Advice on what to offer, pretty please?

MaggieMags

This is my first post here, from reading past threads, I know most answers will be ‘only you know what it’s worth to you’ or ‘ no one can tell you that’, but I’d be so, so grateful for any advice. We’re totally stumped.

We viewed a house yesterday that’s up for £185,550. It’s no chain as it’s being sold as the elderly lady who owns it has moved in to her daughter’s house, and they need the money to adapt it all for her. It’s pretty dated and rough around the edges - basically it’s what you’d expect from a house where the owner isn’t quite up to maintenance, but it’s not what I’d call run down. A house a few doors down sold at the end of October for 186, this house was much nicer, recently extended, brand new kitchen and generally just immaculate, although the garden was slightly smaller. Both are end terrace and exactly the same style of house, so comparable.

We’re FTB’s, and will be buying cash, but we’re also in the position where every penny counts. I have a degenerative condition, which meant I had to give up work a few years ago and we never imagined we’d escape renting and actually be able to buy a house. Then we unexpectedly came into just enough money to do so. Obviously the housing market is pretty crazy right now and it feels like the worst time to be doing this for the first time, but we’ve no one to ask for help and advice. I’d like to have a little money left over so I know my husband and kids have a small back up there, but this house at asking is at the very top end of our budget. 

We know with the way the market is they’ll likely get a few offers, so do we risk offering below asking? How much below? It’s only been up for 10 days including the BH weekend, but apparently they want to sell fast.

So, although I know no one can tell us exactly what to offer... if you were in our position, what would be *your* first offer? I’d be so grateful for any advice. 

runforlife

Have. a look at sold prices in land registry site, right move and Zoopla. Sometimes on Rightmove you can also see previous estate agenta
marketing too. https://www.gov.uk/search-house-prices

MaggieMags

runforlife said:

Have. a look at sold prices in land registry site, right move and Zoopla. Sometimes on Rightmove you can also see previous estate agenta
marketing too.

Yeah, similar properties on the same (long) street have sold recently for anywhere between 150 and 190. The ones which sold for around 150-160 were in a similar condition to this one, again same size, but almost all semi rather than end terraced like this one. It seems overpriced, I know it’s mad right now, but prices haven’t gone up that much here, from what I’ve seen. Even more confused now! 

Crashy_Time

If it seems overpriced it will be for sure, relatives trying to milk it maybe?