Putting offer for House

rajajang

I am thinking to buy a house in this credit crunch time. I am confuse to put offer to buy a house. please guide me.

If house is on market for £200000, and in 2003-04 price was in the same area was 130k, in 2006 house price was 200k as well. so what kind of offer shall i give to vendor.

shall i put offer for 148k (less 16% for 2008 and less 10% for 2009). or something else

thanks

amcluesent

The offer you make should be totally insulting to the seller, so outrageously low they will be left gasping, the women will be in tears. You will hate yourself for causing so much anguish.

Then you might avoid being wiped out.

rajajang

If the woman already bought house very cheap so i am sure she wont cry. she should face the fact that house prices are going down.

Darth_Marty

go to any number of websites which offer you details about what properties have sold for, see what the most expensive place has sold for and knock off 40k. Offer that.

besonders1

If the woman already bought house very cheap so i am sure she wont cry. she should face the fact that house prices are going down.

I can't see what the big deal is.The Chances are the offer you make would in most cases be better than what they originally paid for it. If they only paid £45K in 1995 then they would still make a profit if offers were made above it, (although don't do it in person as sellers seem to think their house is worth millions now and threaten to attack you or ban you from making other offers)

hethmar

It appears to me these people have already decided to put the house on at what they think is a reasonable price - 2006 level. You can try any price you want and see their reaction.

mrstinchcombe

hethmar wrote: »

It appears to me these people have already decided to put the house on at what they think is a reasonable price - 2006 level. You can try any price you want and see their reaction.

If they think 2006 levels are reasonable they have their head in the clouds.

besonders1

They'll be waiting a long time

1echidna

Just offer what you think is the correct price. Any emotional reaction on their part is their problem not yours.

hethmar

Im not saying 2006 is a good price, but they probably think it is low. So you can only offer what you believe is right and see what happens.

andrewmp

I bought a house for 15% less than it sold for in 2004 and I'm still banking on negative equity even though I put down a 20% deposit. The housing market is in the !!!!.