PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

what would you offer

Options
Hi,

Just been to see a property reduced recently from 139k to 129k it has been on the market for about 8 months now.....
I know people are saying property is still coming down, but I am not sure what to put in as an offer or hang fire for a while.....


any help please:confused:

sam
Sam B
«1

Comments

  • James123_2
    James123_2 Posts: 519 Forumite
    Go for 99k & say you'll seal the deal in four weeks. It depends, of course, on what the property is worth to you and whether it's for investment or your main home & the urgency of the seller to do a deal. If this is for your main home then the choice is as much about heart as well as head. If you're a cash buyer or have nothing to sell then you should be able to use this as leverage. I'd check those sites which tell you the sold prices of similar properties - knowledge is power! However at the end of the day, without knowing your circumstances or the area of the property concerned, it's difficult to give informed advice. You can offer low and work your way up - but not the other way around. I don't think that a 25% ish reduction is a mad offer in today's difficult climate.
  • Have you checked for recent house sales in the street and nearby ones for the same type of property ?
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    You haven't give us any information on the property itself for us to offer any meaningful advice. Do you have a link to the property details?
    "You were only supposed to blow the bl**dy doors off!!"
  • samuela66
    samuela66 Posts: 1,203 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    You haven't give us any information on the property itself for us to offer any meaningful advice. Do you have a link to the property details?

    link:http://www.rightmove.co.uk/property-for-sale/property-22863392.html
    I think this is how to post the lik=nk
    Sam B
  • chickmug
    chickmug Posts: 3,279 Forumite
    As others are saying do your homework to establish value but get on with it.

    It may just be one of the places that IS in demand and you may dilly dally and miss out.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    Offer a million pounds, or one pound, or whatever you think it's worth (only one of these answers is real).
    Been away for a while.
  • James123_2
    James123_2 Posts: 519 Forumite
    If it's been on for 8 months then it's probably fallen in value as per the general market so the new price isn't so much a reduction but an acknowledgment of its new notional value. However, it's only worth what someone will pay for it!
  • Dinah93
    Dinah93 Posts: 11,466 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Bake Off Boss!
    That is a nice house, especially the downstairs, but I can't begin to comment on how much I would offer not knowing the area.
    Debt January 1st 2018 £96,999.81
    Debt September 20th 2022 £2991.68- 96.92% paid off
    Met NIM 23/06/2008
  • Catblue
    Catblue Posts: 872 Forumite
    Well, the most expensive terrace on that road was £129, 950 for number 133 in May 2005. So the £139K initial price tag was always going to be extremely ambitious for that road.

    Next most expensive was number 30, sold for £125, 750 in 2007 (so pretty much the height of the market).

    The house itself is somewhat "quirky" looking on the inside - most people wouldn't paint beams pink so unless that really is your taste then you'd be daft to pay over the odds for someone else's taste. And the second bedroom is really small. A quick look on rightmove shows that there are 3 bed semis with gardens in Wallasey for around the same price, so those would look better value to me.

    Based purely on the sold data, and allowing for the fact that it is an end terrace rather than a mid-terrace I wouldn't go above £110K. Purely my opinion of course.
  • samuela66
    samuela66 Posts: 1,203 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Catblue wrote: »
    Well, the most expensive terrace on that road was £129, 950 for number 133 in May 2005. So the £139K initial price tag was always going to be extremely ambitious for that road.

    Next most expensive was number 30, sold for £125, 750 in 2007 (so pretty much the height of the market).

    The house itself is somewhat "quirky" looking on the inside - most people wouldn't paint beams pink so unless that really is your taste then you'd be daft to pay over the odds for someone else's taste. And the second bedroom is really small. A quick look on rightmove shows that there are 3 bed semis with gardens in Wallasey for around the same price, so those would look better value to me.

    Based purely on the sold data, and allowing for the fact that it is an end terrace rather than a mid-terrace I wouldn't go above £110K. Purely my opinion of course.


    Dear Catblue,

    Thanks for all that information, I am not very good at searching stuff like that myself.......
    Everything inside is finished off to a high standard and its the right size for me.
    I made an offer on a house over a year ago, she didnt accept and it is still for sale at the price I offered, glad she didnt cos I decided it was too small.
    I knw these people are looking to move quickly as they have there 15 year old grandson living with them now.......
    I am just too scared to make a low offer (dont know why) they can only say no......

    thanks again
    Sam B
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.