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Original poster

If a house is on at £124k....

49 replies

Becaroooo · 22/09/2011 09:18

...and needs a couple of new windows, a new kitchen and (poss) bathroom what would you offer?

Obviously its already under the SD threshold, but I wouldnt want to offer more than £110k.

Too cheeky??

(its no upward chain, so they are probably willing to wait it out)

OP posts:
mollschambers · 22/09/2011 09:53

£110k. In fact I'd be tempted to offer slightly less initially and then increase to £110k.

Original poster
Becaroooo · 22/09/2011 10:28

Really molls What would you start at?

Its a 3 bed 3 storey victorian end terrace with a walled garden

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Mamathulu · 22/09/2011 10:55

Where, though? It's all about location, isn't it - we're right on the commuter line, and have good schools in the town, so the prices are staying really high, whereas as soon as you step outside of 2 hrs of London it seems to get a lot cheaper. I'd love something like that, but we could just never afford one here.

Original poster
Becaroooo · 22/09/2011 12:12

mama Its in a village in Derbyshire which backs onto my sons school playground!!!

OP posts:
coccyx · 22/09/2011 12:19

doesn't the 124k price tag take into account these things?
worth a go

Tonksforthememories · 22/09/2011 12:38

How long has it been on for? If it's been a while they may be getting disheartened regardless of lack of upward chain.

Offer 105! The worst they can say is No! :o

luckymuvver · 22/09/2011 12:57

I would go low too, the market is so slow that it's worth a try ... not cheeky at all. When I've been selling, potential buyers were putting in all sorts of offers. At the end of the day, the house is worth what somebody is prepared to pay for it and what the seller will accept. Just negotiation.

JillySnooper · 22/09/2011 12:58

Depends.

How long has it been on the market ( use property Bee!)
Has it been reduced at all?

mollschambers · 22/09/2011 13:29

I'd start at £105k. If you don't want to offer more than £110k then you have to go in lower initially.

wonkylegs · 22/09/2011 13:32

I'd sit down and roughly work out what you thought needed doing and how much it would cost then knock it off saying because it needs £x for this, £y for the other might inject some realism into the offer

scaryteacher · 22/09/2011 15:50

Does it really need a new kitchen, or do you just want one? Same with the bathroom...if it's a want (you don't like what's there), then perhaps they won't drop. If it's actually unusable, then offer lower.

Original poster
Becaroooo · 22/09/2011 17:19

Bathroom prob ok but kitchen def needs replacing...mismatching, old and tatty.

Checked the sale history and they bought it for £124k in 2005!!!!

What is wrong with vendors???? (or is it the only ones I deal with???)

OP posts:
JillySnooper · 22/09/2011 18:01

Then you are getting a bloody good deal.

bibbitybobbityhat · 22/09/2011 18:02

What is your point about them buying it at £124,000 in 2005?

From where I'm sitting, that is an utter bargain.

JillySnooper · 22/09/2011 18:03

X posts bibbity Grin

Original poster
Becaroooo · 22/09/2011 18:05

They bought at £124k at the height of the market.

They are putting it back on at £124k now in the middle of a housing slow down/recession.

Is it really only me that thinks thats unrealistic??????

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bibbitybobbityhat · 22/09/2011 18:06

Erm ... my house has increased in value £250,000 since 2004. Is it really so different where you are?

mollschambers · 22/09/2011 18:11

The value you or anyone places on a house is pretty meaningless unless someone is willing to pay that for it. Nothing to lose by offering low. Everyone else is.

Original poster
Becaroooo · 22/09/2011 18:13

Are you in London or the SE bibbity ?

I am in East midlands.

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bibbitybobbityhat · 22/09/2011 18:15

Have you looked at nethouseprices.com?

Tells you the sold prices in the immediate vicinity, up to about 2/3 months ago.

Let that be your guide.

Original poster
Becaroooo · 22/09/2011 18:17

Have looked at the rightmove one...isnt it the same??

Trouble is its one of those villages where there are lots of different types/periods of houses, even on the same road, so there arent that many the same as this one to compare IYSWIM?

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bibbitybobbityhat · 22/09/2011 18:21

nethouseprices will tell you how many bedrooms a property has. It will give you a more accurate picture than randoms on the internet. Two of us have said if a house is up for sale at its 2005 price then that seems to be extraordinarily low, but then obviously house price changes have affected where we live rather differently to where you live.

Original poster
Becaroooo · 22/09/2011 18:28

Generally houses here are selling at less than they bought for pre 2007. There is the odd exception.
We have friends who bought in 2006 at £145k
Just sold at £125k (after putting in a new boiler, new windows and new kitchen!)

OP posts:
JillySnooper · 22/09/2011 18:33

Either you know your area well and know what a house is worth, or you don't.

But asking internet randoms who don't know your area what to offer is a bit like pissing in the wind.

Original poster
Becaroooo · 22/09/2011 18:39

Fair point jilly

I lived in the area for 27 years, so am pretty clued up on it, and yet am really surprised by what some vendors still seem to expect in this market.

Can only offer and see what they say, I guess!

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