Another what would you offer post?

cellardoor

Ok, this is another what would you offer post. Go easy on me! Its just its hard to gauge how much houses are really selling for as the EAs talk them up and the actual selling prices are 2 months behind on the net.

Were looking at a semi-detached 3 bed house with garage. It looks like the current owners bought it for 207,000 in May-2006 and are currently asking 205,000 down from 238,000 according to property snake.

Interestingly the EA seems to think it was originally on for 265 with another EA. Whether that is true or not I don't know but its been on the market 247 days. They also dropped the price 10k at the start of December and another 10k at the end of December so could be desperate to sell. Apparently they want to move to a neighbouring town.

The last time a similar property sold in the same street was Jul-2007 and it went for 199,950. The highest a similar property has sold for is 236,500 and that was in Jan-2007.

In the entire town (pop 35,000) 7 houses sold in Nov-2008. Only 1 of these was a semi and this sold for 175,000. This was however a different end of town and no idea what condition it was in.

So there it is. What do you think I should offer? We are first time buyers.

Premier_2

Let me start the bidding at £50k off. Can I hear anyone suggesting £50k off?

LilacPixie

without knowing the area its impossible to say. Offer what you are prepared and able to pay based on your own thoughts.

cellardoor

Well we finally had our offer accepted at 190K (originally offered 180K) and are very happy. To be honest there was a lot of to-ing and fro-ing and they wern't going to accept anything less than 200k (rejected us twice) but they were being messed around a bit on the one they wanted so made offers on others. As they are moving to the neighbouring town they wanted to get something like for like so now they've managed to do that it looks like the deal is on.

As far as I can make out, the one around the corner which was on with the same EA went for the same price and that one needed a lot of work.

Now gotta go back to our FA and get the mortgage sorted. The EA has told us they can't actually put a sold sign up until we get a solicitor sorted.

Squish_21

cellardoor wrote: »

Well we finally had our offer accepted at 190K (originally offered 180K) and are very happy. To be honest there was a lot of to-ing and fro-ing and they wern't going to accept anything less than 200k (rejected us twice) but they were being messed around a bit on the one they wanted so made offers on others. As they are moving to the neighbouring town they wanted to get something like for like so now they've managed to do that it looks like the deal is on.

As far as I can make out, the one around the corner which was on with the same EA went for the same price and that one needed a lot of work.

Now gotta go back to our FA and get the mortgage sorted. The EA has told us they can't actually put a sold sign up until we get a solicitor sorted.

Kool. glad you got it at a price you are happy with!

todgers

We're currently waiting to complete after buying and selling in December.

Ours originally was on the market for 250K and we sold it for that in June 2008, unfortunately the chain collapsed and then the 'credit crunch' happened.

We then sold it again in december for 192K, and we bought another house at 250K, the house we bought was originally on the market for 353K.

I think anyone serious about moving will consider any offer you submit providing your not taking the mickey. I can only comment for myself but with house prices predicted to keep falling we wanted to move to different school catchment area and took the lesser offer as we really wanted to move. Plus as our house had more than doubled in price over the last few years we were not really losing anything as the money is not real, plus something is only worth what someone else is willing to pay for it.