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Have received an offer on our house - aaaaarrrrrgggggghhhhhhh

(10 Posts)
fruitstick Fri 10-Oct-08 08:48:49

We have an offer on our house which is roughly what we paid for it 3 years ago. Is the first proper offer we have received in 4 months.

The plan is to accept it, rent near my family (100 miles away), move DS nursery, give birth, look for another house to buy this time next year.

Would love to hold out for more money but don't think we are going to get it and baby is due in 4 months. We really can't afford to pay our current mortgage for very long if I'm on maternity leave again.

Is this a terrible terrible idea? Please can sometime tell me that it's the only sensible decision in this current market.

GrabShellDude Fri 10-Oct-08 08:54:41

Doesn't sound like you have much choice. Achieving a 2005/06 price is probably as good as you're going to get at the moment tbh.

If they are in a good position to proceed then I'd go for it.

I'd re-post this in "Property" if I were you. smile

MrsCurly Fri 10-Oct-08 08:55:24

Of course this is not a terrible idea. You have lost nothing. The market has a lot more falling to do.

Good luck with the move and pregnancy.

fruitstick Fri 10-Oct-08 08:57:04

oops - couldn't find a property section. I'm not very good at this!

bran Fri 10-Oct-08 08:57:15

Is there any chance they will go up a bit?

TBH an offer at the same value it was 3 years ago isn't that bad in the current climate. I think the value will only go down for at least the next year, so if you need to move it might be best to accept it.

Make sure that you keep them to a tight deadline if you want to go before the birth, but don't give them the idea that you're desperate otherwise they might drop the offer again just before exchange. Say little things like "well if we don't manage to get it sorted before the birth we might just take it off the market and try again next year" to give the impression that you have the control.

princesspeahead Fri 10-Oct-08 08:57:54

brilliant idea. sell, and buy a better house for less money next year.

you'd be nuts not to take it. good luck!

FAQ Fri 10-Oct-08 08:59:03

agree with the others - accept the offer and go smile

This house has just gone on the market and we're hoping to get an offer for the same price we paid for it 4yrs ago. IT's the only realistic thing to do, unlike the house down the road from me which (although in much better decorative order) is on for some £15k more that we paid for this place 4yrs ago, and is a 3 bedroom mid-terrace with all "improvements" already done (ie they've made it 3 bedroomed by converting the loft) - ours is the same layout house as their except we have 3 bedrooms upstairs already, and the loft hasn't been converted. Personally I think they're bonkers and can't see anyone paying anywhere near that price in the current market.

(sorry for waffle and hijack blush)

FAQ Fri 10-Oct-08 08:59:57

oh - and the estate agent told us that realistically we were looking at 2005 prices (well we bought this house end of 2004).

QuintessenceOfFrankenShadow Fri 10-Oct-08 09:01:25

You couldnt rent it out while you wait for the market to recover, seing as you are going to buy a house in a year, when prices may again be increasing? The tenants will pay rent, hopefully cover your mortgage, and you might be able to sell your house in a year and hope the market is better.

selby Fri 10-Oct-08 14:17:31

Take it! Grab the money and run! You're lucky to find a buyer and not make a loss. Prices are dropping - it's only going to get worse.

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