First Time buyer – Empty Shell

arkwright_2

I am considering putting in an offer in for a flat which has been placed on the market at offers over £62,000. The one bedroom flat is basically a shell, it requires everything done to it (rewiring, kitchen bathroom, central heating, new windows, etc.), as it had previously been rented by an elderly lady. The flat has received considerable interest. Other Flats (which have been modernised) in the tenement have recently sold for £115,000.

Could anyone please advise me what they would consider to be a reasonable offer to make. I am a first time buyer and completely lost.

CB1979_2

well it looks like it's been valued as per condition, you can't really go there and say well it needs £20k work doing, so here's my offer of £40k!

but there's no harm in trying, all depends how much you want and how quickly you want it wrapped up.

if you think you can get it for asking price and get it taken off market and can do the work for say £20-30k then you're onto a winner and no point trying to save a couple of £000.

Gorgeous_George

I'd guess it would go for £85K - £90K.

Anything less and you have a bargain, assuming there is nothing else that needs doing.



GG

peterg1965

Go for it, could be your opportunity to make a handsome amount of money. Will require hard work and commitment but definately worth the risk.

arkwright_2

Thank you.

Sorry, I should have pointed out that the property is in Scotland.

A closing date has been set for Friday.