What to offer? Advice please

worktolive_2

Hi,
I hope someone out there can offer some small piece of experience / advice.
We have viewed a lovely house, in the flesh today and want to make an offer, but dont know how cheeky to be about it. Basically, it is on for guide price 300k-320k. Four bed, semi, driveway for 3 cars, double garage, comforatble house owned by two quite old people, so is decorated well, but very old fashioned. It has been on the market with 2 agents for 8 months and very few viewings, let alone offers. It is in South Cambridgeshire.
I have researched what has sold recently on the street, but as its a small village, not much happens with regards to house sales. But, i found that a 3 bed semi on the same road "pre-extension" sold in november 2012 for 176k, another "pre-extension" went in August 2012 for 202k and a similar property (i.e. 4 bed, extended) sold in 2006 for £220.
I know house prices since 2006 have dropped and then come back up so are about level with now.
The vendor has already bought a bungalow, cash and is motivated to move into it so the agent said they would consider 'anything'.
We dont really want to go over the £250k stamp duty level, but dont want to offer what they might think is silly money.

Any thoughts?
We really love the house and are currently under offer on ours.

Thanks

I_have_spoken

RM link or ref #?

worktolive_2

I cant post a link to MSE, says Im not allowed! Where on RM can I find the property ref?
The house is in Barrington, Cambridgeshire. Glebe Road

hcb42

if it is on for 320 and you cannot go above 250K prepare to be disappointed. That is a lot of a drop (whether it is overpriced at moment or not)

TeddyandMarie

What does the agent say/hint at the price is which the owners will accept?

I would say that you offer £250k and explain why, then see if they will offer a price in return. It has been on the market for a long while, so they might say that they will accept 270 for instance.

Good luck, and let us know how it goes

I_have_spoken

this one - http://www.rightmove.co.uk/property-for-sale/property-24918555.html?premiumA=true ?

It's certainly over-priced, arguably over-developed (ex-council?), poorly presented & needing a full revamp with no-ensuite but you'd be doing well in bargaining down to £250,000 in the current Cambs market.

14 Glebe road, 4 bed detached went for £355,000 in Aug 2012 which may have encouraged the vendors to think they'd get silly money.

worktolive_2

Hi, thanks for your comments.
Yes, it is that one you (I Have Spoken) posted a link to. It's not that we cant offer more than 250k, its just that stamp duty makes me want to cry!!! Also taking into account how long been on the market and sellers position I thought it might be worth a punt.

ognum

I am not sure how influenced Barrington is by the Cambridge market. The market in the city is in a bubble and properties are selling fast and close to at or over asking.

The village properties have not shown the same resilience but I will still be surprised if you get a 250k offer accepted but hope you do.

It appears the house is on with two agents and in this area that shows some levels of desperation so go for it.

tortoiseshellcat

It really depends on the seller but that is quite a big drop perhaps go in at £270000 which is 10% below the lowest guide price with an aim of going up to perhaps £285000.

Saying that, we really liked a house that was guide price 300-325 and offered 270000, increased to 285000 and that was turned down, so went to 301000 - which very disappointingly was STILL turned down so you really don't know what people want. Good luck though, hope you get it if its the right house for you.

ognum

Property in Barrington was in the past held down by the cement works which has now shut down so a great place too live now.

tortoiseshellcat

I know what you mean about the stamp duty as we were also thinking along the same lines...however another way to think about it is if you can get a really nice house at a good price less than its worth then an extra £5000 stamp duty or whatever it is isn't too bad at the end of the day.