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Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

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Original poster

is 25k -below asking price too low to start with??

35 replies

pinkprincess1206 · 02/05/2010 16:04

would love some advice on this.
We have seen a house which needs alot of work to make it liveable- most suuperficial tho- new kitchen,new boiler, 2 x new bathrooms, new toilet downstairs- and the whole house needs new carpets and decorating.
I am thinking of going in with an offer around 25k below asking price because of this. the house has been on market for 2 years and the couple has seperated- so want a quick sale.

Do you think i am being too cheeky going in that low with an offer?.... DP does- but i think it s worth a try!

OP posts:

NonnoMum · 12/05/2010 21:04

Umm - not sure... Anyone? Can you buy it from the repossession company if you can't get it sooner?

Original poster

pinkprincess1206 · 12/05/2010 21:09

I really dont know NonnoMum! I understand this process now!
Really thought we would get it too!

oh well- i'l email the repossession company 2moro with our details and the offer we made and see what happens.

i guess what will be will be-

OP posts:

Original poster

pinkprincess1206 · 12/05/2010 21:19

that should say i dont understand this process! doh

OP posts:

RedTartanLass · 19/05/2010 13:42

Any update?

ChippingIn · 19/05/2010 13:50

pink - any news yet??

Original poster

pinkprincess1206 · 19/05/2010 20:22

No update as yet the house was due to be officially repossessed today- so i guess now its just a case of waiting till it gets put back on the market. will keep you posted tho xxx

OP posts:

MrsTicklemouse · 19/05/2010 20:32

Not personal experience but a friend of ours bought a house, in a very expensive village, from a repossession company in a similar situation to yours, they knew it was being repossessed, and got it for a shocking discount, I think you are in a good position, give them a cheeky offer though!

Do NOT wait for it to go on the market, speak directly to the company ASAP

Good luck!

Original poster

pinkprincess1206 · 19/05/2010 20:58

mrsticklemouse - i did that- the day i was told it was going to be repossessed! i called the bank who are going to repossess it! so i have already sent a fax in with our offer and details - will have to just wait n see. but hanks for your comments.
I forgot how stressful this all is... esp when 20 weeks pregant!
i feel really bad for the couple tho- abit like we are waiting to pounce on their bad luck.

OP posts:

ChippingIn · 20/05/2010 12:25

Pink - I hope you get it!!

I guess the only way you can look at it is that it is not being reposessed because of anything that you did, someone is going to get it, it's better it's someone that loves it, than someone who just wants to fix it up, make a buck & move on...

(Not that there's anything wrong with that either, but if I were them I'd be happier knowing a family would benefit out of our loss.)

Do keep us nosey interested parties informed

Original poster

pinkprincess1206 · 27/05/2010 21:34

another update-
the house came back on the market today for what we offered! the estate agent put it to the assett management group who say theywont look at our offer until we have exchanged contracts on ours!! boo gutted. there are 4 couple looking at it over the weekend who have cash! so doesn't look like we will get it! fingers crossd they all hate it and no one offers till we exchnage contracts

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