is this a reasonable offer that no right-minded vendor would refuse?

[ReshapeWhileDamp]

Ok. We have found another house we like. (This, after losing a house that was fricking perfect for us, after the vendor unaccepted our offer, pulled out and did the dirty with a private arrangement.) I am very nervous this time, worried that the same sort of thing might happen. If it falls through this time, we are headed for rentals for at least 6 months - I'm due with DS2 at Christmas. We really, really want to be settled by then and don't want to have to move twice (once while heavily pregnant, once with a new baby).

We have sold our house and our buyers have already exchanged with theirs, and are moving in with family until they can move into ours. So that's a chain of one behind us. We have collateral and a mortgage sorted out. Ready to go!

The potential vendor is renting elsewhere in the country, her house has been on the market since last Christmas and she has come down twice since then. It went on at 415K, which was way overpriced. Then down to 399 for ages, which is why it slipped under our radar for a while. Even when it dropped to 375, we thought 'ah, that place again' and decided to view it just to get it out of the running, now it had come into our budget region. And it turned out to be wonderful! 1920's semi, fab location on edges of a beautiful and useful local village, stripped floorboards, room enough and a good sized garden. It was there all that time...

So we are making an offer tomorrow of, initially, 360K. It is on for 375. Hoping to get it for 365 or at a pinch, 370, because there is work that needs to be done on it. (The house that we lost, we offered 375 as our max on, but there wasn't really anything needing to be done.)

360 is 15K off the asking price - around 4% off the asking price. This seems really good to me. Is it? We don't want to muck around and risk losing this, but we do also want to keep something to do the work, which is why we aren't going in with the asking price.

Sorry, long-winded! I am just so nervous and emotional (hormones!) about it. I hate the thought of losing another house we love. And time's now our enemy if I don't want to be packing boxes whilst having contractions...

If I was the vendor, and the house had been on the market since last Christmas, I'd accept £360k.
Good luck.

If I was the vendor I would rip your arm off for £360k - go for it!!!!

Might depend on owner's finances - if she's been paying a mortgage on it for 8 months as well as her rent, she may well feel positive about your offer.

Good luck! (How much work needs done by the way? )

It might be that £375 is as low as the owner can go - in her mind she might view an offer of 360 as being 55K below what she belives the property to be 'worth'.

If it has been on for eight months then its likely that there isnt anyone else seriously interested, so you probably have some time to increase your bid if the first one inst accepted.

How long has it been at 375?

If not long I agree with bigstripey and she may want to hold out and see if the price drop attracts anyone else

415,000 minus 10% = 373,500

I think it came down to 375 about two weeks ago. It had come up on Rightmove all the time, but the photo they used didn't do it any favours, and before then, it was at 399, so I dismissed it on the grounds that it was only a 3 bed semi (but with a study downstairs, so potentially 4 beds) and that the garden was thin (if 120 foot long) and mostly driveway.

So we finally go to view, and lo! the house is quirky and charming on the outside, attractive and generally ok indoors, and the garden can be easily rejigged to get rid of driveway and more or less double lawn/veg patch space.

Nopressure yes, I know it's already come down by 10%, which worries me, but surely we are acting on the current market price? I hope, anyway. The danger always is that she still views it as 'really' worth 415 (which even the EA said was bonkers).

TheHeathenOfSuburbia - work? Well, at a minimum, we need to make it DS-safe, which entails: putting in bannisters for first section of the stairs (there's a triangular gap from floor level to where the stairs turn. Adults wouldn't fall through, a child would). Making safe the balcony (this is huge, on top of the flat roofed dining room bit) which has rotten wooden railings. Relocating the gas boiler from a built-in cupboard in second bedroom to kitchen wall, directly below. And fencing off end of garden, which is where cars access, to provide parking area and child-safe enclosed garden.

Then, we'd like to uninstall the large shower cubicle in en suite in 2nd bedroom and replace with half-size bath for DC; ultimately to replace the full-size bath in downstairs bathroom with washing machine and tumble, making a utility-cloakroom; and re-do kitchen, which is white and plasticky.

Despite all this, the house is workable as it is (minus the safety stuff).

Thanks for the feedback! I just hope she's feeling reasonable. Maybe she has somewhere she has her eye on where she now lives and is desperate to buy it.

Just go for it!

Ultimately a house is worth what someone is willing to pay for it.

I do think she may wait a bit before taking that low an offer given she only reduced the price 2 weeks ago. You still have plenty of time before christmas and you might find she is more receptive in a couple of weeks

She may also hope you bid up more. Just leave the offer on the table - say it's all you're willing to offer as you feel the property needs work. then leave the ball in her court

Well, we just offerd 360 and we're waiting to hear back. I'm expecting to be knocked back, tbh, but also that she's keen to sell and willl accept 365 or 370. Apparently, she had a 'derisory' offer last week (we have no idea how low) that she rejected. I'd imagine it was in the region of 340 or so - the EA said it was the sort of offer you'd expect if the house were a shell and needed everything doing.

Ring the estate agent and explain as it has now come within your radar as a property where they may except an offer - you would lke to offer but of course not the full asking price.
Remeber the estate agent would laos liek to get ride of the property after 8 months and in this market so try to get them onside aswell

Then offer and see what happens - you have nothing to lose and if they coem back and say no - then aks the estate agent whether what they think might sway on price??

be cheeky and ask and keep asking

Well, we got it! Not at 360, and I wasn't expecting to. We had a counter offer of 370 from the vendor and decided to accept it for peace of mind and security. I had hoped to get it for 365 but I think we'll be ok at 370. It's now come off the market!

Phew. Not out of the woods yet, I suppose, but maybe I now have somewhere safe and nice to have my baby!

Wahey! Saw this morning and wanted to know what would happen. You must be very relieved.

Congratulations!

Congratulations!

Well done . Now the fun begins .

congratulations
we have been in a similar situation and it feels endless.

Thanks. Hope it doesn't all fall through - I feel very pessimistic after last time, but we did meet this vendor and she seems genuine and not mad.

we have just concluded missives(in Scotland)yesterday like exchanging contracts and now it seems real.

I am sure your vendor is also wanting to breathe a huge sigh of relief too that she has a genuine buyer.

keep us posted

Woo hoo.

Yay, colette! It must feel a lot more secure buying in Scotland!

Congratulations, fab news hun :)

Congratulations!!!!!!!!!!

We had the bannister problem when ds started to crawl and filled the gap in with MDF. It is still there 13 years on.