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What price to offer?
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Debras_Angel
Posts: 620 Forumite


Hi Guys,
I see some people are still here who were around 2 years ago when I was buying my now current house.
Anyway we've seen a small 2 bed bungalow on the market for £214,950 and wondered what you would think was a fair offer.
We haven't been looking for anywhere but this has come up in our village and is in an excellent location. if this had been 3-5 years down the line then the time would be right but we feel that if we go for it now then this is our final move, if there ever is a final move!
The house is at the end of the road and very private and the garden is the same as not overlooked by anyone.
The down side is all the rooms in the bungalow are small it was bulit in 1960 and it looks like it hasn't been upgraded since then apart from a small sun room on the back.
It will need a lot of money spent on it as everything will need to be ripped out, the electrics, windows etc changed. And because it's small we would want to build into the loft for a master bedroom and ensuite, so we reckon it will cost us 40-60k+ to get it to our standard.
The seller had the previous buyer pull out as the chain fell through. He was packed ready to go and is hoping to still move to his property but can;t till he sells.
I don't want to go in at a ridiculous price as that wouldn't be fair but would appreciate some advice.
Cheers
Debs
I see some people are still here who were around 2 years ago when I was buying my now current house.
Anyway we've seen a small 2 bed bungalow on the market for £214,950 and wondered what you would think was a fair offer.
We haven't been looking for anywhere but this has come up in our village and is in an excellent location. if this had been 3-5 years down the line then the time would be right but we feel that if we go for it now then this is our final move, if there ever is a final move!
The house is at the end of the road and very private and the garden is the same as not overlooked by anyone.
The down side is all the rooms in the bungalow are small it was bulit in 1960 and it looks like it hasn't been upgraded since then apart from a small sun room on the back.
It will need a lot of money spent on it as everything will need to be ripped out, the electrics, windows etc changed. And because it's small we would want to build into the loft for a master bedroom and ensuite, so we reckon it will cost us 40-60k+ to get it to our standard.
The seller had the previous buyer pull out as the chain fell through. He was packed ready to go and is hoping to still move to his property but can;t till he sells.
I don't want to go in at a ridiculous price as that wouldn't be fair but would appreciate some advice.
Cheers
Debs
0
Comments
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Debras_Angel wrote: »I don't want to go in at a ridiculous price as that wouldn't be fair but would appreciate some advice.
/quote]
I'll offer some advice to save you money - stop being so soft!!! There's no such thing as unfair when it comes to making offers. The vendor doesn't have to accept your offer, and the house is only worth whatever the best offer they get is.
You can bet that whatever low offer you do put in, it'll be considerably more than the house was worth 3-4 years ago. Given the situation, I'd go in at 15-20% less than the asking price.0 -
Until you put your house on the market and guage reaction to it aren't you just wasting everybody's time by even making an offer?
If I was the vendor I'd tell you to come back when you were in a position to act.0 -
I would put in an offer even if you havent sold yours as it shows the vendor your interested. I dont think it is wasting anyones time. The reason why i say that is, a house i was going to buy had been on the market 9 weeks, i told the agent i wanted to make an offer he refused to put the offer in as i had not sold. The vendor since pulled the house from the market as he thought no one was interested, i had my house already on the market and it sold within a week. But it was too late.
With regards to the offer i would go on the www.nethouseprices.co.uk. type in the postcode and see what the other houses are selling for and use that as your starting position for making an offer.
You will be surprised houses go for no where near what your led to believe, i went to buy a property which was on the market for 289.000 i went on to to nethouseprices and was surprised to see that houses identical had only sold for around the £235.000 mark in the same road. ??????? so beware about being all nice, just think of your self as no one else will when it comes to this sort of transaction GOOD LUCK0 -
If you are nice and offer say an extra 25k over what you could get away with offering, that is an entire year of your life wasted for being NICE.
Buying a house isn't the place for being NICE it's the place for being utterly ruthless.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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