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Overpriced house- offers?
Kirkii27
Posts: 134 Forumite
Hi,
I have viewed a property which needs a lot of work doing. It’s up for 150k it’s a 3 bedroom semi detached bungalow with a garage.
I have viewed a property which needs a lot of work doing. It’s up for 150k it’s a 3 bedroom semi detached bungalow with a garage.
The kitchen and bathroom need ripping out, one of the bedrooms has damp on the wall under the window. This property has been empty for a while. The whole house needs new flooring and redecorating which I wouldn’t include in the offer I would put in as we all don’t have the same taste.
I’m just wondering what offer you would put in as a two properties on the same street one being a 2 bedroom bungalow was up for 120k about 3 months ago. There was also another 3 bedroom bungalow in better condition a few doors up was up for £135k about 6 months ago.
I’m a first time buyer so any advice would be great.
I’m a first time buyer so any advice would be great.
0
Comments
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How much do you want the property? how much value can you add to it? is it a keeper or just for the next few years?How much money do you have so what is your top offer?How much money do you think you need to do the renovations etc?For my house I put in an offer £5k under asking price and got the house, which was already at a low asking price, I guessed about £15k for renovations, came in at £17.5k so I was well happy, I have added about £45k to the value.Breast Cancer Now 100 miles October 2022 100/100miles
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Id wait for a better option to come along tbh. Literally the only thing as a first time buyer you want to have to do is paint in your preferred colours. Unless youve got a 20% deposit to secure a good rate and surplus cash to change things to your taste.1
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Sounds like a money-pit with a deluded vendor.Kirkii27 said:I have viewed a property which needs a lot of work doing. It’s up for 150k it’s a 3 bedroom semi detached bungalow with a garage.The kitchen and bathroom need ripping out, one of the bedrooms has damp on the wall under the window. This property has been empty for a while. The whole house needs new flooring and redecorating which I wouldn’t include in the offer I would put in as we all don’t have the same taste.I’m just wondering what offer you would put in as a two properties on the same street one being a 2 bedroom bungalow was up for 120k about 3 months ago. There was also another 3 bedroom bungalow in better condition a few doors up was up for £135k about 6 months ago.I’m a first time buyer so any advice would be great.
Find another property. No, seriously.
To get this to the same standard as the £135k place will probably cost you £30k, at least.
If the vendor thinks it's worth £150k, what are the chances they'll agree to sell it for less than £100k? Zero.2 -
We have 50k deposit for the property and around 5k saved to do the property up0
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I will just walk away, no point to waste time and money. If the vendor reduce the price in the future, come back and see it again.2
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Don't overlook the fact that you would be buying in a high risk flood area.0
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My father in law has lived on this estate for 5 years. His neighbour has lived on here for over 50 years and it never been flooded! They are also facing the beach. This property is set back on the estate.0
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