Was our offer too cheeky? Do I want it anyway? What? Why? How?

[outdressedlikethis]

So the chap has fallen in love with a house and made an offer that's 11K under the asking price (£170K). They've rejected us - they think they're on to a winner because it's in great nick and much bigger than the rest of the street.
I'm wavering. It's much bigger than the rest of the street because they've extended it out the back so it's much closer to the maisonettes behind. I know it's a lovely house, it's got loads of space, it's got loads of character (apparently) but I have to take the chap's word for this because all I can see when I look out of the window is the row of maisonettes. (No offence to maisonettes or any other kind of house. They are just there. Right in front of you).

Sorry, it's late, I guess I'm asking 1) are they cheeky to be wanting the asking price (we're first time buyers, we have a mortgage in princip). Do we want it anyway - does anyone have experiences of being very overlooked? My days of wandering around in my knickers are over, I guess. Oh dear.

Link? (just so we can give the best advice, not cos we're nosy or anything, oh no not us... )

Always-Sexy, I'd like to link, but can you please tell me where you are so I don't have to worry that you're the seller (and you up the selling price by £100k tomorrow?)

Also, should we both still be up looking at houses at this time of night? Maybe.

How long has it been on the market? To be honest, in your situation I'd think very carefully because if the maisonettes leap out at you now there is a good chance that feeling of being overlooked will only get worse. Have you had a second veiwing?

You are a buyer with a mortgage agreed in principle with no chain in a buyers market. If the being overlooked thing is worrying you, and they won't meet you on price, walk away. You have other options, they don't.

Thank you. My heart is going listen to the clever women

I'm going to be brave and link it. If someone else sees it and nicks it, that saves me the worry anyway. If you are still up and fancy a look, you can see the problem in photo 8. That masionette is close.

www.rightmove.co.uk/property-for-sale/property-36563881.html

You can't really tell from that photo how close it is but from what you are telling us it is a problem for you. It would be for me too. You should be able to walk about in your home naked if you want (as far as I'm concerned anyway) without anyway seeing in.

I do think it would be a mistake to pursue this due to the way you are feeling just now. Your gut feeling is telling you it's not for you.

You don't like it enough to spend the money so don't do it. If you don't love it don't buy it. And yes, it is a cheeky offer.

I don't think that £159k is a cheeky offer on a house that's on at £170k, especially not with the market the way it is. They are almost certinly being ridiculous wanting the asking price, if you ask me. (Disclaimer: I don't know anything about Southampton though, but it would be true round here).

However, that really isn't the issue. You have quite important reservations about the house and it's worth listening to them.

I always akin buying a property and entering into a mortgage contract with marriage - you HAVE to want it or you leave it because both are a hassle to get out of if you change your minds afterwards!

Saying that very few people get everything on their wish list when looking for a property and usually some sacrifice on the list has to be made somewhere. You just need to decide if you are prepared to sacrifice not wanting to be overlooked? Also need to bear in mind that whilst everyone is keen not to pay more than they think the property is worth offending the seller with low offers may portray you in an unfavourable light with them.

We once received an offer £55k under the asking price only to receive full asking price a month later. Its a funny old game the housing market!

Thanks all.

On reflection and hard core research, I don't think we are being too cheeky (sorry BSB) but I do think I'm not just that into it. If I were into it I wouldn't be having to ask other people to get me into it.

The poor little house! Well, the poor BIG house. Someone will love her, though.

So this has evolved into a different question...we have been looking one month and not found the right thing - please tell me I'm over worrying and that one month just before Christmas is not time to be panicking?

It isn't a cheeky offer. But it might be priced to sell and if somebody else came along and bought it would you be annoyed. This is what you have to ask yourself. Is the house worth that amount of money and can you afford it and do you like it a lot. And how many other houses are likely to come up at a similar price which are just as nice.

One month! Some people look for years for right house to come on the market and become their home.

You are going to make a big mistake if you don't relax about it all. You'll be much better renting and not putting pressure on yourselves. House prices are coming down anyway so each month that passes you are saving money.

I used to live just round the corner from there. Those houses come on the market all the time, so if you are set on the area just wait a few weeks. PS the party walls are paper thin - we left because of noise issues. May be best to walk away!

ps and no, it certainly wasn't a cheeky offer.

There will be loads more properties on the market in the Spring, with the traditional peak for selling being about Easter time. Have to say that that looks like a good house for the money, mind you.

You don't sound too sure about the house anyway. I wouldn't go for it if you have any reservations at all. Who knows, someone else might snap it up for asking!

After christmas more houses will come on the market. People want to get christmas out of the way, talk about new years resolutions and decide that they will move (we did anyway). My husband works in the industry and it is very quiet until january now.

£11k is less than 7% of £170k. Surely the sellers should have been expecting offers in the region of 10% under. Getting 93% of your asking price is good going these days!

IME, 'priced to sell' is a phrase only used by EAs and over-ambitious vendors. Any of the houses that we viewed where those words were uttered have not sold, despite dropping their price.

Well I'm not an estate agent. But houses are not selling because prices are too high. And people can't afford them. I keep meaning to start a thread about it. But people aren't prepared to drop because they can't afford the next house up. I wouldn't mind a better house but I just can't or am not willing to bridge the gap because it's far far too high. So I am staying put.

If you have reservations walk away. The house we have is our first house, we both walked in and loved it and the area, we are on a hillside and there are houses fairly close but we still have our privacy.

One month in at Christmas is no time at all, few fresh houses are on at this time of year so id give it until the first quarter of next year and see how you go.

We did get this house within 3 months of looking but it was Easter and the market was flooded with properties and we were desperate to buy as DH was travelling this way and paying extortionate amounts on hotels

It took us about a year to find a house to buy. So don't get too panicky a month in.

Thanks everyone - this is all very reassuring. It's helped clear my mind. Thank golly for the internet and a broader perspective. We'll watch and wait.

It seems silly to turn down that floorspace because of being so hemmed in out the back, but I've realised that you have to go with your gut with house hunting.