What would be a good offer price for this house.

capstain411

Hi forum,

Like this property a lot. It is in a good area in Dudley, West Midlands. Almost ticks all my boxes.

http://www.rightmove.co.uk/property-for-sale/property-28360766.html

We are first time buyers. I have 45k to offer as deposit. Annual salary of 54k,I am working for NHS in full time employment with guaranteed job for 5.5 years. Better half might soon land a job, not taking that into consideration at all for the time being.

Please suggest what my starting offer should be and what should I finally offer.
My calculation works out to starting offer of 217500 and final offer of 221950. We both love the property, but would not mind if we lose as we would not be able to go anywhere beyond 222k mark factoring all other expenses.

Any suggestions would be welcomed.

bjd_2

I think this is a question only you can answer. If you want the property badly then perhaps £230k? Else, go in low and be prepared to walk away.

Might be worth checking out houseprices.co.uk for what properties in the area have sold for.

If you don't already have "property bee", it'd be worth installing if you regularly use rightmove. That property has been on rightmove since the end of Jan so the sellers might be looking for a quick purchase now.

capstain411

Only one property was sold in this area this year. Not a similar property was sold for 232k.

Catblue

Well, the last two detached houses on that road went for £249K in 2005 and then £265K in 2006.

If the houses are comparable, then the asking price of the one you mentioned already looks decent.

motherofstudents

Do you know how keen they are to move? There are all sorts of factors which contribute to how people finally settle on a selling price that is acceptable to both parties. They may be desperate to move and will take your first offer of 217k, on the other hand they may be in no hurry at all and quite happy to wait for an offer much closer to the asking price. It is a bit of a gamble really - they may think that house prices are going to fall more and be happy to have an offer now. In my opinion if it were me I would offer 220k and then go up to your final offer of 222k. If they say no you will have no choice but to walk away. It looks like a nice house so I hope you get it:)