Buying a home

Chocolatelovinggran

How long has it been on the market? This may give you a clue as to the situation.
Some houses languish for a long time because of the intransigence of the seller.

Agree with this.
Sometimes more than a year.

Nougat

Market value is what someone will pay for something they want. Do you want it?

Despite what your husband says about greedy people, he is still prepared to pay £75,000 above what you think it is worth so what’s another £25,000? If you intend to to make it your home for a long period and aren’t in it for a quick profit what does it matter? It’s the price of a small car. The car will depreciate in value. The house will appeciate.

I’m guessing that something (allegedly) overpriced by £100,000 is an expensive house anyway. You can’t hide an extra £100,000 in a house worth only £250,000 or even £500,000.

I agree with some of this and not other bits!

1st paragraph - yes

I dont agree with "The house will appreciate".
Yes it might. Or there could be a crash of say 20%, and it will take 5 years or more to get back to the "price" again.
Lots of areas slow at the moment.

I wouldn’t pay £100,000 over the asking price for any house, however much I could afford and how much I liked it, because it’s just throwing a large amount your money away. Sorry Bunnny, I’m with your husband on that.

Neither would I.

It's only worth what someone is prepared to pay for it, of course, but in the present sluggish climate, the vendors are being over-ambitious and may accept a far lower offer if they are keen to sell.

Would it be an idea to ask two or three estate agents what their estimated valuation might be?

nanna8

The housing market here is totally totally awful for buyers and if a buyer walked away they wouldn’t bat an eyelid. Probably like the UK we have 10 buyers for every property and they are going way,way above their value. A nightmare when we are trying to help our grandson get his first property. If you want it you will possibly have to pay asking price or even more these days.

No, that’s not what it’s like in the UK nanna8, the market is still fairly sluggish. There definitely aren’t buyers queueing up.

I wouldn’t pay £100,000 over the asking price for any house, however much I could afford and how much I liked it, because it’s just throwing a large amount your money away. Sorry Bunnny, I’m with your husband on that.

How long has it been on the market? This may give you a clue as to the situation.
Some houses languish for a long time because of the intransigence of the seller.

Thankyou I’ll show the replies to the hubby don’t think he’ll budge though

Market value is what someone will pay for something they want. Do you want it?

Despite what your husband says about greedy people, he is still prepared to pay £75,000 above what you think it is worth so what’s another £25,000? If you intend to to make it your home for a long period and aren’t in it for a quick profit what does it matter? It’s the price of a small car. The car will depreciate in value. The house will appeciate.

I’m guessing that something (allegedly) overpriced by £100,000 is an expensive house anyway. You can’t hide an extra £100,000 in a house worth only £250,000 or even £500,000.

If you can afford it and really want it and it fulfills all your requirements offer the full price. You'll always regret it if you don't and can't find anywhere better.

The housing market here is totally totally awful for buyers and if a buyer walked away they wouldn’t bat an eyelid. Probably like the UK we have 10 buyers for every property and they are going way,way above their value. A nightmare when we are trying to help our grandson get his first property. If you want it you will possibly have to pay asking price or even more these days.

If You want it and can afford it Pay the Price they are Asking The Market Value is only the Opponion Of the Majority If It makes you happy Your Husband should Buy it for you If I could afford it and MY wife wanted it No Contest Change your Husband

Walk away, call their bluff. You're in a prime position having sold your house. Don't let your heart overrule your husband's head.

Walk away!

Or at least give the sellers a date to accept your offer.
Presumably it's priced above the valuation and home report.

There is a house thread where there are knowledgeable people if you want to write this on there.