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FTB what should my starting price be?
loquis
Posts: 3 Newbie
Hi
Looking for a bit advice on what my first price offer should be.
Currently renting a detached house, the landlord had the property for sale when I started renting it and is open to selling it, but its not on the market.
When the house was bought in '05, it was for 140,000. It was priced at 195,000 last november. Now I know what I think the property is worth (under stamp duty), but not sure what my opening offer should be, as I dont want the landlord to think i'm taking the mickey.
Should I go
very low, start at 150,000.
slightly lower than want i think its worth, 170,000
or somewhere in the middle.
Also as this would be a conversation with the landlord, is it simply a case of ringing him up and going "i think you house is worth x, fancy selling it to me" or is there a formal process I have to go through.
tia, cheers
Loquis
Looking for a bit advice on what my first price offer should be.
Currently renting a detached house, the landlord had the property for sale when I started renting it and is open to selling it, but its not on the market.
When the house was bought in '05, it was for 140,000. It was priced at 195,000 last november. Now I know what I think the property is worth (under stamp duty), but not sure what my opening offer should be, as I dont want the landlord to think i'm taking the mickey.
Should I go
very low, start at 150,000.
slightly lower than want i think its worth, 170,000
or somewhere in the middle.
Also as this would be a conversation with the landlord, is it simply a case of ringing him up and going "i think you house is worth x, fancy selling it to me" or is there a formal process I have to go through.
tia, cheers
Loquis
0
Comments
-
I wouldnt mention a figure, I would firstly ring him up and see if he is interested in selling, then if he is asking him what sort of figure he would be after and then go from there.Pawpurrs x
0 -
20% off the peak price is about right in our area. So, for £175k I'd offer £140k. You can't get away from the fact that it's worth what you're willing to pay for it and what he's willing to sell it for though.
You need solicitors of course, but no estate agent would have to take a cut.0
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