reached in your area - not what people tell you - http://www.nethouseprices.com/

Stonk

Your house is worth what a buyer is prepared to pay for it - not a penny more, not a penny less. If you can't sell it at the current price, then by definition it is overpriced.

You need to forget (a) what you paid for it; (b) what it was worth last month; (c) whta it was worth last week; (d) what other houses have sold for recently.

dprovan

I am in N Ireland so the net link doesn't cover here, thanks anyway