New to this buying & selling lark - advice needed

[Bean74]

Hi there,

Just after a few opinions.

We put our house on market at 265k last week. Know this is a tricky price point cos of stamp duty threshold.

Had 3 viewings so far. One person come back with informal offer at 250k. She has has an offer and her buyer is in rented atm.

We've seen a house we like at 395k with no onward chain.

Do we hang on & hope we get someone who offers more? Or accept offer?

What would you offer in the current climate on house we want to buy. I thought 375k but didn't know if too cheeky.

Aargh this is all so confusing - any advice would be fab.

Ta

Bean74

Well no-one accepts the first offer, they usually just say something to see how the land lies. But like you say the threshold for stamp duty is roundabout there so will cost them more so will be reluctant to cross that.

if you offer 375 and they say no you can offer more, you don't just get one shot

if you offer 375 and they say no you can offer more, you don't just get one shot

How keen are you to move ? I suspect they won't take your offer seriously unless you have already accepted one or at least have proof of a serious one. Suggest your base your calculations on accepting 250 (assuming that you would be willing to accept that) and see if they would entertain it. However strongly suspect your buyer won't actually pay 250 in the end due to Stamp Duty. She isn't chain free though so that doesn't give you much leverage up the chain as you can't go for a quick completion.

Unlikely anyone would pay more than £250k - I'd take the offer and try to negotiate on the house you like.

Update!!

Have accepted £250k & now going back for 2nd viewings on £395k house tomorrow. Quite excited!

Bean 74

and ... ?