SunnySussex

Help help help,
We have had an offer on our house this morning £20k less than the asking price. Now we are in a dilema if to consider it or not ???????
They have nothing to sell and can move quickly on it. However it leaves us with not very much to come out to Canada with.

Help please...........

SS

killie

no no no they think they can do this because your going abroad, we had a few who thought that if they offered alot less that we were desprate ,but we stuck it out and put off the move by 3/4 months in the end but got our asking price.you need as much as you can move with as there is always unexpected costs and if the house has been valued at that why should they get the benifit an hour after they move in.

stick it out!!!! and good luck

ChattyTracy

Really difficult to know what to advise. We have had offer on ours but only couple of thousand below asking price so we were pleased. However had survey done yesterday and it is an old house so im sure there will be some renegotiation if they find anything!

Anyway everything has come at once for us. Just sent off passports, so visas here next week or so, friend has offered rented place to us for two months (we want to go end of June), so im not sleeping or eating frantically worrying the house sale will fall through and we won't be able to leave June.

If we could have sold earlier and not had this last mintue worry i would have done that and dropped price to have peace of mind.

When are you planning on going? Will you have to go into rented and incur those costs? Do you have your visas yet? You need to weight all these things up. Is there no room for negotiation with the price? What advice has your agent given you?

Sorry no much help really, think you just have to go with your gut instinct!

Good luck whatever you decide

Whereabouts in Sussex are you? We are in Hastings

Tracy

kellydrew

Hi

We will be putting our house up for sale very shortly.........if MMississauga pull their bloody fingers out ..............Anyway, £20,000 is a hell of a lot to drop.... Unless you're absolutely desperate to get over there's no way I'd drop it that much!!! Have you told these people that your immigrating? I suppose you've got to do what's best for you, but also consider that whatever you make on your house over here is for your future in Canada. If you have a substantial amount of equity in your house then that's different. We have a bit, but not enough to let it go for £20k less than the asking price.

Good luck

Drew

SunnySussex

Hi,
A bit more info on our situation.
We have got our visas and landed last summer. When we got back we put the place on the market. Have had about 2 viewings each week with a couple of interested sets of people but never any offers. So this is our first offer since its been on since the end of last summer.

We are leaving at the end of June regardless, if we have to rent it out or carry on with it up for sale.
When the offer was made, they said to the estate agent that this was the offer and they wouldn't negotiate on it.
We already have dropped the price recently by £8k so we could stand more of a chance in the spring selling time. So £20k below our new dropped price is really upsetting. Gut instinct says 'no' but we dont want to be left with accepting maybe even less later on down the line being even closer to our leaving time. If we have to keep it, then it will eat into our limited savings by having a place in the UK and Canada.

By the way, we are from Bognor (going to BC).

Bethan2

So hard to know what to advise, but if it was me, no way would I let them have it at such a huge drop below the asking price. Spring is almost here and things are bound to pick up (or so I keep on telling myself - we've also got ours on the market). We've only had two viewings in two months and then all of a sudden three this weekend! I suppose you've got to ask yourself whether your house is definitely worth the asking price and these people are just trying to profit from your situation, or whether there is any chance they could be right and your house is overpriced. Someone posted up a website the other day http://www.houseprices.co.uk where you can check what similar houses in your area are actually selling for. Good luck!

1066

Difficult one to answer, but if you are having viewings, but no offers, it usually means:-

1). the house is overpriced for the area
2). it has a lot of obvious flaws
3). it needs decorating
4). it needs modernising

Your place might be absolutely brilliant - obviously I have no idea about this - just thinking out loud.

Are houses in the immediate area selling well? If so, what are they selling for - and don't forget, this has nothing to do with the asking price.

If the area is static, sales-wise, it may be better to take the loss and sell, although the potential buyers sound like developers to me, and they will probably just take a quick profit from it by selling it on.

Good luck with whatever you decide

PS - Another option is to sell it through an auction. This is becoming increasingly popular, because your money is [basically] available as soon as the hammer falls. Check the WWW. for auction houses in the area, make a few phone calls, and you should have some idea of what you can sell for.

Craftybanshee

SS - Just to add my 2p's worth. I wouldn't drop my price by £20,000, even if my house needed just decorating (I don't know if your's does, so just saying).

If I were in your shoes I would go back to my EA and say I'd drop by £10,000 and no more - take it or leave it. I think that's a fair compromise. Otherwise, hang on for another buyer, spring is almost upon us

If we had our visas we'd be eager to go too

1066

I hear what you are saying, but never underestimate the value of a coat of paint.

They don't call it Magnificent Magnolia for nothing - and YES, it SHOULD BE MAGNOLIA!!

Would a coat of paint make a difference of £20,000? - most definitely, in the eyes of a lot of potential buyers.

Craftybanshee

I agree with you 1066 re. painting your home, but I don't know the state of the O.P.'s house? I can sympathise with the O.P.'s dilemma, but when we come to sell no way am I telling our EA that we are emigrating 'cos I don't trust them one bit. As soon as they know that they'll be telling potential buyers our plans so they can knock us down 'cos they think we'll be desperate to go. We will be moving to be 'closer to our childrens' school and will be renting for a while'

1066

Yep, you are 100% correct.

I hope everything works out for you and yours - it should be starting to get a bit warmer over there now!

Craftybanshee

Thanks 1066, and I hope all goes well for you too.

We were over in Calgary around this time last year. Lots of snow and -18 degrees some days. We thoroughly enjoyed a lovely week in the city

CalgaryBlade

It might depend on where you are moving to. If it's to one of the property "hot spots"in Canada, then you might end up paying an extra $40,000 while waiting for a decent offer on your house in the UK.

dingbat

BC housing is expensive, you are going to need every penny. I don't know where you are headed precisely, but prices here have increased so much that the cost differential between the Lower Mainland and the UK is neglible now. Having said that, I know Bognor well (very well) and I wonder if the offer isn't actually reasonable? I know prices have rocketed since I lived in Blighty. I was advised very recently (see another thread) to only offer a similar amount below asking price. If they have no chain, I would grab and run.

shelly1

We dropped the price of our house 15K for a quick sale.

We really needed that extra money once we we're in Canada because we didn't have a great deal to start with

If I'd have known then what i know now I'd have waited for nearer the asking price that $30.000 would have gone a long way in the first months