Making an offer on an overpriced house

ellie27

Everyone I know who bought in 2007 has a house worth about 10% less than the price they paid for it. Going by that I think your £190k sounds accurate.

Remember just because its on at £210k doesnt mean they expect to get that. If they put it at £195k then they would maybe have folk starting offers round £180k. This way if they price at £210k they might have folk offering at £190k upwards.

I definitely agree with speaking to the agents face-to-face.
I had never went into a high-street agents before, always called up.

There was a house I was interested in, I went in and I was amazed at how much info they offered upfront. They told me the valuation on the Home Report was way over the top. They told me the sellers were realistic and know they were not expecting that. They even told me how much the sellers would accept! In the end they accepted less than that value!

Go into the agent and speak to them, they want rid of the house remember so that they can get their fee!

Good luck!

Loopy28

In my area, house are selling for at least 10k more than 2007 values, but each area is different.

It depends on the sellers circumstances, they might not be able to lose 15k by selling for this much less than they purchased it, on the other hand they might need to sell or accept that they overpaid or that prices have decreased in the area since 2007.

All you can do is offer 190k and wait for their response.

Hoploz

In my area houses that I looked at to buy were 400 and are now 500. There are no rules here, it's all down to the local market.

You have to compare with what else is going up for sale and going under offer quickly, that's the best guide. A house that sold 4 months ago would quite possibly be part of a chain and as such the price could have been agreed some months beforehand, so before you judge against a Sold price, consider the changes in the market in recent months as well.