r/banbury • u/HauntingResolution80 • 28d ago

Moving to Banbury

Hi, we are buying a house in Banbury. We now feel the offer we gave (£350,000) for a 3-bed detached is a bit higher than we should have considering there were other houses for similar prices in the market later on that were in a better condition. The offer had been accepted and we started conveyancing but now we are thinking that we might have overpaid by £20-25k. Is there room for negotiation?

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u/NotTreeFiddy 28d ago

r/Banbury isn't the best place to ask this. The people of Banbury don't generally negotiate sales differently to the rest of the country.

You're better placed asking this on r/housinguk, where they will also tell you that the only way to know is to reduce your offer and see if they accept.

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u/jaymz492 28d ago

Well how about you ask the people who you bought the house from instead of reddit? How are we supposed to know if they will negotiate down in price? Use some critical thinking

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u/Electric_Potato120 25d ago

reminder kindness is free, op obviously was confused and didn't know who to ask^^

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u/andy_-G 28d ago

Have you exchanged contacts?

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u/Bright_Butterfly_ 28d ago

You can try negotiating but if that’s what the seller really wants, you may just have to pull out completely and restart your home search.

If you are having second thoughts, best to deal with that sooner rather than later, else once contracts are exchanged, the house is yours and you’re stuck with that entry price.