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How much to offer on £285K house?

13

Comments

  • GemQuin
    GemQuin Posts: 47 Forumite
    I know it seems ridiculously expensive but honestly I have been looking around for months and all the ones I like are around the £275K mark so although it seems ludicrous to pay this much that's what I have been finding during my property searches. The 2 beds I looked at were all well over £300K. It is a lovely Victorian conversion with a massive garden and kitchen??
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    Do you have to live in that area? Is there an area next to this which would give you a lot more for your money?
  • ncooper1974
    ncooper1974 Posts: 291 Forumite
    lethal0r wrote: »
    just seen mitchaa's post. I believe we are back to late 2005 prices according to nationwide / halifax.

    Can't remember what I was watching the other day, but when halifax and nationwide give their figures, its only based on a small % of the market - i thought it actually covered the entire market.
    I seem to recall that halifax only has an interest in 20% of the market, and nationwide about 7%. That would mean their figures only cover 27% of the market. I realise the figures quoated are 'average' figures, but sure for it to be an average it should be on 100% of the market, and not just a quarter of it?
  • ncooper1974
    ncooper1974 Posts: 291 Forumite
    GemQuin wrote: »
    Can I 'offend' them if I put in too low a starting offer so that they won't negotitate any more?

    We saw a house beginning of Oct08 and made an offer. We understand from the EA that the vendor was very offended. A week later we increased in by £7k (about 1.5%). They were still offended. We didn't increase anymore.
    A month later, they came back and accepted.
    As we had to wait a month for them to accept, we pushed our price down another £2k as we felt the market had moved in that time. They were offended again, but still accepted.

    Dont worry about offending anyone with your offers! We ended up buying a house for £20k less than we had budgeted for.
  • GemQuin
    GemQuin Posts: 47 Forumite
    Thanks for all the advice guys. Much appreciated! x
  • chartreuse_2
    chartreuse_2 Posts: 287 Forumite
    hethmar wrote: »
    Blimey, work in a swarm, love it. Ill have a look. Many thanks for that. I was finding it a bit pointless to be honest if it only showed the price Id originally accessed. :)
    hethmar: I looked it up. Click on "options" then tick "Work in a Bee". :)
  • TrickyDicky
    TrickyDicky Posts: 666 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    The trick when negotiating is always be prepared to walk away, and make sure the buyer knows it. If they realise you're not, they have you over a barrel and can keep rejecting all your offers till they get the one they want. Thats not how negotiation should work.
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    chartreuse wrote: »
    hethmar: I looked it up. Click on "options" then tick "Work in a Bee". :)

    I think your "work in a swarm" is SO much nicer :)
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    ncooper1974 wrote: »
    . That would mean their figures only cover 27% of the market. I realise the figures quoated are 'average' figures, but sure for it to be an average it should be on 100% of the market, and not just a quarter of it?

    27% is an incredibly large sample in statistical terms, though.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • ncooper1974
    ncooper1974 Posts: 291 Forumite
    neverdespairgirl wrote: »
    27% is an incredibly large sample in statistical terms, though.
    You think so? I dont. Althought I stand to be corrected by someone in the know...
This discussion has been closed.
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