how much ?????

poppy10_2

If it's been on for 11 months, you should be going no higher than 20% off the current sale price.

ukbondraider

poppy10 wrote: »

If it's been on for 11 months, you should be going no higher than 20% off the current sale price.

Everyone who has replied to you have not been realistic. They are the typical pro crash people.

You have to decide if you want this house.

Lets say for example that the house was worth £200K when it was on the market but the vendor put it up for £239K (unlikely but just for an example). Although the house hasnt sold, 11 months later it will now we worth around £220K due to the approx 10% increase seen in the last year. Therefore there is no chance she will accept a £200K offer in my opinion and you risk losing the place if there are other interested parties.

There is no harm offering low and working your way up but dont let people here fool you into what you should o want to pay because they themselves want to see a crash.

From my experience, houses under £500K would rarely sell for anything less than 95% of asking price. Only when you go above £500K can you get around 10% discount from asking price.

Good Luck.

Paul_N_4

ukbondraider wrote: »

Lets say for example that the house was worth £200K when it was on the market but the vendor put it up for £239K (unlikely but just for an example). Although the house hasnt sold, 11 months later it will now we worth around £220K due to the approx 10% increase seen in the last year...

Incorrect

House price inflation for the past 12 months is currently at 2.9% as stated by Nationwide. Not 10%.

http://www.nationwide.co.uk/hpi/

benood

ukbondraider wrote: »

Everyone who has replied to you have not been realistic. They are the typical pro crash people.

You have to decide if you want this house.

Lets say for example that the house was worth £200K when it was on the market but the vendor put it up for £239K (unlikely but just for an example). Although the house hasnt sold, 11 months later it will now we worth around £220K due to the approx 10% increase seen in the last year. Therefore there is no chance she will accept a £200K offer in my opinion and you risk losing the place if there are other interested parties.

There is no harm offering low and working your way up but dont let people here fool you into what you should o want to pay because they themselves want to see a crash.

From my experience, houses under £500K would rarely sell for anything less than 95% of asking price. Only when you go above £500K can you get around 10% discount from asking price.

Good Luck.

If you want a bargain you have to offer low in the first place - a 20% reduction is not unreasonable, the vendor is already talking about cutting the asking price to £220 and will expect offers below that. If you stay dispassionate and look at other things not getting excited about this one you have a much better chance of getting a good deal - btw seeking a good deal doesn't mean you want a property crash. :rolleyes:

Also the percentage discount you can achieve, in my experience, tends to be due to the uniqueness of the property and the corresponding difficulty of placing a value on it, of course more expensive properties tend to uniqueness.

Generali

Has anyone else tried highlighting GG's post? Looked at carefully he makes a very good point.

Doozergirl

Generali wrote: »

Has anyone else tried highlighting GG's post? Looked at carefully he makes a very good point.

I can't believe that apparantly grown adults have so damn little to do. I guess life is boring when you all agree with each other.

Oh! the irony of calling this board 'censored'.

"Oooh let's go and bait the balanced forum" yawn.

Merry Easter, Mr G

Generali

Doozergirl wrote: »

Merry Easter, Mr G

And to you Doozerinha. May your chocolate eggs never melt.

mitchaa

Put the shoe on the other foot and pretend you are the seller.

Would you really accept an offer of sub £200k on the £239k you are expecting.

Seriously, some people are taking this stagnation in the housing market to the extreme. Absoloute ludicrous and its only on this forum that i read this kind of drivel.

There was a thread a couple of weeks ago on here where the poster was wanting to offer £325,000 on a £495,000 property. It beggars belief:rolleyes:

As nice as possible, if i was the seller, I'd tell you to pi*s off and to stop wasting my time.

Go in with an offer of £220k !!!!!!

boinging_2

mitchaa wrote: »

Put the shoe on the other foot and pretend you are the seller.

Would you really accept an offer of sub £200k on the £239k you are expecting.

As nice as possible, if i was the seller, I'd tell you to pi*s off and to stop wasting my time.

Go in with an offer of £220k !!!!!!

Why should they offer a "fair" price? Offer as low as possible. The seller has been wasting their time for 11 months.

from_the_other_forum

mitchaa wrote: »

Put the shoe on the other foot and pretend you are the seller.

Am trying to, it's hard to be objective so i'm putting the question to a wider forum.

mitchaa wrote: »

Would you really accept an offer of sub £200k on the £239k you are expecting.

Nope, but i would seriously entertain anything 200k plus, and give up on the year long dream of an unobtainable 239k.

mitchaa wrote: »

As nice as possible, if i was the seller, I'd tell you to pi*s off and to stop wasting my time.

Not the best way to sell a house though, how would you ever get moved to you next home by eliminating prospective purchasors

Anyways, thanks for you opinion, it's good to get a range of thoughts...