What should we offer

PROUDMUMMYTOTHREE

hi the house we have fell in love with is up for £169.000 we do think it is overpriced and it has been on the market for 1 year,
how much should we offer? we are going for a second viewing in a few days so would like to make an offer after that

Soleil_lune

Well, whatever you think it IS worth; take that figure and take 8-10% off. So if you think it's worth £160,000: offer £14-16K less..., so around £145,000. Sounds too low? Maybe it is.. But if you start low, you will get a better deal.

How much do you want to pay?

Also, 'haggling' can create the risk of losing it, but if it's been on the market for a year, so I don't think there's any danger of that happening.

minx1985

Hello Proudmummy. Do you know why it hasn't sold in all this time? How much are similar houses on the street going for? Have you looked at sold prices on the major property websites? Is it freehold or leasehold? Can you add value to the house or has it been "done"? All these factors should help shape your offer but ultimately there's no point paying over the odds. Offer what you think it is worth, the worst that can happen is that the vendor says no.

Do you have a link to the property you can post?

PROUDMUMMYTOTHREE

it has had a lot of work done to it and it is immaculate but we don't want to pay more that £155 this is the average price for neighbouring properties

minx1985

PROUDMUMMYTOTHREE wrote: »

it has had a lot of work done to it and it is immaculate but we don't want to pay more that £155 this is the average price for neighbouring properties

In that case soleil's advice is worth following, and have £155k as your best offer, though if you believe this house is "the one" what's an extra £1-2k for your dream home? Some sellers do price high as they expect people to come in considerably lower (unless you're in London as other MSErs have mentioned on the boards!). Good luck and let us know how you get on.

PROUDMUMMYTOTHREE

would we be cheeky offering £150k as its £20k below the asking price
by the way we are in the north east

Kazza_Monkey

i Dont think offering £150k would be cheeky, they will most likely decline it. But then you can come back with you best and final offer of £155k which will keep the vendor happy and you would be more likely to have it accepted. Good Luck with it x

ReadingTim

The only way to determine any property's true value is to subtract the sum of the digits of your full date of birth from those of the most recent lottery draw, divided by your inside leg measurement, multiplied by the time of day the offer was made, rounding up if made in the morning and down if was in the afternoon. Simply convert that from pounds, shillings and pence to decimal and there you go.

ps - don't forget to carry the 1 in the 3rd column if it's a full moon on the day of calculation. Different rules apply to leap years, high tides, and whether it's bin day

johnswife

We just had our third and final offer turned down, that was £185K, house on for £195K.
We have no idea what this couple want, the EA can't understand them, the vendor just said NO when our offer was given. All she says is they want more.
Bit disappointed but not offering anymore.

SOMEONE_3

johnswife wrote: »

We just had our third and final offer turned down, that was £185K, house on for £195K.
We have no idea what this couple want, the EA can't understand them, the vendor just said NO when our offer was given. All she says is they want more.
Bit disappointed but not offering anymore.

I should think they want £195K

johnswife

Well she ain't going to get it from us. It's been on for nearly a year so she obviously is prepared it wait.