To those BUYING in these difficult times....

DannyboyMidlands

mattdragon2 wrote: »

A 4 bed house I looked at just come on for £170k. It last sold dec 2008 for £147k and £117 in 2006 dec.

I was going to offer £145k, does that sound reasonable? Not sure why they think it has gone up £23k in over 2 years though.

No, it sounds totally crazy to me. It's clearly over-priced so I'd wait at least a month, if not 2, before viewing and offer significantly less that it's 2007 value.

BeauBelle

mattdragon2 wrote: »

A 4 bed house I looked at just come on for £170k. It last sold dec 2008 for £147k and £117 in 2006 dec.

I was going to offer £145k, does that sound reasonable? Not sure why they think it has gone up £23k in over 2 years though.

Do you know what condition it was in when it was purchased in 2008? It could have been a complete wreak. What we paid for our house in 2006 bears no relation whatsoever to what it is worth now as it needed gutting totally and everything being renewed.

Sold price websites are only reliable if you knew what state the house was in when last sold. If I was that seller and was offered what you are going to, the answer would be a flat no I'm afraid.

BB

erghblah

Hello everyone, first time poster here who's been viewing this thread with much interest as a FTB! My fiance and I have been looking since March, had one offer rejected, one accepted but the vendor pulled out (hadn't bothered to look into ERP on mortgage and pulled a stubborn "I'm not going to move now" strop) and think we have now found a better property which we'll be putting an offer in on.

I just wondered if anyone else had liked a property which isn't turning up on the land registry reports? I only ask as we're considering what offer to put in on the place we saw over the weekend. It was originally on the market at 169,950 (Nov 2010) and then reduced in Feb to 159,950. We are currently in rented accomadation with one months notice and due to previous property fall out have a solicitor on the cards and survey paid for and transferable. We were thinking of offering 145,000 to start off with as we do quite like it and it's decorated to a high standard. If it was bought pre-1999 the current owners would be making a pretty penny from selling it (it's not on mouseprice or zoopla as being sold since 1999) and maybe would be willing to consider an even lower offer.... Hrmm.

Thank you all for sharing your experiences (both good and bad) as it's really helping me get to grips with what it means to buy a property in England! Best of luck to everyone.

kford224

Funkygibbon wrote: »

Just been informed that we have finally received an Environmental Certificate for the property!! Just waiting for something else to go wrong now!

How are you getting on, have you completed yet?!

Funkygibbon

kford224 wrote: »

How are you getting on, have you completed yet?!

Nearly!!

Exchanged contracts yesterday! Completing on Monday!!!

kford224

Funkygibbon wrote: »

Nearly!!

Exchanged contracts yesterday! Completing on Monday!!!

Hurrah!! Finally!

Bet you can't wait!!!

Funkygibbon

kford224 wrote: »

Hurrah!! Finally!

Bet you can't wait!!!

No can't wait! Got a text this morning to say that the funds have been transferred from the bank!! Think it's going to be one of the slowest weekends ever!!

How are you getting on?

lazer

I made an offer yesterday - so fingers crossed!

How long does it normally take for EA's to get back to you re:offers?

This is only the 2nd house i've made an offer on!

jonny_power

erghblah wrote: »

Hello everyone, first time poster here who's been viewing this thread with much interest as a FTB! My fiance and I have been looking since March, had one offer rejected, one accepted but the vendor pulled out (hadn't bothered to look into ERP on mortgage and pulled a stubborn "I'm not going to move now" strop) and think we have now found a better property which we'll be putting an offer in on.

I just wondered if anyone else had liked a property which isn't turning up on the land registry reports? I only ask as we're considering what offer to put in on the place we saw over the weekend. It was originally on the market at 169,950 (Nov 2010) and then reduced in Feb to 159,950. We are currently in rented accomadation with one months notice and due to previous property fall out have a solicitor on the cards and survey paid for and transferable. We were thinking of offering 145,000 to start off with as we do quite like it and it's decorated to a high standard. If it was bought pre-1999 the current owners would be making a pretty penny from selling it (it's not on mouseprice or zoopla as being sold since 1999) and maybe would be willing to consider an even lower offer.... Hrmm.

Thank you all for sharing your experiences (both good and bad) as it's really helping me get to grips with what it means to buy a property in England! Best of luck to everyone.

All I can suggest is go with your gut feeling and if you think your first offer is too high then it probably is.

There is a trade-off between playing the slow game and getting a really good price, but also the risk that another buyer comes along. We saw a nice house and went in with near asking price because we really liked the house and thought others would too.

Good luck!

Funkygibbon

lazer wrote: »

I made an offer yesterday - so fingers crossed!

How long does it normally take for EA's to get back to you re:offers?

This is only the 2nd house i've made an offer on!

Good luck!

Depends if the estate agent is playing games or not! The estate agent that we were buying from were very good to use. Took about an hour to get back with yes or no answers!