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Landlord is selling - offered 1st refusal

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  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Crashy_Time wrote: »
    Do you think that will continue? You sound a bit desperate for it to continue TBH :)

    Well its a popular town with no room to build anywhere... I wish your fantasy world was true, I could buy so many more properties... Unfortunately I think your spending too much time on housepricecrash....

    I dont really care, I have very little debt and the house prices have increased so much they would have to crash massively just for me to break even... With the amount of rent you have paid and house prices increases in the decades you have been calling a crash you must need what a 200% decrease in house prices to break even?
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    https://www.capitalandconflict.com/economics/problem-with-property-price-slowdown/
  • Lvl_chg
    Lvl_chg Posts: 17 Forumite
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    ** UPDATE**

    We've consulted with our local broker and a mortgage in principle with the required loan amount is available (and a bit more) for the property.

    Seeing as the property isn't on the market yet we went in with a low offer at 182k.

    (Originally landlord said she would put it on the open market at 199,950. We've had a few valuations and they average out at approx 188k)

    As expected this first offer was declined. No counter offer submitted though. I've come back and offered 185k so we'll see what tomorrow brings!
  • Smodlet
    Smodlet Posts: 6,976 Forumite
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    Thank you for the update, Lvl_chg, best of luck. :)
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    buggy_boy wrote: »
    Well its a popular town with no room to build anywhere... I wish your fantasy world was true, I could buy so many more properties... Unfortunately I think your spending too much time on housepricecrash....

    I dont really care, I have very little debt and the house prices have increased so much they would have to crash massively just for me to break even... With the amount of rent you have paid and house prices increases in the decades you have been calling a crash you must need what a 200% decrease in house prices to break even?


    Do you have a link to any of these houses that sell in days?
  • Lvl_chg
    Lvl_chg Posts: 17 Forumite
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    **UPDATE**

    2nd offer at 185k has also been rejected. My plan (unless anyone else can suggest a better option) is to now sit back and let her think about it. Her options are to now either come back at me with an offer herself or serve me notice. In the mean time I will be looking elsewhere to either rent or buy.
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Crashy_Time wrote: »
    Do you have a link to any of these houses that sell in days?

    Added today.... SSTC

    http://www.rightmove.co.uk/property-for-sale/property-71982071.html

    Added yesterday... Now SSTC

    http://www.rightmove.co.uk/property-for-sale/property-52398021.html

    And that was just a quick look on rightmove (Not my area)... My experience in my area, certain houses in the right areas go online, if you don't phone within a day or two to arrange a viewing (Usually block viewing at the weekend) then you will get told sorry we are not allowing any more viewings at the moment as we think we have enough to get a sale (arguably estate agents being lazy). When the offer is accepted it usually then takes the estate agents a few weeks till they change the property online to SSTC. Obviously not all houses are doing this but you think none are...
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Lvl_chg wrote: »
    **UPDATE**

    2nd offer at 185k has also been rejected. My plan (unless anyone else can suggest a better option) is to now sit back and let her think about it. Her options are to now either come back at me with an offer herself or serve me notice. In the mean time I will be looking elsewhere to either rent or buy.


    Ask the estate agent if you are close, say that you are basically at your limit and dont want to waste their time if you are still off and will start looking elsewhere otherwise... Puts the pressure back on the seller that your about to walk... They will either come back and say no the seller is really looking for the full asking price at the moment (In which case I think you by the sounds of it will walk away) or they may come back with a counter offer (This is what you want) and you can come in with a slightly higher offer and say thats the maximum you can offer... Its good if there has been some time as you can say you have found somewhere else that you like so want to know quite fast so you can make an offer on that if its rejected.... Something else you can do is ask for viewings of similar (But preferably same or lesser value not higher as that tells EA you can afford more) properties from the same estate agents so they know you are now looking elsewhere...

    Its all a game, I hope it all works out for you... Dont get too down it can be frustrating.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    buggy_boy wrote: »
    Added today.... SSTC

    http://www.rightmove.co.uk/property-for-sale/property-71982071.html

    Added yesterday... Now SSTC

    http://www.rightmove.co.uk/property-for-sale/property-52398021.html

    And that was just a quick look on rightmove (Not my area)... My experience in my area, certain houses in the right areas go online, if you don't phone within a day or two to arrange a viewing (Usually block viewing at the weekend) then you will get told sorry we are not allowing any more viewings at the moment as we think we have enough to get a sale (arguably estate agents being lazy). When the offer is accepted it usually then takes the estate agents a few weeks till they change the property online to SSTC. Obviously not all houses are doing this but you think none are...


    http://www.independent.co.uk/news/business/news/savills-latest-results-profit-warning-brexit-housing-market-property-london-foxtons-a8256996.html
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    buggy_boy wrote: »
    Added today.... SSTC

    http://www.rightmove.co.uk/property-for-sale/property-71982071.html

    Added yesterday... Now SSTC

    http://www.rightmove.co.uk/property-for-sale/property-52398021.html

    And that was just a quick look on rightmove (Not my area)... My experience in my area, certain houses in the right areas go online, if you don't phone within a day or two to arrange a viewing (Usually block viewing at the weekend) then you will get told sorry we are not allowing any more viewings at the moment as we think we have enough to get a sale (arguably estate agents being lazy). When the offer is accepted it usually then takes the estate agents a few weeks till they change the property online to SSTC. Obviously not all houses are doing this but you think none are...


    No, I think far less than used to are.
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