offers on a house

dreamlife99

hi, just want peoples views on this;

EA rang about a property they had which the chain has broken due to buyer pulling out. house was on for £172k but she said they are 'open to offers'.

i know you guys are probably sick of hearing this question but would really appreciate the feedback. i know i shouldnt take advantage, but if the chain is broken, they will want sum1 quick so are we in advantage here?. it would make it more affordable if price was lowered and also obviously need to spend money to update it too.

so how far down can i go without seeming too cheeky? i know we havent seen propoerty but just wana know first thoughts especially when we lost out previous place we liked.

thanks in advance for your help

trudiha

You might be getting a bargain, you might not, no one can tell you without details of the house, other houses in the area to compare it to and a crystal ball to be able to tell what's going to happen in a few years time.

The most confident predictions are that the market will be stagnant for the next few years. If your house isn't appreciating in value buying and selling suddenly becomes a very costly indeed, no one thinks about fees when their house has grown greatly in value, but if it's worth the same or less than you paid for it that 3 or 4% is a fairly hefty wodge of money if you want or need to move.

So no matter how much you are getting of the asking price, I think that this is a time only to buy something that you really love and will want to live in for a fairly long time.

bobby-boy_2

I think if you offered them a fiver that would be "cheeky" but if you offer 20% under all they can say is no thanks.
If you need a new HOME because of expanding family etc then move but make sure you can afford it don't rush into it just because some-one else has come unstuck. Remember they called you so they really want to sell.

pickles110564

Offer 35% below, sounds like they are desperate to sell also ask them to leave the 42" Plasma as well.

Jorgan_2

You can offer whatever figure you like, but it may not be enough for the seller to accept. Just because they may need someone to replace the broken link doesn't mean they can or will accept any less than they accepted before.

Rover

dreamlife99 wrote: »

hi, just want peoples views on this;

EA rang about a property they had which the chain has broken due to buyer pulling out. house was on for £172k but she said they are 'open to offers'.

Was £172k the asking price? That would not necessarily be the sold price in the broken chain.
If you want the house, offer between 10-15% off asking and negotiate from there.
If it is just a speculative bargain hunt go lower.

Prices could slide all the way into early 2012, but you won't get that 'notional' price now!

dreamlife99

http://money.uk.msn.com/mortgages/mortgageguide/article.aspx?cp-documentid=8011664

just come across this on msn. interesting. Hubby is going to go view property tomorrow and then will see how it goes. drove past it last night and it does need work done on it from the outside, drive and garage, garden etc.. So have to see what its like from inside. wouldnt be able to afford it at that price AND have to fork out more for moderniation etc.. Hubby is going to try and get opinion off somebody else so we play our cards this time round

dreamlife99

pickles110564 wrote: »

Offer 35% below, sounds like they are desperate to sell also ask them to leave the 42" Plasma as well.

i'll keep you updated - probably gna be shown the door, lol