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Original poster

What to offer on this house

55 replies

Wineoffthevine · 15/04/2025 10:19

I’ve seen a house I really like, it’s on at £700k, but the owner bought it for £530k 18 months ago. It is similar to other properties at that value, but I can’t get over how much the current owners have made on it.

Can I put in an offer at £610k on the basis that we split the difference in the profit? Is that fair? What would you offer?

OP posts:
Willowfine · 15/04/2025 10:32

I suppose the question is what have they spent on it to get it to that value? Can you find the previous listing for it (zoopla usually has these). That should show you some of the visual changes, but they may have done other things you can't see like rewiring/central heating etc

If the houses in the area are valued at 700k and the current owner has done work to bring the house up to that value then what they paid for it really isn't the issue. It's unlikely that they are waking away with 170k profit

Original poster
Wineoffthevine · 15/04/2025 10:34

Willowfine · 15/04/2025 10:32

I suppose the question is what have they spent on it to get it to that value? Can you find the previous listing for it (zoopla usually has these). That should show you some of the visual changes, but they may have done other things you can't see like rewiring/central heating etc

If the houses in the area are valued at 700k and the current owner has done work to bring the house up to that value then what they paid for it really isn't the issue. It's unlikely that they are waking away with 170k profit

No visible changes. I don’t think they have done any work.

Apparently according to the estate agent it was a marriage breakdown and they needed a quick sale and the buyer committed to a six week exchange date.

OP posts:
TooExtraImmatureCheddar · 15/04/2025 10:35

The whole concept that they would split the profit with you sounds mad - why on earth would they do that? It would be a different story if you didn't think it was worth £700k, but you do. In their shoes I would ignore a low-ball offer unless I was getting no interest. You're perfectly within your rights to offer £610k, but don't be surprised if you get turned down.

SpringIsSpringing25 · 15/04/2025 10:37

See what has sold locally and for how much.

You don't know the situation behind why they paid what they paid when they bought it. It's irrelevant really, you need to see what other comparables have actually been sold for.

Then offer what it's worth to you and be prepared to walk away if they don't accept your offer.

It's currently their house, not yours, so the concept of 'splitting the profit' is a very weird one

EDITED TO SAY: cross posted with you. It seems like they got a deal when they bought it because of the previous divorcing owners. That's their.'good luck.' And at that time being able to move as quickly as the other owners needed. Why do you think you should now benefit from that?? The house is worth what the house is worth, best gauge from what other homes have sold locally. Put whatever offering you want, but don't be surprised if it's not accepted. YABU & incredibly ridiculous to expect them to share that 'profit' with you, when it had absolutely nothing to do with you

peppermintcrumble · 15/04/2025 10:38

”but I can’t get over how much the current owners have made on it”

They haven’t made anything until someone buys it

mondaytosunday · 15/04/2025 10:39

you do t know if they’ve improved the house, market forces, the position the sellers were in when they bought it.
Best guide is what other similar properties have gone for recently.
It’s not a matter of ‘splitting the profit’. I’d laugh you out of the running if you tried that with me!

Willowfine · 15/04/2025 10:39

Wineoffthevine · 15/04/2025 10:34

No visible changes. I don’t think they have done any work.

Apparently according to the estate agent it was a marriage breakdown and they needed a quick sale and the buyer committed to a six week exchange date.

Show quote history

So it's likely they sold at an undervalue then, that in itself may raise questions from your mortgage lender/surveyor. It's a significant increase in 18 months.

Personally, I'd offer what I thought the house was worth taking into account location etc. you can of course put in whatever offer you want, but if houses in the area are selling for 700k then it's likely the seller will hold out to get as close to that as possible.

EMUKE · 15/04/2025 10:42

A house is only worth what someone is willing to pay. I have friends who have low balled they got declined and was sold next day at full asking. Other friends who have been in a bidding war. Most estate agents and surveyors advise maybe 10-15k below asking price and justification is most people will redecorate/new kitchen bathroom/carpets ect. Thinking offering half of the profits is ridiculous IMO.

SpringIsSpringing25 · 15/04/2025 10:43

peppermintcrumble · 15/04/2025 10:38

”but I can’t get over how much the current owners have made on it”

They haven’t made anything until someone buys it

and even if they do make a good profit on it, it's theirs to make? Not yours.

Foreverexhausted1 · 15/04/2025 10:46

You don't own the house currently so you don't get to split the profit? Don't be surprised if you don't get told to sod off and any offer you submit declined as you could be viewed as a troublesome buyer. If you don't want to pay what they are asking you can make an offer below but will probably be turned down especially if that's what comparable houses in that area are worth. I find the concept of saying I can't get over how much they are making on the house strange - surely you've made money on your current house and wouldn't want to lose that profit? Would you refuse to put in a reasonable offer if someone was selling a house they bought 50 years ago for only a few thousand on the basis that they have made a huge profit? I think you'll have a hard time getting an offer accepted if you keep focusing on what the owner paid and not what the house is actually worth to you

rainingsnoring · 15/04/2025 10:47

You are approaching this the wrong way @Wineoffthevine
The chances that prices have risen by 25% in your area in the last 18 months is practically nil. Nationally, there have been more small falls than small rises although it does vary depending on the area and type of property.
You need to research your local market very carefully and check comparable properties that have sold or are under offer.
I suspect what is happening here is that this divorcing couple are just trying their luck because they both want to be able to afford to buy separately and need a certain amount of money to do this. If you want to overpay to allow them to do this, that's up to you but it isn't a sensible move.
Research carefully and take a step back before you consider what to do. If you really do want to offer, offer what you think it is worth but don't over pay.

Original poster
Wineoffthevine · 15/04/2025 10:50

Willowfine · 15/04/2025 10:39

So it's likely they sold at an undervalue then, that in itself may raise questions from your mortgage lender/surveyor. It's a significant increase in 18 months.

Personally, I'd offer what I thought the house was worth taking into account location etc. you can of course put in whatever offer you want, but if houses in the area are selling for 700k then it's likely the seller will hold out to get as close to that as possible.

Show quote history

I just can’t get over them making £150k off of me. It is a nice house, but it sticks in the craw a bit that they are walking away with so much profit at my expense.

OP posts:
Nourishinghandcream · 15/04/2025 10:53

Be prepared to be told to take a very long walk off a very short pier!
With that attitude, I should imagine they would also treat any future offer from you with scepticism.
How much "profit" they are making for "doing no work on the property" is totally irrelevant.

FuzzyPuffling · 15/04/2025 10:53

Wineoffthevine · 15/04/2025 10:50

I just can’t get over them making £150k off of me. It is a nice house, but it sticks in the craw a bit that they are walking away with so much profit at my expense.

Show quote history

Well don't buy it then!
The market doesn't work the way you'd like it to. If you bought it cheaply, would you be prepared to share your profit when you sell?

whatsappdoc · 15/04/2025 10:53

So many posters get cross over the ‘increased’ cost of a house. Property goes up, it sometimes comes down. The previous purchase price is irrelevant. I bought an antique ring for £5. 10s in 1970, I’ve done nothing to it and it’s now been sold at auction for 2k because it’s fashionable and market dictates its desirablility. Are you saying I should share the profit with the buyer?

towelonfloor · 15/04/2025 10:56

What's the house actually worth? Some people decide they want X which is why houses can take years to sell. If they are divorcing they will want to squeeze every penny out.

towelonfloor · 15/04/2025 10:57

Property goes up, it sometimes comes down.

tbf a lot of sellers struggle to acknowledge the latter.

Original poster
Wineoffthevine · 15/04/2025 10:58

towelonfloor · 15/04/2025 10:56

What's the house actually worth? Some people decide they want X which is why houses can take years to sell. If they are divorcing they will want to squeeze every penny out.

They aren’t divorcing. The people they bought it from were divorcing so wanted a quick sale and that’s why they are saying it was so cheap.

OP posts:
CozyCoupe · 15/04/2025 11:00

TooExtraImmatureCheddar · 15/04/2025 10:35

The whole concept that they would split the profit with you sounds mad - why on earth would they do that? It would be a different story if you didn't think it was worth £700k, but you do. In their shoes I would ignore a low-ball offer unless I was getting no interest. You're perfectly within your rights to offer £610k, but don't be surprised if you get turned down.

Agree with this!! If they genuinely haven't done any work to it and you agree it's worth about that much, why on earth would they split the profit with you??! That's just their good fortune, which is how house buying works!

Laura36TTC · 15/04/2025 11:18

Wineoffthevine · 15/04/2025 10:50

I just can’t get over them making £150k off of me. It is a nice house, but it sticks in the craw a bit that they are walking away with so much profit at my expense.

Show quote history

So don’t buy it then…

Willowfine · 15/04/2025 11:19

Wineoffthevine · 15/04/2025 10:50

I just can’t get over them making £150k off of me. It is a nice house, but it sticks in the craw a bit that they are walking away with so much profit at my expense.

Show quote history

Are there other houses in the area that are comparable to this one? Is this house actually worth 700k?

If that's how you feel then it probably isn't the house for you as you may feel like that whatever you pay?

towelonfloor · 15/04/2025 11:21

They aren’t divorcing. The people they bought it from were divorcing so wanted a quick sale and that’s why they are saying it was so cheap.

Maybe they did get it cheap and maybe it is now worth what they want to sell it for. It's all about the market.

cestlavielife · 15/04/2025 11:21

Their profit is irrelevant
Offer what you prepared to pay
Simple

Shetlands · 15/04/2025 11:26

If the house is worth £700k, they aren't going to sell it for much less! If you don't buy it, someone else will.

BlackberrySky · 15/04/2025 11:28

Your focus is very emotive and all wrong. Offer what you feel the property is worth in the current climate, and nothing else. If the value had dropped since they bought it, would you feel compelled to make up the shortfall? Or do you only feel entitled to a share of the increase? It's not how it works. Offer what you're prepared to pay, but they may very well decline.

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