Offering on a house - too cheeky?

[Sarsparella]

Finally found a house me & DH agree on & want to put an offer in, but I do think the asking price is way off

The house right next door sold for £50k less than the asking price just 6 months ago, it’s of a very similar standard, same number of bedrooms but the one currently on the market is an end terrace rather than mid & has a driveway

Now I don’t think being end terrace & a drive is worth £50k more, but how low an offer would be considered do you think? £20k less?

I’m going to tell the estate agent the reason for the lower offer, but don’t want to go so low they’re pissed off with us!

House is up for £270k, next door sold for £220k.... offer thoughts anyone?

Need a RM link. Also depends entirely on the vendors situation. If they really need to get shifted, 10% below asking might be perfectly acceptable. Or they might just think you're a nutter. Also, what position are you in? House all sold, complete, mortgage organised and waiting? If not, don't waste their time.

Tricky. Normally I get a bit annoyed at people making cheeky offers that are actually a bit offensive. But. It seems like you're being pretty reasonable !

The market has gone up since 6 months ago, so factor that in. And a drive is worth quite a lot actually. if not so much in valuation but saleability. I think offering 250 is reasonable.

Depending where you are, house prices have risen quite a bit in the last six months, it could also be the the neighbouring house accepted a low offer for a quick sale. A drive and end terrace does add value obviously, for example i would never consider a house without a drive, and an end terrace is effectively a semi.
You offer what you think it is worth to you, but if its not realistic they will decline.

Ultimately it depends on what you want to pay for it, and what you can afford. But don't worry about being cheeky. Put in an offer of £240k, settle at £250 maybe?

Oh. And if it's an end terrace what does that mean for back garden access compared to the other? Does it have to give access to other people or not?

Has it been on the market for ages with no offers/sales fallen through? Is it in an unpopular area? Has it been on the market 2 mins in a popular area and likely to get snapped up by tommorow dinner time?

Cheekiness is about context.

Where I live house prices have risen on 6 months or at least the prices asked have and a drive is also worth more, they probably paid more to have a drive in the first place, end of terrace is usually worth more than a mid terrace in my experience.

Need links but end terrace will be much more sought after than mid... Likewise, off road parking is much better than having to park on a road. Depending on the condition of the house the differences could add up to 50k.

The house next door to ours just sold for 150k more than ours is worth with only 1 more bedroom and 2 more bathrooms. It's also got a much smaller garden, but it's all recently been done up to the highest standard inside and out so I'd say it's worth it.

the mortgage valuation who compare properties in the area including the one that sold for 220k will probably value it lower in any case, unless you are putting down a huge deposit. Both sons put in a cheeky offer on a property and were accepted.

On the market information you should be able to see what they bought it for depending on how long ago it was.

A driveway is big thing for me, I actually wouldn't consider a house without one, also I wouldn't have mid terrace, but I would consider an end terrace ... given that, I would happily pay £50k more than an neighbouring property. But ... a house is only worth what someone is willing to pay, if you don't think it's worth it then put in an offer of what you think it's worth.

What else is currently on the market in the area? How long has it been on the market, and how badly do you want it?

End terrace and off road parking definitely make it worth more than the other one.

I would agree with whoever said start at £240k. End point will depend on how quickly they want to sell and how far you can stretch.

A friend an estate agent said off road parking is not taken into much consideration by mortgage lenders, but if you are not borrowing a lot of the money it wouldn`t matter so much.