First time buyer offers on reduced houses

[MGrey]

We've seen a house thats been on the market since Dec 2016 but has been reduced twice since then from 200k to now 175k but states fixed price. I've read that this doesn't necessarily mean fixed priced but as a first time buyer I'm abit unsure of whether to put in a further lower offer? And if so what's reasonable? Any input would be greatly appreciated.

You have nothing to lose by putting in a lower offer.

What do you think the house is worth? How does it compare to other houses that you've seen? Pricing can be funny sometimes so I'd go with your judgement and not look at 'fixed price, overs in the region of, overs over' etc.

It's also possible that you see what others don't. For example, our current home had been on the market for ages, the price was dropped a few times but there was no interest. I knew within a few minutes of the first viewing that I desperately wanted to have it. I think other buyers couldn't see past the terrible layout, decor and smell.

What would you offer for it if there was no asking price? Offer that.

Unfortunately I think the property is worth around the last dropped price but if I'm on honest it would be the top end of what we could afford and if possible would like to get them down further just so we would be in a more comfortable position. We have the deposit ready and have an agreement in principle so are good to go.

It's an old house that quirky and states on the listing by the agents 'if you're looking for something different then this is the one for you.'

I'm currently pregnant with our second child so we would like a house with alittle space and this one has that as well as being alittle different which I absolutely love.

Just to add it does need alittle cosmetic updating inside but it's nothing great or substantial. But I suppose it is just more personal taste.

Sounds like they are keen to sell OP, and also you seem in a strong position with your finances, no chain etc.
Personally I'd offer £165k and hope to get it for £170k. The 5 you save would then cover a good chunk of your fees, if the vendors are willing to come down! Worth a try. Good luck!

And you can add a bit of info about your great buying position. You could also say that you really like the house but having considered your finances and the state of the house, you are in a position to offer 165. I suppose you might as well try.

We want to move quickly too. If they'll come down alittle more we would snap it up. Thanks for all the input. Keeping my fingers crossed that they are just keen to sell it now and will accept a further reduction so we can get it all done and dusted.