A house we love is on the market at £289,000 and we are going to view it today. It's been on the market for six months and has dropped in price from £299,00 recently. The EA has told us the owners are motivated because they've found a place they want to buy. However they also say another couple is booked in for a second viewing today. Of course we don't know whether there is any truth behind the second viewing couple or if its just a tactic to make us rush?!
We will offer £250k fully expecting it to be rejected. If/when it is, we will consider going slightly above the stamp duty threshold. We only have £30k down payment due to losing money on our last house sale. But we have a good income (70k combined and I have a review panel in May where I am very likely to be promoted raising out income to £80k combined). We have a mortgage agreed in principle for £250,000. We also have a relocation package from work that will pay for the survey, solicitors, moving costs etc but not the stamp duty.
I'm thinking the highest we can possibly go is £272,000 and get the stamp duty added to the mortgage. Does that sound like a crazy plan? We don't have any DCs and our car is paid for. We have overdraft facilities of 5k in case of emergencies. And we absolutely love the house.
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How do we know our maximum we can offer?
65 replies
NotJustACigar · 09/03/2014 08:15
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