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Old Dec 2nd, 2016, 13:36 PM   11
lau86
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No, go ahead and make an offer, they can only say no!



 
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Old Dec 2nd, 2016, 13:43 PM   12
Pearls18
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Hmm....will see what the broker thinks.



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Old Dec 2nd, 2016, 13:52 PM   13
Bevziibubble
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Good luck!



 
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Old Dec 2nd, 2016, 15:16 PM   14
broodymrs
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I'd still offer less. Ours was on for 120-130 and we still got offers for much lower



 
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Old Dec 10th, 2016, 10:22 AM   15
Pearls18
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In regards to the second house I've spoken to the agents who said the seller won't go below 195,000 because he needs it for the house he wants....I just think he's priced it based on what he wants rather than what it's worth?! It's been on the market since May, it's an ex married quarter and in a predominantly military area he is asking way too much I think. Oh well I think we'll offer what we think it's worth and leave it on the table, we're in no rush.



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Old Dec 11th, 2016, 15:12 PM   16
broodymrs
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Hold your nerve! If he's more desperate to sell than you are to buy he'll cave eventually



 
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Old Dec 12th, 2016, 02:10 AM   17
lindseymw
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Before you put in an offer, do some research and present it when you put in the offer (look at sold house prices on Rightmove/Zoopla etc).

Unfortunately, it will depend on what he's paid for it & how long ago (Rightmove will tell you this!) If he bought at the height of the housing market, chances are he can't afford to sell it cheaper.

We have a few properties in the Estate Agents where I work that we consider overpriced but the vendors cant afford to put the house on for a lower price due to the mortgage.



 
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Old Dec 12th, 2016, 06:27 AM   18
Pearls18
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He bought it in 2001 off the MOD (well their contractor) for 54,000, they sold a few off cheap,I know 15 years is quite a long time ago in regards to the housing market but I'm assuming 200,000 is still a good profit, they haven't done all that much to it either. It's tricky to compare prices because many of them are still owned by the military.

I appreciate sellers may need a certain price but what happens if the mortgage compay values it and it just isn't worth that? You'll lose your buyers. It's the risk of the housing market, if you can't sell it for what it's worth (unless you have a cash buyer I guess) then I guess you have to stay put?



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Old Dec 12th, 2016, 06:41 AM   19
lindseymw
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The normal procedure we do is negotiate with the seller on the price if the surveyor devalues the house. It's in everyones best interest to be realistic on the house price if you want to actually sell it. Even a cash buyer (who would get a survey done) would be in the same position.

If he paid 54k for the house, then I would presume the mortgage (or a very good chunk of it) would be paid off! (Unless he's remortgaged for whatever reason) I'm guessing the seller is trying to get another house that is just out of his financial reach and hoping to gain as much as he can from the sale of his house.

For comparables, look at similar sized properties in the area. Doesn't necessarily need to be a military ones.

I would still put an offer forward. At the end of the day, the worst that can happen is they say no.



 
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Old Dec 12th, 2016, 07:45 AM   20
Pearls18
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Quote:
Originally Posted by lindseymw View Post
The normal procedure we do is negotiate with the seller on the price if the surveyor devalues the house. It's in everyones best interest to be realistic on the house price if you want to actually sell it. Even a cash buyer (who would get a survey done) would be in the same position.

If he paid 54k for the house, then I would presume the mortgage (or a very good chunk of it) would be paid off! (Unless he's remortgaged for whatever reason) I'm guessing the seller is trying to get another house that is just out of his financial reach and hoping to gain as much as he can from the sale of his house.

For comparables, look at similar sized properties in the area. Doesn't necessarily need to be a military ones.

I would still put an offer forward. At the end of the day, the worst that can happen is they say no.
Thank you, it's a 4 bed and the 3 beds of a similar type are 130,000-150,000, I will try to find a 4 bed. We're not in any rush so I'm thinking cheeky offer and letting them stew on it! But yeah I hadn't thought of that, I would think their mortgage is paid off like you say.



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