FIrst time buyer - advice pleass

Stevemartin91

Hi there.

Been renting for a while with gf now we have deposit/mortgage put in place we are ready to bid on a house we have seen.

House report £150k
House price: offer in the region of £140k

Simple question is we want to obviously pay less than asking price. Its a 5 bedroom house but we wantto change to 4 bedroom with ensuite.

We would need to change carpets throughout
Lick of paint throughout
Front garden turned into drive

Im needing advice on what we should offer - its been on the market since may... Plenty of viewings but 0 bids(i think 5 bedrooms are un needed for most people) ive also been told the seller just wants rid of it now

So my question to you is what would you pay? I dont want to seem cheeky by offering below the asking price.

Thanks

Chanes

Go on to Rightmove and see what similar have sold for in the area. Simple methinks.

Lord_Baltimore

Stevemartin91 wrote: »

I dont want to seem cheeky by offering below the asking price.

It isn't 'cheeky' to offer below the asking price; it is expected.

Stevemartin91

10% below? £126k. I dont want the guy to dislike me ha ha

dirty_magic

If my house was on for 150k and someone offered 126k I'd laugh at them. As someone above said, I'd look at what others have sold for first and go from there.

We weren't sure what to offer on ours either as none similar had sold recently. Our house was on for 170k and we offered 160k in the end. They refused and met us half way.

Unless the work you think needs doing comes up in the survey it's unlikely to affect their decision. Most of the things you've listed are things you'd like to do, not things that need to be done.

Katy012

Most people put in a cheeky offer to start with thats well below the asking price, then theres plenty of room to negotiate. Sellers expect a few cheeky offers and wont be surprised. The fact that they have listed it as "offer in the region of" shows they are open to negotiation. ( My house was on for sale at £132,000. my first offer was £122,000. My final offer was £124,999 to stay under the stamp duty threshold and a condition that they they paid my legal fees and that was accepted) so theres lots of room for movement in properties especially if they are keen to sell and even more so if you have no chain!!! You are the best type of buyer as they dont have to wait for you to sell anything so you are in a PRIME position! Good Luck!

kellaree

Don't worry about being cheeky, decide on what you think the house is worth and what it is worth to you. If you like it but not for £135k then offer under that etc.

Make sure you stand your ground as well and don't let the EA's take the mick out of you. If they sense you are desperate/naive they will exploit that.

8-of-us

Offer what you want to pay, make sure you put forward what strong position you are in that could make all of the difference