How much to offer?

Kuztardd

deleted thread

satchmeister

Kuztardd wrote: »

Yep, another one of these "how much to offer for a property" threads. (I hope you dont mind)

Normally I say "go low and edge on being embarrasing"
but this time, I've looked at a property that is asking for "offers in excess off £179,000"

The place has recently changed agents (now to three agents), had a £20k drop in price and the seller wants to sell quickly.. But it is now at a very very attractive price.

Do you
1) offer the asking price,
2) go a little above the asking price
3) or ignore the "in-excess of" and go low (but risk being ignored and potentially letting other buyers get in first?)

any help appreciated thanks..

Offer very high as you might miss out, there is a queue of people fighting to make offers which is why he has had to involve three EAs, just to handle the sheer volume.

What else has sold .. at what price?, what is he asking compared with what it was bought for?

eg one property in London asking 320k sold for 230k fact. So what is this one worth to you? Define "very very attractive price", if it was it would have sold !

TOBRUK

If they have 'in excess of' £179,000 it doesn't mean that they will get this figure. It may also mean that they are fed up of receiving offers below this figure that they want, or it could mean that they can't afford to sell it for under this price.

You have to remember that it is a game of nerve. They may have 3 estate agents as they haven't had much luck with one and are hoping that they can attract more potential buyers and they are desperate to sell!

Eveyone has a story for selling. If you have viewed this property and have worked out your own figures on how much you could offer, only you can tell what it is worth to you.

2007 prices were prices at their highest - since then prices have come down. They may have spent a lot on the property but how much (if any) would it cost to make it as you would like it to be?

I would put a lower offer than you can actually afford in first - it doesn't really matter how much someone else offers as only you have the answer to how much you can afford.

Do your research - how much have the properties in that area, street etc actually sold for in recent years?

Trusting_Fool

Other side FWIW, I marketed..offers over £96, recieved an offer of £78k. When I queried this with my agent he said they were legally bound to advise me of any offers.