First time buyer jitters or something more?

likkle_monkey

pinkshoes wrote: »

Have you looked on house prices see what they paid for it when they bought it?

How long has it been on the market?

If they bought it over 10 years ago at a much lower price, then you'll have far more scope for negotiation. If it was bought only a few years ago, they could be already at the level of their mortgage, so they'll be no doubt looking for the asking price.

Do your homework, and make a sensible offer. If it's priced to sell, then I wouldn't offer TOO low, as they may think you aren't serious.

Are you sure you can afford it?

Hi pinkshoes

Thanks for your reply.

The previous owner bought in 2008 for £174k. I spoke to the EA earlier and they have said an offer for £175k was made a while ago which was initally accepted, then the vendor wanted an extra £1k which the buyer refused and therefore pulled out. I would initially go in at £170k and see where we go from there.

likkle_monkey

Hi everyone

Would just like to say that my offer of £175k was accepted on Saturday!! Very happy! I did initially go in with a cheeky offer of £168k which was immendiately rejected. We then went in at 175k as best and final and it was accepted! 10k under the asking price. It'll cost around £7k to do up but it'll be worth it as we can do it exactly how we want.

Just want to say to anyone else who is feeling a bit jittery like I was that it's completely normal to get cold feet. Remember to double check everything, especially how much you can afford and if needs be, take someone else to look at the house with you. I took a builder friend who quoted there and then how much we'll need to spend and he also said it was a great buy (he buys properties and does them up for a living so he knows what he's talking about!!)

Thanks for all the advice on this thread!
Sarah

little_miss_muppet_face

Congratulations... :beer:

I hope its a happy home for you :j