Is there any point viewing a house this overpriced?

Rain_Shadow

pinkteapot wrote: »

Hmmmmm, paranoid the vendors will be reading! Although I've probably said enough to give it away already, so why not?

http://www.rightmove.co.uk/property-for-sale/property-41686472.html?premiumA=true

EDIT: Just realised the agents will see a spike in Rightmove page viewings for it and think there's interest...!

These are the two that we missed at £375k, in the same road:
http://www.rightmove.co.uk/property-for-sale/property-41727380.html?premiumA=true
http://www.rightmove.co.uk/property-for-sale/property-25616805.html

My first reaction is that the current house is considerably nicer than either of the other two. Not £100k nicer though.

flora48

If you want to compare sizes download the EPC for each house from the EPC Register, that will tell you the square meterage of each.

ian103

The one we are buying was over priced, the vendors originally were deluding themselves.

There had been 3 sold last year for significantly less than the asking price, the condition of all 3 was similar to the one were buying (albeit the one we are buying was only refurbed in 2006 - but you wouldn't know it from the condition its been left in)

We started by offering at the lowest of the sold prices and ended up at the highest. Just over 80% of the asking price but it was the very highest we were prepared to go before walking away.

When we made the first offer the EA's didn't listen to why / how we arrived at the figure or our buying status, at the next offer they started to ask questions so they obviously accepted some of what we said. Our final offer was FINAL and I guess the vendors had to make a decision with that in mind.

GDB2222

pinkteapot wrote: »

Hmmmmm, paranoid the vendors will be reading! Although I've probably said enough to give it away already, so why not?

http://www.rightmove.co.uk/property-for-sale/property-41686472.html?premiumA=true

EDIT: Just realised the agents will see a spike in Rightmove page viewings for it and think there's interest...!

These are the two that we missed at £375k, in the same road:
http://www.rightmove.co.uk/property-for-sale/property-41727380.html?premiumA=true
http://www.rightmove.co.uk/property-for-sale/property-25616805.html

Looking at the room dimensions and satellite image again, the one for sale is probably a slightly higher square footage, to be fair. I think it's worth more than the two above, but certainly not £100k more.

And these are ones that have sold with asking price £450k, which are all bigger!
http://www.rightmove.co.uk/property-for-sale/property-41613200.html?premiumA=true
http://www.rightmove.co.uk/property-for-sale/property-26371473.html?premiumA=true (this one was on the market for ages)
http://www.rightmove.co.uk/property-for-sale/property-37963879.html

The sort of money you are talking about only buys a converted 2 bed flat round here.

pinkteapot

flora48 wrote: »

If you want to compare sizes download the EPC for each house from the EPC Register, that will tell you the square meterage of each.

You sir/madam are a genius.

The other two in the street were 128 and 137 square meters.

This one is 158 square meters. OK, I take back some of the aspersions I was casting on the vendors. I still think the asking price is OTT but not by as much as I initially thought. The EA marketed one of the other two so could have told me it was quite a bit bigger, instead of just saying it had a nicer frontage. :rotfl:

neneromanova

pinkteapot wrote: »

Hmmmmm, paranoid the vendors will be reading! Although I've probably said enough to give it away already, so why not?

http://www.rightmove.co.uk/property-for-sale/property-41686472.html?premiumA=true

EDIT: Just realised the agents will see a spike in Rightmove page viewings for it and think there's interest...!

These are the two that we missed at £375k, in the same road:
http://www.rightmove.co.uk/property-for-sale/property-41727380.html?premiumA=true
http://www.rightmove.co.uk/property-for-sale/property-25616805.html

Looking at the room dimensions and satellite image again, the one for sale is probably a slightly higher square footage, to be fair. I think it's worth more than the two above, but certainly not £100k more.

And these are ones that have sold with asking price £450k, which are all bigger!
http://www.rightmove.co.uk/property-for-sale/property-41613200.html?premiumA=true
http://www.rightmove.co.uk/property-for-sale/property-26371473.html?premiumA=true (this one was on the market for ages)
http://www.rightmove.co.uk/property-for-sale/property-37963879.html

I WANT THAT LAST HOUSES KITCHEN!!!

*ahem*

Personally, I think that house is way way way over priced. All the other properties have a far nicer/bigger conservatory. The whole house would need updating/modernising and that god awful hideous fireplace would need ripping out.

You could mention this (even if you like what I've just trashed ) to see what they say.

I would say it's worth in the region of under £400k

Quite scary to think that that would get you a farm house with land round here. Just goes to show how different places are.

dumpallhere

pinkteapot wrote: »

You sir/madam are a genius.

The other two in the street were 128 and 137 square meters.

This one is 158 square meters.

I believe these figures (as mentioned in the EPC) are the area of the "building", not the entire plot (garden(s), garage, etc.) of the properties.

ACG

Personally i would be saying to the agent, when you say theyre open to negotiation how much room is there because you think its about £80-100k overpriced - if there is that sort of room for negotiation you will go and view it, if there isnt then there is no point wasting their time or your own.

EDIT:
I would be saying it in a serious tone too. No point beating around the bush with this as it sounds like it is an important factor to you.

LEJC

i'm going to take a slightly different track on this and ask is the house your forever home...could you move into it and see yourself living happily without having to do anything to it in terms of refurbishment....if the answer is yes then whilst its potentially higher than you want to pay for it, does that really matter if you intend to stay for many years and you love the house.

If houses in this area dont come round that often then in some respects its better to purchase now than wait another 2 years for another house to come round which is then also priced at the level of this one IYSWIM...

for what its worth I have to say I'm not a fan of the inside of the house,not keen on all the brickwork so for me its not only potentially overpriced but in need of a transformation which would make the house unrealistically affordable

abaxas

Yes,

We did, offered, offer rejected. 3 months later they accepted an offer for 30k less than we offered.

Muppets.