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Price over my budget
booey_2
Posts: 44 Forumite
I have £75,000 maximum (mortgage and deposit) to buy a place. I am a first time buyer.
I have seen a flat advertised on the internet I like the look of but it's priced at £79,950. The ad says the property is owned by a member of the estate agents staff.
Is it worth my while going for a viewing?
Everyone keeps telling me to look at the price a place is on offer for then knock 5% off the asking price. Is that true?
Happy Valentine's Day everyone!
I have seen a flat advertised on the internet I like the look of but it's priced at £79,950. The ad says the property is owned by a member of the estate agents staff.
Is it worth my while going for a viewing?
Everyone keeps telling me to look at the price a place is on offer for then knock 5% off the asking price. Is that true?
Happy Valentine's Day everyone!
0
Comments
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knock 10 % off
Save save save!!0 -
Offer £2000.00 below your max so that you have some bargaining power.
Never know you might get it for £73,000.and have some money for furnishings, removals, Etc.
Always try to keep a grand back for incidentals. You may well need it."Unhappiness is not knowing what we want, and killing ourselves to get it."Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))Women and cats will do as they please, and men and dogs should relax and get used to the idea.0 -
If you make an offer, the worst that can happen is that they say no. An offer at 5% under the asking price, although reasonable in what is a slow market in some areas, may not be accepted on such a low price property though.
My friend just bought a house up for sale by a member of the estate agents staff & he just wouldn't budge on price. As my friend really wanted the house she had to offer the full asking price.
The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
you never know the vendors position. an asking price is all about expectations and the longer a property is on the market the more flexible expectations and prices become.
I would suggest you start at £68k. Typically properties are selling for 93% of asking price so that is around £74,353, give or take a couple of %."enough is a feast"...old Buddist proverb0 -
There is no harm in trying!0
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Try a lowish offer and then walk away and let them stew. Obviouslly, the lower then the more likely that they'll say no.
Check out yourpropertyfinder.co.uk etc for past sale prices.Happy chappy0 -
Thank you all so much for your advice.
I rang them today to arrange a viewing and was told the property was in need of modernisation and two sales had already fallen through because of this.
I said it doesn't say anything about needing modernisation in the ad and he replied "ummmmmmmmmmmmmmm......"
He sounded like he was being cagey about something. I didn't question further.
Back hunting I go!0
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