How much to offer?

sunflowers1

Hi,

I would like some help please.

I know the general advice here is to offer 5 to 10 % below the asking price but does this still apply to where the price is offers in excess of xxx?

We've seen a house we like and would like to put an offer in but its priced as offers over $159,995. We don't think it is worth this as it needs a lot doing to it as it needs rewiring, new boiler,decorating, a new kitchen etc and it is a matter of 'needing' this to be done rather than it not being decorated to our tastes. We have found out that it is being sold because the owner went bankrupt. The insides of some of the kitchen cupboards have been kicked in, there are electricity wires hanging out the walls where fittings have been ripped out and it is generally very grubby inside, to the extent where you would want to rip out carpets,clean and preferably paint everything before putting any of your own stuff in the house. Garden needs doing etc etc.

The house had been up with another agent for at least a month without selling and has been up with the current agent another couple of weeks. A property further down the road has just sold within a couple of days which was up at £150,000 although that did not have a conservatory or a dining room as this one has been extended. However this had been fully modernised/decorated and didn't need anything doing to it.

Our feelings are that we would not want to go above about £153,000 as it will need a lot spent on it. Does this sound about right? What sort of first offer would you put in?

Thanks

icklejulez

I am also looking and asked the EA this as one I wanted seemed over ambitous and she advised me to view it and if I was interested to visit there financial agents to show our situation ie cash etc and she can put our case forward. She says even though we would not be using their financial advisors she could put our case forward. After all the seller seemed like a prat, told us if we wanted a second viewing it had to be within 5 days! Guess what... No matter how much I like the house Im having no seller tell me what to do!