what offer to put in

cheepskate_2

wondering what offer everyone would put in at the moment for a house.

We are looking at a house needs some work done on ti , they are wanting offers over 190,000 does offering £160,000 seem too low,

thanks

m00m00

only one way to find out .....

Kez100

Don't think anyone can give any real advice in this terribly unusual market.

TT1_3

Get a friend to put and offer in and judge the rection.

m00m00

every house sale is unique

in order for someone to accurately give advice on this they would need to know the area, the specific property and the sellers circumstances.

abaxas

Work out what is your MAXIMUM spend, ie what you beleive this property to be worth. Then offer 10% lower and work up.

Think of it like an auction. NEVER bid higher than your max.

twinklefish

cheepskate wrote: »

wondering what offer everyone would put in at the moment for a house.

We are looking at a house needs some work done on ti , they are wanting offers over 190,000 does offering £160,000 seem too low,

thanks

Errr if it's offers over and your in Scotland then £160K might be seen as a joke! In Aberdeen property is still selling for 20% -35% over offers over price. Ask you solicitor for advice. If they are a member of a local solicitors property centre, they willl probably be able to see what properties in the area are selling for long before they appear on the likes of nethouseprices.

Tx

Annpan

Can't understand why you're looking at this one if it says offers over. It's obviously way above what you can pay and if they were wanting offers in the region of you could still get short shrift if you undercut by £30,000. If it was valued in recent weeks then the market at present should be reflected in the valuation and is already at a level to suit the market.
Could be bunkum of course!

tradetime

With that offer I'd say it depends a lot on how much they need to sell, if you offered me over 15% less than what I wanted, I wouldn't even return your call, but don't let that put you off, that's just me.

mitchaa

It depends on where you are in the country.

If you are in Scotland the OO is exactly that, offers over.

A £200k valued house may be put on at OO £175k, the usual rule of thumb in Scotland is between 10-25% over so the OO price is normally quite a bit below the valuation of the property.

If you go offering £150k on a £200k priced property that is on for OO £175k, you will have just wasted your time especially if its a closed bidding system, ie you have to wait a few weeks on the outcome.

If its in England, then total different kettle of fish.

A house across the road from me about a 6wks back sold for £410k with an OO of £300k for example. This is in Aberdeenshire.

mitchaa

cheepskate wrote: »

wondering what offer everyone would put in at the moment for a house.

We are looking at a house needs some work done on ti , they are wanting offers over 190,000 does offering £160,000 seem too low,

thanks

Like i said above, if its in Scotland then the valuation of the property is likely to be around £220k so an offer of £160k is just a complete waste of time;)