Curious - what would you offer?(4 Posts)
We've been house hunting for a while, one purchase fell through (worrying survey) and there really isn't much on the market around here in our price range. We're renting and if all else fails we can stay put, but we ideally would like to find our own 'home'.
Finally went to look at a house very close to us last week which we'd avoided for a while as the asking price is exactly the very top of our budget and we didn't want to stretch etc. Anyhoo, found out this week I'm getting a substantial payrise (hurrah!) which changes the numbers for us and means we could (in theory at least) afford it without having to live on beans on toast etc.
Hubby is completely in love with the house, I like it well enough - not in love with it but it's definitely a nice house and I could imagine living there perfectly happily. Location is absolutely perfect. I'd like a bigger garden but what's there is perfectly acceptable (and I know I'm just being greedy .
We told the EA we like it but weren't interested in pursuing it as the vendor hasn't found anywhere to go yet (despite her house being on the market for the best part of two years, and two previous buyers getting fed up of waiting and wandering off). We told her to give us a call when the vendor finds something and we might be interested if we haven't found anything by that point. Well, EA called this morning - vendor thinks she has found a house (*it's a miracle!*) and are we interested?
We're going to make an appointment for a second viewing but we're not going to rush - as luck would have it our mortgage broker is on vacation this week so with the best will in the world nothing is going to happen until next week anyway! EA was very keen and so we're guessing that they don't have any other interested parties (certainly none that, like us, have mortgage and deposit lined up and nothing to sell).
So, curious what we should consider offering for the property if we still like it as much when we go back to see it. It's very hard to do comparables as there are no other houses the same design in the village - though the house next door is the same square footage and is on the market for 10 grand more than this one (completely different design, though - bungalow versus two-storey house).
Just discovered Property Tracker (how clever!) and asking price has moved as follows:
August 2015 - 334,950
January 2016 - 325,000
December 2016 - 284,950
...so, they've already dropped their asking price by 50 grand. I think they have found it hard to value accurately given that it is rather 'unique'.
It's a nice enough house and there's nothing visibly wrong with it other than some small pieces of modernisation (and someone with any taste whatsoever needs to completely redecorate from top to bottom - every single room has been wallpapered in a very, very strong style that makes my eyes water).
I'm sure they won't want a lowball offer as they've already dropped so much. But, we are in a good position and willing/able to move quickly if needed. Based on the prices of other houses in the village that have sold recently, I would feel as though I had got a decent deal if we paid 275-ish for it - but again, hard to compare houses that are nothing alike.
What would you offer?
£270k and go up to comfy level. Ours was on for £400k, we'd have paid that but it needed a bit if work, offered £380k and they came back with £385k which we snatched.
Thanks for the feedback/ideas! They feel like a good approach and I'd be comfortable tackling it that way, I think.
Now I'm starting to get a bit excited and just hope the second viewing doesn't change our opinion of the place...
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