Advice needed - How low can I go?

matty17r

Hello All,

I am a FTB and thinking of buying with my girlfriend. We have in the region of £37,000 as a deposit. We have a potential house that we like in Ashford, Kent. The house we are interested in is a 3 bed semi called the Hazel. It is currently on the market for about £175,00. It is a new home being developed by Persimmon Homes Please see link below.

http://www.persimmonhomes.com/pricelist/330366.html

How low do you think that I could go in with an offer? I have seen that buyers are now only offering 80% of the asking price so this would be about £140,000. Is this too low? Also what is people's experiences of getting extras thrown in such as furnishings, carpets etc, would they still do this on an offer of ths amount?

Many thanks in advance for your help.

Matt

Cat695

Its been said many time on this board before

If the offer you put in doesn't embarress you then its to high

Make sure you're in a strong pos to buy (mortgage sorted etc) then walk in and put an offer in at 100k and say NOTHING else....if they don't spit their coffee out or cry your offer is still to high

Friend of mine has just bought a 4 bed new build (wiltshire) was on the market at 320k....he has just had 206k accepted

In june i will be putting in an offer on a house thats on for 190k on rightmove (though she said they would accept 175k) my offer will be 80k...though it will be cash...if they say no....so what.

Robert_Sterling_3

Cat695 wrote: »

In june i will be putting in an offer on a house thats on for 190k on rightmove (though she said they would accept 175k) my offer will be 80k...though it will be cash...if they say no....so what.

Slightly optimistic in my opinion. :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

shoe-gal_4

hi

just on the back of this message. we have seen a house (we are not in a chain) which is on the market at 'offers in the region of £199,995'. the house has been on the market since july 08 and was originally on at £224,995. in november they reduced it to £199,995.
the vendors recently moved out over the last few weeks and the house is sitting empty. we really like the house and would see ourselves living there over the next 5-10 years. however i dont want to pay over the odds.
i have looked on netprices.com and the average sale prices on the street is £180,000 (last house on the street sold in feb 2006 for £180k).

so what is a realistic offer to put in. the house does need new carpets, decorating and new kitchen, bathroom suite - but no structural changes. I was thinking £165k but my OH thinks this is too low and would be embarrassed to put in such an offer!

any advice would be much appreciated!
x

Swipe

shoe-gal wrote: »

so what is a realistic offer to put in. the house does need new carpets, decorating and new kitchen, bathroom suite - but no structural changes. I was thinking £165k but my OH thinks this is too low and would be embarrassed to put in such an offer!

any advice would be much appreciated!
x

I'd start at £160k. It's very rare for the first low offer to be accepted right away anyway so it never hurts to start as low as you dare

Strapped

A quick glance at Rightmove reveals 3 bed semis in Ashford from about £130k (or a bit lower if need work) so I personally would see the £140k you mention as absolute top price, and start lower, say £105k. Actually, I'd probably buy one of the £130k ones which are bigger.

Cat695

Robert_Sterling wrote: »

Slightly optimistic in my opinion. :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

Your probably right but its a new build so not hurting anyone and I'm sure the builder has made plenty of profit from all the others sold......but you don't ask you don't get as they say;)

Robert_Sterling_3

I understand where you are coming from Cat695.

Robert_Sterling_3

shoe-gal wrote: »

the house has been on the market since july 08. [A]
In november they reduced it to £199,995.
the vendors recently moved out. [C]
We like the house and would see ourselves living there over the next 5-10 years. [D]
i have looked on netprices.com and the average sale prices on the street is £180,000 (last house on the street sold in feb 2006 for £180k). [E]
x

[A] They need to sell as soon as possible. Good.
Shows they will drop the price because of Market Forces.
[C] They have moved out. More pressure on them to sell soon.
[D] Show them you are really interested but that you can at the right price.
[E] I like the net house prices web site. However what the house might have been worth 3 years ago is not much hellp as to what you should pay today.

The amount you should offer will depend on whether you are able to exchange contracts almost immediately and also agree a completion date. If you can do that you are in a strong position. In these circumstances I would guess that showing you are really interested by offering about £175,000 with a view to going up to £180,000 to clinch the deal.

hearts

Cat695 wrote: »

Its been said many time on this board before

If the offer you put in doesn't embarress you then its to high

Make sure you're in a strong pos to buy (mortgage sorted etc) then walk in and put an offer in at 100k and say NOTHING else....if they don't spit their coffee out or cry your offer is still to high

Friend of mine has just bought a 4 bed new build (wiltshire) was on the market at 320k....he has just had 206k accepted

In june i will be putting in an offer on a house thats on for 190k on rightmove (though she said they would accept 175k) my offer will be 80k...though it will be cash...if they say no....so what.

A waste of everybodys time.

stevetodd

hearts wrote: »

A waste of everybodys time.

Totally agree, I mean what would the expected rent produce as a yield on 80k? I bet at 125k it would produce such a good yield that would be snapped up at auction