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House on the market for a lot higher than average street price - should I try a low offer?

28 replies

CatAndHisKit · 04/07/2020 00:08

I've booked to view as it's a contender but having looked at sold street prices, I think the agent may have overpriced it. It's a terrace with no off street parking but nice size Victorian houses.

Average prices (last year, several sold) is 45K below this one, they wree all built as 3-beds, but this one has a loft conversion (not done by currrent owners) and one of the bigger bedrooms was separated into two by current owners. They've added a downstairs loo nicely done.
To me this doesn't translate into 45K difference! It's otherwise in good order but not to of the range anything, just prettily decorated.
I'm interested in the location and the general size but would actually prefer second bigger bedroom instead of two tiny ones.

I think they think as they can list as 5 beds, it warrantsa a uch higher price, but it's not really a 5-bed iyswim.

So would it be cheeky to offer half-way - instead of 45K over the average, offer 25K over, but that's a 20K discount off asking price! Would they tell me where to go? [grin[ even though I think it's a good price well over steet average...

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CatAndHisKit · 07/07/2020 18:01

Solo I'm not saying it's not worth more than other houses in the street - I think it IS worth more by about 25K, but not 45K!

Vendors bought it way below the srteet average about 6yrs ago - and now they ask 45K above the top price sold. The loft was there, they did add value with a second batheroom and (to some it's value) the divider wall, but that is well covered by that 25k difference, isn't it!

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CatAndHisKit · 07/07/2020 18:07

Stand despite the loft being there, they paid LESS than the average on the street because the house was mid-renovation (i.e. bathrooms etc). About 10k less or even more, but now it's on 45k more than the top price sold. They did imprve the garden to be fair.

I wonder also about the two very similar ones I'm about to view - they aer much nicer in decor and qualityof workmanship but same sq.footage, same valuation too but there steet average a bit higher. I also am planning to offer a lot less.
Just generally wondering if vendors pay attention to street average and are guided by that when they get offers, or is it purely on how much they think they decor costs were.

I'm a vendor myself but any improvements I've done are down the pan in terns of selling price, it is a more expensive house and they seem to have gone down in price since last year.
All the ones I'm asking about aer below 200K

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CatAndHisKit · 07/07/2020 18:08

*their decor

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