Buying a house with a 50 percent deposit, how much to offer?

RichyP77

Deleted_User wrote: »

The three bed does look more updated than the 4 bed. Plus the garden is much nicer.

But the 4 bed has the extra bedroom and a garage.

I'd definitely go in lower on the 3 bed. How much though i'm not sure, depends how 'hot' the area is for property.

thanks yeah i do like it and the area is quite hot at the moment but dont want to over pay for it
will start small and try and work my way up to a price

jimbog

The downstairs rooms are too narrow

comeandgo

I read your posts and think this person does not have a house that he loves. I suggest you keep looking. One you " like" is not good enough in my opinion. You will know the one when you find it and then you will be too scared to go in low in case someone out bids you or the seller thinks you are a waste of time.

need_an_answer

I believe that you should never make more than 2 possibly 3 offers on a property.

You can't just start low and increase in small increments,the vendor and their agent will see you as a potential time waster.

If your first offer is rejected,go back with the final offer hopefully being more realistic...if that is rejected ask what the vendor is willing to accept you can then either offer it or walk away.

Herbalus

If you have a 50% deposit, you should offer exactly twice your deposit.

If you offer less than twice, your deposit will make more than 50% of the purchase price.

G_M

Herbalus wrote: »

If you have a 50% deposit, you should offer exactly twice your deposit.

If you offer less than twice, your deposit will make more than 50% of the purchase price.

:T




:rotfl::rotfl::rotfl::rotfl:

markin

And the bedrooms are too narrow.

This one has wider rooms and better kitchen, sold in jan for £252

www.rightmove.co.uk/house-prices/detailMatching.html?prop=74458637&sale=56057438&country=england

Use copy/paste

240 is where i would start, but i would look for a better house.

steampowered

Depends how much you want the house really.

If you are intending to stay there for many years, it doesn't really matter if you overpay a bit to get the house you want.

No harm in going with an offer a bit below asking - as long as it is fair bearing in mind the price of other houses in the area.

Crashy_Time

Herbalus wrote: »

If you have a 50% deposit, you should offer exactly twice your deposit.

If you offer less than twice, your deposit will make more than 50% of the purchase price.

Good point, in the case of this house a 100k deposit should more than do it.

Herbalus

Crashy_Time wrote: »

Good point, in the case of this house a 100k deposit should more than do it.

Nope, you’re not quite getting it.

If the £100k deposit in your example is “more than” doing it (when the OP wants a 50% deposit) this implies the purchase price is less than £200k and the deposit is then more than 50%.

Try again.