Standard question - how much to offer

electrodent

Hello,

Standard question really. The seller has said she will sell her house for £210k. I think it's worth around £205k and had a £204k offer rejected. There is myself (FTB) and a couple going for the house (don't know their circumstances but probably looking to buy their second house). I am probably willing to pay £210k but I'd rather not. It's not my ideal home, but I would like to be in my (or my bank's!) house by easter and there is very little else out there. Do I offer another few grand (say £207k) and risk losing the house or do I offer the £210k and almost certainly get the house over the other couple?

Just looking for opinions really to help me make my decision. Opinions from both a buyers point of view and sellers point of view and stories of any similar experiences very welcome.

Mojisola

None of us can say what the seller would do but if she has two buyers interested in the property, I'd be surprised if she let it go under price.

Offer what you want to pay - which is a combination of what the house is worth and how important it is for you to get it now. If she turns you down, you can keep increasing your offer and hope you outbid the other potential buyers.

electrodent

Scrootum wrote: »

Are houses selling in your area?
How does the price compare to similar?

Yeah, most houses are selling pretty quickly at the moment. And with it being December there's a dearth of good property out there.

Next door (identical house) sold for £194k in 2011. Zoopla says the current value of that property is £199k but that feels too low.

drdpj

It's really about what you're happy to pay for it - if you can't get it for what you think is a fair price, then walk away. You've got to go in with the same mentality you would in an auction - don't let the thought of "winning" against the competition get the better of you, otherwise you'll end up paying more than you want to for something you didn't really want that much in the first place

d.