Is it worth looking at houses over budget?

nomoneytoday

What's the worst that can happen? If they say, "no" then you can move on or negotiate

pmlindyloo

Although it's true that houses are only worth what you pay for them it is worth doing your homework before you view.

Look at similar properties and see what they have sold for, compare with the house you want to view, look at how long the property has been on the market, look at what the house was bought for etc etc Don't use Zoopla - the valuations are way out of line.

There is never a certain way of finding out how much a house will sell for. Sometimes if you visit the estate agent they often tell you if they think the seller might take a reduction/or their circumstances/or show you properties above your budget because they know something you don't know!

if you do this then you may avoid wasting people's time and not falling in love with something you can't afford.

HappyMJ

Melaniep101 wrote: »

We've been offered £370,000 for our house despite it being on for Offers in excess of £399,950. There's no way I'd accept £30k less for our house.. we're also in the south east

True but what if you're house had been on the market for 6 months or more and you really wanted to move on with your life yet didn't want to look desperate by lowering the asking price. Some sellers do hope for a lot more than they'll ever get. Maybe your house is worth £370,000. It's a difficult one. Selling at a lower price than you otherwise wanted enables you to move on sooner rather than later.

chelseablue

Melaniep101 wrote: »

We've been offered £370,000 for our house despite it being on for Offers in excess of £399,950. There's no way I'd accept £30k less for our house.. we're also in the south east

Just out of interest did they say why there offer was £370,000?

ellie27

Yes, you should look at houses up to 10% or so over your max budget. A house that has just come up for sale marketed at £385k, it is unlikely you would get it for £360k as its just on the market. If its still that price in a couple months time, well who knows!

If I were you I would view it anyway.

Our budget was £300k
My husband saw a house online at offers over £330k - I laughed at him!
4 months later it dropped to offers over £300k, so we viewed it........ 9 weeks later we are living in the house!! Bought for £302k!

Good luck!

getmore4less

Melaniep101 wrote: »

We've been offered £370,000 for our house despite it being on for Offers in excess of £399,950. There's no way I'd accept £30k less for our house.. we're also in the south east

Unless it is worth more than £400k you are potentialy shutting out a chunk of the market.

Offers over and a keen(highside) price smack of unrealistic seller and some people just won't bother with them even if they can get into the £390s

The other issue is you will be in the upto £400k searches which is not your target market but not in the £400+ searches where you want to be.

Landofwood

Melaniep101 wrote: »

We've been offered £370,000 for our house despite it being on for Offers in excess of £399,950. There's no way I'd accept £30k less for our house.. we're also in the south east

For a start your Estate Agent is stuck in the past.

Nowadays properties are found on Rightmove. Someone enters their desired location and a max budget of £400k, and they see pages and pages of houses listed at exactly £400k.

Where is your house? Lost on page 20 because your stupid Estate Agent listed it at £399,950.

Grenage

Yes, it's worth it; there's no harm in offering. A house is only worth what people are willing to pay, not what people are willing to accept.

chelseablue

Just had a look at actual sale prices for one of the roads we like.


Last house to sell completed in March this year and sold for £360,000

Melaniep101

chelseablue wrote: »

Just out of interest did they say why there offer was £370,000?

They increased it to £380,000 so I would hazard a guess that they were chancing their arm.