How much lower could I offer?

lincroft1710

Pipjo wrote: »

However the price is 50k more than I can afford. Would you go in offer 60k less? Is it even worth considering or just forget it?

Look at property you can afford

Cakeguts

So in your budget there is the bungalow on the main road? That is what you can afford in bungalows. So you are going to be looking for a bungalow on a main road that doesn't need to have an annex finished. Or you can look for a semi detached property not on a main road. Detached bungalows in cul de sacs you can't afford.

amateur_house

If it's overpriced and you make a low offer which gets turned down, you can leave it on the table and the estate agent would contact you if other offers are received or the price is reduced.

I offered £15k under on an overpriced house (asking price £115k). It was turned down, and the house remained unsold 8 months later, by which time the price was reduced to under £100k. I did a second viewing as I did still like the house, but the condition had deteriorated so much (damp) it needed too much work by then. It did sell a few months later, but probably for less than my initial offer.

henry24

3 years ago I had my house up for sale and was getting a lot of viewers so had a look at another that was perfect for us up for £210000 told them we hadn't sold and was just looking incase we did, two days later agent rings up to see what we thought and could we make an offer so told them the same but said I could afford £173000 without waiting for my to sell. Two days later they accepted my offer so give it a try you never can tell.

AdrianC

Bungalows are in short supply and, with an ageing population, high demand.

Crashy_Time

amateur_house wrote: »

If it's overpriced and you make a low offer which gets turned down, you can leave it on the table and the estate agent would contact you if other offers are received or the price is reduced.

I offered £15k under on an overpriced house (asking price £115k). It was turned down, and the house remained unsold 8 months later, by which time the price was reduced to under £100k. I did a second viewing as I did still like the house, but the condition had deteriorated so much (damp) it needed too much work by then. It did sell a few months later, but probably for less than my initial offer.

Yes, in this market you can just let them sit there and sweat, no one is going to come along and "snap it up" anymore....:(

Crashy_Time

AdrianC wrote: »

Bungalows are in short supply and, with an ageing population, high demand.

They have to find a buyer for the house they are in now first though, and over-tapped Ponzi schemes are not so good at producing those unfortunately....:o

Davesnave

Pipjo wrote: »

Bungalows are going up in price so fast!

Blame the birth rate after WW2.

Think Godwin's Law is just about to rear its head....... It's all that bloke's fault!:rotfl:

Crashy_Time

amateur_house wrote: »

If it's overpriced and you make a low offer which gets turned down, you can leave it on the table and the estate agent would contact you if other offers are received or the price is reduced.

I offered £15k under on an overpriced house (asking price £115k). It was turned down, and the house remained unsold 8 months later, by which time the price was reduced to under £100k. I did a second viewing as I did still like the house, but the condition had deteriorated so much (damp) it needed too much work by then. It did sell a few months later, but probably for less than my initial offer.

Interesting.

ERICS_MUM

Lots of bungalows in this neck of the woods sit on big plots of land, presumably built back when land was cheap.

Now they are being bought by developers who tear them down and put up 2 five bedroom houses. Kerching. Shame for anyone actually wanting to live in a bungalow !