how to find a bargain price for a house

Bogof_Babe

bobby_davro wrote:

hi,
no, i'm not 100% certain or in love with this house ive made an offer on, but i wouldn'r really expect to for less than 100k, just need something that's adequate for a couple of years.

The thing is i've seen another potentail house on the EA books that look quite interesting, while the vendors are thinking over my offer, is it not right that i can still view other properties, maybe this would even encourage them accept my offer before i'm tempted elsewhere.

And if i did like this second property is it frowned upon to have 2 offers on two separate properties?

Any quick feedback would be great as i would like to try and arrange a viewing today or tomorow if possible before xmas

If your first vendors haven't accepted your offer yet then I'd say you are within your rights to continue to look at other properties. It might, as you say, be the push they need to make their minds up, in which case I would think that once a verbal agreement has been made, you should not make any further approaches elsewhere until it either falls through or something like a duff survey or a failed mortgage application means you cannot proceed. If that should happen you are honour bound to inform the selling agents straight away, so that they can re-market the property.

ashm1

bobby_davro wrote:

hi,
Looking to buy as a FTB, but everything at the moment looks well overpriced, but the best way i think i can find a bargain is by finding someone who is in a rush to move.

If i could find a property that i quite liked and was able to get 10-15% less than the asking price ( the very max i could afford would be 130K and that's realy stretching ) then i wouldn't feel such a mug about buying at the peak of the house boom.

Now obviously, most people wouldn't except 15% less and would hold out for more, but there must be some people out there in a rush to sell for numerous reasons who may just want to get rid.

thanks

A rush to move could indicate early signs of a market collapse. If you have a large deposit, willing to stay in the property for many years (120K for a studio flat near me), and are highly employable I'd say you could pick up some good deals.

Have a read of the article on the link below though.

http://www.timesonline.co.uk/article/0,,2087-2517940,00.html

"For the first time since the mid-1990s, when the crime rate began a steady fall, the number of offences is predicted to start rising again because of changing economic conditions."