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House for sale for OIEO of 155k. Ou budget was 150k What would you offer?

(14 Posts)
CrapBag Mon 17-Mar-14 11:23:04

A house I am looking at this week is up for this. It has been up for 6 months and the price has dropped from 160k.

It ticks nearly all of our boxes. I think I am going to love it (although I may not obviously). It is 5k over our top budget. I mentioned this to the EA as I wasn't sure whether it was even worth bothering to view and he said don't let 10-15k put you off properties.

I was originally hoping to get a house for 140k but would go to 150k if it was perfect, this one doesn't have off road parking but I can live with that.

What would you offer?

whineaholic Mon 17-Mar-14 11:26:30

I'd go and see it first and if I wanted it I'd offer the most I can afford.

It does depend very much on what position you are in . No chain, FTB, cash, STC et etc.

Dillydollydaydream Mon 17-Mar-14 11:31:39

They can only day no. I you can only go up to 150k then I think they should give it serious consideration. There've been houses up in my area for overs over '...' And none I've seen on rightmove sold prices actually achieved a price over what they were asking. Most were 5-10k under.

HelpfulChap Mon 17-Mar-14 11:33:25

Have a look at it.
If you like it & want it, put in your offer of 150k & try & spin your position to your best advantage.
Let the EA now that this is absolutely your best 'take it or leave it' offer (so the vendors dont think you are playing games with them) & tell them you will leave it with them for a week or two.
If the 150k offer is not acceptable, you have to be ready to walk away.
I have done this in the past, obviously it does not always work but sometimes things fall into place. Or they get all indignant, turn it down & then a couple pf weeks later you get a call, asking if you are still interest at your price!

legoplayingmumsunite Mon 17-Mar-14 11:34:18

Have a look at it, speak to the EA and see if anyone else is interested, offer 10% less than the asking price if you like it and then see what they say.

CrapBag Mon 17-Mar-14 11:34:28

Would it be too cheeky to offer 145k with the view that we can go up if they say no?

Part of me thinks it may be cheeky but they lowered the price 2 months ago and it still hasn't sold so they may be more resigned to it. I would hate to not put in a lower offer because I was too afraid to but actually could have got it for that.

mrssmith79 Mon 17-Mar-14 11:36:14

I'd be channeling Phil and Kirsty and offering 145 or so to begin with. If that gets knocked back you can increase to 150 and emphasise that it's your absolute max. If it's been up for +6mo they should bite your hand off. You can tell I watch too much daytime telly!

CrapBag Mon 17-Mar-14 11:37:10

Wouldn't they say that someone else was interested anyway so I think I have to rush and make an offer? I know that's what the housing association did when we bought this house. They made me think 3 other people were interested at the same time as us. It was bullshit.

Wouldn't 10% less be 140k? I'd be surprised if anyone went that low when they were selling.

HelpfulChap Mon 17-Mar-14 11:38:03

Personally i prefer the 'lay my cards on the table approach' but there is nothing wrong with being a bit cheeky - its all part of the game.
They can only say no.

CrapBag Mon 17-Mar-14 11:39:09

I've been watching a lot of property programmes too grin.

I need Phil and Kirsty, they always get it for them!

Would I emphasise its my absolute max in the hope they'd take it? I talked to DH and if it was the absolute dream house we could go to their asking price but then no one else obviously is and all the good houses here are selling fast. It makes me think that they are asking too much for this one because it looks immaculate.

Viviennemary Mon 17-Mar-14 11:40:57

Just offer what you can afford and what you think the house is worth. If it's already been on the market for 6 months it's unlikely it would be snapped up because it's only be reduced by a quite small amount. The problem is if you offer too low and then up it they make think you can up it again and again. If that makes sense.

CrapBag Mon 17-Mar-14 11:49:59

Yes I see what you mean. I'll have a look on right move to see sold house prices. I looked on Zoopla but I never find their prices that accurate. They are valuing it at much less and it is definitely worth more than they say. Then they valued mine at a stupid amount, far more than its worth.

Twistiesandshout Mon 17-Mar-14 13:11:00

I'd offer 150k and make it clear that is your top offer. Then if you can make yourself more appealing by having quick exchange etc. good luck!

50shadesofmeh Mon 17-Mar-14 13:53:29

I'd start at 145k and go from there

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