quick question

[DelGirl]

If you saw a property for sale with an asking price of 'offers in excess of 300k' and assuming there were no issues with it/all up together then would you be inclined to offer 305 or above or would you think that the vendor should accept 301+

tia

It depends on how quickly properties of that size/value in the area are selling. I suppose if I thought it would be snapped up fast I'd say £305+. If I thought they were taking the piss a bit and knew that the market was slow, I'd go for £301.

I'd look on nethouseprices to see how much they'd bought it for and when. I'd also take into account the general trend of property prices in that area, as well as if the property required any work. Then I'd offer based on that.

well I know it was bought for 245 in 2003 but has an added conservatory and nice landscaped garden.....no work needed at all. Popular location. thanks for input. I think price is realistic not greedy.

Is there a comparative house in the same road that has sold more recently?
I'd base what I wanted to pay on what it (or similar) sold for in 2007 or thereabouts. Depends where in the country you are of course.

You offer depends on your situation too, if you're not in a chain etc it can really work to your advantage when offering.

yes, one went for 310 in August, slightly bigger downstairs but no conservatory. Will look at 2007 prices thanks.

There you go then, if it's pretty similar then I'd say £310 should be your ceiling but if you're in a good position then make a cheeky offer a bit below £300.

I love the negotiating bit of buying and selling houses . Good luck!

ok confession time, it is my house. Was valued at 320 by 2 agents and 310 by another. I think that is over optimistic but one agent was convincing so I put it on with them almost 3 weeks ago. I've had 2 2nd views and one other but since then, another has come on at 310. Another viewing booked this week. I spoke with a colleague of the agent and they seemed to think 320 was too high so agreed to re-price at offers over. I'm not desperate to sell but I would for 305/10 as I think that is the right price. She said 'the floodgates would open and she is sure they will get a sale quickly'. Bit bemused at the initial valuation as I said at the time I was realistic, not greedy as that doesn't get you a sale, does it!

hopefully my confession won't peeve people, just wanted a view from a buyers prospective.

perspective duh

oh and no chain involved

Have to say that it sounds as though the people you've had to view it just haven't fallen in love with it enough to put an offer in - if I was prepared to pay £300k for a place and it was on at 320k it wouldn't stop me making an offer. I take it you've told the agent the kind of price you'd accept too...

So at the moment is it on at offers over 320k?

no, it was on for 320, it has now gone on at offers over 300. It's been on less than 3 weeks but I think I should have gone with my instinct and put it on at 310 to start with. I wouldn't take less than 300 at the mo and it's not urgent that I sell, though i'd like to.

From what you've said it sounds as though you're being realistic - good luck and I hope you get a meaty offer soon :)