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offer on house but low wwyd?

(11 Posts)
housesalehelp Sun 14-Oct-12 20:45:07

So namechanged for this -we relocated over a year ago from the north of england - had a tenent in - they moved out in the summer - had our house on the market for a couple of months - its been very quiet but had two recent viewings- both are interested and one had made an offer - however its very low - quite a bit less than we paid for the house nearly 3 years ago- we are trying to get the other party to make an offer. my DH wants to hang on and try and get closer to what an almost indentical house on our street when for in febuary - just scared we might loose any offers and of course having an empty house and pay out rent down here is pretty - may just neeed a bit of hand holding to hold my nerve ,,,

Fosterangel Sun 14-Oct-12 23:05:32

You have an offer!

That is a starting point for negotiations. A skilled Estate Agent will know your position and will work hard to get you the best and fairest price. Speak to your agent and be honest about the price you need to get for your home. The agent will know if your potential buyers can go a bit higher and how much they want your home. If you are selling it yourself then you just need to take a deep breath and ask for what you feel is an honest price for your home.
Can you offer extras to tempt the new potential buyers higher? A quick exchange? Carpets/curtains/furnishings included? You could save your buyers a lot of money kitting out the house at no real additional cost to yourself.

Your home must be attractive to get an offer and more than one viewing in a couple of months in a difficult market so hold that thought!

housesalehelp Mon 15-Oct-12 09:42:22

thanks - its tricky - they have already gone up from intial offer -but said to the estate agent can't go anymore - and I know they are keen to move - I think we have to go for bit more and/or hope the other party makes an offer...

Fosterangel Mon 15-Oct-12 13:47:25

Good luck! They are probably right as money is tight and not many buyers have a good deposit or a lot of equity to put into a new home.
Hope it all comes together - stressful time for you.
xx

nancerama Mon 15-Oct-12 13:54:36

This is a quiet time of year for viewings/offers. Many people are reluctant to move over Christmas. Spring/Easter is when a lot of stuff hits the market and when buyers get interested.

I guess you need to decide whether you're happy top potentially hang onto the house for 4-6 months, or if you'd rather have the cash now.

We ended up accepting a stupidly low offer on our house because we had found somewhere we loved. Our agent managed to negotiate that drop off the chain, so only the person at the top really lost money, and percentage wise, they lost less than we would have on our cheaper house.

PostBellumBugsy Mon 15-Oct-12 14:01:38

I turned down a low offer on my house about two months ago & I haven't received another offer. I don't think my house is wrongly priced, but I think the market is really, really slow & cautious.
I guess it is one of those "bird in the hand" situations, which only you can decide.

housesalehelp Mon 15-Oct-12 14:05:58

other party is apparently going to make an offer later this week -of course may or may not happen - person1 is viewing our house again today and another - which is on at the same price I think but smaller - so we will leave things until we see what happens with person2 - it is stressful - but nancerama I agree this could be our best chance until spring. Our house is empty so in theory they could get in for xmas..

Fosterangel Mon 15-Oct-12 15:02:26

Nancerama - good advice.

We did the same many years ago and sold below the market price in a sinking market. We got the house we wanted and somehow absorbed the loss (heaven knows how as we always seemed to be broke!). It worked for us but you have to make your own decisions as this market is static and not sinking and we are a generation on!

If you are "cashing in" then it is different again as you need to clear any mortgage to move on with your relocation as buying again in the south is pricey I believe.

Take a leap of faith and whatever you decide stick with it. I think that is what Forest Gump meant with the box of chocolates thingy (only I would probably stuff them all in my mouth at once and feel queasy for a week!). I can't believe I relate everything to food! Need to see a psychiatrist!

housesalehelp Wed 17-Oct-12 20:18:27

my DH had a chat with the estate agent and was convienced this was the best we were going to get - and they upped the offer a bit more - so with any luck we have sold!!

Fosterangel Wed 17-Oct-12 21:11:48

Yea! A quick and relatively stress free sale at a quiet time of year - always good news!

MissPerception Thu 18-Oct-12 10:36:33

That's good and much better than a house lying empty all through the winter with all the issues that that can bring.

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