How much should you bid?

jojaca

If you want to buy a house on market valued £100k for example, how much would you put your first bid in for? Is bidding £90k too cheeky!

GoldenShadow

Depends how much you like it and how nice a house it is. There are some houses which I think are ludicrously priced hence their time on the market. A few I wouldn't even bother with enquiring about because they're so overpriced.

bigadaj

10% below assuming you're keen and its not huge.y overpriced is reasonable. I'd be tempted to go ina tad lower but I'm old and cynical.

The process is likely to be a haggle so the buyer might not settle for less than sat 95k.

Yorkie1

Look on nethouseprice.com to find out what similar houses nearby have sold for recently, and start a bit under that.

iazcac

How long has house been on market (use property bee to check). If only a few weeks and plenty of interest the reaction is likely to be very different to a house on for two years with few viewings

somethingcorporate

We got our current house for £248k and it was on for £285k but the position of the sellers meant we could be very cheeky and they bit our hand off.

We've just put it on the market for £285k and had a hat-full of viewings in just 2 days so will not be taking any less than £275k (unless we absolutely have to).

I'd suggest 10% is a reasonable starting point but without knowing the particulars this could be way too high or way too low.

bigadaj

somethingcorporate wrote: »

We got our current house for £248k and it was on for £285k but the position of the sellers meant we could be very cheeky and they bit our hand off.

We've just put it on the market for £285k and had a hat-full of viewings in just 2 days so will not be taking any less than £275k (unless we absolutely have to).

I'd suggest 10% is a reasonable starting point but without knowing the particulars this could be way too high or way too low.

May be Difficult at that price potentially with the stamp duty hurdle at 250k but I guess you'll be pragmatic.