need a steer on what to offer

corum_uk67

hi, not sure if posting url's is allowed or not but...
i'm viewing this property soon and wondered what serious offers some of you would make on it.
http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=1933981&agentid=14779
its in a nice location, per home office statistics on crime and deprivation, but i do think its way overpriced. They've had a couple of sales fall through already and are keen to sell apparently...

PropertyPro

It's worth speaking to the agent and ask that based on other accepted offers, would it be worth you offering say, £130,000 - and listen to the reaction.

Remember that estate agents are not allowed to disclose previous offers, but you will find that many will guide you in the right direction.

corum_uk67

Thanks. I've told the estate agent my max budget is 130k and she's thinks i'm in a pretty strong position. The vendors need to upsize ASAP. Personally I was thinking of an offer more in the region of 120k....

Incisor

corum_uk67 wrote: »

Thanks. I've told the estate agent my max budget is 130k and she's thinks i'm in a pretty strong position. .... Personally I was thinking of an offer more in the region of 120k....

Too late, you have told her your max budget!

corum_uk67

Is being straight with estate agents not a good idea then?

PropertyPro

corum_uk67 wrote: »

Is being straight with estate agents not a good idea then?

Afraid not. I won't place them all in the same bracket, but if they know you have a maximum price, they will try to get you to offer that figure.

However, if they think you are in a strong position at £130,000, then offer £120,000, then go up to £125,000 of you have to and mention to the agent that you have to cover the costs of moving house with the other £5,000.

Good luck.

hethmar

Id say that was amazing value. Good luck.

Bf109

corum_uk67 wrote: »

Is being straight with estate agents not a good idea then?

:rotfl:

Would you give a Nigerian your bank account number?

corum_uk67

Lol. Well being a first time buyer its a bit of a steep learning curve.
Still, even though they know my budget, i'll make it clear that any offer is based around what i percieve to be the true value of the property and if they dont like it then too bad.
Luckily estate agents aren't in the best position at the moment unfortunately for them and i would imagine they would be glad of any sale.

hethmar

Have you checked what prices the houses in that road have sold for?

corum_uk67

Yep. Although there is a mix of semi/terraced 2/3 bed houses in the street.
The very same house sold in March 2004 for 96k.
Another house sold in May 2007 for 150k although that may have been a three bed (this one has two).

There are also currently larger three bed terraced with garages (in a block) selling in Plympton (a couple of miles away but equally nice area) with asking prices of 135-139k, which is where i sort or arrived at what I would consider a good offer of 120k for a 2 bed. It is pretty well presented though with off street parking and a garage next to the house rather than in a block.