FTBs - What to offer

ukcarper

iantojones40 wrote: »

Just because >£200k and £210k happen to be in the same ball park doesn't mean that's what the property is worth and the evidence suggests it's not.

What evidence we know nothing about the property apart from the fact that it's been on and off the market for a year.

ukcarper

mrlegend123 wrote: »

I agree, why would you pay over what the property is worth? I believe this type of behaviour drives up house prices.

I would imagine no one wants pay more than a property is worth but judging what a property is worth is difficult and just because one person thinks it's worth less than another it doesn't mean they are right.

Charmer2

Am i allowed to post a link to it ?

ukcarper

Charmer2 wrote: »

Am i allowed to post a link to it ?

I'm not sure I have seen links to property posted but people buying seem reluctant to post.

Crashy_Time

Just be aware that most of the people responding have probably already paid over the odds for a property and want you to do the same so that they feel better about their decision.

ukcarper

Crashy_Time wrote: »

Just be aware that most of the people responding have probably already paid over the odds for a property and want you to do the same so that they feel better about their decision.

That takes the biscuit you are the worse all you do is responding trying to talk property down because you've wasted to much money renting while waiting for a crash.

Mrs.CJP

My first thought is why has it been sold 3 times in such a short time frame? I'd always be wary if a property has exchanged hands a lot in a short period.

Re prices, I think that's simply down to how the market has gone recently.

Re offer, I'd ask just under the £200k. If this is going to be your home and you love it. I think go for it.

When we sold our house (last month) I told our buyers there was 'wriggle room' and when we viewed our new home we asked the seller whether she was open to offers?

It's a fine line between offering a sensible price without offending the seller

AnotherJoe

Mrs.CJP wrote: »

My first thought is why has it been sold 3 times in such a short time frame? I'd always be wary if a property has exchanged hands a lot in a short period.

Re prices, I think that's simply down to how the market has gone recently.

Re offer, I'd ask just under the £200k. If this is going to be your home and you love it. I think go for it.

When we sold our house (last month) I told our buyers there was 'wriggle room' and when we viewed our new home we asked the seller whether she was open to offers?

It's a fine line between offering a sensible price without offending the seller

I don't believe It has been sold three times. It's been on the market by the same seller three times with three agencies.

That could be for any number of reasons, though likely none of them are good. either overpriced, or sellers can't find somewhere to move to are the most likely.

I'd offer slightly below what I thought it was worth according to similar houses nearby, irrespective of what the actual asking price is.

AnotherJoe

mrlegend123 wrote: »

As a FTB, I have been using the rule of 90% of the asking price as a starting offer then negotiating from there. My maximum offer on any house is 94% of the asking prices - regardless.

By doing that you'd miss out on any house that was realistically priced but buy one for more than it was worth (as long as the vendors had priced it sufficiently high ).

FWIW if there was this "rule of 90%" you mention, then everyone would simply add 10% to their asking prices. But there isn't, and they don't. Each case is different. Some people ask too much as they are unrealistic (and won't accept less), others ask realistic prices, others may price at slightly lower than they could eventually get as they need a quick sale. Defining one rigid rule doesn't fit real life and as said may end up with you paying more or missing out on a well priced house or even one that's a bargain price.

Why not ignore asking price and offer slightly below what you think it's actually worth (which may bear only a passing resemblance to asking price) ? If you've been looking and offering for a while you should get a good idea of a reasonable price.

Charmer2

So, had a new email alert from rightmove yesterday telling me that there was a new property listing in my chosen area.

Turns out it's this house again. No change in price or EA this time though.

Is this used as a ploy by the EA to reset the listing date and so sending out a new property alert or can anyone think of anything else why they would do this.

Thanks for all your responses. Feeling very confused about this one.