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Original poster

Accept offer or not?

29 replies

princessbride17 · 09/05/2018 18:40

I just don't know what to do. Separated from ex a year ago and he agreed to move out if I covered mortgage. House went straight on market and is still sat there a year later. I have had interest but 2 sales have fallen through.

I had an offer a few weeks ago for £10k below the asking price which would leave me still owing about £2k to my parents. They say they are ok with this.
I don't really want to accept such a low offer but the clock is ticking for my mortgage renewal and I really want rid of the place for a fresh start. It would mean I had nothing to start over with though.
Do I cut my losses and accept it, or hang on in the hope I get a higher offer? Anyone have a crystal ball?

OP posts:
AJPTaylor · 09/05/2018 18:46

No crystal ball but if you both want a fresh start that had a "value" albeit not a quantifiable one. Are you both still on the mgage and therefore financially tied?

Original poster
princessbride17 · 09/05/2018 19:26

Yes both on the mortgage. He wants off it but I can't get it on my own. The mortgage is due for renewal in September and I don't think he will want to sign up for a new one. I can't afford the payments if the mortgage goes onto the standard rate.

OP posts:
Furano · 09/05/2018 19:40

He wants out. You need out. Take the low offer and get rid.

Otherwise you could look into mortgages that take lodger income into account?

Madbengalmum · 09/05/2018 19:41

Sell and move on.

AJPTaylor · 09/05/2018 20:34

Defo sell it .

Original poster
princessbride17 · 09/05/2018 21:30

Thanks, I know you're all right!

OP posts:
keepingbees · 10/05/2018 07:01

Counter offer with £2k more so you can pay your parents off. If they decline then I'd accept the original offer for your own sanity. They probably know it's been up for sale for so long hence the low offer

Original poster
princessbride17 · 10/05/2018 10:05

Unfortunately I mis-calculated and I'd be short by £4k if I accepted. I'm desperate to sell but at the same time I have to re-house me and my 1 kids.
I counter offered with £225k but he won't budge. I'll have to wait it out a bit longer Sad

OP posts:
Original poster
princessbride17 · 10/05/2018 10:06

2 kids

OP posts:
Midthreademergencynamechange · 10/05/2018 10:13

I'm sorry but your house has been on the market for a year! You are not going to get a higher offer. It's tough and disappointing but you are going to have to let it go.

Cheeseislife · 11/05/2018 20:28

I think you reasonably may need to look at not paying your parents back as much as you want and keep more back for yourself based on if you went back to the buyer and accepted after all - after a year I think you should have taken it. How much of a % is 10k compared to the asking, and how many other offers have you had?

Cheeseislife · 11/05/2018 20:30

Sorry just read it through again - 5%ish then? That's good in today's market, I honestly doubt you'll have better in time to still complete by Sept

EmmaC78 · 11/05/2018 20:44

If it has been on the market for a year then you should accept the offer and move on. It is not ideal to owe £4000 to your parents but you could be stuck in the house for a while if you don't take the offer.

2018Anon · 12/05/2018 08:01

Thanks everyone, I know you're all right. So he came back with a higher offer of £4k more than his original. I'm playing the game and sticking with my £5k.
He's keeping me waiting now but if he says no, I'll take his last offer of £4k more. That way I almost break even and I can finally get shot of the place.

bilbodog · 12/05/2018 08:26

Dont play around too long or the buyer will change their mind or find something else. Take the offer now and get on with your life.

EveningHare · 12/05/2018 08:31

You wanted 4 extra
He has offered you 4

Where did the 5 come from

PurplePumpkinPiss · 12/05/2018 08:48

I hope you don't get burned 'playing the game' Hmm

MirandaWest · 12/05/2018 08:53

I think you should accept his offer. Otherwise it is likely he will walk away and you’ll have nothing.

2018Anon · 12/05/2018 09:20

Yeah I'm worried now. The problem is though, I;ve had 2 sales fall through already. I always think, if someone loves the house enough they will pay for it. I'd worry if he can't go up by £1k (and my agent says he can more than afford it), then he isn't that bothered. If he's not that bothered, he could pull out if something better comes along. This has already happened to me.
I know these are all ifs and buts, I'm probably more worried that he's not committed enough.
If I've not heard by Monday I will accept his offer.
I know people think I'm daft for not just taking it and moving on, but I also can't afford to not only owe my parents money but where do I get the money to pay for a rental?? You're looking at an upfront cost of at the very least £1500 (that I don't have).

bilbodog · 12/05/2018 09:59

Just because he can afford more doesn’t mean he is willing to pay more. He will pay what he thinks it’s worth. If you have been on the market this long stop quibbling about what are small amounts in the scheme of things. You may think he is not committed but he can think the same if you and walk away.

UpperWallop · 12/05/2018 10:06

Jeez, accept the offer. Monkeying around for an extra grand when you're in a fix is ridiculous.

Redglitter · 12/05/2018 10:11

Have i got this right? You wanted another £5k and he offered £4 and you turned it down? You're seriously prepared to risk losing a sale for £1k? You're playing a dangerous and foolish game if that's the case. What makes you think his offer will still be on the table on Monday. He now has the weekend to look at other properties

2018Anon · 12/05/2018 15:43

£1k happens to be a lot of money to me. I've already dropped the price by £5k, that's the point I'm trying to make. I'm already marketing the house at below its valuation. Another identical house on the street is on the market for £10k more.
I agree though, its only worth what someone is willing to pay.

NoSquirrels · 12/05/2018 15:50

I think you’ve misunderstood how strong your position in this negotiation is, though.

He offered and you refused, asked for £5K more.

He offered £4K - that is a really really reasonable counter-offer. You should take it. It’s nothing to do with whether he’ll mess you around (you can’t know).

You’ve been on the market for a year! It’s not going to get better.

as to the rental deposit & what you owe your parents, I’m afraid you have to put the rent deposit above paying your parents back. You pay them what you can once you have paid all moving costs. Otherwise you’ll only have to borrow it again.

2018Anon · 12/05/2018 16:02

Thanks NoSquirrels. He actually offered £2.5k first then went up to the £4k.
I know deep down I should just bite the bullet and accept it. I suppose the fact I've had 2 offers of the asking price before has clouded my judgement.
Its only been on the market so long because I've had 2 sales fall through. Its been off the market for nearly 4 months since last April so its not really a year.
I keep going to email the agent, then changing my mind. I'm no good at making these decisions!!