We've finally got the cogs turning in buying a house but I'm feeling confused by how much to offer on houses in our area.
There's an aged population in our town, so the majority of houses that go on the market are due to the owner dying and they're in dire need of renovation. I've been watching the market for a few years and the kind of houses we like are marketed at £180,000-ish but eventually sell for £140,000-ish (we live in the North).
I've seen a 3 bed semi for £185,000. RM suggests that every house on the street sold for about £145,000 apart from a 4 bed detached which recently sold £2,000 above the asking price at £192,000. Some are in better condition than the one we're looking at as it needs a new bathroom and a stairlift removing.
Would I be laughed at if I went in with an offer under the £150,000 mark straight away? Our Mortgage Advisor has told us that houses aren't selling for a penny under the asking price at the moment but Rightmove seems to disagree. I don't understand this offer thing!