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To ask what you paid for your house v asking price

(235 Posts)
Whattodowhattodooo Thu 14-May-20 11:57:33

DH and I are (relatively old and inexperienced) first time buyers.

Can I ask what you actually paid for your properties in relation to the actual asking price.

I want to go in with a rough guide %wise as to what to offer..... GO!

OP’s posts: |
Ofalltheginjoints Thu 14-May-20 12:03:59

I bought in January as a first time buyer, house was OIEO £135k and I paid £130k,

If it was a different situation I may have went with a lower offer starting at £125k however I bought from family and they left all fixtures and fittings that I wanted including range cooker and we agreed on their minimum price as it was priced for a quick sale and had initially sold at £135k before the sale fell through

TheLightSideOfTheMoon Thu 14-May-20 12:05:28

Asking price was £176.

Paid £174.

Negotiation isn't really my game...

DuckyMcDuck Thu 14-May-20 12:06:24

This is 20 years ago but we ended up paying £161k for a house advertised at £185k. It was competitively priced and so we got a bargain but they were desperate to sell quickly as they had a bridging loan. We were effectively first time buyers and it was conditional on us exchanging in 6 weeks.

GreyhoundzRool Thu 14-May-20 12:07:05

Paid full Asking price of £155k. Not many houses in this area come up that I could afford - didn’t want to mess about

MrsMonkeyBear Thu 14-May-20 12:07:38

Asking was 135k
Paid £128k

Original offered £125k, going on what similar houses in the area went for.

Whattodowhattodooo Thu 14-May-20 12:08:12

God those prices are depressing!! Need £320k minimum for a 3 bed terrace where I am 😔

OP’s posts: |
AristotleAteMyHamster Thu 14-May-20 12:08:22

I paid asking price. Could probably have offered 5% lower but the property was exactly what I wanted so I didn’t want to mess around as there aren’t many properties in my price range that have one specific feature I wanted,

mindutopia Thu 14-May-20 12:08:24

On market for £675k and we paid £660k.

That’s still too much in my opinion as sellers bought it 18 months before for £575k and had done limited work on it. But it’s a very unique property and was the right location relative to dh’s business and my commute. And dh is horrible negotiating, despite my best efforts to be the only one speaking to the estate agent. hmm

isseywith4vampirecats Thu 14-May-20 12:08:31

last july empty two bed semi in a street of all same type houses needed some work asking was £108500 and after a previous seller messing us about and losing time negotiating went in at full asking price, but done up these houses on this street go for £130000

WisestIsShe Thu 14-May-20 12:08:39

Advertised at 170k, agreed 145k, survey got it down to 140k. 12 years ago.

PickUpAPickUpAPenguin Thu 14-May-20 12:08:44

We knew from the Internet that the price had been cut twice and looked up what other local houses on the street went for.

The EA told us that the owner was a divorced woman who was looking to sell and buy with her bf so we went for 5% lower and it was accepted.

HappyBee18 Thu 14-May-20 12:09:40

Asking price £115,000
Paid £105,000 in a bidding war with another couple.

We totally gutted the house and is now worth double what we paid, or at least it was last summer.

Whycurrybeanswhy Thu 14-May-20 12:11:17

Last year. Offers over £300k paid £293k.

katiehuy Thu 14-May-20 12:11:36

Asking £550k, no one bought it, dropped to £525k, they accepted our offer of £500k but we probably paid a bit too much

LatteLoverLovesLattes Thu 14-May-20 12:11:42

'%wIse' really doesn't work

Have a look at SOLD prices in your area, and work out from that a realistic price. Then offer a bit under that but think about your offer..if they're asking 325,000 they're more likely to accept 321,000 than 320,000 for example and that won't make much difference to you.

Put in an offer YOU are happy with & hope for the best!

WhatWouldPennyDo Thu 14-May-20 12:11:45

£25k under asking price. Someone else offered £5k under. Seller sold to us as she wanted it to go to a couple who wanted to live in it as a family home, rather than a developer.

We’ve been here 4 years now and we’re grateful every day!

Whattodowhattodooo Thu 14-May-20 12:12:39

Been looking at Zoopla and one we are really interested in 3 bed terrace is on for £323,000 been on for a year, reduced last October. Sold twice since been on but both fell through due to "buyer family issues" apparently. The only one sold in the same terrace is the one actually on the market and they paid £250,000 5 years ago 🤔 no other properties relative to it in the street 😒

OP’s posts: |
user1471548941 Thu 14-May-20 12:13:37

I made my offer at full asking price but that’s because 3 other couples viewed it on same day and we all made offers!

Ended up negotiating a couple of Ks off during conveyancing as a few issues came up on survey.

Aebj Thu 14-May-20 12:15:03

When we first looked at the house in August 2009 it was on for $465,000 ( we are in Australia). We loved the house but was out of our price bracket at that time . In February 2010 it came back on the market for $435,000. We made an offer for $420,000 but ended up playing $425,000

Sewingbea Thu 14-May-20 12:15:05

Over ten years ago and we paid £10k less than asking. But I'd been carefully watching the market in the area for nearly a year before and had noted what had sold and how quickly and what the asking prices were for very similar houses, so it was a reasonably informed negotiation. I also looked on a website to see what the sold prices were - not land registry but something similar - and that gave me more ammunition. But it also depends on the market. When I bought my first house I paid the asking price because houses were selling quickly and prices were shooting up. My offer of asking price was conditional on quick completion (house was empty) and it being taken off the market. And I still think in those circumstances asking price offer was the right one.

letmethinkaboutitfornow Thu 14-May-20 12:19:05

Paid just 5K under asking price of 240K (UK SE).
Well overpriced! Mortgage company wouldnt have agreed if I didnt have 25% deposit.
But it was love at the first sight. I wanted it. I bought it to be my home, not an investment. I love it!

Tequilamockinbird Thu 14-May-20 12:19:12

7 years ago. Asking price was £210k, paid £178k. New build though and was one of the last few to sell on the estate. I made the stupidly low offer not expecting them to accept it, but they did!

0nwardsAndUpwards Thu 14-May-20 12:21:27

We bought in November..

House was up for £99k, we paid £85k due to the amount of work that needed doing.

Next door is up for sale for £120k so hopefully we'll have some equity when the time comes to sell 🤞🏻

heartonastring Thu 14-May-20 12:21:44

House was on market for 235. They then slashed it to 220. We offered 205 and paid 210 in the end. First time buyers and I was 6 months pregnant. We wanted a home but could have stayed in a flat until another option came along.

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