Our dream house is on at guide price 299k but we only have 250k max

[NotAnotherNewNappy]

I know you can't tell me the answer but I need someone to talk to me about a house I can't stop thinking about.

It's perfect for us in terms of size, location, garden and so very pretty. It's also a complete state - think carpets in the bathroom and kitchen and 50s junk decor throughout, a real fixer upper. Looks like it has been in the same family for years and now the owner has died and the children are selling it on.

There are commparable but immaculately presented houses for sale in the same area for 299k, 310k and 385k. However these are terraces and the one I want is an end of terrace.

So how do you rate my chances of knocking them down to 250k????

I would say it's possible - what have you found out about vendors? It depends on how long it's been on the market, how much interest they have had, how desperate they are to sell and what your position is, e.g. do you have to sell, have you got mortgage offer etc. You might have to hang on a bit though - it's definitely worth seeing it and putting an offer on the table - you've got nothing to lose!

Not high tbh. I suppose it depends on how desperate they are to sell. It's about 16percent off. How much would it cost u to do it up? WHen we bought and sold our chain all knocked 10 percent off. Maybe worth asking though. You have nothing to lose.

We are first time buyers, have a decent deposit and a mortgage agreement.

The house hasn't changed hands since before records were made public (i.e. no listing on zoopla) so is probably all equity. It has been on the market since the end of the summer.

I have no idea how much it would cost to do up - ideally it would need a new kitchen, new bathroom and new flooring/decorating throughout. The other houses all have driveways which this one doesn't. I could easily spend 100k on it, if I had that sort of money. It does have central heating and double glazing and the roof looks sound. TBH, I was planning on just living with it until the DC go to school

Can you get some actual sold prices as comparables as well? For example, if the £310k house is only likely to achieve 90 percent of asking - £280'ish - and improvements are going to cost you at least £30k - that would justify your £250k offer. Do you have a plan to fund the necessary improvements though?

I'd make sure your offer is as strong as you can make it - i.e. get the mortgage approved in principle if you haven't already, and stress any other factors that could make you attractive buyers.

As for your chances - just depends doesn't it!

Ah, sorry - crossed post. Is it new to the market?

I think it came on in September. Is there a way of finding out how long something has been on the market?

I like your reasoning Thromdimbulator. Will the EA necessarily pass on all my reasoning?

You can download the Property Bee toolbar. This will give you the history of the property's listing on Rightmove including any price changes. www.property-bee.com (you'll need Firefox as your browser). Also worth using is the price comparison report feature on Rightmove. Look at the top tabs, select House Prices, then Price Comparison Report. The more you can narrow your search field the better results you'll probably get.

Unfortunately, the best researched argument doesn't guarantee that the seller will drop the price - and strangely, it often seem to be the ones that bought their house of £1.20 in 1960 that are the hardest to do a deal with. On the other-hand, if the relatives just want to get shot you're in a strong position as a chain-free buyer.

I just rang the agent to book a viewing but it's under offer Ah well, it clearly wasn't meant to be.

That's disappointing. With the transaction fall-through rate being so high, I'd keep an eye out in case it comes back on. But yes, probably not meant to be. Who knows what horrors the survey may have revealed! Yes, the more I think about it, the more I think you probably wouldn't have liked it anyway. (is that helping?)

It wasn't meant for you, no. There is something even better and within range just around the corner. I can feel it