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Property bid being refused??


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Hi hubbers,

 

I would love your advice. 

 

Quick background - I own one BTL and own an apartment where I live. I'm ready to buy a small home with a garden and intend to put my apt up for rent.

 

After an extensive property search I have found a beautiful small detached period property in a nice area. Full of charm etc. The property was owned by an elderly lady who took great care of it but it does need modernisation. I hope to knock through the living room, dining room and kitchen into one and put patio doors in.  It is a 2bd plus one box room btw.

 

The property is on the market for £175K. A semidetached of same layout on the same street which has been modernised already, is on at £155K. My architect predicts a 30-40K pricetag for the modernisation. 

 

Given the modernisation required I had put on an offer of £125K which in hindsight was low but was refused and the bid was not registered.  I waited 1 wk before putting on a new bid of £135K. Again the offer was rejected and again the offer wasn't registered. I'm very frustrated.

 

Has anyone any advice on a POA going forward. The seller is pricing the property as if it is fully refurbed. I feel I am putting in a respectable bid. They will not give me any idea where they are prepared to meet me at.  Do I put my offer in writing and explain why I came to my decision? Does the email be forwarded to seller. Are they obliged to register my offer? 

 

I'm sure some of you guys have been in a similar position, I wonder how you navigated through it?

 

Thanks in advance. 

 

Eoin 

 

 

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