Am I Dreaming At 100k Advice Please

drex_123

Hi new here,great forum i was hopeing for some advice please. There is an EX LA i would love in Glasgow FP 125,000 been on for only 8 wks needs around 10k spent on it and is formerly two EX LA 3 bedroom flats converted into one.Not viewed don't want to fall in love with it or waste vendors time. I am lucky enough to have £100,000 in cash.[mortgage free before sold would like to remain so!!]The markets stagnant here but prices haven't fallen so sharply. My question is do you think I'm dreaming to think i might get it for 100k would i be laughed out of EA office.The house is unique to this area & may not appeal to a lot of the market. Should i just forget this house and concentrate on what i can afford any advice gratefully accepted.

[vendors would be making around 50% profit at 100k]

Any advice on how to approach EA, should i view property first? Really confused don't know what to do don't know whether to wait and see how low prices go, ok where living at moment but would like to get family back into own home. Thanks in advance.

tattoed_bum

hi ,is a fixed price usually just that in scotland ,i havent lived there for a while but as far as i was aware that the fixed price meant that was the lowest price the vendor would accept ,

Premier_2

I do think you're in dream land!

You're thinking of spending £100k on something you've not even seen? :eek:
Wake up & smell the coffee!

As tattoed bum says, the owner is offering it at £125k FP which means that is the price they will accept. If after viewing it you decide you want it, it shouldn't be too difficult to secure the extra £25k with the deposit you claim to have.

jamief

From what I've seen recently, fixed prices up here still go for the fixed price. I'd be surprised if they put it on at fixed price and then accepted 20% less.

hethmar

And you say £10k needed to be spent on it after purchase.

Doozergirl

I'd try viewing it before you kill yourself worrying about it

How do you know what it's worth if you haven't been inside?

GDB2222

If this property has been converted from two flats, it is likely to be much were expensive than the neighbouring properties. Is that what has happened? if so, it will always be difficult to sell, as a particular road or neighbourhood has a ceiling value.

Wickedkitten

**** it, go in and have a look, get a survey done, and if you still want it, go to the estate agent and tell them you will offer 100k cash if the vendor completes within a month.

The worst that can happen is they say no.

Lynn11

Fixed prices in scotland tend to go for this unless they decide to drop the price. Scotland prices tend to not drop too much compared to other areas in the uk but I think you need to view the property first before you decide to buy or not.

drex_123

Thanks for all replies so far. I wouldn't put offer in before viewing it, but i know the general lay out and what needs done to it.I don't want to waste vendors time on something i couldn't afford. Was just wondering what the general opinion was on going in so much below fixed price.

jamief

Also, a small point, but depending on when the property was put on the market, you might not need a survey due to the HIP.