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Making an offer
poppy456
Posts: 12 Forumite
Interested in a 3 bed terraced house in liverpool (refurbished). Asking price £85,000 vendors bought it for £83,000 in June 2006!
Any suggestions on opening offers?
Any suggestions on opening offers?
0
Comments
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if it was me i would start off @ 70k but i have decided its crazy to be buying now...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
They're not actually asking for much more than they bought it for. It depends on how much you want it really.Never let your sucesses go to your head and never let your failures go to your heart.:beer:0
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put in a really low bit they can only say no and you have to go higher.
they could be desperate to sell and accept your offer, that is what i did recently and got £20,000 off asking price.
i know with the way the housing market is going i may well lose that but im intending on staying here for a long time so i don't think that will be a problem.0 -
It's different this time.
No, it really is!
This house is sensibly priced at 3x salary-ish. Interest rates are historically low. I think the cra...orrection will impact more affluent areas most.
I'd look at other similar properties to see what they sold for. A 20% fall may be more realistic in these areas. Considering the recorded sale price in 2006, I'd be tempted to offer £80K - but only if I really liked the house and had secured a 10-year (portable) fixed rate.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Gorgeous_George wrote: »I think the cra...orrection will impact more affluent areas most.
Are you joking?This house is sensibly priced at 3x salary-ish. Interest rates are historically low.
3x what salary-ish?
Average salaries in Liverpool are well below the national average. So this property may be closer to five times the average local salary. Add the fact that many will have various other debts accumulated to pay for their PS3s from Brighthouse, and it doesn't look good.
Interest rates are also not that low - LIBOR is still creeping up, and we don't have high (wage) inflation to offset the effects of the high interest rates as we did in the early 90s.poppy100 -
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