FTB & New Build

SquatNow

lonestar1 wrote: »

The first link isnt too great an area and the second is just of blackpool airports runway.

From what everyone says I think i may try 80k and go upto 90 tops

Thanks for the advice

In 2 years time you'll get a 5 bed detached house with stable and 10 acres of land for that!

lonestar1

I never said I was going for the 75 25 deal I dont even know if they offer it just that it may help. Obviously the price has to be right first and foremost

GDB2222

lonestar1 wrote: »

I never said I was going for the 75 25 deal I dont even know if they offer it just that it may help. Obviously the price has to be right first and foremost

That seems a good approach. Just bear in mind that prices have dropped by 6% nationally in the last 3 months, and there are no obvious signs of that fall bottoming out soon. So, if you can wait, why don't you?

lonestar1

Of course I can wait - thats my main bargaining chip. I can offer what I think its worth and walk away if they want more (Thats why I was after advice in my OP of how much to offer)

GDB2222

You've lost me. You're going to offer the sellers what you think it's worth now, or what you think it will be worth in say 3 years time, at the bottom of the slump?

Troubled_Joe

lonestar1 wrote: »

Yes Im nearby , You have any links for Queens Manor ?

Edit

Found a link but says prices from 203k thats a lot for a 2 bed place I couldnt afford that what sort of prices they asking ?

I looked round when they were at that price and the last call I got from them offered £160k.

I've got a pal who's been told he can have one for £150k.

Troubled_Joe

lynzpower wrote: »

how about nothing

I would say these 75% deals are VERY RISKY. there have been plenty of posts on these, and I would avoid like plague. Seriously. Search for 75%^ on this forum you will find plenty of moneysaving replies.

Why NB? Im looking in the same postcode, and yes. it might not be quite as nice, I dont know Lytham THAT well have visited a few times, 2 bed flat on repo for 65 http://www.rightmove.co.uk/viewdetails-22262906.rsp?pa_n=2&tr_t=buy

quite nice one bed for 74950 ( bet you could get a mbit more off that too ) http://www.rightmove.co.uk/viewdetails-18917494.rsp?pa_n=2&tr_t=buy

What you ar eproposing to buy is grossly overvalued, and I would not recommend buying.

I als agree with the other posters who talk of mothballed new builds, ploease read around the board, there are plenty of hearts breaking over this happening to them after putting deps down .

I don't disagree with anything you've said but neither of those flats are in nice areas (and I'm putting that diplomatically).

lonestar1

GDB2222 wrote: »

You've lost me. You're going to offer the sellers what you think it's worth now, or what you think it will be worth in say 3 years time, at the bottom of the slump?

I would be pretty stupid to pay the asking price. Im obviously factoring in the fact they will lose value (The reason for my post is to find out how much I should offer to insulate myself from that loss Im thinking 80-90k)

GDB2222

You need to find out what it's truly worth now, then knock 25% off to allow for the loss over the next 3 years. There is of course no way they will accept this, as they will want to sell now for current market price. So, if you buy it for current market price, you will be the one losing (I assume) 25% over the next 3 years. That's why I suggest not buying at the moment.