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Is it worth it...

10 replies

ireneadler101 · 14/01/2016 12:53

...we are looking to move out of London and a beautiful house has come on the market in one of our preferred areas. It's being marketed at an "offers over" figure which, if we offered slightly over (and I'm talking £50k) we could just about afford.

It came on on in November and is still available, despite 4 offers having been made (all "considerably" over the asking price from cash buyers, renters etc). All of those offers have been rejected and the agent has admitted that he's not really sure what the vendor's strategy is (it's a probate sale).

My question is - would you go and look at it given the above, or would it just be torture? I'm sure we'll love it, and I'm pretty sure our offer wouldn't be accepted...

...I think I know the answer but it's really hard to walk away without throwing our hat in the ring! I'm just worried that all of the other properties in our price budget will, after seeing that one, pale in comparison!!

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Sunnyshores · 14/01/2016 13:34

I think you could say to the EA that you dont want to waste time and effort - this is your position, this would be your max offer, is it acceptable in principal to the vendor. If so, view. If not, walk away and convince yourself it was probably next to a sewerage works

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ireneadler101 · 14/01/2016 14:01

Potentially an issue though telling the EA what your max offer would be? Although in this case, I think it would simply be the only offer we would make, so perhaps not such an issue.

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ftm123 · 14/01/2016 14:05

If you think this could be your perfect house, you will always wonder "what if" if you don't try. Sunnyshores' suggestion sounds like a good option. It also will get you noticed by the EA in case anything similar comes on the market. Just be wary about going to the top of your budget, as there is bound to be lots of unexpected things to fix.

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PigletJohn · 14/01/2016 14:47

sometimes, in a probate sale, somebody in the family wants to buy it, and may be getting offers in to see what is a "fair" price.

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ireneadler101 · 14/01/2016 15:04

That's interesting - I hadn't thought of that. I had thought that perhaps there are a number of beneficiaries and so they are holding out for the highest possible offer so that their share is bigger.

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ireneadler101 · 14/01/2016 15:08

Another related question - would you just assume that the EA is being honest about the other offers? I am always a bit wary and often wonder whether I'm being told the truth...

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PigletJohn · 14/01/2016 15:14

hahahahaha!

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ireneadler101 · 14/01/2016 15:31

I've ignored what they've said before ("sounds like a load of rubbish to me") and then lost out... Anyone here been told there's a higher offer than yours on the table/been rejected, but then ultimately ended up buying the property?

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Sunnyshores · 15/01/2016 12:33

EA honest they're sales people and there will always be a degree of gamesmanship on their part.

But if this is your dream house and theres only one low offer you can make, then it matters not really what others are doing, or what the vendors motives are - make your offer, you can still walk away or lower it. Nothing will be gained by doing nothing!

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ireneadler101 · 21/01/2016 09:24

Thanks all - we viewed it, loved it, and have put in the best offer we can. EA is meeting their client tomorrow and should have an answer for us Friday/Saturday (there's more than one offer on the table).