Buying House

Shumm

Advice needed - we are interested in property. Price around £193000 - what is a reasonable offer. Its been on market for 3 months.

Is £168k really cheeky?

maya+2

have u checked property bee on rightmove to see if its already had a price reduction?
Do you think its overpriced and is there anything comparable in the area going for cheaper?

Also try and check the previous sold price as that'll give you an idea of the equity they actualy have in the house and the potental for negotiation but bear in mind they may have spent alot out on improvements.

As long as theres not another interested party you dont have much to loose starting low, but I would describe 168 as a low offer if you don't think the house is overpriced.

Mine was on the market for 3 months and in the end I got 2k below asking price with two people puting in offers at the same time but I did put it on below the estate agents valuations which are usualy slightly inflated.

Good luck and let us know how you get on

G_M

I'd offer 166.5

Shumm

thanks for all the advice!

we do think the property is overpriced. it's outside the city commute area, not close to amenities and was purchased in 2003 for £155,000 and now on the market for around £193,000. only part double glazed and it's terraced.

gorgeous decor and not particularly large room sizes but we just love the style (victorian) and the decor.

we could probably stretch to £170,000 but obviously would increase monthly mortgage repayments substantially which is why we were hoping to go in cheaper than that.

we're also in an ideal position as we don't have a chain - we're currently renting and are sitting with deposit and mortgage offer on the table ready to go.

will have a wee check and see what's been sold in the area recently

PasturesNew

£193k to £168k is a bit of a leap ... who knows... maybe they're sitting there right now saying "You know.... we really need to get shot of this house ... let's go wild and drop it to £168k." You'll only know if you put in an offer. It does take b4lls though.