What would be reasonable?

Alphamare

To offer on a property that has been on the market for a year?

It's out of out budget but if they took an offer? The property was on at 165k now up to 170k? Why? We could go up to 155 at a push but 150 would be more comfortable.

Too low? It's an ex new build. It's about 2 years old but there is no listed last sold price. I know that new builds have a premium. Why hasn't it sold? We know the area (and have seen the house externally) very well, and have a viewing booked in for next week.

pinkshoes

No ask no get!

dimbo61

If you like the place offer what you can afford and walk away if they are not interested

Alphamare

Yes thank you both. That's exactly what we thought/felt.

It looks like it could be perfect for us. We would just offer up to our max then walk away if not. I just wanted to check that it wasn't seen as too low?

GalaxyStar

Alphamare wrote: »

Yes thank you both. That's exactly what we thought/felt.

It looks like it could be perfect for us. We would just offer up to our max then walk away if not. I just wanted to check that it wasn't seen as too low?

Worse thing they can say is no, if you offer your best and final you can leave it on the table if they turn it down, until you find something else. With it being on the market for over a year though it sounds like it's a possibility the vendor cannot take less to allow them to move which may be the reason its not sold so prepare for that!

But like I said you can leave it on the table then they can come back to if they can

Davesnave

Alphamare wrote: »

To offer on a property that has been on the market for a year?

It's out of out budget but if they took an offer? The property was on at 165k now up to 170k? Why? We could go up to 155 at a push but 150 would be more comfortable.

On the market a year and price increased by £5k to reflect the improved market?

They'll likely be in no hurry, or no position to reduce, but as others have said, the worst you can do is offend people you don't know who have an overpriced house.

If they wanted to move out after only a year, I would want to assess whether there is something like a neighbour issue behind the sale, rather than an aspirational or practical one.

Alphamare

It's actually a little older than we remember (saw it being built) it's three years old and I am assuming this owner bought it new.

We could stretch up to 160 at an absolute push. I will definitely ask all the questions, about why so long on the market. It's price increased very early on after about two months only. There had been no discernible change in the market then or even now.

Surely if it's not moving it's over priced?

Davesnave

Alphamare wrote: »

It's price increased very early on after about two months only. There had been no discernible change in the market then or even now.

Surely if it's not moving it's over priced?

Yes, houses that don't sell over a period like that are overpriced, or in rural Wales!

If the price increased after 2 months, it's possible they received a number of offers below what they could afford to accept, so upped the price as a 'strategy.' In today's world of information availability, that would be pretty much doomed to fail.

bouicca21

It might be down to the market locally. A year/ 18 months ago hardly anything was selling in London, then all of a sudden there were loads of buyers and the market went crazy. The ripples may be reaching your area. Put an offer in - you have nothing to lose.

Eviesmummy

Davesnave wrote: »

Yes, houses that don't sell over a period like that are overpriced, or in rural Wales!
.

Oi! Nothing wrong with rural Wales!;)

Talk to the estate agent, ask about previous offers and what they think the vendor might accept (although take this with a pinch of salt). Here (in almost rural Wales) people are actually putting their prices up against EA wishes because of the perceived increase in the market. Being greedy. In actual fact they are selling, but at the same price as they have over the last two years. Vendors are having to accept lower prices than they want because surveys are coming back with more realistic figures, or loose the sale. I might be a similar case where you are.

Davesnave

Eviesmummy wrote: »

Oi! Nothing wrong with rural Wales!;)

Where did I say that there was?

However, I have plenty of experience. Sold our English house in 2008, having discounted it heavily in anticipation of a continued crash. The Crash continued, but could we buy anything at a sensible price in Wales in 2009? My sig indicates not. Dozy beggars were in total denial.

Three years after purchasing here in Devon, some of the Welsh properties we viewed were still on the market, at the prices we would have paid in 2009.

Like I said, slow.