Is there any point viewing a house this overpriced?

GDB2222

xyellowx wrote: »

i offered 230k for a 250k property with bit of land on i told seller and e/a it was max i was paying as it was no bargain they laughed at me said they would get full asking price and my offer was a p1ss take. its back up this week with different e/a 200k ono so glad my offer got refused

Linky please, please, please?

ging84

GDB2222 wrote: »

Linky please, please, please?

there are no links to nevernever land

I_have_spoken

This one has come on at.... £475k!

In 'hot spots' like York, Cambridge, MK, East Kilbride, Aberdeen, prices are going to the moon.

20400keith

I'd view... I read on another thread of someone putting off viewing because a house was outside their price range. When it was reduced it sold before they could view.

xyellowx

GDB2222 wrote: »

Linky please, please, please?

it was up with connells (stourbridge) now dixons (stourbridge i would assume) amblecote road, brierley hill, west midlands

xyellowx

the cosmetic upgrading is a laugh
it needs a team of multi skills in for aleast a month to get it looking nice and new inside

Full_of_angst

You could view it then leave feedback for the vendor via the EA saying you like it (if you do) but compared to similar properties recently sold in the area you think it's way over priced.

hobbes1_2

Simply, I'd view, register your interest but say it's out of your budget at present. If it's really over priced the EA will keep you on their books and come back to you in the future (if they're worth their salt) when no-one else offers the asking price. Also, EAs don't always value properties within similar bands if they're not local - e.g. when my late father died his house was originally valued at £500k by a city EA while the local EAs valued it at £360k-£380k!

Tancred

pinkteapot wrote: »

There's an estate we're keen on, where stuff rarely comes up for sale. Annoyingly, there were about five on the market at once which all sold just before we started looking seriously a couple of months ago. Nothing else has come on the market since, except for one last week.

Two others in the same road have sold STC. The houses were about the same size as the one now on the market. Both had asking prices of £375k. We don't know what they sold for yet, but my guess from other sales in the area is fairly close to asking price.

This one has come on at.... £475k!

I would never normally talk figures until after viewings but in this case I phoned the agent to say "What the hell?". I used nicer words.

I explained that compared to the ones we just missed, I can't see on paper what justifies the asking price. Am I missing something? The agent said this one has a bigger plot. The rear garden is about the same size as the others but it has a frontage 2-3 times bigger so is set further back from the road and provides more off-street parking.

This is a plus, but it's a very, very quiet cul-de-sac anyway so proximity to the road isn't really that big a deal. I can see that the overall plot size makes it worth a bit more than the others, but surely nothing like that much?!

The agent said we should view as they vendors are open to offers. They've found something they want to buy.

I'm just not sure I see the point. I know the area - I know which house it is, I know the plot and I know the room dimensions and house size compared to other recent sales. Offer would probably be £375-400k depending on exactly what the internal condition is like.

I just think viewing would be wasting our time and theirs, until the asking price has come down.

Would you bother viewing in this situation?

The relevant questions are:

1- can you afford the price?
2- do you really want the house badly enough?

If the house is so overpriced it's likely the surveyor will knock the price down at valuation.