FTB Considering what price to go in at ?

redsclubbedup

Hi Guys,

Myself and my girlfriend are really interested in a property we have seen, but at present it is slightly out of our initial budget, but we feel it would be a long term home, so are considering paying the extra 20K

At present the house is on the market at 158000

I have looked at a number of the site recommended and have found the following - I was hoping that someone a bit more savvy than ourselves could give us an idea of what to go in at / an indication of the properties true worth.

I cant find price details of the exact house, but the one 2 doors down (in the same terrace) is currently estimated at £ 150,200 by MOUSEPRICE - having sold in 2000 for £67,500

However according to LAND REGISTRY data a property that sold for £64,500 in 2000 in the area would now be selling for £112,184

PROPERTY PRICE gave the following:

Average Valuation: £170,000.00
Upper Valuation: £200,000.00
Lower Valuation: £145,000.00 (surely this is the one in the current climate?)


Can anyone give me an idea of what they think would be a realistic offer ? Obviously we don't want the sellers to think were not serious, but at the same time we can't afford to pay over the odds !


Thanks in advance


Ian

JoannaA_2

First find out how long it has been on the market (the HIP will effectively tell you this- look at the age of the Office Copy Entries on the HIP) if it has only just come on the market then a low offer is unlikely to work, but if it has been on for ages then it may. There is no way of knowing whether the price is reasonable without seeing a property.

Benji_Brown

It's hard to say, look on sites such as rightmove to see what other similar properties are actually being sold for. I wouldn't take the valuations given by these websites as anywhere near gospel, only as a very brief guide. There are also loads of threads that have recently been posted about making an offer so make sure that you have a look at them because you will be generating exactly the same answers.