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Original poster

what would you offer??

10 replies

lokijet · 04/02/2019 15:49

3 year old new build over 3 floors - is on at £780k (having reduced price by £20k in oct) but been on nearly a year.

It has a slightly odd room layout and feels a little Unloved but I think it can fix that. Given where our market locally is going i definitely feel its overpriced and don't think they have had any other offers

Mine is SSTC and I have cash/ mortgage AIP to fund

What would you offer ( I appreciate this is bit of a guessing game but just interested in views - I have already put an offer in and awaiting response)

OP posts:
Alexalee · 04/02/2019 16:50

Look at recent local sales prices against square footage is a good place to start... but yes far too vague. An area would help

cluelesstotallyclueless · 05/02/2019 12:12

I'm guessing you are in the South East.

If it's been on market for a year, originally at 800k, reduced by 20k (which is 2.5%!), given your position I would probably offer £700,000.

Have you heard back yet?

wowfudge · 05/02/2019 16:56

My thought was £700k too.

Original poster
lokijet · 05/02/2019 19:29

Thanks for your comments guys

i offered £715k - rejected out of hand - fair enough its a long way from asking but apparently the estate agent isn't sure they will consider a higher offer unless its asking price

There is a bit of an expectation gap as apparently I'm the only person who has ever shown any interest

I would consider a higher offer but im not sure the vendors are in the place to hear it atm

OP posts:
Original poster
lokijet · 05/02/2019 19:30

PS im actually up North

OP posts:
Cranleighbud · 05/02/2019 19:35

Could you post a link ? Bit hard to say without seeing it

cluelesstotallyclueless · 05/02/2019 20:29

OP sorry made an assumption about location there.

Are the owners the original purchaser, new builds carry a premium and perhaps they feel they need to recover what they paid.

What are sold prices like for the area?

Original poster
lokijet · 05/02/2019 22:10

vendors are the original purchaser - don't really want to post link in case they are on here!! i suspect that this may be the issue as they will be underwater given original sale price

None of the original development have resold and our market is turning down (very thin atm) and there are also loads of new new build developments locally due for completion this year

OP posts:
Alexalee · 05/02/2019 22:46

780k is what they paid, so they are losing money anyway because they would have coughed up over 30k in stamp duty too

Mayrhofen · 06/02/2019 07:26

This is one of the reasons I wouldn’t buy a new build, they are like brand new cars, you lose value as soon as they leave the showroom.

I would look elsewhere.

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