We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
How much should I offer?
Luckymonkey
Posts: 17 Forumite
Hi,
I have just looked a property for the second time and was considering making an offer. However, I am not sure what to offer as this property has been on the market since Feb this year and has already been reduced from 65k to 60k.(2 bedroom/tiny rooms/20 years old/west mids area). I was thinking of initially opening at 55k and slowly increasing. Would this be too cheeky bearing in mind this has already been reduced once? I understand people would have to know other facts but I am just after a general consensus of opinion please.
I have just looked a property for the second time and was considering making an offer. However, I am not sure what to offer as this property has been on the market since Feb this year and has already been reduced from 65k to 60k.(2 bedroom/tiny rooms/20 years old/west mids area). I was thinking of initially opening at 55k and slowly increasing. Would this be too cheeky bearing in mind this has already been reduced once? I understand people would have to know other facts but I am just after a general consensus of opinion please.
0
Comments
-
What position are you in? Are you a first time buyer with all your finances in place and been ok'd for a mortgage(assuming it is not a cash sale) .
If so,you are obviously in a much better position to get a lower offer accepted.The fact it has been reduced should not matter.55k is not a bad offer to start at,i would imagine you will probably agree somwheer around the 57/58k mark.
I work for an estate agent as a sales neg so i do have some inside knowledge on these matters! Good luck!!0 -
I am a FTB and was thinking of buying this with savings. I have however got several quotes for Conveyancing / Surveys (based on advice from this great furom:money:)
I am please that 55k is in the correct ball park as I thought it might have been cheeky.0 -
Look what other similar properties locally have sold for and use that as a basis for your final offer0
-
Compared to some of the offers i have been party to,it is not at all cheeky!! Very few vendors expect,or achieve,full asking price,even after reducing the price.0
-
Thanks Guys!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards