Offer Prices

Jay1b

I know the average house sells for 94% of its original asking price.

But what would you guys and girls offer for houses priced at:

£120K
£125K
£130K

Thanks.

PS: I am a first time buyer if that makes any difference!

Woby_Tide

£120 = £110+
£125 = £115+
£130 = £117+

MattyNeth

if this helps. Putting my house on today for 235k but looking for 228k+
Buying house valued 275k. Offering 260k+

meanmachine_2

In today's climate, I'd be offering £210K on a place valued at £235K

and no higher than £250K on a £275K.

Why would anyone offer £260K and thereby incur a huge stamp duty bill?!!

Happy_saver_4

Forget about percentages of asking price etc.

First off work out what the property is worth to you. Considering your finances and any improvements and modifications needed..

Now offer the vendors less than that (perhaps a few thousand) then you have room to negotiate upwards.

Never tell owners their property is not worth what they are asking - just state "my finances will only allow me to go to £???,??? " Do comment on any repairs that you feel needed to be carried out to the property etc

Never 'fall in love' with a pile of bricks and mortar. It's not even your home till you've bought it. Keep a cool head :cool:

Robert_Sterling_3

Woby_Tide wrote:

£120 = £110+
£125 = £115+
£130 = £117+

Cheap Houses ?

MattyNeth

We're offering above the stamp duty rate as we think it is good value. In Bournemouth and in the area I'm specifically looking (i.e. near the river, close to very good school) property is selling for near enough the offer price even in the current market. Likewise our house is less than 2 min walk to the same excellent school. We should get near to our offer price.

The place we are looking at is 10k less than other properties in the area (it only needs a lick of paint and double glazing), and we love it. It has real potential

Jay1b

Robert_Sterling wrote:

Cheap Houses ?

Not overly.... Affordable houses is probably a better term.

paulb567

We're about to make an offer on a property with an asking price of £199950. Haven't decided what our starting offer will be yet, we're going for another look over the weekend and will be looking very hard for any faults or problems we can see.

The road the house is on has also appeared in the local paper a few times recently with one or two of the residents complaining about the noise / "anti social behaviour" due to it being fairly close to a late bar and night club.

So can hopefully use this when negotiating as well. Will probably put an opening offer in of 178K or 179K hoping to bargain no higher than 188k

Woby_Tide

MattyNeth wrote:

In Bournemouth and in the area I'm specifically looking (i.e. near the river, close to very good school) property is selling for near enough the offer price even in the current market.

Careful of the floods!......I thought Twynhams standards had started slipping according to some teachers we know at some of the feeder primaries. We're in two minds about the same sort of area but have time on our side

MattyNeth

Well on the place I put the offer in for today (260k on a 275k house), the lady turned us down, but said that she would take 265k.

Going back tomorrow or Thursday with an offer of 264k.

Then comes the hard part - selling our place!