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Everything posted by chrismar

  1. I am considering an offer on a place. It has been on market for over 12 months at same asking price (£248K). there have apparently been 2 offers and the subsequent agreed sales have fallen through during this time frame. I am considering an offer of £210K and incresing to £215 (I could go higher but in current market want best I can achieve.... Is that realistic or not. I have no linked sale etc. This is just a straight purchase for me. The agent has said that he thinks I would need to offer £230 to get it. (but then he would as he is trying to keep sale price up!) The current owner obviously agreed to purchase property in Dec 2006 (sale on LR site is shown as Jan 2007 at price of £218K) What advice would anyone here offer me please on negotiating ...... (we are having a viewing end of this week - so I got 72 hours etc yet to seek advice here) As some background info: In June of last year I offered on another property in the same area - on that I offered £200 and increased upto a top figure of £212 and then walked away and at that time the respective agent said the seller of that property would not accept that offer and wanted more but gave me no idea of what they sought only that they wanted more! Eventually that property did achieve £232 in July of 2010, (and sale is shown on LR site in Sept figures)
  2. That mr tickle. Is the approach I have taken. It has not achieved any result yet for me. All I get told is that the sellers are prepared to wait ...... For someone who will offer them something a lot nearer the asking price than I have done. I for info made my offer on 28 June since tfen sellers have knocked price down 5k but still the flat remains empty. Sellers are a brother & sister who inherited. Property cost 160k back in 2002. They are trying to ask 245k. And at height of 2007 an identical flat in same block went for 220k. Hence my cask offer is below that and has to reflect work needed to remove additions they have made for an oap
  3. I did exactly the same with my highest offer at end of June - put a deadline on it and it was not accepted. When the price was dropped by £4.5k mid July I went back to agent and asked if seller would like to reconsider my offer and was told they wanted to wait. My offer mid- July was £2k less than I had offered end June as when I made the offer in June I stated that as prices were falling this was the highest offer I would make and any subsequent negotiations would be at a max figure £2k lower
  4. I made an offer on a place in June. the offer was turned down and I increased it a little, that too was turned down. The agent selling that property has said to me that the people selling wont accept my offer, and are willing to wait for an offer that is somewhere near the asking price. In fact there are 4 other similar properties on the same street, all asking around the same price - and all have now been on the market for over 4 months, and some since before Christmas 2009, and none of them have sold. Hence I felt that my offer - quite a bit lower than they are asking was a fair offer, and I calculated it out fairly. I did in fact sell a property on this very street in November 2009. So I knew the floor area of my old property, and when I worked out the floor area of the one I offered against, I made my offer in conjunction with that calculation, and also allowed for the market having dropped (as the agent who sold mine in November - has since told me that I would not have got the offer I got back in November now - because prices have fallen, and they did tell me that my own would have sold for around £12K less in June 2010 than it did in Nov 2009) , I also had to make allowances for the fact, that the property i was looking at needed some work - ie a complete redecorate throughout and a few "modifications" that had been made for an elderly person needed removing and the walls etc making good. So I have not rushed back with a counter higher offer - I am sitting and letting them and all the other properties in the area stew... I will wait and write to them again in September to see if sellers have changed their mind, as they may wish to sell this year to avoid paying higher VAT on their agents/solicitors fees in 2011....
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