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Original poster

What, IYO, is an acceptable offer on a house up for £145k???

27 replies

Becaroooo · 31/07/2011 16:19

Bearing in mind we have sold and therefore have no chain, have our deposit and mortgage agreed? So, in effect we are ftbers!

I would like to offer £130K....wwy think if you were the vendors? They have seen a house they want (same village) but the owners of that one need to sell so it will mean a chain (which we are fine with - we can wait)

TIA!

OP posts:
MrsCog · 31/07/2011 16:26

Are you able to work out what they paid for it (and therefore how much might be outstanding on their mortgage) on houseprices.co.uk?

I think 130K is perfectly reasonable though as a starting point.

DottyDot · 31/07/2011 16:27

Yes - before I opened the thread I was thinking £130K. Smile You might have to come up to £135k or £140K, but it's a good opener!

Original poster
Becaroooo · 31/07/2011 16:28

They bought it about 30 years ago so a sold price back then wont help me!!!! Smile

It will need a new boiler if we moved in and dh wants to put up a garage so I am factoring that in too.

OP posts:
Original poster
Becaroooo · 31/07/2011 16:29

dotty £130k would be my limit I think bearing in mind the garage and boiler issue

OP posts:
Karstan · 31/07/2011 19:18

I would possibly offer lower, it depends on how much I think it's worth. We offered 20k under a lower priced house and had our offer accepted at 14k under. (FTBs)

Karstan · 31/07/2011 19:20

Oh, and our absolute max on that house was 10k under asking (it was quite overpriced imo) so our opening offer was based on our absolute max as opposed to the asking price if that makes sense.

MrsCampbellBlack · 31/07/2011 19:44

I'd offer £130k and make it clear you aren't negotiating - thats your first and final offer.

We did that and it worked out fine - did take vendor 3 months to decide to accept our 20% under asking price offer though Smile And that was his year.

ShoutyHamster · 31/07/2011 20:39

If they bought it about 30 years ago they're less likely to have a huge boom-time mortgage on it that they desperately need to break even on :) so I'd say that they're more likely to be open to lower offers!

Karstan · 31/07/2011 20:49

That's a good point ShoutyHamster, I knew that the property that we are buying was bought for 7k in the early 80s, the original owner was deceased so the property was empty and her children were selling it. All things that meant they were more likely to accept an offer from proceedable buyers than hanging around for something better in the current market.

Original poster
Becaroooo · 01/08/2011 04:52

hmmmm....food for thought.

They seem keen to move and have found a house they want but the chap seems a bit tighfisted to me (they had a new kitchen put in a few years ago and he "wouldnt have a dishwasher") Hmm The boiler also needs replacing and hasnt been done.

The kitchen and conservatory are all pretty recent (within the last 5 years) and the bathroom is large.

Will have a think.....might go back for another look....

OP posts:
Gonzo33 · 02/08/2011 10:40

I'd go lower than 130k if I am honest. With the boiler needing doing and with wanting to build a garage I'd probably go in with a cheeky offer at 125k with the view to max out at 132k.

Original poster
Becaroooo · 03/08/2011 15:02

hmmm...£125 sounds good to me! Smile

OP posts:
Gonzo33 · 04/08/2011 10:45

Good luck Becaroooo I have been following your threads with interest.

Original poster
Becaroooo · 04/08/2011 12:25

Thanks gonzo! There have been a fair few of them recently havent there?

Grin
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Gonzo33 · 04/08/2011 13:30

Yes, but when I come to sell up I am sure I will be just as stressed as you. I just hope I don't have your bad luck!

SingleMan25b · 04/08/2011 15:54

My starting point would be 125K - but also make sure they know you are chain free, mortgage in place and ready to move asap.

Original poster
Becaroooo · 04/08/2011 16:25

Ugh...honestly, its ridiculous!

Have rang an EA to enquire about a house we want to view when we have moved - stating our position - and asked if they are open to offers and the EA said no!!!! Well, said they would possibly accept £2-3k under but thats it!!!

Is it just me????????

We have moved heaven and earth for our buyer because he was in a good position to buy...we offered £5k under asking for a house not long ago and were refused!!!!

gonzo Best of luck for your move.

OP posts:
SingleMan25b · 04/08/2011 17:04

It all depends on the seller the property and its location - some sellers will chase the market down for years. Some will accept a lower price now and sell.

Sidge · 04/08/2011 17:07

We're on the market and I wouldn't accept £20k under asking. £5k yes, but not 20k.

Hope you find something soon.

Original poster
Becaroooo · 04/08/2011 17:07

ugh...I want the latter!!!!!! Grin

OP posts:
cyb · 04/08/2011 17:15

On Location Location those 2 muppets always offer really low initally- the vendors can only say No can't they

Its in the EA interests to put you off putting in a low offer isn't it? Theyre thinking of their commission at the end of the day

tyler80 · 04/08/2011 18:37

Our offer of 15k under asking was accepted on a cheaper house so anything's possibly Becarooo, you just need to find the right house with the right sellers.

Original poster
Becaroooo · 04/08/2011 18:40

Yes thats true tyler Seem to be having trouble with that atm though!!!

OP posts:
Original poster
Becaroooo · 09/08/2011 20:24

hmmmm....the house has been reduced to £140k....Hmm

Does that mean
a) they want that figure
b) they are willing to consider offers
or
c) they really want to move!

aarrghhh.....

OP posts:
MrsCampbellBlack · 09/08/2011 20:28

We paid considerably more than £20k under the asking price - it was into 6 figures but the vendor really did want to sell and thats key.

So many vendors in my opinion were taking a punt and would only sell if they got the mythical amount they thought their house was worth.

I know some people just can't afford to move for less than a certain amount but it doesn't make their house worth that amount if that makes sense.

I'd make the offer Becaroooo and see what they say. Good luck!