Revised offer on flat

PaulStat · 3 Aug 2011 at 16:17

Ugghhh getting frustrated with this whole process now :mad:

, basically had our flat on the market for 240k we had an offer in and eventually settled on 225k (this seemed to be the round about the price flats were finishing on around the area so we went for it)

Couple of days later we managed to get an offer we made accepted, managed a 11% off of the asking price which we were chuffed with as it was enough to pay the fees and the work that needed doing to the house, absolutely perfect location and a great size, haven't seen a house this good in months and months of looking.

Anyway started to get a bit worried when the people who offered on ours started dragging their heels a bit, basically they're revising their offer because one of their essentials is to revamp the bathroom which is going to cost them a lot more than they thought.

I would have been happy to accept a revised offer of 220k as it still provided us enough of a margin, just heard they've put a final final offer of 215k!

Anyway we've gone away to ask the place we're offering on if they would accept a revised offer of 5k less.

This whole process is just so ******* annoying! We really don't want to lose out on this place

Anyway rant over I suppose

PaulStat · 3 Aug 2011 at 16:31

the bathroom is tiny, basically there's an outside storage area directly behind the back wall which they want to knock through in order to expand it, will involve a relatively small steal.

what's really annoying is we bought this flat back in 2007, prices have dropped about 9% since then, so 225 was about right

edit: if we were to say no and pull out, then put it back on the market for 225 for a quick sale (agent reckoned he could flog it in 10 days at that price!) would we still have a chance with the place we offered on? I assume we would need to re-offer? Not sure how these things work

PaulStat · 3 Aug 2011 at 16:52

Place we've offered on is empty, ex tenanted house

PaulStat · 3 Aug 2011 at 16:57

^ yeah after 6 months

PaulStat · 4 Aug 2011 at 07:02

I don't really understand how why the plan to spend so much on the bathroom, the setup at the moment is basically like this (apologies for the corner bath model couldn't find anything smaller)

The space between the bathroom and the toilet room is the porch, imagine a similar size room again behind the bathroom, they plan to knock through the back wall and have another toilet in the new extended bathroom (from what I understand this is the bit that's going to cost money as they have re-direct piping to the sewers). Can't say I really understand why they'd want two toilets literally 10 ft away from each other.

Personally if I were to splash some cash on the bathroom I'd take out the sink and the corner bath and turn it into a wet room, it's the perfect size.

edit: something like this

PaulStat · 5 Aug 2011 at 14:22

Well fed back to them yesterday morning that we wouldn't accept any lower than 222.5, still waiting to hear back, I hate this waiting game it's so frustrating, I wish everyone was as quick to respond as we normally are!

Still the fact they haven't just pulled out straight away can only be a good thing........right?