How much to offer?

carlsberggal

why do people always talk about "going to their limit"?




I know why really but it never ceases to amaze me.

I would of thought everybody had a 'limit' or ceiling price or whatever you want to call it otherwise we would all be trying to mansions with our vast amounts of cash:rotfl:

nearlynew

carlsberggal wrote: »

why do people always talk about "going to their limit"?




I know why really but it never ceases to amaze me.

I would of thought everybody had a 'limit' or ceiling price or whatever you want to call it otherwise we would all be trying to mansions with our vast amounts of cash:rotfl:

sorry, either you misunderstood or I didn't make it clear.

What I meant was - what is wrong with paying under your limit?

cuthbert_the_octopus

AAARRRRRGGGGGHHHHH VISTA has just deleted my reply.

I was looking to buy a 3 bed SD in Basingstoke in 2007, with a budget of 200k. I think that you can now get the same sort of house for 160k.

There is currently a shortage of property on the market in B'stoke, and lack of property is thus driving up the prices!

I now think that you can get a really nice 3bed SD for <175k.... sort of property that was 210-220k at the top of the market.

As for the strange garage thing, I have seen this in a number of houses, the owners convert most of the garage into a dining room and keep the garage front and use for storage - bikes, paint, bins etc etc

Zoe2006

It depends alot on the area, do some research on property snake etc to see how much prices are dropping. Locally, just as the recession was kicking off a house up for 250k that was on the market for about a year went for 150k, and at the current time, houses up for 120k are taking 80k, ones that aren't prepared to drop are not selling. A 6 bedroom house up for 160k last year is now up for 95k and still not selling. Things may be different in your area but I'd certainly look into it before putting an offer in, don't be afraid to be a bit cheeky, but don't go too far. It'll also depend on the buyers circumstances, check how long it's been on the market and search the price they paid for it, they may make a profit on a low offer.

wysiwyg78

After all that we didn't like it anyway! There was a horrible smell in the extension which smelt like the plaster hadn't yet dried. The estate agent wasn't sure when it was done and I was a bit wary as to why they would have gone to all the trouble of extending and then sell up. The garden was also much smaller than the photos suggested.

We're now looking at another house that is £200k so thinking of going in with £180k bid with £190k as our maximum. We'll see how we go!

slipp_digby

nearlynew wrote: »

Well the real world I live in tells me that house prices are too high because of loose lending to people paying over the odds for houses that they can't really afford.

If more people followed the type of advice I have given then we wouldn't be in this awful mess. I do not consider telling the OP to take on more debt than necessary in to be good financial advice.

Nice blatent attempt to derail the OPs thread. Against forum rules of course, but as your previous post are mostly fully of antagonism of people who disagree with your rather blinkered view not massively surprising.

No-one offered the OP any financial advise I can see, only points on negotiating.