FTB - Advice

DFCClarky

Hi,

They have reduced the price recently which is what has enabled me to look at it - before, it wasn't really in my bracket so I didn't look into it.

I'm in Dartford.

DFCClarky

I have offered 87.5k to start with and then will see what happens after that. Thanks for all of your help, and I may be back for more!!!

princessamy86

Good luck keep us posted!!

DFCClarky

Well, I had a call from the agents this evening rejecting the bid, saying that it would need to be above the price quoted. I got the feeling on the viewing that the people may not have necessarily been interested in selling, and while the floor is still open for me to make another bid, I think this could still be the case (they're putting decking in the garden, and re-decorating including new carpets throughout!!!).

Back to the drawing board.

Want-a-house

Are you aware that, if you install the Firefox browser (free) then install the Property Bee plug-in (also free) you can access the price reduction history of all properties on Rightmove? This can give a good indication of the sellers seriousness. Also some websites will tell you the last selling price of any pre-owned house sold since 2000 (eg houseprices.co.uk) for free. All this can help you gauge what is a reasonable price to offer.

NB that flats have fallen in price in most areas more than other types of housing due to over supply.

BTW many flats are leasehold, rather than freehold, check how long the lease has left to run.

DFCClarky

Want-a-house wrote: »

Are you aware that, if you install the Firefox browser (free) then install the Property Bee plug-in (also free) you can access the price reduction history of all properties on Rightmove? This can give a good indication of the sellers seriousness. Also some websites will tell you the last selling price of any pre-owned house sold since 2000 (eg houseprices.co.uk) for free. All this can help you gauge what is a reasonable price to offer.

NB that flats have fallen in price in most areas more than other types of housing due to over supply.

BTW many flats are leasehold, rather than freehold, check how long the lease has left to run.

Hi,

Thanks for your help. I've got all of those things set up on my PC at home, and have checked leaseholds etc. :T

Richard_Webster

BTW many flats are leasehold, rather than freehold, check how long the lease has left to run.

Certainly check the length of the lease - ideally it shouldn't get under 82 years when you want to sell it.

As to "many flats are leasehold..." Virtually all flats are leasehold. If each flat in a block has its own freehold title they will all be unmortgageable!

MrsMillar

I was interested in the terminology "offers in excess of". There is a place that we're looking at, and we had just assumed that we would need to offer over the price (even if by £1!) for there to be a chance of it being accepted. However, from the comments above I understand that it's worth offering less in the first instance.....?

Running_Horse

Offer what you think it's worth to you. But if you have started low, be prepared to negotiate, and try to tease from the EA what offer might be accepted.

DFCClarky

Update on this one:

The original seller seems to be a timewaster - they've given the EA differing reasons why they want to move compared to us, and even the EA wasn't too sure what their intentions were. Instead, I viewed another flat on Friday which was superb - a repo, but it was in really good condition. I've been told that there's a low offer in which hasn't been accepted, but the price is £89,995. I was going to offer £82,500 for it but that will be too low (the EA has stated this, and I suppose for a 2 bedroom flat, it does seem cheeky).

I will be putting an offer in of about £84,000 in about half an hour!!!

Wish me luck.