Am I being cheeky??

[goldensambo]

Morning everyone. We have seen a house we like. It has been on the market since April 2011. It started at £125,000 and has been reduced once to £120,000. We had a look round and like it but only have 100,000. am I being cheeky in even thinking we stand a chance? I would appreciate any advice. We aren't in a chain and have a mortgage in place.

Yes you would be cheeky to offer that low but you won't know unless you try. If they've had it on the market that long then they must be utterly fed up of it all by now so give the estate agents a call. Make sure you sell yourself and really emphasise that you can move quickly, no chain, mortgage in place etc.
Do your homework too, WHY has it been on the market so long? Is it just market conditions or is there something major that needs doing?
Good luck.

I think its overpriced. Another on the street sold for 90,000 in January this year.

Offer £90k if that is what the other one went for.

We just did whistle. They turned it down. Said they are looking for £115,000. Do we counter or is it game over? Many thanks for your advice.

If you can only afford £100k offer that and be open and honest about your situation.

Say to the agent that no. 33 (or whatever) went for £90k. You're happy to go up to £95k but no higher than that, and they won't get £115. Your offer will stand if they change their mind in future.

If they come back to you, offer £90k, final offer. I'm guessing that they don't actually want to sell their house.

We did say in our opening offer that the other house had gone for 90k and what a good position we were in but it was still a no. Will go back with 95k. So if they say no and then come back at a later date we drop back to 90k? Vendor did seem quite eager to sell.

If another went for £90k then I'd not be happy to offer much more than that. £95k final offer.

We had this walked away; offered on another house and they came back a day later with an offer £5K under our last offer to get us back to the table.

I assume the agent was playing hardball, second house, a lot, more of a project but a bargain and keen to move quickly so we're sticking with it.

We had offered within 4% of the asking price, cashbuyers, we're an estate agents dream but maybe I seemed too keen and they got greedy so I'd be a bit stand offish and do what Babylon says.

Well, quite a lot depends on the condition of the two houses you are comparing. Are they really like for like?

Just because the other house went for 90 doesn't necessarily mean the house you want is too high. My friend took 25 k less on their house as they could afford the big drop and Really wanted the house they had out an offer.

minty the other house is larger and on a bigger plot. This one has an attic room.

Attic room or loft conversion? I don't suppose there's any way you would link it would you?

Its advertised as an attic room not a bedroom so I think that they haven't had the proper building regulations for it???

What position are you in ie house to sell/first time buyer?

If your in a good position with mortgage/solicitor at the ready then offer what you feel is your maximum but reiterate what an excellent positions your in. Say you'll leave the offer on the table but you can absolutely not afford a penny more.

We bought out house 4 years ago.we offered 15k less than already reduced price as the house had been empty for a year. We don't have anything to sell, had deposit/mortgage all ready to go. We made sure that the vendor knew what an excellent position we were in a offer was accepted.

Good luck

Sandychick No house to sell and mortgage in place.

If they're similar houses, are you sure you want to pay up to 100k? Given the 90k sale (from your description that sounds a better house/plot overall) it sounds like they're just being silly with their expectations?

RCheshire - I know your right but there is nothing on the market where we want to be and we need to get away from where we are xx

They've been on the market for 18 months? They don't want to sell.