Advice on what to offer

JackHill

Hello,

I was wondering if some you could kindly advise how much you'd place a first offer on this property - http://www.rightmove.co.uk/property-for-sale/property-38188424.html - it's been on the market for nearly 2 years.

Thanks in advance.

ConfusedofYorkshire

i'd go with 10% less than asking price as its been on the market so long.
its already been reduced from 130, but the last reduction was september and still no takers. they'd probably be happy to have some interest.

i am guessing its leasehold. do you know how long it has left? that could be what is stopping it selling perhaps?

JackHill

So you'd open with £103.5k that seems high too me.

I'm not sure about the lease, the Estate agent is sending a copy in the post so hopefully we will receive that tomorrow to see how longs left.

Thanks for the reply.

ConfusedofYorkshire

Go even lower then. Some are nervous about offering too little in case they annoy the vendor, and 10% is fairly widely accepted as somewhere to start.

However, better advice might be to decide what you think it's worth/highest you're willing to pay, and go 10% less as a starting offer.

tigsly

do you think they've been holding out for asking?

Work out what you want - offer a few grand less than that so you can go up.