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Offered £20,000 below asking price

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2

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  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
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    You have found out that selling a property with an old kitchen, old bathroom and old boiler is more or less the same as selling a house with a new kitchen, bathroom and boiler.

    They may of accepted an offer of say 10-13K under asking but if £250K is all you have got then look for a cheaper house.
  • johnathan45
    johnathan45 Posts: 79 Forumite
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    walwyn1978 wrote: »
    OP is surely exempt from stamp duty land tax as a FTB?

    I do agree that a house priced at 270k is quite likely to sell at 249,999 to come in under the 250k stamp duty banding though

    You seem to have forgotten that since late 2014, the incremental SDLT is paid only on the excess over 250k and not on the whole of 270k.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    walwyn1978 wrote: »
    OP is surely exempt from stamp duty land tax as a FTB?

    Makes no difference to the vendor.
  • SmashedAvacado
    SmashedAvacado Posts: 1,262 Forumite
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    go and have another look at it
    offer 240 this time and work your way up from there
  • ReadingTim
    ReadingTim Posts: 3,970 Forumite
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    SmashedAvacado wrote: »
    go and have another look at it
    offer 240 this time and work your way up from there

    So, you've got a seller who's in no hurry to sell, and who's already told the OP to b*gger off at £250k. Talk us through why this isn't a complete waste of everyone's time, especially the OP's?
  • SmashedAvacado
    SmashedAvacado Posts: 1,262 Forumite
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    ReadingTim wrote: »
    So, you've got a seller who's in no hurry to sell, and who's already told the OP to b*gger off at £250k. Talk us through why this isn't a complete waste of everyone's time, especially the OP's?

    Because Tom, that was four months ago.

    Going to see a property after four months makes sense as you may not remember it as it was
    Even if you end up going about 250, its important to start at a price likely to be rejected - as otherwise neither buyer or seller will be happy when they finally get a deal.
  • walwyn1978
    walwyn1978 Posts: 837 Forumite
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    johnathan45 wrote: »
    You seem to have forgotten that since late 2014, the incremental SDLT is paid only on the excess over 250k and not on the whole of 270k.

    I had, and you are correct.
  • Mickygg
    Mickygg Posts: 1,737 Forumite
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    I’m another for call the EA and put offer on the table. Most EAs should be good at remembering you and would call you back if they were willing to go to £250k, but there are some that are rubbish and wouldn’t have even thought to call you back as an option to sell.

    Call the EA what have you got to lose?
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Amanda2468 wrote: »
    Thank you everyone for your advice. We are buying with the open market help to buy scheme and it is capped at £250k for the maximum we can offer as I would be willing to offer more but restricted by this
    Let the EA know this then when you go back and say "well that's my high water mark so I'll have to withdraw if they can't accept it"maybe it would help the sellers to accept they will ahve other buyers in similar position with similar limits and forget their ridiculous (IMO) refusal of an AP offer.
  • kinger101
    kinger101 Posts: 6,282 Forumite
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    I agree with calling the EA and restating your original offer. Your original offer seems fair given the amount of time it has been on the market.
    "Real knowledge is to know the extent of one's ignorance" - Confucius
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