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Putting in an offer today
Comments
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I wish you all the best Jack!
and one question...as i rule of thumb...how much lower should an offer be made based on the asking price (ie: if looking at a property of aroun £240000, will £215000 sound good for a start?0 -
I wish you all the best Jack!
and one question...as i rule of thumb...how much lower should an offer be made based on the asking price (ie: if looking at a property of aroun £240000, will £215000 sound good for a start?
I don't think it's possible to calculate without knowing the local market, I would always put a low first offer, just on the off chance that they say yes.
Download "property bee" for firefox to check how long the property has been on the market for, and check how long similar properties have been on the market, use 1 of the many actual sold price websites for recent and historical data for the area.
Good luck!0 -
I can't see them accepting 122k on a 135k house, unless it's really overvalued or it's a distressed sale.0
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Jack_Johnson_the_acorn wrote: »I know, if they aren't prepared to negotiate a realistic price then there is really no point in marketing the property at all... Prices are only going down for the next 6 months IMO.
Whats realistic to you might not be so realistic to vendor and vice versa.Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp0 -
True it's a buyers market but you can't expect to get 10% off asking price - unless asking price is really unrealistic. I'm finding this as a buyer at the moment - making what I think are decent offers but sellers saying no. Their prerogative of course. But don't just think because we're in a recession that many sellers will take a lot less than asking price, because from experience of putting offers in, they wont!0
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True it's a buyers market but you can't expect to get 10% off asking price - unless asking price is really unrealistic. I'm finding this as a buyer at the moment - making what I think are decent offers but sellers saying no. Their prerogative of course. But don't just think because we're in a recession that many sellers will take a lot less than asking price, because from experience of putting offers in, they wont!
I'm not expecting them to flat out accept a first low offer, but if they do it's a bonus, if not I'm more than happy to improve my deposit!
plus the sellers in my case would still be making near £90k from what they paid.0 -
I can't see them accepting 122k on a 135k house, unless it's really overvalued or it's a distressed sale.It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Jack_Johnson_the_acorn wrote: »plus the sellers in my case would still be making near £90k from what they paid.
The maths of this is not always that straightforward. £50 ten years ago is not the same as £50 now.
I believe you have take in to account :
1. interest paid borrowed sum.
2. depreciation/inflation etc.
3. maintenance work etc.Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp0 -
THey bought in 1999! The £90K is only paper profit
I would market my house about £90K more than I paid for it in 2005, when it was falling down - but I have stopped counting the significant work I have done on it once igot past £50K or so!0
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