How much to offer advice please?

Engelbert

House A is in very good condition and on for 204k. We would normally offer 185k/190k or so to start

However a similar sized and presented house B on the same road sold in Dec 2009 for 175k Asking price was 189k, and we were told by the vendor they were going to hold out for asking price. We viewed this house as well and it was very well presented and had a conservatory (which House A doesn't).

There are 3 other houses for sale on the road for 200kish, none of which have sold, some have been on for months.

I know prices have gone up since Oct/Nov which would have been roughly when house B sale was agreed, but surely not by that much? Am now thinking of a very cheeky offer, with the previous sale as justification.

Any help or advice?

pjread

who needs justification? 90% of sellers (and probably agents) attitudes are frankly ridiculous. A property's worth whatever offer you can get is, not what someone told you last year plus 5% because it's a magic bean.

sorry go for it.

Squish_21

Go for it with the cheeky offer - Dont ask dont get.

evening_all

We're making an offer tomorrow for a house 10% below the asking price. We feel cheeky but like others have said, you don't ask, you don't get.

downshifted

We are about to exchange having got 15.5% off the asking price - but that is not the huge bargain it might seem because the property was well over valued in the first place.

It's not the % discount that counts - it's how the price compares with other similar properties in the area. Don't be afraid to offer (initially less that) what you think it is worth and be willing to walk away if you are not getting a fair deal.

Good luck :-)

robbiecaratiger

I'd go in at about £182k... You can always nudge up (slowly in small steps) if you need to

Eric1

Engelbert wrote: »

I know prices have gone up since Oct/Nov which would have been roughly when house B sale was agreed, but surely not by that much? Am now thinking of a very cheeky offer, with the previous sale as justification.

In my area, prices have gone up because of the recent shortage, and are delusional at the moment.
If those 3 other houses are not selling, there is no shortage. Start with a low offer.

CloudCuckooLand

A relative has accepted 8% under asking. Poor negotiation imo, but its not up to me.

tabskitten

I've just put my house on the market and this thread is depressing me!!
think it should be removed........MODERATOR!!!!

smug

When you say, "I know prices have gone up..." you mean that some prices, somewhere, according to the media have gone up.

The ONLY guide you have is what similar houses in the area have actually sold for. You have that guide so base your offer(s), and what you're eventually prepared to pay on that.

sunshinetours

The £175k would no doubt have been the artifical ceiling set by the previous stamp duty threshold that has now reverted back so I don;t doubt in some way that may have suppresed the one you are comparing

Bottom line is offer what you can afford to pay for the property