Offers Over Help
Posted 11 February 2012 - 01:59 PM
My wife and I have found a property we like and are wondering what the etiquette is with offers these days.
The house is in Glasgow and is currently on the market for offers over 235K. It first came on at 275K in June 2011 before being reduced a week later to 255K before hitting it's new price in mid January this year. The home report valued the property at 265K in June.
What would you offer in these circumstances? The owner no longer lives in the property and we are in a position to buy straight away. I asked him what he would accept and he was pretty coy and didn't really give any idea.
Posted 11 February 2012 - 02:30 PM
Do you think it's worth £235k to £250k? If so, offer what you think it's worth and see if they accept. If they don't you negotiate to some point between what they want and what you offered at initially. Given that they're eight months down the line, they're very unlikley to disregard an attempt at negotiation, even if they do reject your first offer.
Don't waste your time with verbal exchanges between you and the seller. Get your solicitor to put your offer in writing and bang it over to the seller's agent, assuming you want to buy it.
I've seen many properties selling in the last few years at below their offers over prices, so any previous 'etiquette' would appear to have gone out of the window.....
No-one will pay over £250k, given the stamp duty threshold.
Posted 13 February 2012 - 09:43 AM
Posted 13 February 2012 - 08:12 PM