FTB - First Offer?

Getting_Better_With_Money_2

Hi

I read this forum loads and have picked up some good advice and now I'm thinking of buying myself so I need more advice!

I've just arranged to go and see a flat I've had my eyes on for a while - Its been on the market for at least 6 months. First the price was 125K, then 116K and now they're asking 110K.

Will the estate agent be able to tell me why its still on the market? And, as a FTB, what should my starting offer be?

Thanks guys!

Doozergirl

You may see why it's been on the market so long when you've viewed it. It may be sensibly priced now, it was obviously overpriced before and sometimes if people sit too long at a high price, it seems to put people off viewing altogether, even at a lower price.

You have to figure out what it's really worth by scouring the listings and viewing many other properties. Sold price websites can be useful where there a lots of comparables, but the market does change and sometimes those sites are less than useless.

You can ask the agent why it's been on so long, but unless it's a pigsty, they probably won't give you a straight answer.