AIBU to ask what price your house was up for and what you actually paid?!

[Manth0914]

As title explains, first time buyers in our 30's. Totally green! Spotted a house we like but needs quite a bit of work that we would have to do room by room or what funds allowed. We think it's about £25,000 overpriced for what needs doing. How cheeky were some of your offers?! Thank you. (Worth noting we are down south where local family homes sell for between £200,000-£350,000 3 to 4 bed)

On at £850k we paid £845k.

It was a nice semi in area with good schools and there just weren’t that many available.

My house is one of half a dozen ex farm workers houses on a track with an amazing view.

Needed gutting & everything replacing - it was on the market for 5 years at £270k and we got it for £160k. I didn’t even make an offer - just told the agent what I thought it was worth & she came back saying they’d accepted! Couldn’t believe it!

The problem is that people forget houses (& anything) are only worth as much as someone is prepared to pay for it!

It depends what you mean by needs work. Is it stuff like rewiring, replacing the heating system, replacing walls and ceilings? Or is it like replacing carpet and painting which any buyer would expect to do anyway?

Some of your houses sound amazing! Agent said he was pretty keen to sell as had found a property they wanted to put an offer on. Maybe we should low ball! Theres lots to do but it's not derelict and could love uncomfortably with a few minor improvements while we saved.

Live!

my cottage was on the market for £12.7 million. I insisted on paying £13.5 cos it was so cute. i'm saving for a new oven now...

Ours was just under £900k, then dropped £20k in the few days we saw it then they accepted only £15k under asking

We love the house though

Windows, floors,old boiler, kitchen.....

We've just sold our house for £350k, full asking price.
Weve just put in an offer of £335k on a £350k house, but it's a popular village walking distance to an Ofsted outstanding school.

Your DH is right.
Make sure the agent knows you are keen to move quickly and in a very good position. Start low and negotiate from there.

Thank you for all of your answers. I will keep you informed. In the mean time please do keep me busy by reading all about your lovely homes!

We've recently had an offer accepted on a house. Was on at 300k, I went in at 292k and got it for 294k. My husband thought we should go in at 298k. That's him out of the game when we have to buy anything!

Wow at some of these responses!

I'm in the NE, our house was initially up for £120k & we managed to get it for £105K 3.5 years ago! Spent around £15k doing it up luckily nothing major.

1 bed flat. Offers over 55k. Paid 55k.

Up for 275 and paid 250 to avoid next stamp duty bracket. Didnt need any work really but I bought it to extend as on a great plot. However the vendors took everything. Even the inbuilt applicant dispite being in probate! They sold them on gumtree even the net curtains

Ours was on at £525k having been reduced from £625k over a year. Paid £492k. Started offers at £470k I think!
May sound cheeky but it wasn't selling for a reason it needed a lot of work for that price. Good luck!

I bought the house I owned without an estate agent, I got told that the owners were wanting to sell, walked in & named my own price, the owner agreed & I bought it. 3 bed ex council house bought 2001 £30k, I had just offered on a virtually identical house for £44k but when the surveys came back the valuation was for less & the vendor wouldn't reduce the price, he ended up having to sell for £40k but refused to reduce the price to £41k to me. I offered on August bank holiday monday & got the keys on 12 October, 6 weeks from start to finish. It needed work but I was able to get a big enough mortgage to do everything that needed to be done including a full kitchen, new bathroom & rewire. Within 6 months mine was revalued at £42k after spending £38k including purchase & improvements.

Ex council house in the North East. It was up for £100k. We got it for £90k. Needed loads of work. Owner had died and her niece was selling it so was happy to take less.

Same as @Ginger1982 live in Scotland and paid £12k over the asking price.

On for £66k got it for £72k

Total steal

On for £97k and they wouldn't take less than £95k (15yrs ago and they made £25k in 2yrs owning it with no work done). It's now worth a small amount more so I'll lose money when I sell as it won't cover anywhere near what I've spent on it.

My DP house is currently on for £250k and had loads of CF offers at £190k. He'd settle for £230k and not making any money. It was a renovation project when he bought it for £180k so has spent a lot on making it fit to live in over past 5yrs. The £10k offers over what he paid are an insult really. House is worth easily £250k as very naice area and priced lower than others of similar size/style. Recently reduced to £240k and had offer of £225k yesterday and viewings picking up now new year/Xmas is over.

House we are looking at is priced at £379k and in our opinion at least £40k overpriced. Plus it needs a LOT of work doing on it. They've had it 4yrs and done zero work, yet are wanting £100k more than they paid for it. There haven't been any property price increases round here for years so I don't think they can justify that price at all. She reckons she has 3 full price offers on the table but I doubt that - and it's been on market almost 2yrs with a small reduction made. No idea if offers are real as it's with bloody purple bricks and they neither answer their phone or reply to emails

I try and get 10-5% off an asking price. You should see the comps for the area (sold prices on rightmove for example). Your offer sounds too low and they will not consider you serious as it's probably priced having taken the condition in consideration. But check out the sold prices so you can back up your offer.
I'd offer £200 negotiate from there and if survey tosses up something renegotiate.

We paid £42,500 when it was up for £49,000. This was in 2001.
A beautiful 3 bed semi in rural Derbyshire.

Recently sold it for £290,000.

Gave my ex half the profit.

It depends on the market where you are. When we bought 4 years ago it was a seller's market here- everything was going through really quick with viewings on an open day, bids the next day and then sold within a week. We offered on a few houses at full asking price but we're then asked "how high can you go?" and it turned into an auction as so many people were trying to buy, and we were outbid.
In the end our house was on at £325k and we paid full asking price, others offered more but we were first time buyers so could move quick.
It was a bit of a shock to me because having watched Kirsty and Phil for years doing haggling on the phone, I thought there would be a bit of negotiation!

Offers over £160k. Paid £166k best and final offer in a bidding war.