Soldato
I mean I would love to see new builds in London for that price in the spec you just listed!
The nervous wait to exchange....
- Thread starter noj
- Start date
Soldato
That's what I did.
Majority here who read my original post about it said it was the wrong decision
I don’t live in London. Hate the place!
There is one locally (Gloucester) meeting the spec but we don’t want to finally settle in a new build.
Soldato
ahh nice . i think if it wasnt for the missus, i would probably have looked for a place outside of london. More value for money and i tend to work from home
Associate
- Joined
- 2 Sep 2007
- Posts
- 1,994
Do you mind me asking what was the difference between your offer and valuation?
Soldato
Well you ended up losing out, I'm not saying I told you so but it's a risky game trying to negotiate ~50k off an offer so early in the game.
Man of Honour
- Joined
- 21 Nov 2004
- Posts
- 46,245
The sellers are wasting time, but they should probably hurry up, because my wife is getting seriously cold feet. I’m tempted to warn the estate agent, they’ll soon move 
We are lucky, I work from home with a small amount of (expensed) travel. As long as we are under 2 hours from Heathrow and close to the Cotswolds we’re happy.
Soldato
The asking price was 25k below valuation.
They still would have made 25k more than what they asked for....
And everyones dfferent. Its called a negotiation. Not a final offer.
I even stated that. You would be stupid enough not to try and negotiate and start low because who knows? Maybe a seller would be happy to snap off a offer thats 25k above the initial asking price.
Soldato
30k below our offer. we wanted to negotiate and see if they were willing to accept the valuation fee and if not, negotiate halfway or just like it or lump it and use our own 30k to fund it.
You would be stupid enough to just bend over and pay over the odds without trying to negotiate as you never know what the seller thinks.
A seller is a human being after all, not some program robot and that means people are different!
Associate
- Joined
- 25 Jun 2005
- Posts
- 1,145
Our valuation was £50k under our offer, we loved the house, definitely a forever home for us (detached, 4 bedrooms, 3 reception rooms, huge conservatory, nearly 2500sq ft and a decent garden full of fruit trees) so we didn't want to let it go.
I went to the estate agent cap in hand and attempted to split the difference, using the argument if we dropped out the same thing would likely happen again next time around unless another buyer was a cash buyer. We ended up £5k over splitting the difference. Yes, we've overpaid a bit, but it will be a 30 year house for us and to be honest I've not got the energy or time to go through it all again. We've got plans for the house and I don't regret it one bit.
We've topped the up extra ourselves to not disturb our LTV and exchange should be this week unless something else goes pear shaped!
I'll admit we were lucky as another seller could have easily told us to jog on, the price is the price.
I went to the estate agent cap in hand and attempted to split the difference, using the argument if we dropped out the same thing would likely happen again next time around unless another buyer was a cash buyer. We ended up £5k over splitting the difference. Yes, we've overpaid a bit, but it will be a 30 year house for us and to be honest I've not got the energy or time to go through it all again. We've got plans for the house and I don't regret it one bit.
We've topped the up extra ourselves to not disturb our LTV and exchange should be this week unless something else goes pear shaped!
I'll admit we were lucky as another seller could have easily told us to jog on, the price is the price.
100% the right thing to do if you see it as your home for so long. Had you not gone though, you’d be kicking yourself.
Does Rightmove even allow you to search for sq foot? I don’t think it does and it annoys me, simple above so many square foot, double garage etc and that would make it so much easier for me to look. Rather than playing detective and looking at the floor plan, then check Google maps to try and find the house. Such a broken market really.
Soldato
I've spoken to Rightmove about that before (because it winds me up) - they said the software all the estate agents use has a sqft field but it isn't a required field - so they don't bother to fill it in - then that ends up not present in the data when it gets to Rightmove.
Not on is it. RM should make it mandatory.
Last edited:
Soldato
How is that annoying as such? Your average house buyer simply wants to know how many bedrooms / reception rooms a house has. Listing a square footage is sort of meaningless cos you could have three houses with the same footage but it translates as a two, three and four bedroom house but the size of the rooms could make it unsuitable?
Because you simply use the min number of bedrooms field.
Room sizes are generally listed, so it's really not difficult to work out a total square foot. Most floorpans have it on there, but it's not searchable. That's what frustrates me, the information is there, just not easily searchable. Photos can be really, really deceiving, the floorplan generally tells all.
Just playing devil's advocate but it's open to interpretation, does it include the thickness of the walls, the stairs etc?
Or should it just be a case of adding up the room sizes?