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Pearls18 Nov 28th, 2016 10:06 AM

How much would you offer?
We like the look of a house that is on the market for £160,000, itís been on the market since July, it has had interest but I gather those interested are struggling to sell their own houses (that may be estate agent talk!) what do you think a good opening offer would be and what would you hope for? I appreciate thatís a hard one to answer without knowing all the details, to be honest thatís all the detail I have ha. We're first time buyers so ready to go. Weíve only looked at new builds before so donít really know how it works in terms of the used market, I gather offering a lower price is normal? (It doesnít state offers in excess and isnít a terribly buoyant market where weíre looking which is why I want to be sure if we do go for it we get the right price). Any thoughts/musings welcome!

xxmyheartxx Nov 28th, 2016 10:27 AM

Being first time buyers works I'm your favour as your ready to go so to speak, I've always being very cheeky when buying houses, plus the fact in being on the market since July, have the owners found anywhere they want to buy? I would start at around £145k and work upwards. The house is only worth what someone is willing to pay for it. Good luck xx

lau86 Nov 28th, 2016 15:01 PM

If they've overvalued their house (which it sounds like they have), it's awkward as the offer is always going to seem cheeky. Can you do a search on zoopla to see how much nearby properties have sold for? I would be inclined to offer 140-145. People offered 20k below for ours, we just said no.

kbwebb Nov 29th, 2016 03:10 AM

i agree with the pp, look at what near by houses have gone for, the worst thing to happen is that they can say no, and then you can still offer a higher price anyway.

Bevziibubble Nov 29th, 2016 04:00 AM

I would probably start around £145k. You're a first time buyer so they're more likely to accept a cheeky offer since you're at the end of a chain and that makes it so much simpler for a house seller. Good luck!

Quartz Nov 29th, 2016 14:23 PM

I would start at 145 with the aim of compromising on around 152k. Around 5% under is normal I would say to compromise on (with a range of 3-8%).

JumpingIn Dec 1st, 2016 07:14 AM

Where on Earth is this super cheap house and can I move there!? I'm guessing nowhere near here

Pearls18 Dec 1st, 2016 12:53 PM


Originally Posted by JumpingIn (Post 37958309)
Where on Earth is this super cheap house and can I move there!? I'm guessing nowhere near here

East England, it's a 3 bed overlooking open countryside with a good school down the road so we're keen but it is on the small side, smaller than what we have now so undecided.

Thanks for all the advice, that was kind of what I was thinking. Just waiting for my husband to get back from working away to see it, if it' goes before then it wasn't meant to be!

broodymrs Dec 1st, 2016 15:52 PM

Ours was on for 160, we got it for 140. Started by offering 130 and worked up. Looked at what others nearby had sold for. She had overvalued it as our mortgage company said it was worth 145 so we couldn't have offered above that anyway

Good luck!

Pearls18 Dec 2nd, 2016 13:18 PM

If a house states "offers in excess of" does that mean no chance in hell offering less than that? Even if it's been on the market 7 months?

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