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House offer!

(15 Posts)
mummyfour4 Wed 05-Apr-17 17:28:57

Okay so we have found our dream home -
It says offers over 385000
Its been for sale over 12 months and has a funny restriction on it making it only available if you fit certain criteria.
Someone else was interested but they are in a chain and have a property to sell
They say they want a quick sale
Looking on RM it says it sold for the same price 9 years ago.
What would you offer??

toadierocks Wed 05-Apr-17 18:11:07

385K The price is an indication of what they would sell for/accept so start there. You also could ask the agents what would they accept and they'll give you a ball park. It's irrelevant how long they've been on for etc, it'll be the lowest they could accept/need to move in my guess.

Honeyandfizz Wed 05-Apr-17 18:13:43

Have any other similar houses sold nearby recently? Do you think its worth over 385K? 12 months is a long time on the market so I would go for less, maybe 370k and take it from there.

HappyFlappy Wed 05-Apr-17 18:41:56

I wonder what is making it so difficult to sell? Might be worth checking for arsey neighbours, rights of way, council building and road plans etc

Mooey89 Wed 05-Apr-17 18:45:12

I posted this same thread a month ago Op!
Our house was on for 'offers over' £200,000. We are chain free and offered 189950 and they snapped our hands off! Treat the 'offers over' price as an asking price - it's not selling, it's been on for 12 months.

I would offer 360 emphasising your position. Good luck!

HotelEuphoria Wed 05-Apr-17 18:52:24

Depends whether they have insufficient equity in the property to move elsewhere, if they do, then they may well hold out for the asking price forever as it will cost them money to even downsize.

Spickle Wed 05-Apr-17 19:33:49

Do you fit the criteria mummyfour4? If the house has been on the market for 12 months, maybe "the criteria" is the problem.

mummyfour4 Wed 05-Apr-17 19:40:14

Yes its the criteria that is the problem - however not for us! basically got an agriculture tie so your main income has to be from farming etc which ours is so we are okay. The people selling are divorced so the house is empty

Spickle Wed 05-Apr-17 20:07:32

I'd definitely go for it then mummy! A lovely property near us came onto the market with an agricultural tie - it was an absolute bargain compared to the going rate for other properties without the tie, but obviously not many people would meet the criteria. The downside was that there was no dropped kerb or driveway because the property was within the boundaries of another property and although the previous owners had tried to obtain permission, it was refused.

Laurah1979 Wed 05-Apr-17 22:33:43

Definitely start under the 'offers over' price. They can only say no. We have recently had an offer accepted significantly under the offers over price as we are chain free and can move quickly. Good luck!

eastwest Wed 05-Apr-17 23:08:39

It sounds great, but just to be the voice of caution, you might face the same issues if you ever need to sell it yourself...

Katmeifyoucan Wed 05-Apr-17 23:20:33

I would off no more than 360k if it has been on for 12 months with no offers. You will probably end up meeting somewhere in the middle. Good luck!

3rdbump Thu 06-Apr-17 07:07:36

We where thinking of starting at 340 and hoped to pay no more than 365? Is that too cheeky?!

Katmeifyoucan Thu 06-Apr-17 08:01:02

Not too cheeky. The house is empty and has been on for over a year. Go for it. Let us know what they say.

SnowGlobes Thu 06-Apr-17 09:21:05

340k is 88% ish. Lots of people offer 90% so not too far off if you view 'offers over' the same as guide/asking price. There's a fair few signs suggesting they'll take less such as the agricultural criteria. They may be fed up and want rid OR the fact that it's been on a year and empty maybe because they aren't in a rush to sell as must be living somewhere else and managing. It is interesting that it sold for a similar price 9 years ago so maybe they just want back what they paid for it. Given it's going to be tricky to sell when it's your turn you need to get a decent deal and I think offering £340k with a top limit of £365 as you've said, is a good idea if you are totally ready to proceed. If you've got something to sell and no mortgage in place then you're not in such a great position. Albeit they may only care that you meet the criteria. Pls let us know how it goes.

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