Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Other subjects
Original poster

*Another* house buying question from me

20 replies

Beccarollover · 04/05/2004 15:44

Right....

I have put an offer in for the asking price of the house I really really want through the agent - they came back to me and said the offer was acceptable as long as I confirm to them I have a buyer and mortgage agreement in principle.

I have had 2 offers on my house one for 2k less than asking price (117k) which would be fine but she has her house to sell and has no interest.

A first time buyer offered 112k this morning which I think is far too low - Ive decided on 115k as the price im prepared to accept and need to afford the next one.

I was prepared to offer up to 142 on the next one but the offer they are saying is acceptable is the asking price of 139950 - so ....... should I hold out and wait to see if first time buyers up the offer, accept the womans offer who needs to sell or approach the first time buyer and said im prepared to accept a lower amount (say 13500) seeing as it looks like I might get the house i want for 2k less than I was prepared to pay?

Im hoping this made some sense as I really dont know what to do and would appreciate some advice.

Also, do you think its worth ringing estate agent and getting them to reduce house to 115k instead of 117k seeing as I would quite happily accept the 115k?

Phew

OP posts:
SoupDragon · 04/05/2004 15:52

Maybe tell agent to tell the 1st time buyer you'd be prepared to accept £115k?

Janh · 04/05/2004 15:53

Could you afford the £139950 if you only got £112? If so maybe you should just accept it - how many first-time buyers are there around at that level?

Janh · 04/05/2004 15:54

Oops, sorry, missed that you said you needed 115 - or was that if you were going to have to pay 142?

If you really need the 115 then do what soupy suggests.

Original poster
Beccarollover · 04/05/2004 15:57

I have just called the estate agent and instructed them to tell the first time buyer that Im looking for 115k and for this will include carpets, curtains, light fittings and breakfast bar furniture to make it seem like he is getting a little package for his money!!

We could probably up the mortgage by 3k if we accepted 112k but I really feel its a bit of a piss take offer!

OP posts:
phatcat · 04/05/2004 15:57

I would let the 1st time buyer know that you're negotiable for a quick sale, but not name an amount and see what comes back.

Also - what's the chain situation for your vendors - have they got somewhere to move to?

Blu · 04/05/2004 16:00

IME people usually start the negotiations with a low offer. Definately get the estate agents to tell them you need more.

SoupDragon · 04/05/2004 16:01

Buyers often put in a low first offer. It's rare to go in with your upper limit. Definitely sounds good to give a list of things that are included.

Original poster
Beccarollover · 04/05/2004 16:03

I just found the 112k to be a rather ridiculously low offer or is 5k under the asking price a normal place to start if they can go up to the asking price?

I rejected the offer this morning and they have left a message for him but still waiting for him to get back in touch

ITS SO TENSE I JUST WANT THAT HOUSE!!!

Ps anyone following previous thread "which would you go for" its house number 2 Im going after!

OP posts:
Janh · 04/05/2004 17:28

becca, he's probably read one of those helpful articles for new housebuyers that suggests offering c 95% of asking price to begin with (They certainly used to say that...not sure if they do these days.)

Janh · 04/05/2004 17:29

I take it no 2 didn't feel small when you got inside it btw?

Original poster
Beccarollover · 04/05/2004 17:36

No, not really - living room could do with being bigger but it has lovely big kitchen/dining room which is way way bigger than we are used to and a conservatory on the side which provides lots of extra space - garden is big with a drive and garage at the bottom (back lane at the back)

front it is lovely and secluded for kids to play, fitted wardrobes in each bedroom and lots of storage cupboards, immaculatley clean and decorated etc etc and up for the same price as the run down slightly bigger one across the road - while i know property ladder wise its probably better to just buy the space but i really couldnt face the work involved in our situation at the moment - also couldnt afford it for a long while.

can you tell i quite like it?

OP posts:
Janh · 04/05/2004 17:51

It does sound lovely! (I liked the sound of the layout from the dimensions.)

Are you OK with the back lane?

Original poster
Beccarollover · 04/05/2004 17:58

Yeah Im ok with it as even the run down one's location was crap with the social club - Im spoilt where I am now as I have a nature reserve behind my back garden and quiet cul de sac in front but looking around in our price range I think house number 2 is the best we can get - in fact I think its because of the backlane that we can afford a house like this..

OP posts:
Original poster
Beccarollover · 05/05/2004 17:48

Accepted an offer from the first time buyers today for 115 k

OP posts:
GeorginaA · 05/05/2004 17:51

cheer wtg Becca!

SoupDragon · 05/05/2004 18:03

Wahey!

Crunchie · 05/05/2004 18:52

BR that £5 below asking price is about the norm to offer, often someone will go about £10 below (but that is taking the piss) If your home was on the market for £117,500 I would offer around £110 as a first offer - in my head I would go up to £115 (which is what they did today )

Janh · 05/05/2004 19:24

FANTASTIC! Well done, becca!

kiwisbird · 05/05/2004 19:49

Well done Becca!!! Hope it all goes smoothly from here!
WE had offer on our flat from first viewing 2 k below asking price which was ok, but as they have only just out house on the market, we have a house under offer ooop north so really am looking for first time buyer... have sinking feeling that was the only viewing we'll ever get now LOL
It's so goddam tense and I'm always hoovering!!!!

Hulababy · 05/05/2004 19:55

Great news Becca

New posts on this thread. Refresh page
Swipe left for the next trending thread