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Property/DIY

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Original poster

Cheeky offer

20 replies

DonkeyScramble · 10/01/2019 16:34

In the summer I viewed a property which is on at £600k. It was bought 20 years ago for £250k. It's very niche as it is an equestrian property i.e. it has grazing land and stables. Owners had it on the market a couple of years ago then took it off before relisting last summer. It's still on at the same price. Owners want to downsize as they are empty nesters and no longer have horses.

It would probably be worth £600k except that it will be hugely affected by HS2 if it goes ahead. Given that, I wouldn't be prepared to pay more than £500k but would probably go in at £400k to start. Is that too cheeky? It needs some work but nothing that couldn't be done over time.

OP posts:

Mildura · 10/01/2019 16:39

That does sound pretty cheeky!

Difficult to advise much more without a lot more detail.

Some sellers will take offence at such an offer, which could affect future negotiations.

Alexalee · 10/01/2019 16:45

That is very low but if you can justify it then do it... it is a niche property

ChariotsofFish · 10/01/2019 17:11

It’s worth a try, but I would guess that the reason they haven’t managed to sell for several years is that they’re not willing to accept that kind of offer.

Original poster

DonkeyScramble · 10/01/2019 17:26

It's difficult; I don't need to move. My house is big enough and the horse is happy on livery so I wouldn't want to sell my house on the off chance of them accepting. Yet making an offer without having sold my house doesn't put me in a good position.

I can't see them ever selling it for what they want as the HS2 thing is massive. The house falls into the last band of compensation i.e. it's within 200m (I think that's the distance) of the line. After years of building disruption there'll be a huge viaduct cutting across the countryside in front of the house. It's the kind of thing that would devastate anyone who already lived there but could be acceptable to a new buyer for the right price.

OP posts:

Original poster

DonkeyScramble · 10/01/2019 17:28

Just to add, there are quite a few equestrian properties for sale around here but none have sold (of the ones we viewed last summer). Only one other is affected by HS2 so I think it's just that there's a tiny market for equestrian properties.

OP posts:

Finfintytint · 10/01/2019 17:32

Sounds like the owners are pretty fixed on achieving their desirable price. I wouldn't waste too much time on it. You could put in a very cheeky offer but I doubt they'll bite.

SassitudeandSparkle · 10/01/2019 17:35

If that was a residential property I would have expected it's price to rise by a greater percentage than it has tbh, so they may well have included the HS2 in their price. Do you know if they have had any other offers?

As I have said before, one person's cheeky offer is another's total timewaster. I take the timewaster view tbh, and will not be drawn into constantly rising offers - also, you can't proceed at the moment and haven't even got your own property up for sale!

Original poster

DonkeyScramble · 10/01/2019 17:48

It is residential, there's a 4 bed house included. Zoopla estimates the value is about what they are asking for it. No houses in that village are selling due to HS2 (and there are lots, including new builds).

I know I'm not proceedable atm but that's deliberate! I don't need to move and would only want to sell my house for a particular property, not sell it and hope that there was something available later.

OP posts:

SassitudeandSparkle · 10/01/2019 22:24

I'd ignore Zoopla estimates totally as well. They quote average prices for flats in my road and there are no flats at all!

fuzzyduck1 · 11/01/2019 14:14

How’s hs2 going to affect it? Is it going through the property? Or is it just a case of you will be able to see a train go past ones in a while?

You don’t sound that interested in it so why put an offer in at all?

Original poster

DonkeyScramble · 11/01/2019 17:18

I've already said how HS2 will affect it. If I wasn't interested I wouldn't be considering it would I? Having said that, I believe it's massively overpriced and the fact that it's not sold in 2 years would tend to back me up in that view. Equestrian properties are easy to find in my area so buyers have a lot of choice therefore I'd have to be stupid to pay more than I think it's worth. At the current price, no, I'm not that interested, but for the right price I'd snap it up.

OP posts:

OscarsWild · 11/01/2019 18:47

why would you want to invest in it anyway with HS2 going by at 200 metres away?

How would that affect the re-sale when you don't want to live there?

OscarsWild · 11/01/2019 18:49

after years of building disruption there'll be a huge viaduct cutting across the countryside in front of the house. It's the kind of thing that would devastate anyone who already lived there but could be acceptable to a new buyer for the right price.

You'd be mad to even think about buying it!

How would you ever sell it in future?

Original poster

DonkeyScramble · 11/01/2019 19:16

Because there's a difference between buying a house and having it blighted by a later development, and buying it with the full knowledge of that development. Once it's built it'll just be another trainline. I already live very close to a trainline and don't even notice it.

OP posts:

fishseddy · 11/01/2019 20:24

All makes perfect sense OP. If I were you I'd offer the max I was willing to pay (rather than starting lower), making it clear that's your best offer, and see what they say. You have nothing to lose!

supergrains · 12/01/2019 00:50

Go for it, I don't see any downside....is doesn't really matter if you piss the sellers off if you wouldn't be interested in it without a massive price drop.

fishseddy · 12/01/2019 08:45

One thing I would add actually, is to position the offer positively and respectfully, saying that you absolutely love the house, it would be perfect for you and your horse...but that with the impending changes this is what you feel it is worth and can't afford to get caught out.

If they have lived there 20 years they will be very attached to the house and won't want to see it go to someone who isn't bothered about the house itself and just wants a quick bargain.

Good luck!

ForgivenessIsDivine · 12/01/2019 09:27

At that much below asking price, I would go and speak to them, explain your position and give them your full and final figure, don't mess them around even more by starting at 400k.

Myimaginarycathasfleas · 12/01/2019 09:38

If the seller is downsizing due to retirement I think you’ll be lucky if they accept. Once people stop working they have no means of making more money - what they have is what has to last them for the rest of their life. In that position people are reluctant to accept very low offers. But go ahead and try. You have nothing to lose.

I agree about positioning your offer as positively and respectfully as you can. Dissing the property and its value will get you nowhere.

OscarsWild · 12/01/2019 11:03

That's your view though. I don't agree-we once had a house within half a mile or more of a main N-S train line and visitors noticed the noise when staying.

Look at why the house didn't sell and was taken off the market- no doubt because surveys threw up the HS2 situation.

If this is to be your last house ever and you don't have children who will have to sell it, fair enough. But I do think you are underestimating the downside of the line.

It's not just about what you want now- it's about re-sale value too and even selling at all ever if it's that close.

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