FTB - first viewing questions/concerns

jetgirl_99

Morning all!

Just after some opinions - got 3 viewings arranged for next week, 3 x 2bed flats, all in the same area (literally within streets of each other)
Having done some research on sold prices within each block and nearby streets I'm wondering a couple of things....

Flat 1 - priced at 175k, been on the market since Feb and judging by the dimensions on the right move ad is the smaller of the 3 but looks lovely (from the photos) However, terraced houses in the same road have been sold for 175k, obviously freehold and with gardens. This is leasehold and no outside space. I'm going with overpriced on this one but is there anything I could be missing to justify the price? Last sold for 136k back in 2004

Flat 2 is 163k but the price was actually raised about 4 days after listing from 159k (according to right move anyway!) Would it be cheeky to offer around the original price? Bearing in mind this is round the corner from flat 1!

Flat 3 is the one that I'm most confused about. Size wise it's the middling of the 3 but its been on the market since Nov 12, reduced in jan from 150k to 145k and is now open to offers! What could be wrong with it? New kitchen and bathroom in 2012 and new boiler in 2011. Longest lease out of the 3. Can anyone help with any questions I should really be asking about this one?

I've armed myself with as much research as possible but am just nervous about making an offer on one of them (assuming they're suitable once I've actually viewed) and missing something huge (flat 3) or paying way over the odds (flat 1)

Sorry for waffling, I've not had nearly enough tea this morning!

Dan-Dan

To be honest , i would be worrying about whats worth what etc , after seeing them all

cattie

I agree with Dan. The only thing I would really take in consideration when comparing what is on offer with flats is what the service charge is & what it does & doesn't include.

Fire_Fox

Look at far more land registry sold prices that that, cast your net wider if needs be. And forget about value for money until you have viewed both the property and area, one street can differ from the next.

What do you mean by longer leases, are any approaching 80 years? If so has the vendor served notice on the freeholder regarding extending the lease?

Forget cheeky: offer what you believe a place is worth from thorough research and you can raise a mortgage on. The for sale price is largely irrelevant/ red herring since too many vendors base that on what they need to be able to move or what they hope their property is worth.

R_P_W

are there mot any of the terrace houses on the market for similar price as you mention?

jetgirl_99

Thanks for all the replies guys! I'm getting ahead of myself I know!
Cattie - great point about asking what the service charges include, hadn't thought of that one!

R P W - no, none of the terraces are currently for sale, was just going by previous land registry data and making comparisons!

Thanks all!