advice on offer in south-east region

remo_2

hi,
I'm looking for some advice...
The asking price for a property in south-east regoin of england is £245950. And we placed an offer for 235k and after negotiation the offer was accepted at 237500. The house needs cosmetic changes like replacing carpets (planning to put laminated flooring), ceiling skimming.
I'm a first time buyer.
The house is being sold by the solicitors on behalf of the beneficiaries of a late-grandmother.
My question is, I'm not sure whether I've bid for a right price. Have I nebbishly quoted too high at this crashing market?
Can I re-negotiate once I get the valuation done by my lender (HSBC)?
The average selling price in that street being 250K over last two years (of course, those are boom periods).
how much should I re-negotiate?
Any advice would be much appreciated...

trudiha

This is a really tough one, if you try to re-negotiate there is a chance that the vendor will tell you to go away, however, as the market is going down (I think that you maybe calling it a crash a little too soon but others think differently) they are much less likely to have anyone else waiting in the wings.

I suppose the softest and most cautious thing you could do is to phone the agent and tell them that you are nervous but you might be better off waiting until your valuation comes back or even splashing out on a hombuyers report so you have more ammunition to go in with.

I'd love to hear how things turn out with you, as I'm in exactly the same position.