Offering under in a property

[normanpricesmother]

We have been looking for a new house for a while, our own is under offer and the buyers have nothing to sell and are happy to wait. It's a busy market for buyers where we are, but not a lot on offer so those of the type and size we are interested in are going way above asking price. We've been to see a house that's at the absolute top of our budget but it has lots of room to grow into so we wouldn't mind stretching ourselves. However, it doesn't appear to have been decorated in all the years the sellers have lived in it. Needs painting throughout, water damage to woodwork in the bathrooms, grout in bathroom has been poorly done and is all over the tiles, damaged wood flooring in places. The garden while lovely, is not child friendly and we have two young kids. It has high terraced walls in places and a sunken hut tub which the sellers admit hasn't been maintained in a number of years. Would all of these be sufficient reason to offer under the asking price even though it is listed as 'offers over'? We would need some money to address these things but knowing the market currently it seems risky to offer under? We are in Scotland btw.

Oh also the seller suggested he planned to leave all the white goods and mounted TVs, because he didn't need them and to save himself the hassle. We wouldn't want them but he gave me the impression that he would probably ignore a request to remove everything. What could we do to ensure the property is empty?

I dont think I would offer under the price because jt needs decorating and the tiles have grout in them, that's purely cosmetic. I would want a survey to see why there is water damage, is it normal bathroom moisture kr has there been a leak. The garden is not an issue, you would have to make it child friendly, it could be pretty expensive to have a sunken hot tub removed and filled in. With the white goods and TV, you tell your estate agent and solicitor the house is to be emptied and you do not want these items unless you keep them and sell them on or pay to have them removed. Are they advertised as being part of the sale. If the details say white goods are included in the kitchen then it might be difficult to get them removed, many people would like them left there. I would be more concerned about the electrics, heating and general state of repair like the roof.

I tried doing this in similar circumstances and lost my dream home

Speak to your solicitor to ensure xyz is removed as part of contract.

We asked large broken trampoline be removed from garden, along with remains of old fence panels and boxes in attic.

I think you run a risk of losing a house sometimes and the seller just thinks ok I wont accept your offer or conditions. If the TV are mounted on brackets they are easily removed but if they are channelled in the wall and he removes them would you expect him to fill it, replaster and then decorate the wall. What do the details say about the tvs and white goods and do they mention it could benefit from a bit of updating.

Thanks, I do appreciate we'd run the risk of losing it. The specs specifically state the hut tub is included in the sale but the other stuff is more ambiguous in language. The TVs aren't mentioned and it says 'other slot in appliances include dishwasher and fridge freezer' would you take this to mean included or read it just as a description of the kitchen?

If it says slot in appliances include dishwasher and ff then they are included

If they were not included I would expect it to say space for dw and ff

That's really helpful actually thanks

No-one can answer for you without knowing what the property is and whether it's priced appropriately.

The value of the property isn't lower because it isn't your dream home. And the unmaintained hot tub may be factored in to the OO price.

Regarding the goods he's going to leave behind I'd ignore for now and negotiate when contracting I.e have it in the contract that he must take them. If he doesn't your solicitor sorts it out post purchase.

Is there a significant difference between the offers over and the home report value? In Scotland the offers over is usually just for marketing. The real figure to consider is the home report value.

No it's on at over 315k and that's the home report value.

I think realistically we will need to offer above, with the market the way it is, I was just curious whether offering under due to cosmetic work was cheeky or not. While all the issues are cosmetic, we are talking about needing to paint the whole house as it hasn't been done in a long time and there are places where they've filled holes (most likely from wall plugs) and not bothered to sand or paint it etc. They've also got pets so the floorings are chipped in some places and in need of a good clean or replacement.

Our other option is to wait for something else to come along I guess but it's a great size house in the location we want and I'm nervous about not finding anything now that we've sold our own

Surely the price will have been set with the property as it is now, tatty decor and all.

That's odd the home report is the same as the offers over. If no closing date has been set and there's no other notes of interest there's no harm in offering under. You can always increase your offer.

I would think a house that hasnt been decorated for many years and that has obvious water damage needs more than cosmetic work. It probably needs new wiring and upgrading of plumbing and heating too. How old is the boiler and has it been regularly serviced and maintained? Could be a money pit which is fine if you have the money and will to upgrade it.

Yeah I've increasingly seen people setting the offers over at the hr value, not sure what the benefit of that is really

I'm not concerned that it's a money pit, it's not an old house, only about ten years it just worn if that makes sense. Water damage is to the flooring and shower/bath surrounds etc. Appears to be from water escaping during use and soaking into the woodwork rather than a significant leak.

Apart from possibly problems with water/pipes, the rest is cosmetic. If you want a house in tip top condition that's fine but expect to pay for that!

It's only ten years old? Then if I was the seller I'd think you were mad for saying cosmetic upgrading was a reason for a lower offer. I've seen houses not touched since the 50s!
If it's a hot market you offer what you think it's worth in that market and if your survey uncovers something not apparent, like damp, bad wiring, whatever, then you renegotiate. But I ignore 'offers over' tag (England) and offer what I think will get the house without making me feel I'm overpaying.

Thanks everyone, all good points! We've decided on requesting a second viewing.

I think ten years without a paint is a long time! But then I grew up in a home that was redecorated at least every year. I remember once waking up one morning to find the living room a different colour than it was the night before 🤦‍♀️

In Scotland the usual is five to ten percent over. Going under will likely take you out immediately. Houses are usually priced to reflect the condition they are being sold in.

@normanpricesmother

Thanks everyone, all good points! We've decided on requesting a second viewing.

I think ten years without a paint is a long time! But then I grew up in a home that was redecorated at least every year. I remember once waking up one morning to find the living room a different colour than it was the night before 🤦‍♀️

Ten years! That decor is barely out of rompers. The one we bought hadn't seen much if any decorating since about 1980, some rooms I suspect for significantly longer. That's the sort of point I'd say it being seriously outdated and definitely worn out affects a price, rather than just it not being to the current fashion. But even then, it's usually been factored in by the house agent. If the valuation is okay, then I think it will have been.

It really does depend on the extent of the renovations required and whether they have been factored in in the listing price. If the property is overvalued taking into account the renovations needed with market comparables then I have no issue with offering under listing price. However, it doesn’t sound that dated to me from your description.