What to offer?

[vinoandbrie]

We're in the process of moving to South Manchester, and I would be so grateful for advice / thoughts as to how much to offer on a few properties:

1. Needs updating. Was on for £775, reduced to 'offers over £740'. Best location.

2. Dream home. On for £850. This would be a stretch. Just on the market this week.

3. Modern house, on for £750, been on for over a year, no offers apparently. Think it's priced too high?

We would want to stay in the house for at least 10 years. I'm feeling all at sea at to what to offer / whether to offer. We are moving to the area and I don't want to offer too low and get laughed at, likewise I don't want to go in too high!

We will (hopefully) be in a strong position as we will be starting to offer only once we've exchanged here, in a few weeks time if all goes well.

TIA.

Are there any other factors other than price? Are you bothered about school catchments etc? Are you planning on offering on all 3? You don't know whether they will still be on the market in a few weeks time but it really does depend on location I think. We're around there and depending whereabouts the properties are, there are definitely sought after roads (where properties will jump off the market) and others that are good but slightly less desirable. That factors in to the prices - some you might end up going to best and final offers (we did although ours was much cheaper so lots of people trying to get a foothold locally and not many properties come on at that price), others you might get lucky with a cheeky offer. Not much help am I?

Thanks Mandy, the location is Didsbury / Chorlton, and we'll not offer on all three, we'll go for one and see what happens.

Fortunately school catchments not an issue.

Agree what you say about them maybe not even being around in a few weeks... We're not currently near enough to go and see any, which is pretty frustrating!

I think the norm is to offer less than asking, but how much less? It feels like a game I don't know the rules to!

The only thing I would say is that the owners of (1) are obviously keen to sell if they have already reduced the price. The owners of (3) may be holding out for the full price if they've been on for a year - they may have rejected offers in that time.

I think you have to decide which is the best house for you, keep an open mind, and make an offer. If your offer gets rejected then you can move on to your second and third preferences. You are actually in a strong bargaining position, you can offer less than asking and make it clear you have other options.

Where in South manchester? Is it Didsbury? If so I've noseyed on Rightmove?

1. if you made a cheeky offer below 740 and got it for a steal, works you want to do it up?
2. how much of a stretch would it be?
3. if it's on the old hospital site don't touch it. They have massively depreciated, and if you only plan ten years there it's risky. Nothing is shifting there and I've heard stories of people losing six figures selling on. Plus west Didsbury has a very different vibe to east.

Of the three, if I could afford it I'd go for your dream house. You will pay extra for the street name. It's one that's well known (Richard and Judy lived on it before This Morning moved to London). How far along the road is it though? Can you hear the traffic from the main road if you are sat in the garden?

Thank you all! Negroni that is hugely hugely useful, you've potentially saved us from a very costly mistake.

The dream house is up the park end rather than the main road end. Financially, we would manage, but the race would be on for me to get back to work early next year (am on mat leave), before our savings run down too much. I am tempted, but goodness knows what it will eventually go for.

I am hoping we could get a bit off but goodness knows, if there's a queue of people, we couldn't really compete I'd imagine.

Which house would you love to see yourself in in ten years time? One will probably come to mind straight away but then you have to think about the pros and cons.

Other than that I'd say if you don't mind the work the property that needs updating would be worth thinking about. It's in the best location and (although it may not tick all boxes) you can cosmetically put your stamp on it.

I think I've Rightmove stalked 2 of them & they both look lush!

I'd be tempted to go for no.1 though as others have said, they will be keener to sell having been on for a year & it may go faster now the market has picked up slightly. At least with the extra money you'll have the funds to do it up as you want it & make it into a proper home.

Dream house looks lovely too, but like you say they may well be a queue of people & it's only been on for a week.

Let us know what you decide to do!!