help please

lewlew_2

hi i am currently looking at a house on the market for 250000 it has been on the market for 7 months and has been reduced in price once already. what would be a sensible offer for me to put on the house ,,also i would be paying cash if that would make a difference .
many thanks lewlew

phlash

First, can you answer my question:

"How long is a piece of string, bearing in mind I've cut it once?"

:beer:

lynzpower

When you say you are a cash buyer, do you mean you DO NOT NEED A MORTGAGE?

If this is the case id offer 235 with proof of cash.

phlash

lynzpower wrote: »

When you say you are a cash buyer, do you mean you DO NOT NEED A MORTGAGE?

If this is the case id offer 235 with proof of cash.

With the greatest of repect lynzpower, it is absolutely impossible to tell what to offer. We have no idea about the details of the house, area, previous purchase cost, value of the reduction, situation of the vendor, state of the market in the area, schools etc etc.

Offering £235K like you say sounds like a pretty standard offer and not a cash buyers offer, they may have added £15K though because they painted the garden fence and thought it looked nicer - we just don't know.

As a cash buyer you are at an advantage because you can move quickly. It means you can negotiate hard, since you can guarantee the sale compared to someone seeking finance or in a chain. You shouldn't have an issue with negotiating hard, you are talking about £1/4 Million don't forget!

To really get yourself in a negotiating mood, make yourself embarrassed by your offer and start from there.:cool:

pcwilkins

lewlew wrote: »

hi i am currently looking at a house on the market for 250000 it has been on the market for 7 months and has been reduced in price once already. what would be a sensible offer for me to put on the house ,,also i would be paying cash if that would make a difference .
many thanks lewlew

Offer as much as you think the house is worth :-s

Or was it a trick question?

Peter

lewlew_2

hi again , i dont know how much the property was reduced from and no i will no be needing a morgage got a second viewing this week should i deal direct with the seller or put an offer in via their estate agent
again many thanks

pcwilkins

lewlew wrote: »

hi again , i dont know how much the property was reduced from and no i will no be needing a morgage got a second viewing this week should i deal direct with the seller or put an offer in via their estate agent
again many thanks

At the end of the day it's your decision! If I see a car advertised for sale and want it, I do my homework and find out how much it is worth on average --- then I ask myself whether I can afford it --- then I ask myself do I want to spend that amount of money on it --- then if I don't, I ask myself how much would I be willing to spend on it? Then I offer that amount; if it's turned down, then that's tough, if it's accepted, then I pay the money and get the car.

By the way, I saw a packet of crisps in a shop for 35p --- should I buy them or not? I really can't decide.

Peter

advent1122

pcwilkins wrote: »

Offer as much as you think the house is worth :-s

Or was it a trick question?

Peter

Offer LESS than you think it is worth.

They can only say no.

pcwilkins

advent1122 wrote: »

Offer LESS than you think it is worth.

They can only say no.

My point was that the price you offer is a personal choice and is based on how much you want the house (i.e. what is it worth to you?) as well as more quantitative factors (location, size, condition, etc.)

Peter