What would you offer?

[MixedupMartha]

I'm asking this because we may have a buyer and I'm weighing up what would be a reasonable offer.

Our house is on at 335k. It's in fantastic condition throughout, though the family bathroom is dated (clean - white suite etc but blue tiles).

We haven't found anything to buy but will go into rented if we get "the right offer". Obviously this would be disruptive for us and the children but worth it for the right amount.

We had viewers yesterday. They loved the house, though it's about 2 miles away from where they really want to live. Despite this, they love it so much that I think they may offer after the BH weekend. They have sold their house and moved in with family (their furniture has gone into storage) and they're really struggling to find something they want.

I told them we'd move out "for the right offer". They fully understand that this would be disruptive and that we haven't found what we want to buy.

What would be "the right offer" in the circumstances? There's very little on the market in this price bracket/style and certainly nothing finished to the same standard - I can see why they're having a problem finding a house.

How long have you been on the market?

If it's only been on a short time I guess 320ish? If been on for a while more like 310? i think I would offer you about 300 as a start with the expectation of going up a bit - unless I LOVED the house in which case i'd probably plump for 320 straight off. That's assuming 335 is what the local similar houses are on for?

It's been on for a week. EAs were blown away when they came to value - tripping over themselves to get it on their books because they know it will sell quickly.

One of the estate agents said "This blows every other house in the price bracket out of the water".

I can't help thinking that if the first viewer offers, so will others. With nothing in the bag to buy ourselves, we're wondering how much to hold out for.

You do realise though that EA's want the sale? Can only do that if they have house on their books. Cue the flattery. Not saying you're house isn't amazing - just that it's pretty standard practice for EA's to say it is.

your - obv.

You need to look at the market and work out what you need to buy something else. I know there's nothing out there at the moment but look at things that tick some boxes and then work out how much more you think the things you will want will add to a price. So if you want 4 bedrooms look at 3 or 5 and adjust accordingly. on look around for your dream house and then search on right move to see what that last sold for.
All that said - to see to the first viewers after a week on the market I would want pretty close to asking price. The fact that they have no chain would be enough for me to accept a little under asking but not much! Also if you do go for that insist on a quick exchange - no hanging round for months!

In the current climate, I certainly wouldn't offer the asking price. If you are in no rush, I would make this clear and hang on for a bit if they don't offer the full amount.

I really feel for them, actually. They moved out of their house so their chain didn't collapse - but obviously living with family isn't ideal and they need to sort something out soon.

Their position is good in one sense (no chain) but as we've nothing to buy, I'm not sure how much that matters. I really love the house and they were so lovely - I want them to make a good offer!

I know the EAs make all the right noises - obviously - but practically everyone who's ever walked through the door here has loved our little house because we've restored all the period features then stuck a massive extension on it. I always knew any viewer within the price range would fall in love with it but it's hard to judge what's "the right offer" if the offer comes from the first viewer after a week.

And no, they haven't offered yet, but still....

From your posts you're obviously very emotionally attached to your house. Try not to let this cloud your judgement though.. Keep your expectations realistic re whats going on in the market in your area. Hope they make a (good) offer. You'll drive yourself mad trying to second guess them though! Relax. May I suggest a glass of wine

on second glass!