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1st time buyer- how much to offer?
1stimebuyer
Posts: 2 Newbie
Hi all, this is my first post here and I'm just looking for a bit of advice. I've seen a house that I'd like to buy, it's on the market for £155k, it's been up for sale since the summer and the owner has moved abroad so it is currently empty. There is no chain and I'm a first time buyer with no chain, a deposit and a mortgage agreement. What do you think my opening offer should be? Thanks for your help..
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Comments
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Depends - do you want the house or do you want a good deal?
If you want the house then offer whatever you are prepared to pay (up to the asking price).
If you want a deal then you need to research the market, research the condition of the house and the amount of money to bring it into a reasonable condition, decide on a profit level and offer whatever that amounts to. And stick to it.
Whichever you go for, you should have a mortgage offer agreed in principle, together with some sort of evidence for the vendor's estate agent to prove how proceedable your offer is.
You can further strengthen your offer by offering to complete within a short timescale (check with all the parties on your side what that is - mortgage co, solicitors etc). But bear in mind that if you miss that completion date then any deposit you may have put down will be lost.I'm an ARB-registered RIBA-chartered architect. However, no advice given over the internet can be truly relied upon since the person giving the advice hasn't actually got enough information to give it with confidence. Go and pay someone!0 -
i would offer 15% less to start £131750
they can only say 2 things yes or no0
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