Offering less than “offers in the region of”

Monkeychops16

Hi all, going to view a house today that’s advertised as “offers in the region of £215,000”. It’s quite run down from the pics and the last sale price on the street was in Sep 16 for £188,000. What price could you suggest we go in with if we liked it? Have house prices increased so much in a year?

Thanks in advance

AdrianC

You can offer what you like. 3p and a bag of Haribo, if you subscribe to Crashy's logic.

Whether the vendors accept it is the question - and only they know.

fromtheshires

Without any more detail (link to property / area etc) its hard to gauge. Prices have gone up in some parts, stayed stagnant in places and down in other regions and £27000 in 13 months could actually be quite reasonable or too much depending on the area.

Offers in the region of mean around that price which is what I take any house price to be regardless of what the price states (guide price / OIRO / OIEO).

Put in an offer for what you tihnk its worth.

Monkeychops16

Ha well it would be good if they did accept that! It’s been on for a while too, so hopefully they are open to lower offers. We shall see ��

Monkeychops16

That’s really helpful thanks. I’ll see if I can post the link ����

Monkeychops16

Chestnut Close, Chester
http://www.rightmove.co.uk/property-for-sale/property-58692193.html

tom9980

It's worth less than £200k but it's not rundown. The wardrobes need ripping out and a new kitchen but what is there looks in ok condition from the pictures. I would offer £190-5k max personally.

Monkeychops16

Marvellous thanks ��

LEJC

If you actually look what else there is in the search are of 1/4 miles in a 3 bed...it doesnt throw up much competition...

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=POSTCODE%5E157130&maxBedrooms=3&minBedrooms=3&maxPrice=220000&radius=0.25&includeSSTC=false

my gut feeling is its overpriced but with nothing much else in the frame then certainly for the time being there is no need for them to accept a much lower offer unless they are desperate for a sale.

how does it compare to others that you have looked at....and how wide are you able to extend your search area.....going out to 1/2 mile brings up a few more and opens it up a little bit.

Monkeychops16

I totally take on board what you are saying. This is a desirable area in Chester, we also like another area called Upton. The children go to school in Upton and can not be moved (special needs). We are viewing a much better house (in my opinion) also today but it’s top of the budget and 10 mins away so my partner thinks it’s too far :-(

LEJC

So which house is over budget...this one or the other....?

Have you got the classic location right but house overpriced....versus slightly out of location but on budget dilemma.

sadly you probably need to take on board the view of the person doing the school run day in and day out....so you may have to go with your partners view....but do the journey a good few times over the next few weeks...its surprising how easily you can adapt to a slightly longer commute.

You've said it yourself...your looking in a "desirable area"...so yep potentially prices are increasing from the last sale a year ago.