Offers above...but how much?

st3w4rt

My partener and I have found a house that we really really like:)

The property is listed on the market as offers over £130,000 as of the weekend.

It has been on the market for 167 days, previously it was on at £145000, before that it was on the market for £149000

The question is, how much should we offer over £130000?

We really don't want to miss out on this property but don't want to overpay either

Gwhiz

st3w4rt wrote: »

My partener and I have found a house that we really really like:)

The property is listed on the market as offers over £130,000 as of the weekend.

It has been on the market for 167 days, previously it was on at £145000, before that it was on the market for £149000

The question is, how much should we offer over £130000?

We really don't want to miss out on this property but don't want to overpay either

Ignore the words "offers over" and offer what YOU (and the market if you do some research) think it's worth.

st3w4rt

It sold in 2003 for around 130000. We feel its worth about 140000 but its a very unique property as its a 2 bedroom cottage with woodburning stove and loads of wooden beams and a huge very private garden all in the middle of a town so can't really compare it the surrounding detached and semi-detached houses nearby.

Cannon_Fodder

Another one, in 4 days... https://forums.moneysavingexpert.com/discussion/2586703

Well rush out and offer the max you can afford.

Or.

Recognise that property that you like is turning over Ok in your area, and another one will be along in 4 days...

Tiles/fiesplace and wood-burning stoves can be retro-fitted...pick the house on the plot you want at the deal you can afford.

st3w4rt

Good point cannon fodder and food for thought for us.

We do much prefer this second one, we initially thought it was quirky but a bit impractical and only went round the first time because there was an open viewing (this is while we were waiting for a response from our offer for the other house in the other post).

However on second viewing today we decided that it would work for us and that certain points were much better than the first place we put an offer in on.

This one is more of a one off than the first and a similar property is unlikely to come on the market again in the near future.

skintchick

Do your research as to what it is worth, then decide what it's worth to you, make an offer you are happy with and see what happens. Sadly, there is no magic formula.

Salz

Offer £130,001 and take it from there

pardal51

Salz wrote: »

Offer £130,001 and take it from there

This is the way to go. Put emotions aside and start with the lowest offer possible. property has been on the market for over 5 months. If vendors really want to sell they will negotiate.

Nitramak62

Salz wrote: »

Offer £130,001 and take it from there

If theres no other interest (ask the estate agent) this could be the way to go, but some sellers may think you are taking the p*** if your offer is to low and decide to set their expected selling price higher than before. (It's natural instinct)

I would personally speak to the seller and ask then realsitically what thay are willing to accept & if you think the property is worth it pay it, a couple of extra 1'000's over 25 years is pennys a week.

mrstinchcombe

Offer below

Riq

Offer £125k and see what they say. See how desperate.