Is this a cheeky offer?

missis_amber

House has been on since June for £250k. It was bought last year for £140k and has been refurbished throughout. Previous sales on the street are anywhere between £150-£180. Would £200k be considered?!

AnotherJoe

I very much doubt it, on the grounds that if it would they would surely have reduced the price by now.

Is this offer a prelude to a higher offer, or your last and final (and in which case you are probably looking at properties well out of your price range.

Crashy_Time

Not nearly cheeky enough IMO.


https://www.yorkshireeveningpost.co.uk/property/property-news/property-transactions-fall-21-year-year-areas-2017/

kinger101

Crashy_Time wrote: »

Not nearly cheeky enough IMO.


https://www.yorkshireeveningpost.co.uk/property/property-news/property-transactions-fall-21-year-year-areas-2017/

They've been low for ages, due to lack of supply.

kinger101

You've not given us enough information, but I suspect they'll reject all future offers from you if you offer that much. Maybe your offer is a more realistic price, but the distance between the two is too much.

Look for properties where there's likely to be a middle ground.

Crashy_Time

kinger101 wrote: »

They've been low for ages, due to lack of supply.

Some would say due to a lack of buyers, or banks not lending silly money anymore, but supply will tick up as interest rates rise and BTL/Second home taxes bite. If Corbyn gets in all bets are off on where interest rates can go.

jaelato1

Very cheeky indeed, its only been on market for two months, don't be surprise if seller doesn't entertain further offers from you afterwards. if it's been on market for 1 year then yes cheeky offer all the way.

Crashy_Time

How much did the refurbishment cost?

Gwendo40

I think the question should be is this a cheeky asking price?

Which, assuming the other comparable sales were quite recent then yes, it is.

getmore4less

Stick 200-250 in rightmove and see if you can find something better.
(incl the SSTC as that tells you what others thought were better value)

In a more like this sampling the street is far from being an important factor unless identical(ish) houses are in the sample

not enough info on those 150-180 to have a clue,
If they were better value just wait for the next one at that price

could just put a link and have someone do your research for you.

AnotherJoe

Crashy_Time wrote: »

Not nearly cheeky enough IMO.

It doesn't really matter how "cheeky" it is, even if the owner has totally unrealistic idea about the price, and £200k is too much,they arent going to be accepting £200k after just 8 weeks on sale (and in a dead period what with world cup and summer holidays)

After all you have for years been saying that houses are totally overpriced but how many owners would sell to you at the price you'd offer ? Zero (or you'd have cleaned up). So since the OP wishes to buy a house and not make clear a complete lack of knowledge about house pricing, your advice is worthless to him (or in fact, anyone else)