How much to offer

murphster

Hi, I am thinking buying a house, I am yet to view it but have viewed the same style in the area so I know layout, size etc. and know I like it The asking price is offers over 139,000. The house was previously on the market at 149,000 but removed mid September, and just came back on yesterday with a difference estate agent. I can't find a previous sold price, so think the same owners have had it a long time, the last one to sell in the street was in May 2013 and went for 128,000.

My question is, how long do you think I should leave it before going to look (I'm guessing it was taken off because of a lack of interest so don't think there will be a big rush and I don't want to seem too keen). And then, how long before making an offer and for how much. It is a two bedroomed bungalow in need of a loft conversion and modernising, new kitchen etc., but I don't mind that. Also there is a new build development around the corner with three bedroomed houses at 170,000-200,000.

looknohands

I would seem keen... we had an offer accepted on a house yesterday and I think being second in and offering within 10 minutes of leaving meant the vendor took us seriously. You could come across as indecisive if you dwell too much. Though it sounds as though the house in question is a slow mover, but you still want it right?

G_M

Go and see it.

If you like it, make an offer.

Calculate your offer based on

* how much you like/want it
* how much you can afford
* how much other properties in the area of similar size/condition are being offered for
* how much other properties in the area of similar size/condition have sold for
* how much other properties in the area of similar size but better/worse condition are being offered or have sold for

Ignore 'tactical' considerations.

edit: you have no idea why it was removed from/replaced on the market. Maybe it was SSTC but the buyers could not get a mortgage. Or got divorced. Or........

[Deleted User]

How someone can complicate buying a house this much before even going to see it is beyond me.

Offer what you think it's worth, which you can only know once you've been round to see the place. It's that simple.

Bear in mind you might get there and hate it (depsite thinking you can tell from a property listing) in which case all this hypothetical game playing will be for nothing.

Freeraine

`I'd go right away, if only to do a 'walk or drive by'. I would want to see the whole picture.

For me, the orientation of the plot is an important consideration (because I'm a gardener), but it may not be for you. I'll want to see what rooms face north, if any, and whether there are any obvious nuisances like street lamps shining into bedrooms. I want to assess what kind of neighbours I'll have and spot the tell tale signs of ones that are likely to annoy me.

In recent viewings, I've been to houses that I thought would tick all the boxes only to find that there was an insurmountable drawback (eg looking directly from 'my conservatory'' into next door's conservatory as they were having a game of cards! They waved and I waved back, but I didn't fancy such close encounters every day.)