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thesmiths

What Do You Think We Should Offer?

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We are looking at a 2 bed ground floor flat for investment purposes. Initially in January it was up for £90k but over the last few months it has now come down to £80k. There have been no offers on it and it is vacant possession. When I looked up on nethouseprices what it was sold previously they bought it for £60k in July 2004. I put in these figures into the nationwide/hpi calculator (it is in Wales) and it says it should be worth around £64/65k now. Doing the reverse, if it is worth 80k now then it should have been sold for around £73k. It is ex-local authority and so I am wondering if the seller bought it at a reduced rate under the right to buy scheme, which is why the figures are a bit off.

OR, are they just asking too much? Would you offer a figure based on what they bought it for? Similar sized flats are between £65k to £75k.

I am tempted to offer around £65k, but thought this might be too much of a drop on an 80k asking price.

Any advice gratefully received.

Thanks!

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We are looking at a 2 bed ground floor flat for investment purposes. Initially in January it was up for £90k but over the last few months it has now come down to £80k. There have been no offers on it and it is vacant possession. When I looked up on nethouseprices what it was sold previously they bought it for £60k in July 2004. I put in these figures into the nationwide/hpi calculator (it is in Wales) and it says it should be worth around £64/65k now. Doing the reverse, if it is worth 80k now then it should have been sold for around £73k. It is ex-local authority and so I am wondering if the seller bought it at a reduced rate under the right to buy scheme, which is why the figures are a bit off.

OR, are they just asking too much? Would you offer a figure based on what they bought it for? Similar sized flats are between £65k to £75k.

I am tempted to offer around £65k, but thought this might be too much of a drop on an 80k asking price.

Any advice gratefully received.

Thanks!

Do you think now is a good time to buy property as an investment?

Do you know the nature of this website?

Ok,

I'd pay max 2004 price but i'd go in lower £50K offer to start.

Its your money or maybe not.

Spiney

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We are looking at a 2 bed ground floor flat for investment purposes. Initially in January it was up for £90k but over the last few months it has now come down to £80k. There have been no offers on it and it is vacant possession. When I looked up on nethouseprices what it was sold previously they bought it for £60k in July 2004. I put in these figures into the nationwide/hpi calculator (it is in Wales) and it says it should be worth around £64/65k now. Doing the reverse, if it is worth 80k now then it should have been sold for around £73k. It is ex-local authority and so I am wondering if the seller bought it at a reduced rate under the right to buy scheme, which is why the figures are a bit off.

OR, are they just asking too much? Would you offer a figure based on what they bought it for? Similar sized flats are between £65k to £75k.

I am tempted to offer around £65k, but thought this might be too much of a drop on an 80k asking price.

Any advice gratefully received.

Thanks!

I have the same dilema.

I'm looking at property in the 200K range that I think (on the same basis as you) should be max 175. Soundings from the EA suggest that an offer of 175 will not be entertained.

So I walk away.

I've actually been looking since last September and so far only three properties that I have looked at have turned up on the Land Registry data, all at 8-10% below asking.

ISTM that only a very few houses are selling at these inflated prices and eventually they will fall back into line.

tim

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What Do You Think We Should Offer?

Nothing, not a bean..

Have you done any research into the state of the market that you are about to invest £60,000 + in?

Would you buy £60,000 of shares?

Edited by Pent Up

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  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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