Estimated costs used house

I just spoke with the real estate agent and she told me that the house seller rejected another offer from a different interested party that was 50,000 euros higher as "immoral". I told her that I would pay even less and explained the individual renovation costs to her. She probably knows that, but the community of heirs only thinks about money. Hopefully, they will keep dreaming for a while longer, unless someone buys the wreck at that price, which unfortunately happens frequently here, that it goes for well above value in a good location.

Hello Lilly,

that doesn't have to be your problem. Inheritance communities are generally difficult; there only needs to be one owner among them who doesn't need the money or has surreal value expectations, who will keep the price high until nothing works anymore or the price is only lowered after years. In the meantime, the house just continues to mold.

But if you are basically seriously interested in the property, I would arrange a viewing appointment with your builder. If he roughly comes to the same costs/values, then the deal is done, or you have to pay a high personal premium—which is of course entirely up to you.

Afterwards, submit your offer anyway and let it be clear that you (also) are not in a hurry. If you are lucky, something might happen again in a few months; if not: no problem. Just keep searching in parallel.

Best regards
Dirk Grafe

Hello,

I just spoke with the real estate agent and she told me that the house seller has rejected another offer from a different interested party over 50,000 euros as "immoral." I told her that I would pay even less and explained the individual renovation costs to her. She probably knows that, but the community of heirs only thinks about money. Hopefully, they will continue to dream about that for a while longer unless someone buys the wreck at that price, which unfortunately happens here often, that a property goes for well above its value in a good location.

What D. Grafe wrote to you is all correct, but ultimately the market decides on supply and demand.

Therefore, the question here whether you should offer EUR 48,000 yes/no doesn't help you at all. If you want the house, you have to agree to the price ... you might be able to negotiate in a moderate range or take a step back; but then with full consequence.

The market currently reacts so against the norm that even the last wrecks can be sold for multiples of their value.

Rhine regards

Hello construction expert,

that's true, but even with 70,000 euros I can't manage the renovation. And there is a limit somewhere. And since the sellers haven't waited long enough, it's still too much for me. The real estate agent will get back to me if they decide otherwise. Then I can better look for a newer property where I don't have to do so much. It's a shame because the layout was good and sufficient for the two of us. We'll wait and see, as we say here ;)

Best regards HL