Complete novice needs help with making an offer

[cansu]

Have finally seen a house we like. We are first time buyers with just enough deposit! house is on at offers over 200,000 but was on at 225,000 initially. We didn't look when it was on at higher price as knew we couldn't afford it. Anyway it is available again at lower price after sale fell through v close to exchange as their buyers had to pull out when their buyers pulled out. Vendors live elsewhere and there is no chain. we can really only afford 200,000 so do I just offer that or should I offer 195,000 so I can make an improved offer when they refuse? This is first house we have ever tried for so am completely clueless.

cansu I would offer the 195k you suggest. You can always up it. Bearing in mind I would never accept the first offer as this is rarely what someone is prepared to pay. You can always up it to 200k and say final offer as this is the top of your budget.
Good luck !

Thanks they have rejected 200,000 now. Seems they are looking for 210,000. Have also said that they have four more viewings some with people who have sold their properties blab blah. Am going to think it over and see what bank say when we have mortgage appointment tomorrow. Really liked house though so am bit gutted that someone else will come along and offer more really even if we can stretch to 205 or 207 or whatever.