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Have i offered too much?

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  • need_an_answer
    need_an_answer Posts: 2,812 Forumite
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    That's my belief...the pics you see now on RM were when listed 2017 not when the property was sold in 2014
    in S 38 T 2 F 50
    out S 36 T 9 F 24 FF 4

    2017-32 2018 -33 2019 -21 2020 -5 2021 -4 2022
  • dantheram1985
    dantheram1985 Posts: 80 Forumite
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    need_an_answer wrote: »
    That's my belief...the pics you see now on RM were when listed 2017 not when the property was sold in 2014

    makes sense - that would have me think 300k-310k max for 2017
  • need_an_answer
    need_an_answer Posts: 2,812 Forumite
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    I said earlier that I don't like these websites that give a house a value but does this one make you feel a little more confident

    https://www.mouseprice.com/house-prices/de72+3eq/2

    according to the mice your getting a bit of a good deal at 325.

    I know its all speculation and I'm no surveyor but you could take some hope.

    Once you have a valuation for mortgage purposes I'm sure it will all become clear what to do.
    in S 38 T 2 F 50
    out S 36 T 9 F 24 FF 4

    2017-32 2018 -33 2019 -21 2020 -5 2021 -4 2022
  • dantheram1985
    dantheram1985 Posts: 80 Forumite
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    need_an_answer wrote: »
    I said earlier that I don't like these websites that give a house a value but does this one make you feel a little more confident

    https://www.mouseprice.com/house-prices/de72+3eq/2

    according to the mice your getting a bit of a good deal at 325.

    I know its all speculation and I'm no surveyor but you could take some hope.

    Once you have a valuation for mortgage purposes I'm sure it will all become clear what to do.

    is price per SqM a valid comparator - coming in at £3000+, on a par with the home counties, certainly way above the average for the area of c.2k
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    If it is still on your thoughts, yes you offered too much.
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
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    Crashy_Time wrote: »
    If it is still on your thoughts, yes you offered too much.

    How are your thoughts? Still dwelling on the house you sold for peanuts 20 years ago in order to wait for a crash?

    How do you have the gall to talk to anyone about housing?
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Every house ive bought when ive had the offer accepted you have that thought of could I have got it cheaper... But once you get the keys and put your own stamp on the property you soon get over it...
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    need_an_answer wrote: »
    So in effect you could be waiting another 12 months to find something worthwhile and by that time it could cost you £10K more.

    Equally I know prices can go down too but maybe for the sake of £10-15k I might be inclined to stick with this one if you can

    It comes down to that old thing called supply and demand doesn't it.[/QUOTE]


    No, it is sentiment, interest rates and banks willingness to lend.
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Crashy_Time wrote: »
    need_an_answer wrote: »
    So in effect you could be waiting another 12 months to find something worthwhile and by that time it could cost you £10K more.

    Equally I know prices can go down too but maybe for the sake of £10-15k I might be inclined to stick with this one if you can

    It comes down to that old thing called supply and demand doesn't it.[/QUOTE]


    No, it is sentiment, interest rates and banks willingness to lend.

    Ignore this muppet, he sold years ago as he was sure prices was about to crash, and now he is on here in some vain attempt to get other people to get in the same position as him...

    Prices can go up and go down, but remember you only lose if you sell, you cannot predict what prices will do, if you wait prices could go up and you will pay more rent, or prices could go down....

    Remember if you have offered too much and the property is not worth that amount then the bank will flag this up as they will not want to lend on a property that is not worth what you are paying as it would increase their risk.
  • dantheram1985
    dantheram1985 Posts: 80 Forumite
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    buggy_boy wrote: »
    Crashy_Time wrote: »

    Ignore this muppet, he sold years ago as he was sure prices was about to crash, and now he is on here in some vain attempt to get other people to get in the same position as him...

    Prices can go up and go down, but remember you only lose if you sell, you cannot predict what prices will do, if you wait prices could go up and you will pay more rent, or prices could go down....

    Remember if you have offered too much and the property is not worth that amount then the bank will flag this up as they will not want to lend on a property that is not worth what you are paying as it would increase their risk.

    have a surveyor going in soon so we'll see what his report states
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