Offer Price

Nenen

This site will even tell you by road:
http://www.nethouseprices.com/index.php?con=Search-Sold-House-Prices

Sir_Humphrey

This is a secondhand anecdote so treat it as such. A friend of a friend who works as an investment banker offered and had accepted a £320k offer on a flat asking £400k (somewhere in Central London). He ended up pulling out owing to job insecurity. What does that say about the market at the moment? EDIT: Zoopla now has LR data back to the mid-1990s now - well worth looking at for flats in more marginal areas!

27col

What ever factors you take into account when deciding what to offer, the thought of insulting the vendor should not be one of them. If they do not like your offer then they will refuse to accept it. All offer prices are a try-on, surely. The degree of the try-on is determined by the size of the offer. The fact that someone is taking a big hit on the price, just means that they paid over the odds when they bought it. What it cost two years ago has absolutely no bearing on what it is worth now.

huntersc

pinkshoes wrote: »

Because it might be priced to sell, so they may consider £155k to be taking the p*ss, and refuse to consider any other offers on the basis that they're not serious buyers, and might gazunder the day before exchange or something.

The 2004 prices aren't for everywhere. It really depends on LOCATION LOCATION LOCATION...

If they bought for £147k over 4 years ago, then I doubt they'd accept £155k. Perhaps try £165k, and be willing to go up to £175k.

'Priced to sell'? that sounds like estate agent speak to me. When did they price it? Yesterday? Well then the price is already out of date. Take £155k because in 6 months you'll be lucky to see £140k.

If they consider my offer to be taking the p*ss then so what? Why do I care about their feelings? Reject it and I'll find somewhere else for my money.

As for location, location location, more EA speak. I live in one of the most exclusive parts of the country, prices here are down just as much as anywhere else, more so in fact. Location will cost you more and at the height of the bubble it increased more rapidly but at the same time prices are dropping like a brick because of the over inflation of the last few years.

As buyers let's stop pampering these people with ridiculous notions of what their houses are worth. It's on the market, it's not sold, it's worth far less than you think.