How much would you offer

Engelbert

I know, I know, but. How much would you offer on a house which was on rightmove for £200k, has been on for over a year now and not sold at all
House needs new kitchen and only has secondary glazing, but other houses on the road sold as follows

£212,500
Terraced
Freehold
Not New Build

07-Apr-2006

£190,000
Terraced
Freehold
Not New Build

25-Jun-2004

£209,000
Terraced
Freehold
Not New Build

25-Jun-2004

£195,000
Terraced
Freehold
Not New Build

27-May-2004

£122,995
Terraced
Freehold
Not New Build

31-May-2001

£90,000
Semi-Detached
Freehold
Not New Build

25-Jun-1999

£130,000
Semi-Detached
Freehold
Not New Build

12-Mar-1999

Any thoughts? I am thinking it is overpriced as it hasn't sold or gone under offer in a year, but going by sold prices, it doesn't seem that overpriced...

Thank-you

laughingcow81

It depends, how many bedrooms?

If it needs a new kitchen and double glazing, I would imagine offer at least £20-30k off the initial price?

But as always, it also depends on how much you can afford, how much you think it's worth etc.

benjamin.a

try Zoopla.co.uk,
I agree that £200,000 does not seem too far off the mark based on historic sales.

Engelbert

Its a 3 bed. I was thinking 180k max as an initial offer, but would 175 be too cheeky. It depends on the vendors I know...

N1AK

A couple of sites like Zoopla and Mouseprice will give you an estimate of selling price based on previous sales in the area. Given the high number of sales you list these should give you a fairly good ballpark figure.

Always assume that the price these sites give you is based on the property being in good condition. If it needs work like new windows etc work out what it will cost and factor that into the offer.

If the house has been on the market for a long time it could be because the owners aren't in a rush to move and are being picky with offers, or it might be because no one else has made a reasonable offer yet. You can't know which it is for certain, but you may be able to get some idea from the vendor and EA.

Finally factor in how much you want that property, if you think it is exactly what you want then a few £ks shouldn't put you off. Personally, I'm in the position of trying to buy a house for a good price and so am making offers I expect to get refused then moving onto another property (thus trying not to become too attached to any specific one).

Milliewilly

Engelbert wrote: »

Its a 3 bed. I was thinking 180k max as an initial offer, but would 175 be too cheeky. It depends on the vendors I know...

I would go in at £170K then try £175K for SD threshold. If its been on the market for a year and is already a 'good' price there must be a reason why its not selling or at least had any offers? If you are ready to move quickly with no chain I dont think the above are unreasonable.

asajoseph

Are you looking to buy as an investor, or looking for a home?

I guess if it's the latter, it's the age-old question - how much is it worth to you? Can't hurt to ask the agent what they think (though of course they'll give you a high-end estimate), and if you're really interested there's nothing to stop you going in with a low offer and then negotiating upwards if need be.

If you're an investor? Well, it's hard to know - there could be structural issues, issues with the vendor's ability to move, issues with tenants etc. etc. Any number of things could prevent a house from selling quickly, even if it's at a superficially 'reasonable' price.

Engelbert

Buying for a home. Its just confusing as sold prices and nationwide estimates from previous sold prices suggest its a fair price, but no sales. Will discuss with the agents, but have not found them so helpful in the past - they seem to be very 'cards close to chest'

I s'pose the worst they can do is say no so might make a cheeky offer. Will let you know

Thank-you for the responses

Bufger

based on the history of houseprices for similar houses you have given i would say its close but i would certainly knock them down to 180 and probably not move past 185.

chinup_3

170 intial offer. 175k max. DON'T let your heart rule your head.

Grovester_2

Engelbert wrote: »

I know, I know, but. How much would you offer on a house which was on rightmove for £200k, has been on for over a year now and not sold at all
House needs new kitchen and only has secondary glazing, but other houses on the road sold as follows

£212,500

Terraced
Freehold
Not New Build

07-Apr-2006

£190,000

Terraced
Freehold
Not New Build

25-Jun-2004





£209,000

Terraced
Freehold
Not New Build

25-Jun-2004





£195,000

Terraced
Freehold
Not New Build

27-May-2004





£122,995

Terraced
Freehold
Not New Build

31-May-2001





£90,000

Semi-Detached
Freehold
Not New Build

25-Jun-1999





£130,000

Semi-Detached
Freehold
Not New Build

12-Mar-1999

Any thoughts? I am thinking it is overpriced as it hasn't sold or gone under offer in a year, but going by sold prices, it doesn't seem that overpriced...

Thank-you

What was it like when you viewed it?

The price may be OK but there may be something that so far no one is prepared to live with i.e. tesco's in the back garden?