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How much should I offer

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nudnik
nudnik Posts: 19 Forumite
in House buying, renting & selling
I looked at a 3 bed flat in north London today that is on the market for 230k. It was bought in 1999 for 95k. It is an ex-council flat in a block of 8 flats. I just looked it up on a site called Zoopla who estimate its worth at 202k. The last time a flat in this block sold, was in 2007 (at the height of the boom) for 215k. It is very 60s but with new double-glazed windows but will need quite a bit of work done on repairing the ceilings and some modernisation. What would be a reasonable offer?

Comments

  • poppysarah
    poppysarah Posts: 11,522 Forumite
    The land registry reckons prices are at Sept 2004 levels. So have a look on houseprices.co.uk and see what it was selling for then
  • bob79
    bob79 Posts: 166 Forumite
    Is the flat that sold in 2007 identical? If so, then run away from this property; there is not point looking at a property that has an asking price above peak price.
  • geoffky
    geoffky Posts: 6,835 Forumite
    Bob Is Right
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • feeta
    feeta Posts: 54 Forumite
    Although if you really like it, there would be no harm in putting a cheeky offer in. Just offer what you think it's worth.

    The worst that could happen is they'll say no. And if you're offer was a sensible one, they'll be the ones loosing out!
  • Squish_21
    Squish_21 Posts: 676 Forumite
    Offer cheekily low and negotiate. Zoopla is VERY unreliable/inaccurate.
    Squish
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