How much should I offer!?

remi_smith

Hi 

My partner and I are looking at putting an offer in on this house, I was just wondering what price we should go in at in other peoples opinions? It's been on the market almost 6 weeks, it has had other viewings but no further interest. It is liveable but needs some minor work to smarten it up a bit.

The property is a 2 bed mid terrace house in Chepstow, South Wales - it can be found on rightmove by searching 2 bed house in chepstow, it's Maple Avenue up at £175k

Boiler was replaced in 2012 and has been serviced once a year since.
The property has not been rewired during the time the current vendor has owned the property (since 2006) and they are unsure of when it was last rewired prior to 2006
The loft insulation needs replacing
And majority of the windows were replaced with upvc double glazing in 2006

Thank you in advance for any help and advice

davilown

With regards to the ‘issues’, they are all very minor. Boiler should last, windows will be fine and a few £100s to replace the loft insulation.

The electrics - do they need replacing? If, when you offer, you have an Electrical check done and see if anything major needs doing.

As for the offer, offer what you think it is worth to you - around that price range I would think £160k would be a good starting point

ErinGoBrath

remi_smith said:

Hi 

First time buyer here, my partner and I are looking at putting an offer in on this house, I was just wondering what price we should go in at in other peoples opinions? It's been on the market almost 6 weeks and it has had other viewing but no further interest. It is liveable but needs some minor work to smarten it up a bit.

The property is a 2 bed mid terrace house in Chepstow, South Wales - it can be found on rightmove by searching 2 bed house in chepstow, it's Maple Avenue up at £175k

Boiler was replaced in 2012 and has been serviced once a year since.
The property has not been rewired during the time the current vendor has owned the property (since 2006) and they are unsure of when it was last rewired prior to 2006
The loft insulation needs replacing
And majority of the windows were replaced with upvc double glazing in 2006

Thank you in advance for any help and advice  

Cannot help myself, but if it helps anyone else trying to help, here is the property I think ...

2 bedroom house for sale in Maple Avenue, Bulwark, Chepstow, NP16 (rightmove.co.uk)

EDIT: seems in decent condition to me, nothing obvious seems wrong.

[Deleted User]

davilown said:

With regards to the ‘issues’, they are all very minor. Boiler should last, windows will be fine and a few £100s to replace the loft insulation.

The electrics - do they need replacing? If, when you offer, you have an Electrical check done and see if anything major needs doing.

As for the offer, offer what you think it is worth to you - around that price range I would think £160k would be a good starting point

I agree with Davilown regarding the offer. I might even be tempted to go a little lower, considering the lack of interest. It's dependent of course on what it's worth to you and what you are able to realistically afford. What amount are you considering?

pinkshoes

Why would it need a rewire?? I was expecting a really old property when you said that!

As for boilers... we have just replaced our 40+ year old boiler that was actually working fine but just had limited controls on it. 

Is this one out your budget: https://www.rightmove.co.uk/properties/103248377#/

remi_smith

Deleted_User said:

I agree with Davilown regarding the offer. I might even be tempted to go a little lower, considering the lack of interest. It's dependent of course on what it's worth to you and what you are able to realistically afford. What amount are you considering?

We were thinking an offer of around £160-£165 but we were unsure of what would be a reasonable amount to offer so your response has been really helpful, thank you  

remi_smith

davilown said:

With regards to the ‘issues’, they are all very minor. Boiler should last, windows will be fine and a few £100s to replace the loft insulation.

The electrics - do they need replacing? If, when you offer, you have an Electrical check done and see if anything major needs doing.

As for the offer, offer what you think it is worth to you - around that price range I would think £160k would be a good starting point

Thank you for your response, we were really unsure what would be a reasonable amount to offer so that's really helpful thanks

remi_smith

pinkshoes said:

Why would it need a rewire?? I was expecting a really old property when you said that!

As for boilers... we have just replaced our 40+ year old boiler that was actually working fine but just had limited controls on it. 

Is this one out your budget:

Thanks for your response - we have looked into that house you have posted but really put off by the layout and it is stretching the budget slightly.

& wasn't saying that it needs a rewire just stating the information that we know about the property to give a better idea for people wanting to answer my question  

MaryNB

I wouldn't be concerned about the condition. It sounds like it's in good shape. The fact it's been in the market for 6 weeks without an offer is better grounds for a offer below asking. 

davilown

I think looking at the age of the house, possibly the worst part of the electrics would be an 'out of date' board and possibly no earthing to the wiring (but please get a electrical check done just to be sure).  It looks in reasonable condition, bit of paint and flooring and would be a nice home for you!

Sunsaru

I was in your position a few months ago. FTB, similar asking price, went in £10k under. (It was an ex rental and was sitting empty) Was rejected at first but they came back to me less than 2 weeks later when there was no other interest. 

You don't get if you don't ask.

As for the electrics, I would ask for a safety cert for both gas and electrics. If there is any remedial work needed, the vendor 'may' get it done. That was the case for me and the RCD (fuse box) was updated and the garage rewired.

I can only advise from my experience. Your mileage may vary.