How much to offer?

7 replies

AllyAlly · 25/02/2009 20:52

A house we like has been on the market since July 2008 at £500k. It sold within a few weeks for near the asking price (apparently) but the sale fell through b/c the chain broke.

I have checked on houseprice.co & seen that similar properties sold:
May 2007 £500k
Dec 2006 £500k
Oct 2006 £512k

What would you say is a realisitic price for the house in the current market? Also, what starting point would you offer at? I'm surprised they haven't reduced the price whatsoever!

Thanks

OP posts:

Ivykaty44 · 25/02/2009 20:57

-20% as a starting offer, house prices have fallen around that much take a look on here

propertysnake.co.uk/

The more expensive houses dont want to reduce there price though as it is a lot when your house was worth 500k and has lost 20% on the price....

Sorrento · 25/02/2009 22:08

Ok lets get this straight, it wasn't sold, it's only sold when the solicitors tell the agents the cash has exchanged hands so don't fall for that old rubbish.
And any agent who trots that line out, gets "well it didn't sell otherwise we wouldn't be here now would we"
So you're looking at 2004 prices for your first offer, maybe £400 ish

brettgirl2 · 26/02/2009 14:27

lol, I wonder if the chain broke because the BS valuation was much lower! House prices are much lower than 2007.

Fimbo · 26/02/2009 14:30

I would start at £385, you can always offer more if you feel inclined and the worst that can happen is they say no.

MollieO · 04/03/2009 14:30

Ivykaty44 what an amazing website! Makes for very interesting reading. Not much change where I live other than a couple of ones on the market over a year and dropped 25%.

offwetrot · 04/03/2009 14:37

425 offer, close at 430.
Assuming this is a house with nothing really to compromise about and you really love it.

noddyholder · 04/03/2009 17:55

depends how much you want it.i have been house hunting with my parents this week and was shocked to see prices here have stabilised and lots selling!The agent had a brief look at the house I live in and said as the last sold for 345 he thought I wouldn't get more than 300 BUT I paid 220 cash in September!(have renovated a lot but still expected to lose tbh) The agents phone was ringing off the hook and we viewed 11 and 3 of those had offers by the end of the day!Not sure what is going on

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