If a property is on the market for 147,000

[GoatsHaveStrangeEyes]

How much would you go in with a first offer?

Estate agent has said seller is prepared to take 140,000 for a quick sale, do we offer that straight away or less?

First time buyer so all new to us!

If they've already said they'd agree 140k I'd go in a bit less, probs about 135k maximum as a first offer.

Depends how much you want the house.

If you can take £140k, then I'd say offer £137.5k max; see what they say.

If they refuse, agree to the £140k, on the proviso that they remove the property from the market immediately, and no further viewings take place.

How much do like the house? How much are you really prepared to pay? Are you renting or still have to sell your own house? Has the vendor had many second viewing or offers before. How long do you intend to live in the new house for? In some cases it is worth to pay a little more just get thing going smoothly, not too much of course. Otherwise you will have to spend more time to look again or spend more on rent etc. Then you will still have to go through it all over again in the end.

offer what you want to pay and what you think it is worth. If you really want it, offer the 140k and say that is as high as you go.

I think i would go for £140k subject to survey and searches, establish the principle that if it needs another dpc or treating for woodworm etc or a sash window needs replacing, you can take the money off the purchase price.

Have you researched what similar houses have been selling for? You wouldn't want to offer 140 if the identical house next door sold for 100 last year.

Have done plenty of research on the area (we currently rent a house around the corner). These houses were only built 7 years ago and not many have sold since then. Tbh most have been bought with buy to let mortgages and are being rented out. This one is being sold to free up capital for the vendor, has only been on the market since friday and we were the 5th viewing! It will go quickly as it is cheap for what it is and the area it is in.

We offered 135k and they said no. So we have said 140k is as much as we can do. Waiting to hear back now.

Good luck!

They have accepted 140k which is what we were expecting.

The last house in the area which is similar to ours sold for 149k last year. I'm not sure what to make of that.

We already know a big link road is being built right next to us in the next year or so, that might devalue it. But we are planning on staying here for a while, at least til the children are grown up anyway.