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)

Asking 170, paid 157.

The house needed things doing to make it work for us, but we could move in after a little bit of decorating. The owners were absolutely crazy, and made life a misery for 3 months.
They had an idea of price in their head from their EA which was unrealistic for the area, and considering its ex-council, they paid peanuts for it and did nothing to improve its value, I would have told them to shove it up their arse if we didn’t love it.

We’ve now knocked through the bathroom to one big, beautiful room and extended at the rear so the kitchen/diner is a great size.
We also knew we wanted to buy in the area as we were informed from a friend that worked for their planning department that the tram line was going to be extended to our area in the next 5-7 years, and plans have just been released now, so prices will increase when it has been started/finished as transport links here at the moment are a bit crap. Hopefully it can increase enough so we have a decent deposit for a house somewhere back in the nicer part of the city where I’m originally from.

If it won’t be your forever house always look to see if there is more to be done to it to increase value and offer lower of you know they want a quick sale. Good luck!

2 bed bungalow in the Midlands, was up for offers over £150k, bought last September for £138k, now valued at £200k.

Large 3 bed SW London

Was on for £410k for a year (was in hideous decorative order).

Reduced to £400k.

Offered £380k, got it for £385k but we’d have paid asking price. It was a bargain and is worth at least £550k only 5 years later with around £20k spent on it.

On at £375 needed heaps of work. Paid over £380 in the end but there were 11 offers on the first day. Sold in 2 days from going live. We are also south east. Still think we got an ok deal.

N.london 2 bed flat in 2017.

Was on for 500k and that's what I paid. But was desperate to get it as loads of interest, and sellers not entertaining offers as it was a rental so didn't need to sell

Ours was on £250,000 and we paid excactly that. But it was one of the few houses that had been priced right in order to sell quick. All the rest we saw were about £25,000 - £35,000 more than ours and most were smaller or worse condition or both. This was only less than a year ago.

Bought 2019 - on for 1.295 and paid 1.25

I'm going to buck the trend here. 30k more than the suggested price.

Needed 300k worth of refurb though. 2500 sq ft in Surrey, 3 bed 3 bath huge garden.

Prices in England are crazy compared to what I'm used to. Paid 90 for 3 bed semi in Northern Ireland. Worth about 115 now. New build so wasn't any negotiation

We were the first to see the house and offered the full asking price. There was very little that met our criteria in our price range, still is, to be honest. So, we decided it was worth paying a few thousand extra to secure the house. It was about 8 months before was saw something as suitable advertised.

On at 425, sealed bids, we bid 442 and weren't the highest but got it anyway.

We bought and sold in early 2018. There was little stock on the market so it was a sellers market.

Our house, 3 bed ex-council terrace, sold for full asking price in four days, which was surprising to us as we went on with the higher valuation agent (325k) while the other agent values at 300-310k.

We sold as we liked another property they were marketing at 400k, but we felt it was overpriced for the size (although it was lovely on the inside). Max offer was 390k however it was being sold by a divorcing couple and while the wife would take our offer, the husband wouldn't and was sticking to his guns at 395k. We walked.

Then came a frantic three weeks as we viewed everything that was somewhat suitable, which ended up being around 15 houses of varying degree.

Ended up purchasing our 3/4 bed semi for full asking price at 425k, as it was an amazing space/location for the price. It had come back on the market as the previous buyer couldn't get funding (affordability).

Even though we paid asking price realistically it should have gone for more. The owner was a widow and she wanted to move to be closer to her children up North, so the house was priced to sell quicker.

Never need to move as it came with planning permission to extend if needed (building over garage which already has foundations in place) and has a beautiful south facing garden (prev was North and gloomy).

House prices around here have definitely slower though over the past year due to Brexit uncertainty. I imagine it will start to pick up at some point later this year as more people go on the market to move again.

Ours was up for £735k but was very dated and didn’t have the space we wanted, but the area is lovely and the house had scope for a big extension.m, plus it had been on the market for ages. We offered £710k and it was rejected, so we said ok, we weren’t in love with it, so we walked away. Three weeks later I got a call asking if the offer was still on the table as they’d like to accept now. Fast forward two years, we’ve done the extension and it’s our dream house. It’s like a game of poker sometimes house buying, good luck!

Last year, DS offered £345,000 for a 3 bedroom mid-terrace, needing modernisation in an expensive town in the SE. They rejected his offer. A week later, he offered £350,000 - they accepted it.

On for 54 got it for 45 1999. It’s gone up slightly in price since then 😂

Our house was marketed at £430k but haggle down to £390k.

We were fortunate that we had a cash offer on the house we were selling. By sheer coincidence our buyer was closely related to the vendor of our new house, so the vendor accepted our slightly low offer on the basis he personally knew how committed our buyers were and that the chain wasnt likely to fall apart.

First house - bought it for £2k under the asking price. Sold it 8 years later £32k more than our purchase price.

Second house - bought it for £7k under the asking price. Spent £60k on renovations including a rear end extension. Property was recently valued at £150k above our purchase price so feel very fortunate.

7 years ago.

255k. We paid 247.

Ours was on at 250k - we offered 249k as was everything we wanted and we were first to view. Don’t regret it - would have hated to lose it. Others nearby going for slightly higher now so that’s good too.

Was on for £430K - we offered that and were rejected. Then the buyers couldn't get a mortgage so we were phoned by the Estate Agent a few weeks later.

We offered £465K - we were still outbid, but our offer was accepted as we were first time buyers and were renting so could move very quickly.

Been in our house for over 3 years and absolutely love it

Mine was up for £35,000 and I paid £34,400.

Ours was a divorce sale and on the market for ages. Originally on for £310, then reduced to £300. Then reduced again to offers over £289. We started bidding at £260, a bit cheeky but it had been in with various agents over a 12 month period and we were in good position. Finally got it for £277.

On for £425, paid £395, now worth £650. Spent around £125 on sorting it out.

Ours was on for £615k, paid £580k. Needed a lot of work but came with a lot of land in a very nice town, not sure if we got a bargain or not - my name for it is the moneypit!