Explanation for super cheap house on street

MysteryMe

I wasn't suggesting otherwise

grumiofoundation

gozaimasu said:

Might as well chance an offer of £100k lower based on this sold price and see what the EAs say...

In general the downside of offering very low like this is that the vendor would then refuse to consider any later offers from you.

What would you do if someone offered 250k when you listed at 350k? And how seriously would you take a follow up offer of 350k? 

More specifically in this case was there actually a property the OP is interested in mentioned? 

Crashy_Time

grumiofoundation said:

gozaimasu said:

Might as well chance an offer of £100k lower based on this sold price and see what the EAs say...

In general the downside of offering very low like this is that the vendor would then refuse to consider any later offers from you.

What would you do if someone offered 250k when you listed at 350k? And how seriously would you take a follow up offer of 350k? 

More specifically in this case was there actually a property the OP is interested in mentioned? 

For most basic property that people are trying to sell at inflated prices this won`t matter because there are always going to be loads of similar houses hitting the market.

Crashy_Time

Slinky said:

Crashy_Time said:

"Overall, sold prices in Alnwick View over the last year were 32% down on the previous year and 54% down on the 2006 peak of £499,000." ?

Easily explained that 2016 saw two 5 bedroom detached houses sold for over £500K which don't compare with more recent property type sales.

Which just means that people don`t want to pay that amount to live in the area, well apart from two people.