First time buyer

Confused_Buyer_3

Hi,

we are first time buyers and have seen a house we would like to put an offer on, but have no clue..the house is on the market for 365,000 GBP. Its a semi-detached 3 story house. We want to make an offer but don't know what is reasonable. Can someone please help?

Thanks!

Confused Renter/Buyer

tabskitten

how much do you have?!?

Confused_Buyer_3

I just need to know how you can bargain, haven't done it before and didn't know how much lower I can start...my husband thought to start 350,000 but should we start lower? Is there a percentage below the asking price we can go under?

G_M

semi-detached 3 story house?

£224,325.98p

Eric1

Confused_Buyer wrote: »

Hi,

we are first time buyers and have seen a house we would like to put an offer on, but have no clue..the house is on the market for 365,000 GBP. Its a semi-detached 3 story house. We want to make an offer but don't know what is reasonable. Can someone please help?

Thanks!

Confused Renter/Buyer

I'm confused too. Anyone able to save 36,500 for a deposit should be pretty good at bargaining. Or have you just won a lottery?

tabskitten

if you have the money and you want it- pay the price asked,
if you want to haggle- haggle- but be prepared to be refused.

CarineG

have you looked at other houses in the same area? How do they compare (size, condition, potential)?

Running_Horse

G_M wrote: »

semi-detached 3 story house?

£224,325.98p

No, this is the correct figure.

£497,185.49p.

Everybody knows that.

DaddyBear

Confused_Buyer wrote: »

Hi,

we are first time buyers and have seen a house we would like to put an offer on, but have no clue..the house is on the market for 365,000 GBP. Its a semi-detached 3 story house. We want to make an offer but don't know what is reasonable. Can someone please help?

Thanks!

Confused Renter/Buyer

If you aren't embarrased by your first offer it's not low enough.

ManicMum

Hello there. Depends on lots of factors such as area. Where are you roughly ie. south east or London? Even then there are areas within areas that can affect price, good schools etc. I think £350k is reasonable. you could try lower but think you may be rejected. Has the house been on long? Is that the original asking price or has it already been reduced?

There's no rule book I'm afraid. It's a tense game you have to play. Good luck!

danlojo

Depends on the area and the trends of other houses sold and whether it's a EA price or sellers wanted price.

10% - 15% less is a good area to start with

We have offered £315k on a £359k house and the husband wants to sell as we are FTB and can move quick and whenever but the wife wants more to fund her Louis Vitton spending sprees in London:(

Houses in the area the same have sold for £297 - £335k so it's massively overpriced as stated by 2 other EA's BUT sellers will sell at what they want to have back.