Is there any point viewing a house 10% over my budget? - Now: How much to offer?

Bf109

bryanb wrote: »

If you want to achieve £270k Market around £320k, but you need to have the appropriate property.

Please dont take this advice OP.

budget_counsellor_shaz

PeteW wrote: »

Hiya!

I've just seen a £270,000 house on rightmove and fallen in love with it! Only problem is that I really can't afford a penny more than £250k as the stamp duty would be too much. Is there any point viewing it and hoping they would take an offer 10% below asking price? Or would I just be wasting everybody's time?

Regards

Pete

IMHO you wouldn't be wasting your time........

We put in an offer about 20% below the original asking price and we have now agreed a price of about 17% below the original asking price. This price is less than what similar houses sold for over 2 years ago.

They can either say yes or no. It is definately a buyers market at the moment.;)

bryanb

Bf109 wrote: »

Please dont take this advice OP.

Did you stop reading halfway through my post?
Also the OP is a buyer, but maybe that's too far back.

TD5

PeteW wrote: »

Thanks for all the feedback guys, much appreciated and all sounds quite promising. I've emailed the agents for a viewing.

Yes, three sold in November last year for 226 to 233, though they are listed as terraced, and this is a semi. The highest any house in the road has sold for is 260 (last October). This house itself sold for £139k in 2000.

Why not wait a few months and get it for the year 2000 price:j

brit1234

If you really like it put an offer in at £249K under the stamp duty limit. If they have a problem with this quote the housing minister Caroline Flint "House prices at best are going to fall 5-10%", give them your number and say if you change your mind in the next month ring me.

nutmegman

SquatNow wrote: »

Remember to act snooty and make it clear you think they are inferior to yourself and they don't deserve to have you in their house.

And how do you expect this strategy to work?

ncooper1974

There is no harm looking at any house over your budget, as long as you dont commit to spending over your budget

carpetbelly

My misses and her bros have an inherited house that's about the 280k mark. I fully expect them to get offers for the 250k mark, mainly due to the fact the property is a character property with some stables and a large garden. I would tell them to take that in todays market.

So yes, there's no harm in looking above your budget, especially when you're around that stamp duty mark. Some people are sensible about prices and offers in the market, some people won't be.

sdooley

It's worth going to have a look, certainly, the more you look at the better your chance of getting best house for your money.

gfplux

When you visit don't forget to ask how many sq feet or sq meters it is. That I think will be a surprise question they won't expect and when you have the size that may also be a bargaining chip.
Good Luck.