Advice on what to offer

apollo9

I would appreciate on advice of what to offer.

The link to the property is below

http://www.rightmove.co.uk/property-for-sale/property-53279592.html

That estate agent always gives a high value and apparently loads of interest in the property.

There is no reason that I can work out why some sell (e.g a bungalow in the area sold without any viewings in 2 days).

My budget is £500k and I know I have a limited amount of flex. Would £500k be a fair offer (just over a 5%) discount? Zoopla suggests a value of around £520k

Thanks

Crashy_Time

My belief is that you will regret it if you pay (borrow?) 500k for that. Others may disagree and think it is a great investment.......

Mickygg

Are number 21 or 9 good comparisons? If they are then look at what house prices have done in your area for the last year or so.
Forget zoopla, when did they last go round to value the house?
There is no set rule what to offer. Asking strangers who haven't seen the property is hardly a good way of deciding on an offer.
IMO when I offer it all depends how much I want the property. My current property with my research was on at a high price, I offered what I wanted knowing I was paying over the odds. Was it the right decision? Absolutely.

On other houses I have offered lower and played hardball and I've lost out on those properties.

Offer what you think it's worth and what you are prepared to pay to secure that property, going in lower to build up to your final price as very few people accept the first offer.

Mickygg

Oh I have no idea what crashy has just said as I block all his nonsense posts but my advice is to ignore whatever he says as he is very bitter about house prices having got the housing market forecast wrong year after year after year.

Crashy_Time

Mickygg wrote: »

Are number 21 or 9 good comparisons? If they are then look at what house prices have done in your area for the last year or so.
Forget zoopla, when did they last go round to value the house?
There is no set rule what to offer. Asking strangers who haven't seen the property is hardly a good way of deciding on an offer.
IMO when I offer it all depends how much I want the property. My current property with my research was on at a high price, I offered what I wanted knowing I was paying over the odds. Was it the right decision? Absolutely.

On other houses I have offered lower and played hardball and I've lost out on those properties.

Offer what you think it's worth and what you are prepared to pay to secure that property, going in lower to build up to your final price as very few people accept the first offer.

Most people don`t have the borrowings now to do that, and that is a good thing because it is a shortcut to negative equity.

betsie

They bought it for £340k in 2012 but looking at decor I wouldn!!!8217;t say they have done any major work to it.

If you can afford £500k max I would offer £490k max and work up from there. If you are in a really good position you need to play on that. They can only say no and you can go up or leave it. You need to also factor in any work you need to do immediately and how much this will cost.

apollo9

I checked out the previous listing as well lol, they have not done to the property except carpet the top floor.

And prices are what they are. They have made a decent gain but so have others. Such is life.

They don!!!8217;t seem to be that many properties around.

Thanks for the replies helps me just to get my thoughts in order

The kitchen

Crashy_Time

[QUOTE=Mickygg;74002190]Oh I have no idea what crashy has just said as I block all his nonsense posts but my advice is to ignore whatever he says as he is very bitter about house prices having got the housing market forecast wrong year after year after year.[/QUOTE]


You read every word. Are you seriously saying this house is worth half a million pounds ? :rotfl:

noddynoo

I wouldn;t pay 300 for that never mind 5!!

Crashy_Time

Yes, it is shocking how people have been conditioned to think average property can fetch big sums of money, or course it worked while the central banks were desperately propping up the debt bubble, but imagine being left holding the bag on that one if you paid 490-500k? Ouch!