Making an offer

Robertsutton1978

Hi All

I viewed a house yesterday and I like it and would like to make an offer, but I'm unsure how much to offer.
It's on the market for £159950, it's been on the market since last June on and off and started at £167000.
There are some minor issues I can see with it,like needs decorating, and one of the upstairs double glazed windows has water in it and needs replacing.
The big issue though is the bathroom, it looks like nothing has been done since the house was built back in the 70's.
I'm thinking I'd have to budget around £5000 for a new bathroom, so I thought I would offer about £150000, but is this too much of a drop in price?

Thanks for any advise
Robert

Dovah_diva

Personally, I'd offer even less than £150k. I'd start at around £140 and move up incrementally.

hcb42

OP, offer what you think, you will either be told yes, or no. They are unlikely to accept your first offer as they will assume you have something in reserve.

There are no rules. Do your homework on sold prices for similar properties etc

Paully232000

It all depends on what other similar houses have sold for in the local area, and how close the advertised price is to this average. If it is right on the money I would doubt they would accept less, but if it is way over there is more room for manoeuvring on price.

Having said that I would offer less than I would be prepared to pay/others have sold for and work my way up. Within reason, no offer is too low and it is always easy to go up and a lot harder to offer less.