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Make an offer or wait for the price to drop?
patricia..xx
Posts: 167 Forumite
We are not anywhere near what I have suggested in the title, more like should I view or not.
Background is - house bought for £105k Jan 09, cheapo redevelopment, now on hte market for £160k.
No pictures of the bathroom but looks to me like new heating has been put in, and new kitchen which we would probably substantially rip out and redo. Nasty carpets. So basically we would need to spend a good bit.
I think £105k was a bargain looking at other sold prices, and £160k is not too far off other sold prices. However, there has not been £55k of value added and prices clearly haven't gone up since January. I don't want to pay someone a premium for things I don't like.
At the moment I don't know whether to bother even looking at this house (a 300 mile round trip), as realistically we wouldn't pay more than £145k and even that might be too much.
Any advice? Wait until they reduce the price then consider looking, or look and make a really low offer if we like it?
Background is - house bought for £105k Jan 09, cheapo redevelopment, now on hte market for £160k.
No pictures of the bathroom but looks to me like new heating has been put in, and new kitchen which we would probably substantially rip out and redo. Nasty carpets. So basically we would need to spend a good bit.
I think £105k was a bargain looking at other sold prices, and £160k is not too far off other sold prices. However, there has not been £55k of value added and prices clearly haven't gone up since January. I don't want to pay someone a premium for things I don't like.
At the moment I don't know whether to bother even looking at this house (a 300 mile round trip), as realistically we wouldn't pay more than £145k and even that might be too much.
Any advice? Wait until they reduce the price then consider looking, or look and make a really low offer if we like it?
0
Comments
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Only by viewing a number of properties in an area will you decide the value of a particular one. Previous purchase and and sale prices whilst a guide. Don't tell you anything about what has been done to a property in the way of rebuilding or improvements.
To go all that way. Arrange with Agents to see 5/6 on the same day.0 -
Yeah we have done that once and viewed the only 4 we thought looked reasonable. So don't want to go again and see only 1.
You can tell quite well from the internet pictures that the improvements are the absolute basic value range option, but there may have been repointing/new roof or something. I suppose I just don't the idea of people buying places to do up and not leave it to someone who actually just wants a house. So it would have to be pretty nice for me to go against that and give a property developer (who looks like a rubbish one!) any profit.
Will wait and see if anything else comes up to make the trp worthwhile0
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