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Original poster

How much to offer on property? Am sure it will be popular!

17 replies

GurlWithACurl · 27/01/2025 07:44

We are desperate to move into a bungalow or, at a pinch, a house suitable for our disabilities. One came on the market on Friday and I want to view it as soon as I can. Unfortunately, the estate offered me a slot at the very time I have an only (unbreakable) appointment all week! I will try to reschedule as soon as possible.

Anyway, I am thinking about what we could offer if we like it. The details say “offers in excess of £400,000”. After watching the market around here for months, waiting for a suitable property, this figure is around the right price, I think. It is over 20 years since we last bought a house. Could anyone please give me advice? TIA

OP posts:
HaveItAll90 · 27/01/2025 07:49

A house is worth whatever someone will pay for it. You say you think it'll be snapped up soon, what is it worth to you? If I really REALLY wanted a house that was my dream house I'd decide my absolute maximum. Then offer 5k under that to start off with so if it's on for 400k, amd I think I won't go over 420 it's not worth that, I'd offer 415. But it's all relevant because if there is someone else who offers 440 or separately the only other offer is 390k you've offered so much more.

Decide what your willing to spend and go from there

MiddleAgedDread · 27/01/2025 07:54

It really depends on the area, in Scotland it’s usualg
for properties to be on the market at “offers over” and in popular areas they’ll sell for 10-20% over that. In other areas you’d get it for £405 though. Talk the agent about what they’re expecting.

WittyOchreBird · 27/01/2025 08:04

We’ve had three dream properties come up that we knew would be popular so faced the same dilemma - in each case, we told the estate agent verbally on the day we would offer at asking price then confirmed on email. First property went with whoever could complete their chain first (we missed out by a day!), second property went straight to best and final offer (we went £20k over, outbid by another £30k) and third property wanted a quick sale so accepted our offer the day after we viewed as by this point our chain was complete and we were very ready to move.

For what it’s worth, each house we offered on was even better than the previous one - and I didn’t think anything could top the first two. So don’t be disheartened if this isn’t the one!

Blueuggboots · 27/01/2025 09:14

What position are you? You're much more likely to get somewhere if you're ready to move, with nothing to sell....

MoneySpell · 27/01/2025 09:17

We had an offer accepted at quite significantly below the "offers over" number, so don't let that bully you into overpaying.

Gekko21 · 27/01/2025 09:31

Personally, I'd try not to get too excited about a property before you've even viewed it. Houses can be quite different in reality than they are in the pictures. Try to keep a level head when you do view. With specific needs and not much on the market, I can see the temptation to get fixed on this being the one. However, try to not get sucked into offering more than its really worth. The offers only thing really only works if there is significant interest. Otherwise, you can usually ignore it.

Original poster
GurlWithACurl · 27/01/2025 12:31

Many thanks for your helpful replies. I have just skimmed through them but will read them more thoroughly later on (I am struggling a bit just now).

@Blueuggboots we have enough in savings to buy outright then sell our existing house afterwards. As we are all disabled in different ways, this is the best system for us.

We need to move in, then sell as our house is in a mess and we hope it would sell as a doer upper. The one we are interested in appears to have been fairly recently refurbished and looks as if it would meet our needs. Mind you, I might change my mind when I see it!

OP posts:
Blueuggboots · 27/01/2025 12:38

I would go and see it then offer what you think is a fair price and stress your ability to move quickly and that you don't need to sell to proceed.

housethatbuiltme · 27/01/2025 12:42

Are bungalows selling where you are or do you think everyone will want it because you do?

We place excess value on thing we value sometimes even if thats not reflective of general consensus.

Bungalows are sitting around here, theres quite a few terraces of bungalows around that where built specifically for the elderly, they serve a purpose to some but theres not really huge demand for them. A lot of buyers are young couple/families not remotely interested in the usually smaller adapted bungalows.

It however depends on area, if its a good sought after spot in a town/city and a large plot developers might move in, pretty much knock it down to build a bigger two story house, seen that happen once of twice but its usually where theres a bungalow on a street of larger detached houses already.

Original poster
GurlWithACurl · 29/01/2025 14:53

Well, I have just got back from viewing the bungalow and…

I really like it! It looks immaculate with a fairly new kitchen & bathrooms. The decor is clean and carpets are the same. Plenty of storage space. There are a couple of things - the main bedroom is smaller than the one we have here and our lovely but rather outdated dresser and dining table might have to be replaced by something more in keeping. But no property is ever absolutely perfect. The area is lovely (we have lived nearby for a long time so know it well).

BUT, DH couldn’t come with me (DS did) and he is vetoing it because he wouldn’t be able to get upstairs, because of his disabilities. The stairs look too narrow for a stairlift, but there is only one bedroom up there (which would be DSs) and nothing DH would have to go up there for. DH is worried that something could happen and he wouldn’t be able to sort it out. He said a bird might fly in the window!

Am I being unreasonable about this? There is so much going for this house and our local housing market is such that bungalows like this are extremely rare (small town). We cannot look in a wider area for various reasons. It’s over a year since the last suitable property came up. That illustrates what I mean.

I would really welcome your views.

OP posts:
Gekko21 · 29/01/2025 15:26

The bird flying in the window example is clearly a red herring and suggests a deeper concern - e.g. the fact that there will be spaces in his own house that he cannot access. That probably feels like a hard pill to swallow. Obviously, if it's rare for bungalows to come up, there's a serious conversation to be had there on whether that's really a blocker. If you don't go for this house, what is the plan in your husband's eyes? Is he prepared to stay in your current house that is unsuitable for his disabilities for a long time to come?

WhenTheyComeForYou · 29/01/2025 17:11

If you like it, and it’s rare to find a property that meets your needs, I’d go in at full asking price.

Twiglets1 · 29/01/2025 17:18

I would be really pushing this house to my husband @GurlWithACurl & putting it bluntly that he is being rather irrational as no house is perfect and he doesn’t need to go upstairs.

I would be trying to get him to come with you this time for a second viewing and really annoyed if he wouldn’t even look at it.

Original poster
GurlWithACurl · 31/01/2025 21:18

Back again with an update: I have now seen the house twice and managed to persuade DH to come with me the second time.The visit went really well and we met the vendors this time so were able to ask lots of questions. When we got home, we all took a break and then discussed what we had seen.

At first, all DH could come up with were a list of negatives, but then we talked while looking at Rightmove and the virtual tour together. He started to mention lots of positives. We may even make an offer very soon, or not! It depends so many issues.

So, I am now really tired and I expect that we will have continued chats tomorrow. It’s so long since we last moved so have no idea about the current costs involved with moving. Can anyone give me some rough figures? These would be useful whether we go for this property or wait for another:

  1. we are only buying at this stage and will go through the selling process when we have moved.
  2. solicitor’s fees (Midlands).
  3. house survey costs.
  4. moving costs. We need all bells and whistles as we are disabled,
  5. we are cash buyers so don’t need a mortgage.
  6. any costs that I can’t remember (I am very tired having pushed myself today).

Thanks to you all!

OP posts:
Sunshineandrainbow · 31/01/2025 21:22

Depending on disabilities would a standing stairlift work?

DisforDarkChocolate · 31/01/2025 21:28

Being a cash buyer is a big plus point for your.

We moved recently. I can't compare moving fees as we did our own packing but it was still over £2K. Our solicitors fees including searches were about £900 for buying.

I was surprised by how many little things we needed after we moved, dull things like new toilet seats, curtains, storage tubs, small bits of furniture.

It may be useful to hire someone to help you declutter before packing. Paying someone to pack and unpack stuff that should have gone to the tip would be even more annoying than doing it yourself.

Alarae · 31/01/2025 21:38

You will have to pay the stamp duty surcharge as you aren't selling your main residence at the same time. You will get it refunded though as long as you sell within three years.

It's just going to be a significant cash flow issue.

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