How much can i offer?

[INeedANewBuggy]

Hi all,
We have seen 2 appartments that we like. Both are in New Developments.

The first one is priced £225. The second one is £275.

What do you think it would be a reasonable offer (considering that they are new and we are chain free) ?

Depends where it is in the country and also how many others they have up for sale?

If the market is slow where you are and they have a few up for sale I'd go £20k under the asking price.

Ah sorry, i should say they are both in London.

Yes, they have more to sell.

I'd go at least £20k under, what's the worst that can happen they say no and you increase your offer! Good luck

I'd knock 20% off for starters

Tootlesmummy, thank you for your advice and your wishes .

EldonAve, thanks. I was thinking 20% too but i thought they will tell me to f... off and this is why i need other opinions.

Do you have at least a mortgage offer in place?

If so, I would go £195k on the first apartment. and 2nd one I would definitely offer under £250k to try and get it in under the stamp duty threshold. Go for £245k. In both cases stress what a good position you are in, how quickly you can complete, etc.

How long have the developments been there for? Have they already sold other properties on those sites? You can check Zoopla for previous sold prices.

Ah thank you so much about zoopla! Am going to check.

As for mortgage i was erm scared to write this, we don't need one we have the money ready.

Cash buyer = even better position!!!

Is the threshold for stamp duty still at £250,000 then?

From the direct.gov website:

£0 - £125,000 0%
£125,001 - £250,000 1%
£250,001 - £500,000 3%
£500,001 or more 4%

Thank you Rindercella