We've fallen in love with a house that's on the market for £X. It was put on the market in March 12 (7 months ago) at £X+ £25K and the vendor has recently dropped the price. Their situation is that they are splitting up. The problem is, £X is still a long way away from what we can afford, and we think the house needs about £40K spending on it to get it up to clean, living standards (re plaster throughout, new carpets, new boiler, new bathroom, new kitchen, rewire, blah blah). We could afford about 90% of X and would find the refurb money through eating beans for 10 years. Do you think a cheeky offer of 10% asking price in this market is viable? No equivalent house in that area has sold for more than that in the last 2 years anyway. We are a chain of 1 at the mo and can move immediately! The agent says that they are looking for 98% of X. Thanks in advance for reading.
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