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Original poster

i have fallen in love

15 replies

lulu2 · 10/09/2010 11:27

with a house and while I know the town it's on the edge of I don't know the actual area it's in at all.
I have put 2 offers in, both of which have been refused. If I offer again I will be paying more than the other houses in the same street/area have sold for recently. Although the house has been extended and done to a very high standard.
I have been feeling sick for 2 days dithering about this. The house is right, lovely layout, gorgeous kitchen and garden is large, room for a veg patch and sunny.
I have asked people about the area and have been told only good things, apparently alot of retired people live there.
what am i to do? Any words of wisdom Please.

OP posts:
escorchio · 10/09/2010 11:34

Go on, offer again. You know you want to! Grin

Original poster
lulu2 · 10/09/2010 11:44

i do want to but......

OP posts:
PortBlacksand · 10/09/2010 11:58

It's not about what other houses have gone for. You don't know what was wrong with them.
It's about how much you want the house and whether you can afford it. How far from the absolute maximum offer you could make was your latest offer?

Original poster
lulu2 · 10/09/2010 12:05

Our latest offer was 10k below what i would pay as an absolute maximum.
I am worried that someone else is going to buy it although no-one is in the running at the mo.
The house has only been on the market for a month and vendors are moving into rented so they are in no rush and are keen to get near to asking price.

OP posts:
noddyholder · 10/09/2010 12:11

I would offer a part of what would be your max and then hold tight.Not many buyers atm and prices are falling a bit.It does depend on how much they want to sell and your position

Original poster
lulu2 · 10/09/2010 12:14

we don't have to sell and are cash buyers so would like to think we are attractive buyers.
I am just not very good at making decisions and the bigger the decision the more prevarication.
Time for more coffee i think.

OP posts:
BudaisintheZONE · 10/09/2010 12:52

We were in a sort of similar situation - no rush, cash buyers etc. We offered under asking price as you do. They countered with "they would like to get closer to X". We said to the estate agents that we were prepared to meet them half way. Agent said seemed very fair. Sellers accepted. Worth a try?

noddyholder · 10/09/2010 13:19

We did similar too and it was accepted earlier this year.How would you feel if it sold to someone else?That usually helps me decide!

MisterW · 10/09/2010 13:24

It depends on how keen you are to move. If you want to play the waiting game then as a cash buyer you're in a very good position to usurp any other offers that come in. I would make a final offer to them, making it clear that you're cash buyers, can move as soon as necessary and your offer won't be increased.

The housing market is completely flat at the moment so there's no risk of the house increasing in value while you wait.

Original poster
lulu2 · 10/09/2010 13:53

thanks all. The vendors have said they had 5 agents value it and have said they want X. Maybe i will offer to meet them half way as you did Budaisinthezone. worth a try.

OP posts:
MisterW · 10/09/2010 22:12

That's funny, someone who thinks their house is worth what an estate agent thinks. Agents will give a price it should be marketed at to attract potential buyers, not a price they expect someone to pay. In the current market they're going to be waiting a long time for a sale if that's their attitude.

Original poster
lulu2 · 11/09/2010 09:50

i read somewhere that the asking price is what the estate agent values the property at with a heap of hopes and dreams added on.

OP posts:
Rollmops · 12/09/2010 12:27

I find it absolutely daft how people keep harping on about 'how much the other houses on the same street have gone for'. It's only relevant to certain degree, i.e, the very max a house on this location can sell for. All areas have their limits.
However, a house that is fully updated/extended to high standard, has perhaps better garden/parking/whatever, will always sell at much higher price than the one that is still sitting in seventies with avocado bath and the works.
YOu pay for quality; either you agree that the price asked is the price that you believe the house is worth, even if that is not what you can afford; or wait and take your chances. There are plenty of buyers out there, at least in SE.

TheNextMrsDepp · 12/09/2010 12:35

A house is worth what someone is prepared to pay for it. You might end up paying slightly "over the odds" but if you end up living there for 20 years and it becomes your happy home, who cares? You won't remember that extra £10k.

Original poster
lulu2 · 12/09/2010 15:52

thanks for the advice all.

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