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Should they accept?
brock-cruse
Posts: 196 Forumite
Hi all
Quick details...
Parents got immaculate 2 bed bungalow on market since Nov 07.
Had lots of interest but no offers due to prospective buyers needing to sell also.
Dropped 20k to be below 250k stamp duty.
Accepted offer of 250k within a couple of weeks.
Chain broke down after 3 weeks as FTB at bottom had mortgage declined after all.
Dad has original buyer still interested, a man thast has been interested since Nov but cant sell his and now another couple just put in an offer. Sarted at 236k Dad said no, then 238k Dad said no now final offer is 240k which he is thinking about. Would be ok if they had found somewhere to move to as they could try to do a deal but the bungalow they were originally going to buy went to cash buyer last week...doh! They are only looking at bungalows (not much on the market up to 250k at the mo) so are restricted. The other thing is where they are looking (villages of Notts) people seem not to be reducing at all!! He is frightened of accepting offer and then not being able to afford a suitable property.
What do you think? What advice can I give him?
Thanks
Quick details...
Parents got immaculate 2 bed bungalow on market since Nov 07.
Had lots of interest but no offers due to prospective buyers needing to sell also.
Dropped 20k to be below 250k stamp duty.
Accepted offer of 250k within a couple of weeks.
Chain broke down after 3 weeks as FTB at bottom had mortgage declined after all.
Dad has original buyer still interested, a man thast has been interested since Nov but cant sell his and now another couple just put in an offer. Sarted at 236k Dad said no, then 238k Dad said no now final offer is 240k which he is thinking about. Would be ok if they had found somewhere to move to as they could try to do a deal but the bungalow they were originally going to buy went to cash buyer last week...doh! They are only looking at bungalows (not much on the market up to 250k at the mo) so are restricted. The other thing is where they are looking (villages of Notts) people seem not to be reducing at all!! He is frightened of accepting offer and then not being able to afford a suitable property.
What do you think? What advice can I give him?
Thanks
0
Comments
-
How do you know they're not reducing? Have they put in any offers?0
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How does he know they're not reducing? Get and use property bee and instantly see every relevant reduction as it happens.
http://www.property-bee.com/
Use Firefox browser, download the add on, install the add on (that's about 2 clicks/it's automatic) and simply surf the Rightmove site and it remembers and shows every change in price on property you are looking at.0 -
As for the £240k - take it.
Prices will be falling for a while yet (2-3-4 years?). He won't miss any boat.0 -
surely they should be able to research what type of property they are wanting to buy next and note the prices they are currently going for and use that as a guide.
also if the advice comes from someone else then its not really your advice is it xx0
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