Found a house but what should we offer???

[lechatnoir]

We've found a house we like and want to offer but would appreciate some thoughts & guidance on what to offer.

It's on at £425k and hasn't been on long (about a month) but the couple are divorcing so we know are keen to sell quickly. In our area good well priced properties are selling(or at least being agreed) quickly but others are sitting around for months so hard to judge.

According to the agent they've had 12 viewings, one asking price offer on the first day from people who have since disappeared the others either didn't like it or most just weren't in a position to buy. I rang to explain we liked it but not at that price & he said that given our strong position (renting with 60% deposit) they would be very open to offers even if they were below £400k.

So, we want it but given the funds we have available we wouldn't want to pay more than £385k. We would have to walk-away above this level so may all be pointless if the agent's way off the mark and they won't consider below £400k, but, given everything I've said, where do you think we should go with an opening offer & should we put i forward as an opening offer or just 'this is it take it or leave it?'

Thanks in advance
LCN

[noddyholder]

That sounds reasonable.My parents have a house for sale at exactly that price and they would take 375.they have had several viewings and only 1 offer of 341 which they turned down.You sound like a good buyer Do you know when and how much they paid for it?

[lechatnoir]

Thanks Noddy that's good to know. The couple have been there years so we can't find out the purchase price and as it happens we now have to decide if it's still right for us WRT the garden (see other thread ) but if we do go for it we've decided to open at £365k.

LCN

[ABetaDad]

lechatnoir - if you are keen.

Write a letter simultaneoulsy to both agent and owner to make sure they know you have made an offer.

Make sure you you write WITHOUT PREJUDUICE AND SUBJECT TO CONTRACT in bold as a header above the text otherwise it can be deemed a contract.

Obviously you may want to say in the body of the text the offer is subject to survey, you getting a mortgage, selling your home or whtever the conditions are that you want to apply to the offer. You may also want to put a time limit on them replying and accepting your offer.