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Negotiating offer on a part exchanged property

(6 Posts)
MissCardew Wed 12-Mar-14 15:27:49

I'm hoping for a little advice/reassurance on negotiating an offer with a building company who are selling a property the previous vendors have part exchanged with them (I hope that makes sense).

The property has been on the market for a year and was bought by the building company in January. The current asking price is 220k. The house next door sold in Nov 13 for 214k and has a better layout and better garden.

Based on this information we submitted a low offer of 180k which was rejected. We increased this offer to 190k, the building company rejected this and the EA said they were looking for 210k with a view to meeting somewhere in the middle.

Our situation is very good in that we've sold our place stc to first time buyers and we are keen to progress quickly.

I have left the offer on the table with the EAs and said we would not be offering anything further but they could come back to us if they change their minds.

Has anybody had experience with this kind of property purchase before? Have we done the right thing?

MissCardew Wed 12-Mar-14 19:05:40

Anyone?? Please! smile

Pinkje Wed 12-Mar-14 19:16:11


Pinkje Wed 12-Mar-14 19:20:06

Sorry don't know what happened...

Do you know the name of the builders so you could find their accounting year end. If they will be selling this house at a notional loss then they might want to delay the sale to a later period. So I'd say leave the offer on the table.

Do you know if anyone else is interested?

MissCardew Wed 12-Mar-14 19:29:50

Thank you for replying. Not sure who the builders are but good idea to find out. There have been no other offers made.

dietstartsmonday Thu 13-Mar-14 10:04:41

was the offer of 190K what you left on the table?

Hard to advise without know property / area but if next door went for 214K and is better I would think 200K is reasonable. However prices have risen in that time as well.

Maybe if you can afford put 200K offer as best and final?

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