What offer would you make?

[Lottie4]

Most suitable property for us is on at £249,950. Does need a bit of changing around to work for us (unfortunately undoing/changing improvements current owner has done) and agent suggests boiler has seen better days, so think we need to spend approx. £16,000 on it. We told agent our max was £230,000 (we had allowed up to £20,000 for improvements on top of this, which we didn't tell them!) and they still gave us details of this property. It's been on the market for five months, hasn't sold, whereas all other similar sized properties coming on the market last month in immediate area sold within 1-3 weeks (our own property sold within two weeks, and this style normally takes 5-10 months, so most things are moving quickly except for one we're interest in !). Property is empty. Even though we need to make alterations it is well presented and very clean, so could live in and feel comfortable immediately. No one else seems to be interested.

Just wondering what offers others would make

Has the house been reduced in price at all since on the market? Are the houses that sell quickly in the same condition/price range? What is the changing around you want to do? These things easily cost a lot more once you start ripping things apart.

I would probably knock 25-30k off and just try. They can only say no.

£230k and be clear this is your absolute maximum

Get on rightmove, or similar, and see what has sold recently and the price its gone for. Base your offer on what you can afford and what things sell for.

Thanks for your replies. The property hasn't been reduced, but they changed agents in November. The other properties have been in the same price range as we've been keeping a close eye on what we can afford and then noticed them going quickly.

Property appears to be in good condition as they've made alterations, everywhere is painted and it looks nice. Alternations we want to make, change velux windows they put in in loft to dormer windows as you can't get a wardrobes in either room so not liveable rooms for us (many others have done this), reinstate one internal door and external door to kitchen. Also, kitchen looks to be 3/5 years old, but they put a wooden worktop on which isn't in brilliant condition as they don't have a sink drainer and damp has been hanging around on top, so worktops and sink with drainer. Also, budget for new boiler in near future just in case it goes.

Just put details into zoopla website with details of refurbishment and that's coming up with £216,000. Our own house is coming up as £188,000 and we have an offer of £187,000, so think we could be right in keeping offer low.

I think it depends on how much you want it, and how you would feel if you lost it, and how often suitable houses come up. We bought a year ago. We had not expected to be able to find a house with both a garage, off road parking and an upstairs bathroom. But such a house came up. We could not deceide wether to make a lower offer, and risk loosing it, or go in at asking price. In the end we offered the asking price, which was accepted. We are so glad we did, as there has been nothing else in the last year which matches what we have, so although we may have paid a bit over the odds (or maybe not, as our research suggests was a fair price), we think for us it was the right decision. And had we have lost it, we would most likely still be in rented accomadation

It doesn't sound to me like those alterations add up to the £16,000 / £20,000 you've worked out, and none of it is necessary, its basically your taste. If the £250,000 or thereabouts is realistic (or the vendors think so which is the crucial point) then I wouldn't be knocking off £20k just so you can change it to your exact requirements. If they're desperate, or have other reasons for wanting a sale, or they built in some slack to the asking price, then they might go for it, but if you're looking to be persuasive about why the vendors should accept your offer, I think you need to change how you phrase it.