FirstTimeBuyer - I Want To Make An Offer!!!

Obi_2

I want make an offer on a house and would like some advice on what would be a fair offer.

The property is priced at £175,000.

In my opinion i have viewed houses at same price that were superior (for example one very similar in it's features except it had a large conservatory at no expense to the garden).

The current owners need a sale by tommorow (Monday 30th April).

I don't know if anybody else is interested.

Any advice on what would be a reasonable sort of offer would be very much appreciated. Thanks.

englishdesi

go for 165,000, chances are they will accept 173,500

roswell

They need a sale by tomorrow ?? Is that when the repo company comes round ??

If thats the case i would offer what ever they have oustanding on the mortgage (assuming it is less than the house price)

poppy10_2

Offer 165k, let them bargain you up to 168 max

Obi_2

QUOTE 'They need a sale by tomorrow ?? Is that when the repo company comes round ?? '

Haha, nah, i don't really understand the workings of this but they are buying a new build and have a deadline of some sorts.

I was shown round by the owner and she said that the builders won
't wait till tuesday!!

Running_Horse

Obi wrote: »

In my opinion i have viewed houses that were superior.

Why not go for them then?

If you are not that impressed by the house then put in a cheeky offer and feel no remorse if they refuse. You might just get lucky.

Obi_2

Running_Horse wrote: »

Why not go for them then?

If you are not that impressed by the house then put in a cheeky offer and feel no remorse if they refuse. You might just get lucky.[/QUOTE}

Sorry, i probably phrased that wrong about the other propertys.

I really like this one and the other similar one was the first house i viewed and that was sold shortly afterwards.

roswell

If they have to sell and your there only option .. put in a cheecky offer worst they can do is say no, you can always up it. dont be pressured to buy just because they have a dead line instead add to there pressure.

Kez100

Jees...why o people worry about cheeky offers? We got a house marketed for 120k for 75k in the awful 1990's crash. Its all about desparate sellers....and you have one. OK, pretty likely if they need to move you won't get away with what we did. Try 160, I would.

Doozergirl

I imagine they've put down a reservation fee without having 'sold' their house and the house will be back on the market if they aren't under offer.

It's fair enough that you don't understand these things now but the background to this is incredibly important when deciding how much to offer. Tomorrow, you should phone the agent and clarify what position the vendor is in with this builder and whether the house is built yet, if not, when the anticipated completion date is.

If they are desperate to sell, which it sounds like they are as it's not really the sort of thing you'd tell a buyer unless you have to, I would also go in around the low £160,000s and keep any subsequent offers in very small increases. You shouldn't even consider paying more than £170,000, even as a nervous FTB. These people are going to bite your hand off when the price is right and people go doolally for new builds.

You didn't tell us how much the superior quality houses you have seen are being marketed for. I'm assuming that their asking price is sensible.

Obi_2

[QUOTE=You_didn't_tell_us_how_much_the_superior_quality_houses_you_have_seen_are_being_marketed_for.__I'm_assuming_that_their_asking_price_is_sensible.[/QUOTE]

This was one house, sold for same price as the one i'm interested in.

Sorry about the misleading first post (edited).