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Original poster

Is there any point in viewing this house?

16 replies

Sunshineandflowersss · 07/10/2023 22:40

I'm a ftb and like other buyers I am struggling to find anything that I like that ticks all the boxes and is within budget, apart from 1 house that came on the market a week ago.

Asking price £160,000
My budget is £140,000 (£145,000 at a push)

I don't know if it would even be worth ringing the agent or requesting a viewing. Obviously I don't know the vendors position but I'd be surprised if they'd accept such a drop in price when it's only been on the market a week.

Thoughts?

OP posts:
aharddaysnight · 07/10/2023 22:46

Well, I'm also a first time buyer (just waiting on the completion date) and my new house was also up for £160,000 and I got it for £142,500. It's worth a shot anyway. Mine had been on the market for about 3 weeks I think.

If it doesn't sell quickly (which most properties near me don't seem to be) then it's likely that they may accept a lower price in a month or two, or it'll get reduced.

Nellle · 07/10/2023 22:48

Depends on your area, but probably yes, go view.

Prices haven't dropped as much as they need to with the current interest rate crisis, so even in nice areas house are sitting on the market far longer and subsequent asking price reductions are common.

You're chain-free, so a lower offer could still be attractive.

Squishedstormtrooper · 07/10/2023 22:49

I would with the market the way it is and you don’t know their situation- You come chain free and they might want a quick sale.

iovebread · 07/10/2023 22:51

view it if you like the photos. see it. judge its worth in today's market where it's a buyer's market. then make an offer - what you think it's worth, not necessarily what the sellers want. the worst that could happen is they say no.

Also, I'd be inclined to offer even less than that 140k. Especially if there is no one else making an offer.

Original poster
Sunshineandflowersss · 07/10/2023 23:00

Thank you for your messages. It's really helpful to hear other peoples thoughts and experiences.

The house is in quite a popular area and it is currently the only starter home in that location so I'd be surprised if there wasn't a lot of interest tbh. I guess that's why I'm wondering if it's even worth my time. I wouldn't say it's overpriced as there were 2 properties on the same street that sold around a month ago, both were marketed at £165,000, one sold just after a month and the other sold after 5 months.

OP posts:
mjf981 · 08/10/2023 06:12

I’d go and view to see if you like it. Given your update, I doubt you’d be able to secure it in your budget, but you never know!

2764mice · 08/10/2023 06:44

Go and view it. Do as many viewings as possible and you will have a much better idea of how much properties are worth to you and how much they're going for in this market. It's impossible to do this while sat at home on Rightmove. Could anyone gift/loan you an extra 5k so you can make a stretch offer?

ohfook · 08/10/2023 07:35

A house I liked was on for £226k but quickly dropped to £215k - still wildly out of budget for me so I kept it saved on my Rightmove but didn't pursue it. It eventually sold for £182k - it was a lovely house too 4 bedrooms, a gorgeous garden, a lounge and a snug in a lovely area. It's always worth putting in an offer I think.

Twiglets1 · 08/10/2023 07:44

I would definitely view it. Will be interesting for market research if nothing else as you can track what it eventually sells for and how long it takes.

If you really like it I would offer what you can afford and hope for the best. You’re in a strong position as a FTB so you never know!

IdealisticCynic · 08/10/2023 11:58

Definitely go and see it. First, you might find that you don’t actually want it, which will resolve the issue.

If you do like it, there’s no harm in making an offer. While most people want to make as much from their house as possible, there are also sellers who need to move fast and having a buyer who is chain free might be even more attractive than getting an extra 10k or whatever they might be offered. And you can leave your offer on the table even if they initially refuse. I once had an estate agent come back to me a few months later asking if I was still interested at the below asking price offer I had made because the seller had had a higher offer fall through.

Good luck, OP!

Mosaic123 · 08/10/2023 12:20

What have you got to lose apart from half an hour of your time?
You have nothing to sell which is a big plus.

If you saw it and your offer was rejected then you might get it if their original buyer pulled out.

Anything can happen in our crazy home buying !

BlueMongoose · 08/10/2023 15:08

I think I'd be honest with the house agent and put the case before them. They'll have an idea whether the vendors may be flexible enough.

RudsyFarmer · 08/10/2023 15:11

We got 30k off the asking price 10 years ago. So I would definitely try my luck with no chain.

Calmdown14 · 08/10/2023 19:21

I wouldn't book the viewing yet. There's nothing like zero interest in the first few weeks to lower your expectations as a seller.

I'd wait a fortnight before making an appointment.

Realistically if there's lots of interest you are unlikely to get it and will just raise your expectations so I don't think you have much to lose by hanging fire.

CrashyTime · 08/10/2023 21:30

ohfook · 08/10/2023 07:35

A house I liked was on for £226k but quickly dropped to £215k - still wildly out of budget for me so I kept it saved on my Rightmove but didn't pursue it. It eventually sold for £182k - it was a lovely house too 4 bedrooms, a gorgeous garden, a lounge and a snug in a lovely area. It's always worth putting in an offer I think.

Do you know how much they bought it for?

MrsHGWells · 08/10/2023 21:47

Go view, use the experience to look in side the house/ layout / sunlight/ storage. Every house you view you learn more about what you want -

if you have approval in principal and not in a chain.. more appealing.. price becomes negotiable..

use a few websites to search previous owners purchase price .. there may be wriggle room .. no harm in looking.

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