How much to offer?

[Blackfellpony]

I know it's how long as a piece of string but how low is offensive?

House been on market 2 years, reduced June 2015 and still listed. It's a pretty standard semi, ticks all boxes except the big garden one but it is in a very good location and has lots of lovely original features. I'm not sure if the garden issue will be too much of a compromise for us but I have no idea why it hasn't sold so far.

It's on at 209k oiro, over our budget by at least 20k is it worth a view? Should I let them know I can't afford asking before viewing?

Definitely don't give away your position before viewing. Go and see if you like it before thinking about offers. That might make the reason why it hasn't sold obvious.

No way should you be saying you can't afford £209k before viewing! Keep your powder dry! It's been on for absolutely ages, so I wouldn't have thought an offer below £209k would be unreasonable. But have a look round - there must be a reason it hasn't sold. Maybe the vendors have wildly optimistic expectations re price, or maybe there is something fundamentally wrong or awkward about the property. take a look and then assess how much you think it's worth.

Thanks both of you.

I wasn't sure of the etiquette with viewings. So if I can afford say 180k max what sort of price should I be viewing up too?

There proberbly is something awfully wrong with it as normally houses fly off the market here. It's expensive for a 3 bed in the area but I would say it's in the best street so maybe that's why.

The house we purchased we managed to get for £40k under asking price as it had been on the market for over 2 years. This was at the height of the recession though. You've got nothing to lose by putting in your best offer if you like it. Good luck.

Does the £180k max take into account things like stamp duty, moving costs etc?

If your £180k max is for the purchase price only (i.e. you can pay stamp duty and fees on top), you could view up to about £200k - £210k, although it depends what your local market is like. When I sold my last house, it went for 5% over the asking price. But we bought our new house for £5% less than its asking price (it was a move 'up', so this was a significant 'saving'). So do your research to see whether properties are going at the asking price or higher, or whether offers are considered.

This one has been on for so long I would definitely think about a lower offer if you like it.

No we have extra for stamp duty and moving costs but I would say 180k would be the max we could afford mortgage wise!