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    • mr_munchem
    • By mr_munchem 9th Jan 18, 3:32 PM
    • 95Posts
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    mr_munchem
    Realistic discounts?
    • #1
    • 9th Jan 18, 3:32 PM
    Realistic discounts? 9th Jan 18 at 3:32 PM
    Looking at buying my first property, a 3 bed terraced house, been listed since Sep 17 at ~160,000, recently reduced to 155,000. It needs a lot of work (complete gutting and starting again with all but plumbing and electrics); what do you think is a realistic discount aim, and what are your top tips before I put an offer in?
Page 1
    • zx81
    • By zx81 9th Jan 18, 4:03 PM
    • 17,266 Posts
    • 18,369 Thanks
    zx81
    • #2
    • 9th Jan 18, 4:03 PM
    • #2
    • 9th Jan 18, 4:03 PM
    what do you think is a realistic discount aim, and what are your top tips before I put an offer in?
    Originally posted by mr_munchem
    One that reflects what it is worth to you, taking into account the work that needs to be done.

    Make sure your offer is genuine and don't go out of your way to annoy the vendor.
    • BoGoF
    • By BoGoF 9th Jan 18, 4:04 PM
    • 3,215 Posts
    • 2,532 Thanks
    BoGoF
    • #3
    • 9th Jan 18, 4:04 PM
    • #3
    • 9th Jan 18, 4:04 PM
    Depends if current price reflects work needing done. Has there been similar houses sold recently in the area - how does the price compare?
    • mr_munchem
    • By mr_munchem 9th Jan 18, 4:45 PM
    • 95 Posts
    • 33 Thanks
    mr_munchem
    • #4
    • 9th Jan 18, 4:45 PM
    • #4
    • 9th Jan 18, 4:45 PM
    Thanks, I will most likely make an offer that reflects my affordability too!
    • mr_munchem
    • By mr_munchem 9th Jan 18, 4:47 PM
    • 95 Posts
    • 33 Thanks
    mr_munchem
    • #5
    • 9th Jan 18, 4:47 PM
    • #5
    • 9th Jan 18, 4:47 PM
    I think it is priced with some of that in mind, but not all - some recently have sold for just a little bit more that are as outdated but require minor work.
    • mr_munchem
    • By mr_munchem 9th Jan 18, 4:49 PM
    • 95 Posts
    • 33 Thanks
    mr_munchem
    • #6
    • 9th Jan 18, 4:49 PM
    • #6
    • 9th Jan 18, 4:49 PM
    Should have added for extra info that it has been un-tenanted for 10 months!
    • pjcox2005
    • By pjcox2005 9th Jan 18, 4:54 PM
    • 531 Posts
    • 589 Thanks
    pjcox2005
    • #7
    • 9th Jan 18, 4:54 PM
    • #7
    • 9th Jan 18, 4:54 PM
    Should have added for extra info that it has been un-tenanted for 10 months!
    Originally posted by mr_munchem


    That can work both ways though, you see it as a sign that the property is less desirable and maybe able to negotiate on price. It may be that the seller sees it as no need to sell unless they get their price and are less willing to negotiate.


    Saying that, you won't know the outcome unless you put an offer in.
    • mr_munchem
    • By mr_munchem 9th Jan 18, 5:11 PM
    • 95 Posts
    • 33 Thanks
    mr_munchem
    • #8
    • 9th Jan 18, 5:11 PM
    • #8
    • 9th Jan 18, 5:11 PM
    All very true - thanks. The agent said there have been no offers, only 2nd viewings, so I'm hoping that if we put an offer in, the agent might work in our favour.
    • mr_munchem
    • By mr_munchem 10th Jan 18, 9:48 PM
    • 95 Posts
    • 33 Thanks
    mr_munchem
    • #9
    • 10th Jan 18, 9:48 PM
    • #9
    • 10th Jan 18, 9:48 PM
    Offered today around 10% off, which got rejected (which I!!!8217;m not surprised about), will be re offering in the morning less than 5% off, so fingers crossed!
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