What would you offer?

[Chanel05]

I don't want to list the house as obviously it isn't mine yet!

I can port my mortgage and can pay the excess from inheritance so additional lending isn't required.

Visited a house yesterday that I'm going to offer on tomorrow. Beautiful family home but not a lot has been sold like it in the area for comparison, much like my house too.

It went on the market at £475k at the end of August and then was reduced to £450k three weeks ago. Estate agent said that there's been no offers at all in this time. It's a large family home but what has put people off is that the garden is concrete only, no grass. Not an issue for us as we could afford to have some put in and would want to for our children. It obviously isn't selling so £450k isn't the right price at the moment. We're going back and forth as to whether £435k or £440k. The extra 5k obviously will come out of our own bank accounts and would otherwise be allocated to a new bathroom. It's not a huge difference of course but I'm just not sure where to pitch it in this climate. We haven't sold our house yet (it's literally going on the market next week!) but the owner was absolutely fine with this. What would you do?!

I think you ned to get some offers on your own house before putting an offer in - most estate agents wouldnt recommend their clients accepting an offer when you are not in a proceedable position.

Could be a nice opportunity, if owner happy to wait for you to be proceedable then that says something 15k at 450 is around 3% off so not drastic, depending on what they feel they 'need'. Depends also if you plan to (or are likely to) move again in the foreseeable. If theres not good comparators you could look at historical data, e.g. if it or similar sold for X 2 or 3 years ago-that would tell you roughly what others might have paid for it vis a vis the market earlier this year (when properties were marketed that are now 2 months post completion and hence on land registry), or see what your surveyor tells you if you get that far

@bilbodog that's what I thought, however the estate agent suggested otherwise on the basis that they hadn't sold.

@dholl1 couple are in their 70s and are downsizing. They don't require a certain amount to fund their lifestyle as such. We intend this to be our home to raise our young children and family, so we're looking at 25+ years in our next home. Thanks for the tips!

We currently live in a much more desirable area in terms of affluence (not us!! 😂), desirability but also with quick transport links into London and only a 15 minute walk to the station. The area we're looking at is a good 30 miles away and whilst lovely, is much cheaper and has few transport links, which we no longer require. I appreciate that this probably means nothing in terms of the current climate though!