What to offer?

8 replies

Karbea · 30/05/2011 19:45

dh and I viewed a house we love yesterday. It's been on the Market since aug last year and according to the agent they've had no offers, and the price hasn't been reduced.
The lady made it very hard to view, this is the second time we've tried and she gave us one option over the whole weekend.
I'd said to dh before we went I bet that she was a divorcee and didn't really want to move, but when we got there she is pretty much packed up and wants to move near her parents, her father is sick.
The property is on an estate on maybe 20 other properties, 2 others have just gone in the Market and are 10/15% dearer. But are slightly prettier, extended, slightly better location on the estate.

We really don't know what to offer... Thoughts? how have you decided what to offer?

Oh and dh are in a good position as we should exchange on our house next week.

OP posts:

narmada · 30/05/2011 20:30

If it's been on the market since Aug, it'ssignificantly overpriced for what it is. Don't offer anywhere near the asking price would be my advice - 15% under at least, or more I reckon.

fergoose · 30/05/2011 22:20

If you aren't embarrassed by the low amount of your offer then it is too high. I agree with narmada.

CaveMum · 31/05/2011 07:37

There is no limit to the number of offers you can make so throw a figure out there and see what happens!
We saw a house on an estate we liked that didn't seem to be shifting, we tactfully asked the agent if something was wrong with it (as other houses on the estate were selling like hotcakes) and he said the owner couldn't make her mind up if she wanted to sell! She had rejected several offers of just under the asking price (which was a good £10k more than other houses on the estate) and when someone offered asking price she took it off the market!
She put it back on the market a few months later for exactly the same price but it is still there 6 months down the line.

Some people are just very unrealistic about their expectations.

Original poster

Karbea · 31/05/2011 17:32

We put in an offer and she is going to talk to the family and get back to us on Thursday am, fingers crossed!

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Rollmops · 31/05/2011 17:39

narmada, if two other properties, that have gone on the market in the same estate, are 15% more expensive by merit of being in better repair etc, then how can you say that the property n question is 'significantly over priced'?

fergoose · 31/05/2011 18:02

Yes but what if the 2 others are overpriced

It's all very well putting a property on the market at a set amount, but it is only worth what a buyer is willing to pay, not what an agent or owner says or thinks it is worth.

narmada · 31/05/2011 20:55

I agree with fergoose. If it's not selling and the agent's doing their job properly (e.g., are actively promoting it), then it's overpriced in the current market. The OP said that the other houses were nicer in some material way - a good extension already completed/ nicer garden/ better situation away from a main road or a junction) may be worth tens of thousands in some areas.

Original poster

Karbea · 01/06/2011 10:35

My DH spoke to the agent for some while yesterday and he said that they had, had an offer but it was very low. He said that there was no reason it wasn't selling (although I do wonder if everyone has struggled to view it like we had done). He said that now she has started packing it isn't doing it any favours. It isn't in the agents window either, so I think it's probably a mix of all things. the agent said that every time he thinks of asking her to reduce the priceanother agent puts something on similar for more money. One house that is on for 10% more sold within a week! admittedly a builder has put a new kitchen in and magnolia'fied it, but still!
Anyway... just waiting to hear! hopefully will know tomorrow!

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