WWYD Cheap house

[Mammawilson]

My limit is £70,000. There is a beautiful house for £75,000 with lots of work needed but not inhabitable whilst the work is being done. House was listed as a 2 bed last week, now listed as 1 bed (possibly due to issues with the loft room)

A House on the same row of terraces and in a similar state but listed as 2 bed was listed at offers in excess of £60,000 in april this year and currently STC, another one in the row reduced in November for £65,000 now also STC.

Question is, in this current market would you put in a lower offer? Was thinking £68,000. Not much is put up for sale in that area, generally older people, most property sold was at least 15+ years ago.

Yes absolutely, but then I always make cheeky offers. Explain why, given evidence of earlier sales at lower price. They can only say no.

I would go lower. If the house is listed as a 1 bedroom, it would probably fail at valuation when 2 bedrooms down the same street are cheaper

Comps are your best argument for low balling the offer. I'd go lower - maybe 10% below ask.

Thanks all, going to offer tomorrow, mention the 1 bedroom and recent properties for sale being quite a bit lower

WHERE can you buy a 2 bed for 70k?!

Its in the North East

No harm in opening negotiations at £65

Are you a first time buyer with all the deposit mortgage offer etc ready to go? If so mention these as positives. Explain you are a keen buyer and willing to move when they’re ready.

@zippityzip

WHERE can you buy a 2 bed for 70k?!

I was just thinking that

Not first time buyer, will be a second home until I find work and transfer over, have a mortgage in principle in place, deposit is all ready. Main issue I feel is that I wouldn't be able to view straight away

I put the lower offer in, we shall wait and see

Good luck!

WHERE can you buy a 2 bed for 70k?!

Middlesbrough , can probably get something cheaper than than 70k.

Hi just a quick update. The cheeky offer was accepted which is great news, no negotiations, just accepted after a few days