Making an offer on a house
Discussion
Hobo said:
You stated two offers:
1) asking 200k, offer 175k - 12.5% reduction
2) asking 240k, offer 210k - 12.5% reduction
£200k with £10k cashback = £190k in my book, given that I meet the 'quick sale' criteria. Regardless, the point is that there was a basis of the offers and not just working on percentages. 1) asking 200k, offer 175k - 12.5% reduction
2) asking 240k, offer 210k - 12.5% reduction
You've assumed wrongly that the offers were only on a percentage basis although yes I will concede that, coincidentally, the maths above does in fact happen to come out at 12.5%
The 240k house is in fact advertised at 267k if you want to quote advertisement prices:
http://www.rightmove.co.uk/property-for-sale/new-h...
But look hard at the picture (red star on the wall of the front of the house) and you will in fact see that it is the 'star buy' "available for a limited time at only £239k", according to the site literature I have in front of me.
FWIW one of the offers was accepted, see my post in the midlands forum.
ETA: weblink
ETA: I think we should agree to disagree on this one and go and talk about cars or something
Edited by texasjohn on Tuesday 10th February 21:00
Edited by texasjohn on Tuesday 10th February 21:05
A 'star buy' indeed.
These such 'exclusive' developments don't come around very often, do snap thier hand off while you have the chance.
But wait ................
22 homes on site, 5 sold ........ hmm. Not many people 'living the dream' as yet.
A couple of queries I'd have:
1) The master bathroom. How does the shower work ? It doesn't have anywhere to fix & doesn't have a shower screen. At first I assumed there must be a seperate cubicle, but no.
2) Ground floor layout all wrong. WC accessed through utility ??? Kitchen overlooking driveway at side ???
These such 'exclusive' developments don't come around very often, do snap thier hand off while you have the chance.
But wait ................
22 homes on site, 5 sold ........ hmm. Not many people 'living the dream' as yet.
A couple of queries I'd have:
1) The master bathroom. How does the shower work ? It doesn't have anywhere to fix & doesn't have a shower screen. At first I assumed there must be a seperate cubicle, but no.
2) Ground floor layout all wrong. WC accessed through utility ??? Kitchen overlooking driveway at side ???
Measham house works better as a family home IMO albeit shockingly little kitchen cupboard space for a 4 bedroomed home. Not keen on the mock tudor look either but each to thier own.
How old is the house. I assume its pretty old but recently renovated as the energy rates ain't good (for anything modern-ish).
How old is the house. I assume its pretty old but recently renovated as the energy rates ain't good (for anything modern-ish).
I know nothing about economy, but if you are in a position to buy and can secure mortgage- get mortgage protection in place and know you can afford it, I would say now is the time to buy.
I am sure someone else more informed would be along soon enough
I am sure someone else more informed would be along soon enough
Edited by missdiane on Tuesday 10th February 22:30
Hobo said:
A 'star buy' indeed.
These such 'exclusive' developments don't come around very often, do snap thier hand off while you have the chance.
But wait ................
22 homes on site, 5 sold ........ hmm. Not many people 'living the dream' as yet.
A couple of queries I'd have:
1) The master bathroom. How does the shower work ? It doesn't have anywhere to fix & doesn't have a shower screen. At first I assumed there must be a seperate cubicle, but no.
I think there is an en-suite, would be happy with bathroom shower as is for rinsing hair/bathing pets. These such 'exclusive' developments don't come around very often, do snap thier hand off while you have the chance.
But wait ................
22 homes on site, 5 sold ........ hmm. Not many people 'living the dream' as yet.
A couple of queries I'd have:
1) The master bathroom. How does the shower work ? It doesn't have anywhere to fix & doesn't have a shower screen. At first I assumed there must be a seperate cubicle, but no.
Hobo said:
2) Ground floor layout all wrong. WC accessed through utility ??? Kitchen overlooking driveway at side ???
It's not the best I agree, I mean look at the colour scheme! The fit and finish wasn't brilliant either, kitchen quality equivalent to MFI units I had in my flat back in Preston. Hence the offer we made reflecting the fact we'd take it but only if it was what we perceive as a reasonable price for it (plus mortgage co will only wipe 10k's off the starting point even if we did want to offer the 239/267), others on the development have sold for 239/240 so it is not a star buy at all but a marketing/pricing 'strategy' probably based on the current +1% tabloid-reported blip in the ever downward trend in house prices!
We're not a huge fan of new builds but want to move and don't want to get into chains, hence we're looking at the new or no chain stuff.
When I said there was a much nicer alternative in that particular village (layout and build wise) to the new build I was on about this:
http://www.rightmove.co.uk/property-for-sale/prope...
It was built by the vendor in late 2006. Be interested to hear your thoughts on it?
You may or may not agree of course!
Hobo said:
Measham house works better as a family home IMO albeit shockingly little kitchen cupboard space for a 4 bedroomed home. Not keen on the mock tudor look either but each to thier own.
How old is the house. I assume its pretty old but recently renovated as the energy rates ain't good (for anything modern-ish).
We dont have kids at present but having lived in USA just want a spacious house; we had 2200 sqft in in Texas and only complaint there was electric bills for A/C. USD:£ was 2:1 then as well! How old is the house. I assume its pretty old but recently renovated as the energy rates ain't good (for anything modern-ish).
The kitchen would be the first thing we sorted out, adding extra units on the right hand side of the room and/or from where the shot was taken.
Not a fan of the mock Tudor at all myself but we are endeavouring to buy something in the next months. It certainly isnt our dream home but with savings and investments earning considerably less now than 6 months ago, we can reduce our 'roof over head' outgoings by a huge amount (our rental payment each month is no longer pretty much 'paid for', as it were).
The house is mid/late 1990s I believe, maybe 1997-8? There is a reason why it has been refurbed recently (smoke damage) while we understood half the story and were ok with it, the EA didnt disclose full facts about it as I have found out this evening with a bit of online searching. I will email you privately on this matter in a moment but I will be having quite an 'animated conversation' in the morning I can tell you, and the deal may be off entirely as a result.
To close, thanks for the comments and in all honesty if you have time to look in the area and email me some suggestions I am open to this, you'll have my address shortly.
I have no ties to the area but need to be within 25 (as the crow flies) miles radius of BHX airport.
A quick Rightmove search throws up 1000's (literally) of properties for sale within 25 miles of the airport.
I don't know the area, your requirements, etc, etc, so its pointless trying to find somewhere.
The link for the bungalow looks better but there's no floorplans. Certain rooms could do with a but of modernisation but so what. Bungalows normally sit in larger plots, plus there's always the option (subject to planning, etc) to put a 1st floor on creating much more space.
I don't know the area, your requirements, etc, etc, so its pointless trying to find somewhere.
The link for the bungalow looks better but there's no floorplans. Certain rooms could do with a but of modernisation but so what. Bungalows normally sit in larger plots, plus there's always the option (subject to planning, etc) to put a 1st floor on creating much more space.
phillvr6 said:
Can I join in?
We're considering putting an offer in on this:
http://www.rightmove.co.uk/property-for-sale/prope...
It was bought by a someone when their relationship broke up at the end of October last year for £225k. Now fortunatley or otherwise, the relationship is back on so they no longer need the house.
Initially they put it up for £235k and have just dropped it to £220k.
I'm thinking an initial bid of £180k...what ya reckon?
Our house is currently under offer from a cash buyer and I have a mortgage uplift approved.
Thanks,
Phill
Make it £175K 'because you don't want to pay stamp duty'We're considering putting an offer in on this:
http://www.rightmove.co.uk/property-for-sale/prope...
It was bought by a someone when their relationship broke up at the end of October last year for £225k. Now fortunatley or otherwise, the relationship is back on so they no longer need the house.
Initially they put it up for £235k and have just dropped it to £220k.
I'm thinking an initial bid of £180k...what ya reckon?
Our house is currently under offer from a cash buyer and I have a mortgage uplift approved.
Thanks,
Phill
matt21 said:
Just after some advise.
Seen a house that is around 20k out of my budget. Is up for 188k but a similar one around the corner for 180k (I prefer this one though).
My position is that I am in no rush. The house is just what I want but as a new(ish) build there will be others that come along.
Most importantly there is ample parking in and around the house.
The sellers position is that he works for Land Rover, and reading between the lines wants to move in with the mother-in-law. I suspect either his job is at risk or he has lost it all ready from the way he was talking.
He specifically said they are keen to move whenever, the agent said they are open to offers.
If this one goes there will be another so prepared to go long but dont want to just offend! What would be suitable. I reckon the house should be up at 180k so thinking offering around 160k. Is this unreasonable?
I appreciate every circumstance is different but some experience on this matter would be great
Go for it. If you are in a position to offer a quick sale then you can now be cheeky.Seen a house that is around 20k out of my budget. Is up for 188k but a similar one around the corner for 180k (I prefer this one though).
My position is that I am in no rush. The house is just what I want but as a new(ish) build there will be others that come along.
Most importantly there is ample parking in and around the house.
The sellers position is that he works for Land Rover, and reading between the lines wants to move in with the mother-in-law. I suspect either his job is at risk or he has lost it all ready from the way he was talking.
He specifically said they are keen to move whenever, the agent said they are open to offers.
If this one goes there will be another so prepared to go long but dont want to just offend! What would be suitable. I reckon the house should be up at 180k so thinking offering around 160k. Is this unreasonable?
I appreciate every circumstance is different but some experience on this matter would be great
Agents do not want to admit and have not adjusted well to a changing market. Demand is still high but its a different demand who are in a position to buy quickly but at a substantially lower price. If you can exchange quickly be very cheeky, it depends on the position of the seller.
Good luck!
muley said:
phillvr6 said:
Can I join in?
We're considering putting an offer in on this:
It was bought by a someone when their relationship broke up at the end of October last year for £225k. Now fortunatley or otherwise, the relationship is back on so they no longer need the house.
Initially they put it up for £235k and have just dropped it to £220k.
I'm thinking an initial bid of £180k...what ya reckon?
Our house is currently under offer from a cash buyer and I have a mortgage uplift approved.
Thanks,
Phill
Make it £175K 'because you don't want to pay stamp duty'We're considering putting an offer in on this:
It was bought by a someone when their relationship broke up at the end of October last year for £225k. Now fortunatley or otherwise, the relationship is back on so they no longer need the house.
Initially they put it up for £235k and have just dropped it to £220k.
I'm thinking an initial bid of £180k...what ya reckon?
Our house is currently under offer from a cash buyer and I have a mortgage uplift approved.
Thanks,
Phill
k it, go the whole hog and detail their failures on the internet with a link to their house... oh, he has.Edited by dern on Wednesday 11th February 09:03
dern said:
muley said:
phillvr6 said:
Can I join in?
We're considering putting an offer in on this:
It was bought by a someone when their relationship broke up at the end of October last year for £225k. Now fortunatley or otherwise, the relationship is back on so they no longer need the house.
Initially they put it up for £235k and have just dropped it to £220k.
I'm thinking an initial bid of £180k...what ya reckon?
Our house is currently under offer from a cash buyer and I have a mortgage uplift approved.
Thanks,
Phill
Make it £175K 'because you don't want to pay stamp duty'We're considering putting an offer in on this:
It was bought by a someone when their relationship broke up at the end of October last year for £225k. Now fortunatley or otherwise, the relationship is back on so they no longer need the house.
Initially they put it up for £235k and have just dropped it to £220k.
I'm thinking an initial bid of £180k...what ya reckon?
Our house is currently under offer from a cash buyer and I have a mortgage uplift approved.
Thanks,
Phill
k it, go the whole hog and detail their failures on the internet with a link to their house... oh, he has.Edited by dern on Wednesday 11th February 09:03
Phill
phillvr6 said:
Surely getting back on track is a sccess not a failiure? Also the house is vacant.
I'm not sure they'd view it in the same light given the loss made and the circumstances in which it was made. The whole thread seems vulturish enough without justifying very low offers based on suppositions on the vendors circumstances... that, to me at any rate, is very distasteful. We've been in the unpleasant situation where my brother and I have had to sell my dad's house (he died at the end of last year). Selling a house for less that it's worth when you have no choice is distinctly grim for everyone. Seeing people taking advantage of that doesn't warm the cockles.
Edited by dern on Wednesday 11th February 09:18
dern said:
phillvr6 said:
Surely getting back on track is a sccess not a failiure? Also the house is vacant.
I'm not sure they'd view it in the same light given the loss made and the circumstances in which it was made. The whole thread seems vulturish enough without justifying very low offers based on suppositions on the vendors circumstances... that, to me at any rate, is very distasteful. dern said:
phillvr6 said:
Surely getting back on track is a sccess not a failiure? Also the house is vacant.
I'm not sure they'd view it in the same light given the loss made and the circumstances in which it was made. The whole thread seems vulturish enough without justifying very low offers based on suppositions on the vendors circumstances... that, to me at any rate, is very distasteful. We've been in the unpleasant situation where my brother and I have had to sell my dad's house (he died at the end of last year). Selling a house for less that it's worth when you have no choice is distinctly grim for everyone. Seeing people taking advantage of that doesn't warm the cockles.
Edited by dern on Wednesday 11th February 09:18
M3333 said:
dern said:
phillvr6 said:
Surely getting back on track is a sccess not a failiure? Also the house is vacant.
I'm not sure they'd view it in the same light given the loss made and the circumstances in which it was made. The whole thread seems vulturish enough without justifying very low offers based on suppositions on the vendors circumstances... that, to me at any rate, is very distasteful. We've been in the unpleasant situation where my brother and I have had to sell my dad's house (he died at the end of last year). Selling a house for less that it's worth when you have no choice is distinctly grim for everyone. Seeing people taking advantage of that doesn't warm the cockles.
No disrespect taken at all, it was just to illustrate the possible view of a vendor. We have been lucky in that we got an offer the day after we put the house on the market but we were also lucky in that we were in a position where we could reject silly offers. Many people at the moment won't be and it's the taking advantage of them that I find vulturish.
M3333 said:
A lot could be said for greed in the housing market over the last 9 years?
I think many people have made quite a lot of money out of it and yet a lot of people have also lost an awful lot.matt21 said:
interest rates above 10% within 5yrs anyone? likely???? i hope not!
Well, absolutely nobody predicted even just 1 year ago that interest rates would drop by nearly 5% in a little over 6 months. 10% in 5 years would not be surprising, especially as inflation is falling and will be less than 1% in 12 months, so be prepared for that to bounce fairly sharply within the next 5 years in unison with interest rates to try and control it.Edited by Silver993tt on Wednesday 11th February 12:17
dern said:
We've been in the unpleasant situation where my brother and I have had to sell my dad's house (he died at the end of last year). Selling a house for less that it's worth when you have no choice is distinctly grim for everyone. Seeing people taking advantage of that doesn't warm the cockles.
I can understand that. We've just pulled out of a deal as we found there was a tragic accident Edited by dern on Wednesday 11th February 09:18
at the house within the last 2 years (ETA: by searching keywords via Google, of course the EA wasn't completely straight as they never are, but we found out). A few of my colleagues suggested we continue but demand a reduced price!
Way over the line in my book.
Edited by texasjohn on Thursday 12th February 04:59
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