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Original poster

what would be your first offer on a house listed for 279,950

24 replies

girlafraid · 01/12/2009 07:17

on a nice and very popular road but been on the market a few months, not sure if they've refused other offers

OP posts:
MillyMollyMoo · 01/12/2009 08:29

£249,999

Any higher and I'd want them to pay the stamp duty.

Hate that price bracket, it's so annoying.

noddyholder · 01/12/2009 08:30

250

MarthaFarquhar · 01/12/2009 08:33

first - 238. 15% off.
we recently achieved 13% off our house.

238 also leaves room for manouvre to go up, without crossing stamp duty threshold.

Original poster
girlafraid · 01/12/2009 08:36

thank you all

do you think if i offered under 250 but was prepared to go up it would be OK to just offer to pay for fixtures and fittings - to avoid stamp duty?

OP posts:
MarthaFarquhar · 01/12/2009 08:40

not a fan of this fixtures and fittings business. it is tax evasion unless you can demonstrate that you really have received fixtures and fittings to the value of what you have paid, and the IR do check.

Original poster
girlafraid · 01/12/2009 09:17

Thanks - made offer of 238K and they told me to SOD OFF in no uncertain terms! Just deciding what to do next, I hate doing this!!!

OP posts:
MarthaFarquhar · 01/12/2009 09:20

It was worth a shot

IMO if you're not ever so slightly embarrassed by your first offer, it's not low enough.

noddyholder · 01/12/2009 09:49

There isn't as much room for negotiation as there was.we bought last year 27% off!Houses going for asking here now.I think 250 is fair

MillyMollyMoo · 01/12/2009 10:11

I'd leave it a day or so and go back with £249k

pcworld · 01/12/2009 10:22

That is a serious amount off the asking price that you are offering. It depends on what the market is doing where you are. Where I am, the market has changed and even £10k off would be an unacceptable offer. Unless you think it is overpriced in the first instance?

DomesticBlobess · 01/12/2009 11:07

I am just buying a house in that price bracket - trust me at that asking price they are expecting to get 250k because of the stamp duty. Their agent will have told them that - if they want more than 250k it would have an asking price of 299k.

Unless the house has issues i doubt that they will go lower than 250k

thedollshouse · 01/12/2009 11:09

I think it depends on the area. In this area houses are once again going for the asking price and some are going for even more.

BulletProofMum · 01/12/2009 11:12

just wait it out for a week.

docket · 01/12/2009 11:13

There's no universal acceptable % off an asking price, it depends where you are. Generally, I don't think people are achieving massive amounts off where I am. They must know though, where they are wrt stamp duty so I would offer 250 on that basis.

Fizzylemonade · 01/12/2009 13:42

I'm another one who will say £250k, don't try to do the fixtures and fittings thing, it is tax avoidance and you have to prove what you bought at IRRC second hand value.

I think they would accept £250k otherwise they would have been priced nearer to £300k to get knocked down to £275k mark.

Are you in a good buying position? Rented/chain free/cash buyer etc?

nowwearefour · 02/12/2009 19:21

update please?!!!

crumpetsolo · 02/12/2009 19:28

I think houses are going for much nearer the asking price at the moment. Ours is on for £299k and someone made us an offer of £250k, and the estate agent told me about it but said he knew it was ridiculous. It does depend on the market in that area though.

Speckledeggy · 02/12/2009 22:12

£250k

Between £250k and £280k is a tough price to sell at. No one wants to pay the stamp duty so anyone making an offer will come in at under £250k.

If you love it and can go up a bit then swallow the duty and offer up to £265k. Should imagine you would get it for that price.

Original poster
girlafraid · 03/12/2009 09:15

Thank you for all the advice - after a day of haggling I think I have a better picture of the market - there aren't many houses on sale here at the moment so it's not as easy as you think

We got the house for 265 but the seller will pay 2% of the 3% stamp duty as an incentive to buy, apparently this is common with new builds (this is an old house though)

I'm not sure i entirely understand it, don't understand why they don't just sell it for less but it works for us and we love the house, just fingers crossed it all happens

OP posts:
MillyMollyMoo · 03/12/2009 11:08

They won't sell it for less because it sets a presedent for the next house that sells in the area.
House prices are entered on to the land registry and if you buy this one for say £5k less because of the stamp duty, then the next person to come along will look at that and offer maybe £6k less.
And we can't have house prices falling can we ?

Original poster
girlafraid · 03/12/2009 11:22

now it makes sense....

do you think it#s dodgy in any way?

OP posts:
MillyMollyMoo · 03/12/2009 11:39

No it's perfectly legal and legitimate.

Have you checked on www.nethouseprices.co.uk/com
just to make sure you're not paying too much ?

Original poster
girlafraid · 03/12/2009 11:43

Yeah, it does seem about right and there is so little on sale between 250 until you get to around 330 in this area it kind of makes sense to me... We don't want to spend less and get a much smaller house and have to move again in 3 years - spending this much now means we can quite likely stay until we retire, unless we move area

The solicitor seemed a bit concerned about it so will have to get him to talk to the estate agent

Thanks for all your help - much appreciated, I am such a novice!

OP posts:
MillyMollyMoo · 03/12/2009 11:50

It's exactly the same around here, I think we bought the biggest house under £250 for miles around, unfortunately it's a bubgalow and as the children get older and louder I want an upstairs to escape to but the roof is too low for a conversion

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