Show some balls. Bid 317.5K and gauge the reaction.
Thanks for the replies .... I'll stick in a bid and see what happens.
You upped too soon, slowly slowly... Remember if they are not in need of a sale they may not sell for a lot less than the asking.I put in a bid but was told that it wouldn't even be considered. Too low. I upped my bid and am now waiting to see what the vendors will say. Vendors live abroad so communication may be slow. Auctioneer obviously hasn't heard of email!
Vendors aren't in need of cash/a sale so they aren't inclined to negotiate (I'm led to believe). I'll know when the auctioneer gets back.
2)If you have a friend who's an engineer ask them to do a once over for you. They may charge you a small fee but it willl be worth it if you really want this house. Role out as many negatives as you can. I suggest 15 to 20. You can start the list with the garden size, room size, age of kitchen, distance to work/school etc. Then pop in as many as the engineer can give you. The more faults the better.
When the EA knows comparable houses in the area are cheaper and that there are faults (possibly structural which need repair) with the property, he/she might advise the vendor to accept less.
While a lot of these things would be nice to have, the vendor can't be expected to pay for the likes of redecoration, new appliances, new alarm system and cleaning drains. Large dog living next door?! Seriously.Good idea re list:
Ive done one up for a house im intrested in, nice house, nice area but it's totally rundown after being let for 5 yrs. 220K advertised price, im thinking of offering 170, spending 35-40 on renovations.
Things wrong with house: why 170k is fair!
1)Leaking bathroom upstairs, needs to be gutted and redone.
2)Leaking showerroom upstairs, needs to be gutted and redone.
3)Repair kitchen ceiling
4)Repair living room ceiling
5)Crack in bedroom window
6)Vermin problem, mousetraps noted
7)Large dog next door, generally unkept rear gardens to left
8)Insulation/energy rating suspect, need to insulate
9)No solar heating
10)Total new kitchen, plumbing, electrics, needs to be gutted and redone.
11)Total new kitchen appliances
12)Total new carpets and floors
13)Total new alarm system
14)Installation of living room stove
15)Redoing of utility room
16)Paint exterior???
17)Clean roof & drains???
18)No energy rating on house???
19)No side gate
20)No suitable back wall on either side.
21)Bank will only loan us what the house is worth, ie 170, they wont loan for to do it up. That money will have to be loaned from other sources.
While a lot of these things would be nice to have, the vendor can't be expected to pay for the likes of redecoration, new appliances, new alarm system and cleaning drains. Large dog living next door?! Seriously.
By all means try it - you're in a strong position in this market so it's worth a shot