PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Advice on offer price please

Options
Iloveabargain_2
Iloveabargain_2 Posts: 3 Newbie
in House buying, renting & selling
We had our house on the market for a few months and accepted an offer of 95.7% of asking price (only person that offered after 15ish viewers). We have been looking for a property for months and have only found one that we both really like. It is a bit over our budget though. We have viewed a few properties marketed at the same price which have 1-2 more bedrooms but this one is a nice quiet location away from main roads, which we like. We have offered twice, the last being 96% of asking price. It was rejected and we were told they want over a certain price at 98.7% of asking price. We just cannot stretch that far. Any advice? Is it worth going back with another offer below what they indicated?
Our buyer is threatening to pull out so we cannot wait around too long.

Comments

  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    Options
    You can make another offer and they can say no. It is likely to be a no because they have indicated what they would like to get and it will depend on how soon they want to sell.
  • Debtslayer
    Debtslayer Posts: 447 Forumite
    Options
    All you can do is make your best and final offer and reiterate to EA that this is your best and final offer and hope it gets accepted. Be prepared to walk away if it's not as you can't afford more
    Good Luck
    Current Mortgage 01.10.17 £113,513.88
    MFW Start Mortgage: £114,794.64
    Current MED: 2036:eek: Target MED: 2026 ;)
    Overpayment Target for remainder of 2017: £2,000
    Mortgage overpayment savings: £684.80
    MFW No 124 :money:
  • Mutton_Geoff
    Mutton_Geoff Posts: 3,820 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Options
    Iloveabargain wrote: »
    95.7% of asking price .. 96% of asking price .. 98.7% of asking price


    You're looking at it too black and white. What is 95.7%, 96% etc? How does it relate to your income? Generally £5,000 is neither here nor there in a house purchase but if you are working things out to the nth % place then you may not be thinking the right way about the transaction.
    Signature on holiday for two weeks
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
    First Post First Anniversary Combo Breaker
    Options
    In your shoes I would sell your house regardless....move into rented. If you've only had one offer it could be a slow sale. Then relax about buying your new place.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards