Is this insulting?

geordiepaul2001

Hi all,

My Wife and I have seen a house we really want to buy.
Its on the market for 'offers around' £110,000.

During one of our viewings the vendo sid that she had broken u with her husband and needed a quick sale to finalise things with her ex.
The house has been on the market for 9 months with no offers.

As I have no home to sell (no chain), would an offer of £100,000 be insuling?, or should I start lower/higher?

Paul

dmg24

Hi Paul,

I think £100K would be quite a fair offer. Do you have room to go a little higher if they wish to negotiate?

Best of luck! x

BettiePage

Start lower and work up to £100k.

What did they pay for it and when?

oliroe

Needing a quick sale and no offers after 9 months on the market...I'd have a mortgage offer behind me and go in at £90k

geordiepaul2001

We are hoping to not have to surpass £105,000.

I have searched for the house but cannot find it.
I can find a similar house in the same street which went for £50,000 in October 2002 - http://www.houseprices.co.uk/e.php?q=NE27+0HW

Does that help?

pnq06

I say start lower and work your way upto £100,000- Remember that EA's always add extra on to get bigger profits.

I think she'd be pretty glad if she's desperate and been trying for 9 months

geordiepaul2001

oliroe wrote: »

Needing a quick sale and no offers after 9 months on the market...I'd have a mortgage offer behind me and go in at £90k

90k would afford us a far better level of living (less outgoings per month), the only trouble is I have no experience of buying/selling houses. Even my parents bought in the 70's/80's and aren't familiar with the current housing market.

Paul

m00m00

if they say no to your first offer, you can always come back with another one.

especially after it's been on the market for 9 months

geordiepaul2001

Is there a set amount by which a potential buyer should increase there offers. Say £2500 or £5000 etc.

m00m00

there's no set rules, just go with whatever you feel comfortable with.

The seller may come back with a counter offer when you put your first one.

example, you bid 90k seller says she'll take 100
might as well try 97500 and see what happens, as you can always bump it up to 100 (if you are prepared to pay that)

Gorgeous_George

Offer 10% less than you expect to pay, so £90K or £95K would be a good start.

Aim to meet half way but increase your offers by £1k or so (i.e., small increments). Don't rush in with a revised offer if one is rejected.

Tell them you will try to borrow extra from family.

Emphasise your position with regard being ready to go.

Finally, hope that the vendor doesn't read this forum!

It's just a game of poker.



GG