Discussion
So Ms TAD and I are viewing two houses tomorrow. We are quite interested in one, the other is a potential fall back to live in for a while if we cannot get the preferred house (which is our second preferred one anyway, having been beaten to a house we first offered on and really wanted). Reason for the fall back house is that our landlord are set to issue a section 21 to us this week as they want to sell the house (we have been offered it, but we do not want it), so rather than go into rented again we are going to buy, even if not 100% what we want.
Anyway, to cut the waffle, the house we prefer is a 4 bed semi (no shared drive) without garage (it has been converted into a kitchen, so has a large lounge now as a result with separate dining room). There is room to build an outbuilding in the back garden (100 foot garden) and room to extend the property if we so wish to do so.
We feel the house is a little on the high side price wise, despite it been refurbished over the last 5 years, with the kitchen finished recently. As a result, we do not want to pay the asking price if we can avoid it. The house has been on the market for 3 months and we are surprised that it hasnt sold tbh. Based on that, and having not bought a house for over 13 years, is there a point when an offer becomes an insult etc? The house is £350k, obviously we don't expect to get it for 10% less. There hasnt been any sales on the street we are looking at for 3 years, and that was a terraced house, so it is hard to gauge a value.
Thanks.
Anyway, to cut the waffle, the house we prefer is a 4 bed semi (no shared drive) without garage (it has been converted into a kitchen, so has a large lounge now as a result with separate dining room). There is room to build an outbuilding in the back garden (100 foot garden) and room to extend the property if we so wish to do so.
We feel the house is a little on the high side price wise, despite it been refurbished over the last 5 years, with the kitchen finished recently. As a result, we do not want to pay the asking price if we can avoid it. The house has been on the market for 3 months and we are surprised that it hasnt sold tbh. Based on that, and having not bought a house for over 13 years, is there a point when an offer becomes an insult etc? The house is £350k, obviously we don't expect to get it for 10% less. There hasnt been any sales on the street we are looking at for 3 years, and that was a terraced house, so it is hard to gauge a value.
Thanks.
I do tend to try and be pally pally with the agent. I have a feeling that the vendor may want asking, but the house isnt in the best area, though it's on the outskirts so it's OK, not our first choice but we cant afford to live in those area's)
Ideally I'd like to be at no more than 335k, plus associated fees.
Ideally I'd like to be at no more than 335k, plus associated fees.
kurt535 said:
Forgive me but you're not sounding in love with it,. No garage sounds a compromise as does the area. Are you sure you are happy not only bidding but living there?
Until I see the house then I won't know for sure. We always said that we would have to compromise on something, and it's likely the garage. The area isnt that bad in all honesty and having checked police.uk the reported crime rate is low. The area I live now in a rented house is better but the houses are smaller. Houses in Decent areas do not come up for sale often and when they do they are usually out side of our budget. yajeed said:
TheAngryDog said:
So the game has started
325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.
330k offered, they are going to think about it over night.
The question is whether you'll accept their 335k counter in the morning. 325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.
330k offered, they are going to think about it over night.
p1stonhead said:
TheAngryDog said:
yajeed said:
TheAngryDog said:
So the game has started
325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.
330k offered, they are going to think about it over night.
The question is whether you'll accept their 335k counter in the morning. 325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.
330k offered, they are going to think about it over night.
k me that was stupid I would happily have paid £20k to get this place'.I have bought a house before but that was in 2003 and my offer was accepted on the spot by the vendor.
Things seem a little different now.
I will be ensuring that the house comes off the market. They have viewings lined up on Thursday and Saturday which I want cancelled. If they do not do that then I will withdraw my offer. I have made it very clear that we are ftb and are able to move in as soon as the paperwork is done. The vendors are happy to be moved out by a certain date that we have requested due to our tenancy ending.
I have to say, the agent has been good to us from what I am aware of. Hasnt bullstted me and was very honest and open when I asked questions and even answered questions I didn't ask. Refreshing.
Things seem a little different now.
I will be ensuring that the house comes off the market. They have viewings lined up on Thursday and Saturday which I want cancelled. If they do not do that then I will withdraw my offer. I have made it very clear that we are ftb and are able to move in as soon as the paperwork is done. The vendors are happy to be moved out by a certain date that we have requested due to our tenancy ending.
I have to say, the agent has been good to us from what I am aware of. Hasnt bulls
tted me and was very honest and open when I asked questions and even answered questions I didn't ask. Refreshing. QuickQuack said:
Hmmm, for some bizarre reason my phone didn't show me the last few posts before mine so I hadn't seen the offers and the counter offer. Thinking about it overnight sounds to me like they'll take it. Here's to hoping 
Cheers! Could do with some good news, 2017 has been full of nothing but 95% bad news. paulwirral said:
TheAngryDog said:
Simple answer is yes. Ms Tad and i have discussed it and that is our ceiling. Half tempted to counter with £332500, but I'm not sure I want to lose it over £2.5k
May be worth going in at your counter with a sob story saying that's about all you can afford , you love the house but your at your limits but you can proceed now , if they are thinking about it they'll usually think a bit longer , your saying you'll pay £335 worst case , they are probably saying they'll take £332500 worst case for a quick sale , and the agent will be able to smell their commission by now , it's probably already chalked up on the monthly target board by now , usually found in the managers office if you want to check ! 
so a spanner in the works.
Mortgage lender has down valued by £20k, to £315k.
Meaning we would need to stump up £20k to buy the house, which we are not prepared to do.
The vendors have come down to £325k but we are still not prepared to pay £10k into a potential negative equity situation.
The valuers evidence is that there is no comparable house sale data in the area, as houses, especially ones like this, do not go up for sale often. The EA has pretty much washed their hands of it and are leaving the vendors to negotiate direct with us it seems after we dropped our offer to the £315k. As the vendors say they need £325k to be able to buy their next house, it is looking like we may have to walk away from this one.
Mortgage lender has down valued by £20k, to £315k.
Meaning we would need to stump up £20k to buy the house, which we are not prepared to do.
The vendors have come down to £325k but we are still not prepared to pay £10k into a potential negative equity situation.
The valuers evidence is that there is no comparable house sale data in the area, as houses, especially ones like this, do not go up for sale often. The EA has pretty much washed their hands of it and are leaving the vendors to negotiate direct with us it seems after we dropped our offer to the £315k. As the vendors say they need £325k to be able to buy their next house, it is looking like we may have to walk away from this one.
They have put an offer in on another house which has been accepted. I'm not 100% convinced that our revised offer of £315k isn't enough for them to buy the other house. We have actually raised our offer to £320k, funding the £5k ourselves. They still want £325k.
I think our offer is very fair based on the lack of evidence for houses in the area, especially ones that are a little unique like this one.
I think our offer is very fair based on the lack of evidence for houses in the area, especially ones that are a little unique like this one.
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