FTB... What should I Offer?? Please Help .x.

LittleStar

Hi all,

I am a FTB and have seen a house that we quite like the look off ... it is on the market for £179,995 but being new to all this I dont have a clue what kinda offer we should go in at... the house also needs a far bit of work, new bathroom and kitchen...

As a kind of rule of thumb what percentage off the asking price should you usually offer??

I look forward to your replies .x.x.

pawpurrs

That question is difficult to answer and very much depends on how competively priced it is to begin with, if its well priced they may not accept much off, if its way over priced the offer could be a lot less
Whats the maximum you are prepared to pay for it, bearing all that in mind?
The fact it needs work is never here nor there, as that should allready be factored in to the asking price.

LittleStar

I think £165,000 may be the maximum that we would want to pay, we would possibly go up to £170,000 if they wasn't interested at all ... but there are a couple of other properties that we like which are a bit less so may be better going with them if they won't come down too much...

I am not too sure how competitively priced it is as there are very few similar ones in the neighbouring areas, but I think it might be quite reasonable ... I looked on nethouseprices and similar properties sold for £205,000 in may last year :-/ ... Its all very confusing lol .x.x.

pawpurrs

If they sold for 205,000 last year, then the maximunm falls would still bring it in at 170k so it does appear to reasonably priced then. But those houses could have required less work.
Why not try £160k and see if its laughed at, I guess you can allways increase, and if your level increases to a level they are willing to accept you will have a deal.