…to ask what to offer for this house?

[HouseBuyingNovice2022]

It’s so difficult to know what to do in the current market, so I’m grateful for any advice/tips I can get!

www.rightmove.co.uk/properties/127313855#/?channel=RES_BUY

Have fallen in love with this house (obviously haven’t told the sellers this). I want to offer but simply don’t know where to pitch it. It seems to have been reduced by £50k since originally going on the market (not sure why) though the owners say that they’ve rejected at least one offer they’ve had because it wasn’t at a number they could accept…so I’m guessing maybe they aren’t totally desperate (?).

Help! Minefield!

Those pictures look like they were taken during the summer months so it’s been on the market a while so I’d say it’s still overpriced.

This is local to me. Its a beautiful place!

Such a small world!! I know someone IRL that is also wanting to make an offer on this house (it’s lovely).

If you're not a tiny bit embarrassed by your first offer you've gone in too high.

If it's far too low the estate agent won't be shy in telling you.

You're buying the house, not making friends with the owners.

Good luck OP - apart from the pink curtains in the bedroom it's a gorgeous house

Fair play to you OP, beautiful house.

We know this area well - I used to live about a mile from there. Do you know the village?

I have been watching the market in that part of the world for a while, having fallen a bit in love with a Georgian house close by. Properties are getting reduced or relisted, but not massively. £650k-700k would put you in the bracket for a really sizeable old house as long as it wasn't in Melbourne.

I think it's a £575k house - worth a try anyway. Good luck!

Are you the vendor?!

No absolutely not, I promise! I live nowhere near, nor am I familiar with the area, but a uni friend shared it on our WhatsApp group

Lovely house but personally I wouldn't be moving right now. It's just too unpredictable for me.

But £550 would be my starting offer, or lower.

I'm amused by how many of us seem to be local.

And slightly unnerved by the thought that I might find myself doing my shopping next to one of the more combative MN posters!

This is super-helpful and puts things into perspective. Rightly or wrongly I think I’d be nervous of offering £550k (given the £650k original price, even though that is arguably irrelevant) in case it ruffles feathers and potentially undermines my position somehow. Maybe I’m over-thinking it, but I always feel that houses (or rather, homes) are incredibly personal so there is probably going to be some degree of emotion involved in this kind of transaction - even if you’re the most seasoned of sellers/buyers! And I guess I don’t want to annoy my sellers enough to warrant them telling me to jog on!

OMG, noooooooooooooooooooooooo!!!!

No pressure, then! 😂 😂 😂

I think its important to remember that we are teetering on a recession here.

A couple of months ago houses were being sold in my local area without viewings and now the market is saturated.

Will you be considerably upping your mortgage OP?

😂 at the pink curtains comment! No idea whether they’re included!

Maybe go for £555k? Bit less wince inducing perhaps?

I always think framing the offer a la Phil from Location, Location is a winner.

”the house is on for £600k and we have an offer. We are SSTC and in a good mortgage position. We’d like to offer £555k, on the condition that the house is then marked under offer and marketing stops. Can you discuss with the vendor and come back to me?”

In a chain full asking. Cash buyer 550

Sorry that was @flingingmelon!

I’m local(ish) to the area. I’ve seen houses of a similar size around here, in much worse condition, go for around the same price. Bonkers.

550000 seems like a very low ball offer if you want it, go £580 if you're really unwilling to pay asking price.

The market is really weird at the moment. We're trying to sell & don't have any interest - we reduced ours by £50k because we're getting narked off. But even that hasn't made a difference in fact we were getting more viewings when it was at the most expensive. I don't think there's anything wrong with our house I just think we're in a tricky market

@JennyForeigner I’m with you and also slightly disarmed by the fact that so many of us here have probably popped more than once or twice in our time to Saino’s in Melbourne for bread and milk… At well, at least I’m anonymous! Love this area, though, so also no apology for that!

If you are selling your house and buying another then it's all relative.

However, if you haven't anything to sell then there is no way I'd be paying anywhere near the asking price and would wait for the market to drop. It's been reported that property prices are up to one third over priced.

Nice house, expensive to run with those cold floors. Overpriced, done up to the hilt so no room to improve, only live in. They can't sell too low because they need to make their profit after sinking a lot of cash into that interior, thats why they are holding out for 600k. Offer £550k no more and keep looking as they are unlikely to accept.

Good luck with your sale. Sending you all the good vibes!

Ooh it’s lovely.

Very tricky right now. Are you needing a mortgage?

Unfortunately yes - imagine not needing one! That would be the absolute dream!