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What to offer Liverpool
Twentiesgirl
Posts: 69 Forumite
Hello
Any help would be really appreciated!
I am a first time buyer who has found a property that I really like and have now viewed it.
I am stuck as to what to offer as I don't know what I am doing! The property is in Liverpool and is a small property. The last time it sold was years ago according to sold prices but it seems to have been put on the market for 100,000 back in 2015 so I am assuming it didn't sell unless the sold house prices aren't accurate?
The property is now on the market for 120000 which seems a large increase and I was wondering if anybody could give me advise on what sort of price I should be offering?
Thank you!
Camilla
Any help would be really appreciated!
I am a first time buyer who has found a property that I really like and have now viewed it.
I am stuck as to what to offer as I don't know what I am doing! The property is in Liverpool and is a small property. The last time it sold was years ago according to sold prices but it seems to have been put on the market for 100,000 back in 2015 so I am assuming it didn't sell unless the sold house prices aren't accurate?
The property is now on the market for 120000 which seems a large increase and I was wondering if anybody could give me advise on what sort of price I should be offering?
Thank you!
Camilla
0
Comments
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Without a link it isn`t really possible to say.0
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Why do you think the price it didn't sell for 2 years ago is relevant ? Was it in a poor state? Did the owner just change their mind about selling for personal reasons?
What are other houses in the vicinity of similar size selling for ?
What have happened to house price so in the vicinity In the past 2 years? Where I live a £100k flat 2 years ago would be £130-140k now0 -
Just to preempt Crashy Time, if you post a link he will simply say "That's barely worth £50K", despite having no knowledge of the local area, or anything really. That's all he ever does; it can be dangerous misinformation to people who don't know his sole purpose is to talk down the market. As somebody who continually gives false information which he knows to be false, he really ought to be banned. Just a warning for you.0
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You have to work the price out by finding what similar houses in the same area have sold for. Actual sold prices not what they were put on the market for and they have to be recent sales. It is no good comparing the price of a property in 2015 with a price in 2017.0
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Enter the postcode here for details of the sales of similar property.
http://www.rightmove.co.uk/house-prices.html
Compare the recent sales and work from there.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
ScorpiondeRooftrouser wrote: »Just to preempt Crashy Time, if you post a link he will simply say "That's barely worth £50K", despite having no knowledge of the local area, or anything really. That's all he ever does; it can be dangerous misinformation to people who don't know his sole purpose is to talk down the market. As somebody who continually gives false information which he knows to be false, he really ought to be banned. Just a warning for you.
"Dangerous misinformation"? :rotfl: I suppose "Offer over asking", "Don`t go in too low or they won`t take you seriously" etc. isn`t dangerous (to your finances) information? BTW giving an opinion on what something is worth isn`t "false information", it is stating an opinion.0 -
You have to work the price out by finding what similar houses in the same area have sold for. Actual sold prices not what they were put on the market for and they have to be recent sales. It is no good comparing the price of a property in 2015 with a price in 2017.
Good advice, and you also have to bear in mind that if there is a recession due to Brexit, interest rate rises, or maybe more tax changes for BTL leading to a flood of 1 and 2 beds hitting the market, you may end up in negative equity.0 -
"... you may end up with a lower property value" would be a more accurate assessment, unless you have inside knowledge of the OP's deposit...?Crashy_Time wrote: »Good advice, and you also have to bear in mind that if there is a recession due to Brexit, interest rate rises, or maybe more tax changes for BTL leading to a flood of 1 and 2 beds hitting the market, you may end up in negative equity.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Crashy_Time wrote: »"Dangerous misinformation"? :rotfl: I suppose "Offer over asking", "Don`t go in too low or they won`t take you seriously" etc. isn`t dangerous (to your finances) information? BTW giving an opinion on what something is worth isn`t "false information", it is stating an opinion.
That's not what you do, is it. What you do is pretend you have knowledge and say, inevitably, that any house is only worth a fraction of the asking price. You're a fool and a liar and you should be banned because what you do can't help people and can only hurt them. Because you lie. Your "opinion" is driven by your agenda and even you don't believe it to be true.0 -
kingstreet wrote: »"... you may end up with a lower property value" would be a more accurate assessment, unless you have inside knowledge of the OP's deposit...?
Or "You may end up losing money", most people understand that I think?0
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