Hello Mumsnetters,
We have sold our house and about to exchange. We found a property that we like, that ticks almost all of the boxes, but is located on a very busy and fast moving road. The house has been on the market for 6 months, having also been on the market last year for 6 months. Last year, they had 'a buyer' that offered their asking price, but ultimately this buyer did not proceed as apparently there was an issue with their mortgage. So essentially, they had no buyer!
There are 3 other houses on this road, all priced 100k less, who have also been on the market for 6 months plus. The reason we want the house over the others is because it has a bigger garden and a separate annex for my mum.
We offered 8% below asking on this house and it was rejected, with the owners citing 'we got the asking price for it last year' (which has made me mad as they clearly didn't get the asking price from a proceedable buyer or it would have been sold!)
As soon as we find something we are ready to exchange on our house. Our AIP and solicitor is ready to go. The vendor has said they will accept 2% off their asking price (for reference, the house is just under 1m)
I am getting super frustrated as we have accepted a 5% below offer on our own house due to the market being a buyers market at the moment.
I suppose I am just looking for some advice, for someone not emotionally connected to this, on how we should proceed. My thoughts were to place a 5% below offer and walk away if they don't budge. The reason being the house is overpriced (but suits our needs) and is on a road that we will likely struggle to sell again in the future as it's so busy (but it's going to be our forever home to raise our family, so I'm not too bothered about that)
I also want to feel like I have got a good deal (who doesn't?!)
Should we just keep looking?