Hi all! Just need some advice on what to do please.
We desperately need to move to a bigger house (we've not let it be known to estate agents that we are desperate, just that we need a bigger property).
We have seen a house that we both like. 3 bed, 1 bath, converted garage, big enough garden and off road parking. Near to lots of schools/ shops/ easy commuting. In an area that would be ideal for us.
The house has gone through probate. It's been on the market for about 8 months and only had 1 offer. The price has recently been reduced by £15,000.
Negative points:
- it's excessively dated and needs modernised (kitchen and bathroom need full replacement, all carpets need ripping out, full redecoration needed)
- ex smokers property. The smell was very strong
- some houses on the same street are a little run down
- new boiler system required (currently has back boiler and immersion tank)
Estate agent said the vendors are keen to sell.
Property is listed for offers over £200,000.
Another property, same layout but garage hadn't been converted, sold in June last year for £202,000 on the same street. Properties currently on the market on that street are listed for £230,000 but require no work.
I'm of the mindset 'you don't ask, you don't get' and want to offer less than asking price, taking in to consideration all the work that's needed (as well as work needed that may not be immediately obvious). I was thinking of offering about £185,000 originally. My partner thinks we would be better offering £192,000. I'm not a seasoned buyer (current house is my first) but partner has bought a few houses previously. My current property I bought for just under 10% of asking price (after it had been reduced) and that was my first and final offer.
What do you all think we should offer based on what I have written?