how much to offer?

[threeleftfeet]

If a house was on the market for £155K, how much would you think was reasonable to offer for it?

(if there was nothing obviously wrong with it)

It would depend entirely on the area, condition of house, and how long it had been on the market!

G'wan... link!

OK :)

How about this 2 bed terraced house

Or this

I don't know the areas but the second one has a good sized garden for the price. Both are nicely decorated too so I wouldn't knock money off on that basis. Have you looked on zoopla at value estimates? A house is only worth what someone is willing to pay. Our house was on at 155k when we bought it and offered 145k initially eventually paid 149k. It also depends how motivated the vendors are.

Ok, so am offer of £140k might be a little on the cheeky side then?!

It depends on what you think it is worth. How realistic is the asking price? If you look at the sold prices of similar houses that should give you an idea.

Ask £140k - they can only say no. Depends how desperate they are to move?

It also depends on your circumstances and those of the vendor. For example, if you're a cash buyer and they're desperate for a sale you will have more room for negotiation.

Agree with checking zoopla for recent sold prices in the area, should give you a good benchmark.

When you put your offer in, detail all the stuff which makes you a good purchaser - cash buyer/mortgage in place/chain free/wanting to move quickly/whatever is true and think will appeal to the vendor. £140k is 10% below asking price, so not that cheeky an opening offer. Be prepared for them to reject and decide beforehand what your upper limit is.

Good luck!

I would start at £148,000. But then I am vair impulsive :o

And if i REALLY REALLY wanted it, i would probably get in a flap and pay the asking price. But I am vair vair vair impulsive!!!! :o

Upper limit will probably be £140k, (getting valuations in a couple of weeks) But the houses I like are all on at £155k+

We are in a good position (cash buyers, no chain). Will certainly bid at those prices just in case, but trying to work out what's realistic.

Suspect we'll be lucky to get something on at £155k!

At what price do you think people would expect an offer of £140k?

The prices round here have actually gone up in the last 6 months, for this bit of the market anyway. We started looking at the ads, just to see what was available before christmas, and there was much more choice for us then. (the property we're selling is in an area where prices have dipped slightly over the last 6 months),

You can look at recent Sold Prices for any area here:
www.rightmove.co.uk/house-prices.html

Use PropertyBee to see Price Changes here:
www.property-bee.com/

Or start an Eastbourne thread here: www.housepricecrash.co.uk/forum/index.php?showforum=54

Can you find anything at all on your budget with two proper double bedrooms? Both those houses are really only one and a half bedrooms - which would mean a tiny market for selling on.

The second house has a bedroom with a measurement of 5'8"!!! saw your other thread about having one DC and wanting another (I think!) and can't imagine a room that size would take 2 children.

Are you sure prices have gone up or is it that now you are looking more seriously you are more picky and so what you want costs more than you thought? I look at houses in theory but when I go at it with a focused checklist what I want always costs more than it seemed to at first!

Nothing wrong with cheeky offers maybe try a couple and if you keep getting rejected then you'll know you need to adjust expectations down?

Wow that is small! I usually do check dimensions - that one slipped me by!

"is it that now you are looking more seriously you are more picky and so what you want costs more than you thought" To be fair I think there's a certain element of that.

However prices have definitely gone up. Zoopla comfirms this over 6 months and 12 months - only a gain of just over £1K overall, but I reckon it's more than average in our bit of the market.

I can see the reason why I think. Family houses are affordable in our town in a way they simply aren't in popular nearby towns. I think we're getting overspill from those towns - and places like London - as people like us are priced out of the market there. Many of the people I've met with young DCs are incomers, just like us.

Asking prices have gone up but completed transactions are another story.I think 140k cash is fine.

That's an interesting perspective Noddy, I hadn't considered that :)

"Nothing wrong with cheeky offers" reckon I need to have a go at making some then :)

IsaacNewton Thanks, I'll have a look at those

bibbitybobbitybunny we'd be very lucky to find a house with two proper double bedrooms. A small second one is typical at this price (although not as small as 5'8!!)

Like this for example or this