How much should I offer?

Spendless

What are these type of houses selling like round there? Are there lots of sold boards or are properties up for sale for months on end?

bridiej

Katinkka wrote:

Dont want to be a downer but its a bit odd that so many owners have sold it so soon after buying it...

Why?

People's circumstances change and sometimes they have to move, e.g. have a baby so need more room, get a job elsewhere and have to relocate. There could be all sorts of reasons, so it's not necessarily something to be suspicious of.

BigSammyA

Its FTB heaven, nice newish houses that aren't too pricey. There are even two large semis that have been made into 4 flats commanding £550 / month rent (more than my mortgage on the terraced one).

Seems to be quite young people there, so I assume they move up the ladder as there is a lot of activity round there. They do go quicky, the comparable house I mentioned before was only in one monthly paper, so mustve gone within 4 weeks of being listed.

Last sale on the estate was on 11 Oct 2004, a terrace for £122,000. Th number is a bit away from the one i'm looking at, so i think it was a bigger house.

Spendless

BigSammyA wrote:

Seems to be quite young people there, so I assume they move up the ladder as there is a lot of activity round there. They do go quicky, the comparable house I mentioned before was only in one monthly paper, so mustve gone within 4 weeks of being listed.

Then is it likely that they'll be selling for near to the list price if there is high demand for these sort of properties

BigSammyA

yeh, that's why im not sure what to offer.

gonna have to just play the "i can move in whenever (more or less)" card.

We were thinking of offering £109,000.

rozeepozee

I see what you're getting at, but your sums are based on a RISING market and (allowing for regional fluctuations) house prices seem to be stagnant or falling. Ask the estate agent if there have been other offers and if so what they are,- and how long the property has been on the market (I believe they're required to tell you). If there are no offers, you know you're in a great bargaining position. It depends upon how ballsy you are. My mother (who's a lot gutsier than me about these things) has never paid the asking price for a property and as a rule offers 20% below the asking price! Her best deal so far has been a property advertised for 70k that she eventualy bought for 46k! If they don't accept her reduced offer, she walks away. There's always going to be another property to buy

bridiej

rozeepozee wrote:

There's always going to be another property to buy

And other buyers who will offer more....

nelly_2

the EA will say there is other interest whether there is or not cos thay know exactly why people ask that question

BigSammyA

it is quite new on the market too - we haven't seen it on any property parers round the area.

We only discovered the house because we were looking at one of the nearby flats, and saw the sign. It appeared on their website the day after.

Will have to see how we feel after the viewing on saturday, if we really really like it then we're probably going to have to put in a reasonable offer, rather than a cheeky one.

It still looks quite a bit over priced at the moment tho.

diggerbadger

Hi there

It depends on the circumstances of the vendor on what offer they will take however.

Use your posistion to your advantage FTB are hard to find these dayz

open your bid At £105,000 is the norm for my direction if the agent fobs you off remind hm of his obligations under the estate agents act. (offders must be presented in a reasonable tiome scale )

and increase in £2.5 just not the £5k as most human beings
most vendors would strongly consider the 3rd offer

From an E.A