Asking Prices and your offers.

typeractive

Hi all,

I have been looking at how much people have offered on properties and how successful their offers have been. We would all like to gain the best available property for the cheapest outlay – hence our moneysaving ethic (and I by no means wish to annoy people that are trying to sell their properties in difficult times, though I guess such info could be useful to yourselves at the same time).

I thought it might be handy for people to post the basics of their ‘deals’ i.e

Property Details: 4 bed terraced, with garden and garage, need of total renovation (around 25k).
Asking price: £75k
Your offer: £60k (80%)
Accepted: Yes / No
Date: April 09

You may wish to add extra details, such as: time the property has been on market / basic location etc.

The property I’m looking at has been on the market since September 08. Incidentally I have not made my offer yet, and I am a FTB.


The reason I am keen to find out what other people have been upto is to reassure myself of what offers could be made and to gain a more general picture of the property market from one easy spot. I am sure others would also benefit from such findings.

Cheers.:beer:

QTPie

I tried to do something similar (i.e. "actual selling prices" ) - http://forums.moneysavingexpert.com/showthread.html?t=1570665

Tried to get it made a sticky (since I think it is very useful - there is a HUGE lag with things getting onto the Land Registry...)

QT

googler

It won't be relevant unless all those who post these details are in the same part of the country as you.

Just put your offer in. If it's accepted, you proceed. If it's declined, you decide whether or not to increase it or look for something else.

WillowCat

Property Details: 3 bed detached, 1980's build, small development. Not touched since then, needs redecoration, kitchen, bathroom, carpets, new boiler etc. Windows starting to look dodgy.
Asking price: £220,000
Original Asking Price £240,000
Your offer: £188,500
Accepted: No
Date: February 09
On Market Since: July 2007
Location: Devon/Cornwall borders (inland)

Offer based on 95% of what the asking price should have been if the original £240k had been reduced down by the amount of market conditions, AND, this actually correlated exactly with the current owners purchase price indexed up to Q4 2008.

No counter offer was made so I left it.......will be starting to look at more houses in May.

themaccas

Property Details: 4 Bed detached barn style house
Asking price: £399,999
Original Asking Price £540,000
Your offer: £370,000
Accepted: No
Date: March 08
On Market Since: July 2007
Location: South

Raised offer to £380,000 accepted after 24 hours. Would have walked away if it had not been accepted. We did very well out of the HPI and had a very large deposit to purchase the house. The sellers had already moved out and bought another house although family had stepped in to give them the money and at that time there was no desperation to sell.

Been in nearly and a year and still loving the house and location!

charliee_3

Property Details: 2 bed end of terrace, 1970's estate type house, large garden, integrated garage, decor ok, new bathroom and newish heating. possible to extend.
Asking price: £145k-£155k
Original Asking Price n/a
Your offer: £140 (no) £142.5 (no) £145 (no) £147 withdrawn, then went back a few weeks later with £146 including shed
Accepted: Yes
Date: Mar 09
On Market Since: Mar 09 (only a few weeks)
Location: North Essex

homebuyer survey then valued it at only £138k, we renegotiated to meet them half way at £142 which was accepted. we probably would have pulled out if price hadnt been reduced as there are a couple of jobs need doing too.

becky2011

Property Details: 5 bed barn conversion, built 1850 converted 2006. 390sqm, 4 reception, 3 bath, double garage and 4 acres.
Asking price: £550,000
Original Asking Price £595,000
Your offer: £475,000
Accepted: Yes
Date: January 09
On Market Since: March 2007
Location: North East

The vendors had 2 previous sales fall through, one was for the original asking price in Q4 2007.

typeractive

Thanks Becky - the property I am looking at is currently on it's second accepted offer. If this also falls through (hopefully in my favour) then I guess I will be in a similar position. Though this one has not been on the market as long as yours.

becky2011 wrote: »

The vendors had 2 previous sales fall through, one was for the original asking price in Q4 2007.

May I ask what Q4 means? A few people in this thread have said that.

p.s. if I don't end up buying a house I'll be moving in with you with all those rooms, plus you're in the North East - handy! :rotfl:

Beardmidget

typeractive wrote: »

May I ask what Q4 means? A few people in this thread have said that.

Q4 simply means the fourth quarter of the year so:

Q1= Jan-March
Q2= April-June
Q3= July-September
Q4= October-December

Cheers

stolt

heres mine, been quite a journey as we originally looked at the house in 2007 when we sold ours but it was way out of our price range back then. Re-offered 430k in 2008 and it was turned down when the price had dropped to 450k. Finally got the house at £418600 because i managed to get the EA to reduce their fees!!!


Offer Date: 27th Feb 2009
Area: Essex
Asking Price: £450k
Offer Price: £418,600k
Exchange Date: 16th April
Completion Date: 6th May 2009
On Market Since: July 2007
Original Asking Price: £475k
Short description: 5 bedroom, 2 bathroom, 4 reception room, double garage, house originally built 1998
Same properties were selling in Summer Spring 2007 for: £460k

pizzagirl

What about all the vendors who increase their asking prices in expectation of having to reduce them at a later stage. Asking prices are fairly irrelevant to be fair.