What offer should I make?

ste_w

Hey I'm currently looking to buy a property and just wanting your opinions on what initial offer to make. The property has been on the market for over 3 months and is vacant.



Thanks

samtoby

At least 10k under.

Uk_Lover

I'd try my arm at 70K, all they can say is no !

ste_w

Hey thanks for replying. I'm a first time buyer and have an £8000 deposit (excluding solicitors fees) for a mortgage.
Its on for £82,950 but the estate agent says they are flexible on price. I'm viewing again tomorrow and can put an offer in then if i wish.

ste_w

Any other opinions? Thanks

lowlitmemory

If the estate agent has said they are flexible on price, try for £70k or even £65k if you are happy to potentially begin bargaining back and forth. What is your actual maximum? You can try for less than this and work up to that point. What have similar houses sold for recently?

dsavvy83

Have you got an agreement in principle?

I would put in an offer close to 68k and convince them you can exchange quickly if there are no hidden nasties with the property.

but if they want a higher offer, i would insist they take it off the market.

like everyone says they can only say no.

ste_w

Also, the estate agents said that they have an independant mortgage advisor that wants to arrange a meeting tomorrow to help us. Is this wise though? I don't want to give them too much information on my finances as I know estate agents get a % of the sale. Do you think I should go through my own mortgage advisor?

drummer_666

if other similar houses have sold for 75k. i'd go in for 69/70k and aim to get it for 75k MAX.

If they come back and say no to your offer, say ok I will go to £75k that's my limit. And other houses have sold for 75k. The houses have gone down x% since then.

Reitterate you're a first time buyer with DIP also.

Although in a different area, I've recently had an offer accept 75k on a house that was up for 81,950. 78k would've been a fair price for it. Owners also deceased and it had only been on the market for 3 weeks. 75k was also my first offer and accepted within 48 hours.

drummer_666

ste_w wrote: »

Also, the estate agents said that they have an independant mortgage advisor that wants to arrange a meeting tomorrow to help us. Is this wise though? I don't want to give them too much information on my finances as I know estate agents get a % of the sale. Do you think I should go through my own mortgage advisor?

the EA also wanted by DIP. I said if my offer is accepted I'll happily send them this over, but not until then.

the accepted my offer and took it off the market when they had seen my DIP.

if you're happy with your own advisor, i wouldn't even bother seeing theres. it'd be a waste of time I think.

Suarez

ste_w wrote: »

Also, the estate agents said that they have an independant mortgage advisor that wants to arrange a meeting tomorrow to help us. Is this wise though? I don't want to give them too much information on my finances as I know estate agents get a % of the sale. Do you think I should go through my own mortgage advisor?

Stay well clear! Best to do it through an independent advisor.