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Original poster

Urgent advice needed - housing market in peterborough

6 replies

katiekitty · 27/09/2007 09:06

Hello - should I accept an offer on my late mother's house? It's in Peterborough, on the market for £210, needs work doing on it, cosmetic rather than structural, have had an offer of £190, it's the best offer we've had so far, should we take it? We need a quick sale but is £20 under the asking price a bad deal? Does anyone know the market in this area? I don't live there. Please help I will have to get back to the estate agents today! Thank you xx

OP posts:

flowerybeanbag · 27/09/2007 09:22

katie I'm relatively near, if you need a quick sale consider taking it, depending on how long it's been on the market and how much other interest you've had.

Or you could go back and say £195 and you've got yourself a deal?

Original poster

katiekitty · 27/09/2007 09:30

Hello Flowerybeanbag - thank you for your reply. I got the offer yesterday and went back to them and asked if they could meet us halfway, say £200k, hoping they's either say yes, or that they'd offer £195K, however, they said a resolute no. Their one and only offer is £190k. SO, I said no, but now I'm thinking I should accept it..aaargh, haven't slept over this one. We've had 3 other offers on the property, all too low and it's been on the market for about 6 weeks. How would you say the market is in Peterborough? x

OP posts:

flowerybeanbag · 27/09/2007 09:34

I don't know Peterborough specifically, I am near Huntingdon, but here at least some things are staying on the market a long time, and having to go for quite a bit under asking price I think. We moved fairly recently so I am still nosy about the housing pages in the paper. I remember for a least a year after we moved some of the houses we looked at were still on the market.

I'd say if it's been 6 weeks and all other offers are low you should probably take it.

Original poster

katiekitty · 27/09/2007 09:39

I think we should take it too. Initially I thought we should see if anything better came along and I think this will be it. I've been up all night thinking that if we were to reduce the price, then it would be to say 200k or 199k, so therefore an offer of 190 would be acceptable as no one ever offers the asking price, therefore, hanging on for the extra 10k may take months, or it could happen instantly, if you see what I mean. It's a big gamble..wait, or not wait...so I think I'm going to accept the offer!

You're right about some properties not selling, it must be agonising if you're in that position. Huntingdon's a nice place, I hope you have settled into your new home well?

OP posts:

flowerybeanbag · 27/09/2007 09:42

yes, loving it - it's been a couple of years now, big improvement on Wimbledon where we were previously!

JHKE · 28/09/2007 10:46

Hi, I live in Peterborough.. I guess it depends what part of peterborough the house is in... I guess you can look on www.rightmove.co.uk and put in the area your late mother lived in and get a comparison on prices...and also check on their website what house prices sold for to get an idea.. We moved last year and we accepted 11k less than the original asking price.. took 4/5 mths to get that. Not thats the same for everyone mind.

HTH

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