opinions on this bungalow

bdl1brick

I like it, very similar style and condition to 3 bungalows I bought, did up and sold on during 2006-2007 in west sussex.

As Davesnave says about £10k and some hard work it will make a lovely home with potential to add space by extending up or out the back. Its also a lot less work doing up places when they don't have an upstairs!

motherofstudents

bristol-pilot that's what we are hoping that people might be put off by the 'potential' ! they made an offer on saturday but so far no response. Will let everyone know as you have been good enough to give your opinions.

motherofstudents

So, they offered £100,000 on Saturday.Estate agent called today and said it has been rejected (as expected). He said they had had a lot of discussion on it but the vendors are holding out for £115000. Only last week we were told by his partner they would probably accept £110,000. Any advice on how to proceed ? I really don't know how to figure out what this is worth. They were hoping for £105,000 and I don't think they can afford much more, it will be a question of us having a whip round to help them but I don't want them to pay too much. Any thoughts would be really appreciated as we are struggling a bit.

LilacPixie

TBH I would just say 100k is our final offer in view or work required. Really if a neighbouring house with 2 extra beds in attic sold at peak for 142k then a 2 bed needing gutted will probably not be worth any more than 100k. final offer 100k and leave on table until say 1st november.

bdl1brick

You won't get it for £100k, its probably an executors sale with no mortgage and they are not that motivated to sell it cheap.

It does sound like you could get it for £110k but I would have a whip round like you say and call back tomorrow with an offer of something like £107k saying that they are borrowing money from you to get a bit extra but this is all there is so its a best and final offer. Also lay it on thick about really wanting the place and that you are keen to move quick and mortgage ready, assuming it is, try to get the agent on side to do the deal as they will want their commission!!

If your son really wants the place you may have to go to £110k but I probably wouldn't go higher than that without having a good look around at what else is available.

Good luck!

motherofstudents

Thanks and congratulations on baby pixie !

I'm not sure about the one next door, if it is the one joined on (27) then that doesn't have 2 extra bedrooms. Where do you get the info, is it property bee or just sold prices. I can't do property bee but will have a look on sold prices. Obviously as ftb's they are complete novices but I don't feel that I am much help to them either other than trying to hold them back a bit. They are pretty sensible I think and not going back to EA yet, just trying to get as much info as possible.. Thanks, I know it is a game of holding your nerve but wish I knew what was the right amount to offer. They seem to think 105k and make that final offer and walk away.....

Dave101t

bungalows like this one are certainly not rare, walk away unless you get the price you want, remember...its a buyers market! IMO!

Owain_Moneysaver

I'm with the 'give it a good scrub, paint it white, it'll be lovely' school of thought. A lot better buy than something costing £20-30k more that someone's 'done up' with unknown competence. Nice big garden ... lovely for children in the future :-)

vegasvisitor

I think it looks like it needs a good bit of work, just to bring it out the 70s. Are the fascia boards painted yellow? Bear in mind they might be rotten if they've not been painted for years and might need replaced. We recently did this at a cost of £1900 for ours (larger, detatched bungalow), and this included replacing some roof joists that had wet rot and treatment with timber paste on the water damaged area. This was recommended by a specialist firm. I would have a poke at those with something (stick, brush handle) and see if they are solid. Ours were bulging, and the roof guy stuck his hand through at one point.

I would also suggest that if you decide to make an offer go in at the £95k (why not?), and list all the necessary works if you think it will help. I'm thinking the house looks like it may have new windows (which is a plus as it could be costly). I would chance your luck though, you can only increase on it.

It looks like it could be nice - next door looks nice, so you could make it look much better.

I wish houses were that price where we live

bdl1brick

They have already had an offer of £100k turned down flat so no point offering £95k!

Let us know how you get on though, quite tempted to buy it myself if it wasn't so far away...