What would you offer?

[Alexalee]

www.rightmove.co.uk/s6p/80790425
Needs a new roof, re rendering, all new windows
Internally it needs taking back to brick, so everything doing
Builder reckons wont see any change from 50k, that's with no extensions at all, just refurbishing it as is back to a decent condition
Value when done will be absolute max 450k from what we can tell for the area, maybe a bit less

Alexalee you could always put your offer in, they will ask you to explain why you aren't offering the asking price so tell them. The worst they can say is a flat out No but the EA do have to pass the offer on.

I wouldn’t offer a penny over £325,000

It’s never a waste of time to
Out in an offer in a house you want..but to be honest, you don’t sound like you want it that much??

I think if you do reconsider putting an offer in you need to factor some work into the renovation that will improve the space/layout etc so that you have something to look forward to, not just restoring it to what it is.

Incredibly ... I did ask the builder how much for the rear extension and a loft conversion with a bathroom under permitted development rights would be... he said at least another 60-70k.
I was really excited about it when I first saw it but as you say it is a lot of work to just get it I to a liveable condition... it's a shame the property was allowed to get in this state and it is priced as if it just needs a lick of paint. I would be surprised if any work at all has been done in the last 50 years

On the plus side there isnt really anything that can come up in the survey that would be a shock... unless there is subsidence, but there were no obvious cracks

This is quite an interesting tool…

www.nationwide.co.uk/about/house-price-index/house-price-calculator

If you put in the value of 147 that looks similar you get a value of £321k

When you do a Reno... always double it! And make sure you keep 20% back as a contingency. Things always get uncovered.

Fee fee I dont think there can be much left if all that is staying is the 4 outside walls... but I'm sure things would go over budget

If you love the house and think of staying there long term put in your offer, say £320K, and give the (true) reason you aren't offering more is due to the cost of putting the house to rights and that even then the valuation would be less than the other house which sold recently. No wonder no builder snapped it up themselves.

If it's a probate sale ask the state agent if more than one vendor is involved - this can often be the problem of disagreement.

350-375 max -