What should they do???

brock-cruse

Hi all
Parents had offer on their place 10k below asking price although they had already reduced by 20k. New place is in large village with good transport links to city. It needs new kitchen doors, worktop, outside patio doors, flooring, cooker, oven, dishwasher,front door and they would like to add conservatory to side of house. Including moving costs such as sol and agent etc they price all this to be about 30k. What offer would you personally initially go in at?

http://www.rightmove.co.uk/viewdetails-20766374.rsp?pa_n=false&tr_t=buy

Do you think 220k is too low?
Its been on 2 months had a lot of interest although no one else can sell theirs! Vendor tells them that she has spent 20k on it recently on heating/electrics and has priced it lower than valuations came in. What do you think?
Thanks.

dexters_mum_2

Write a list of things which need doing, for example, a new kitchen and all the other associated costs, like say having a new consumer unit (fuse box), internal decoaration etc for everything that needs doing and total up the amount needed to bring it up to the condition your parents would like it to be in. You can you things as a negotiation tool.

However, be realistic, don't say £15k for a new kitchen when possibly £5k would just about do it.

Personally, I'm cheeky and would make an offer of £180k first and the only way is up from there!

It worked for me though, the first place I bought was a repo, on the market for £55k, I offered £27k and got it for £33k (I think, either £30k or £33k).

DM

neas

Its a buyers market.. the fact they already reduced by 20k means nothing... that drop is because the average value of houses selling has been droppin.... now the buyer wants to negotaite and wants 10k off because house prices are still dropping,

Bite their hand off... or regret it in months time