What would be a reasonable offer for this house?

[Rainbowhairdontcare]

Our max budget is £205k (which I think he would take) but I don't want to offend him with our first offer!

I found this property on the Rightmove Android app and wanted you to see it: www.rightmove.co.uk/s6p/73170334

Link?

I found this property on the Rightmove Android app and wanted you to see it: www.rightmove.co.uk/s6p/73170334

You're buying a house not dating the vendor. It's a clean business transaction where both parties want the best for themselves. You are expected to under-offer, the estate agents will try to get you to offer more only because they will probably get a bigger fee and the vendor wants rid ASAP for a reasonable price. Offer £205, the agent will pretend to call the vendor and tell you it's too low, you offer £208 as the best you can do, the agent calls the vendor and tells them they're lucky to get it and jobs done. Perhaps a bit cynical?

I'm aware how it works. First house I bought I had a discount of at least £8k, second time got a discount of £35k.

I thought I'd originally go for £195 with this one but thought it would be too low.

Have you looked at sold prices for that area? They expect you to under offer? Is the market is buoyant in the area or a bit stagnant?
Around where I am the houses were sitting on sale for months whereas things used to get snapped up. I’ve just started to see a lift again in properties on for sale and actually moving.
It seems a bargain to me for 215 but I’m in commuter belt in South East.

I was thinking 195k.

10% less than asking price is a good opening offer, it’s only been on the market a few days so you may have to be patient.

I’d say £200, they’ll come back st £210 then you go halfway to £205.
But you could try £195 - the worst thing that could happen is they say no, which just means you up your offer.

And I’m sure I’ve seen this house on mumsnet before?

Yea, it's only been on the market for a few days, so I know they wouldn't bite my hand off.

No other recent sales on the same road/area.

For reference, a small period house (same number of bedrooms) went for asking price on the second day in the market

Yes I saw this house in here a few days ago!

I'd go in 200 and prepare to walk away.

Yes, it was me :)

This is the same house, isn't it? Sold in 2007 for £179,950. Looks like they've put a lot of money/work in on the outside space/kitchen/conservatory etc. They probably wouldn't go much lower than the asking price, if at all tbh.
www.rightmove.co.uk/house-prices/detailMatching.html?prop=4329560&sale=81738249&country=england

Similar, home but not the same one.

www.rightmove.co.uk/house-prices/detailMatching.html?prop=2433460&sale=81738246&country=england

They paid £150k in 2005.

I think that's lovely and well worth the asking price!

I'd offer the full asking price as there is nothing to do to it, apart from decorating it to my own taste.

It's irrelevant what they paid for it 14 years ago as prices have changed so much over that time.

I don't believe in buying for full price. I agree it's a good value in comparison to other houses, but haven't seen enough similar one to know if it's fairly priced or not. Saw a similar one sans conservatory for 205 for example

What you believe and what's achievable don't necessarily coincide. You can but try.

We've always had two contenders when making offers so we have both a fall back and leverage when negotiating purchase price. You need to give a rationale for offering below asking and if you're prepared to go up then a figure which isn't a round one looks like something you've worked out you can afford. If it seems too much like game playing to bag a bargain it can misfire.

Indeed, I have a few reasons to "discount" the price.

• New bathroom suite (not urgent but not new either).

-some rooms need new carpets/floors -general decoration. -garden needs to be re astro turfed

I know the conservatory was second hand, but no idea if I can use that as a reason.

I don't believe in buying for full price

What makes you think that the issues you list haven't been taken into account by the vendor when pricing the property?

Erm those things will be taken into account when the owners had it valued?

Also Astro turf is your want- it's not a necessity and I wouldn't be reducing my price for that (and environmentally it's awful).

When I sold my first house, I inflated the price knowing that somebody will always offer below asking price.

If they have considered it or nor that's beyond what I can do. The truth is is if they don't accept 205k the house isn't for us, and we'll just have to keep looking.

I don’t think those are reasons for discounting. It’s an offer, they may accept, they may not. Worth a go!

None of those things you've listed is a reason to discount the price. A bathroom suite that's falling apart, yes, but just to have it to your taste, no. It is not a given that carpets are included in a sale either, though I think these days they usually get left. Be careful how you couch this as you may find all you do is put the seller's back up.

You need comparables.