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jonboy2010

Putting A Offer In

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Hi i am looking for bit of advice viewed a place the other day its on the market for 340000 to 375000 but it has been up for sale with this agent since april and was up for sale last year as well needs a bit of work as well was thinking of putting a offer in for £280000 is it a bit low any advice would be welcome.

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Hi i am looking for bit of advice viewed a place the other day its on the market for 340000 to 375000 but it has been up for sale with this agent since april and was up for sale last year as well needs a bit of work as well was thinking of putting a offer in for £280000 is it a bit low any advice would be welcome.

If not I would install property-bee plugin to Firefox. Review the house on rightmove and see its price change history. Then you can look up the last sold price on land registry, houseprice.co.uk etc.

You can then work out what you want to offer from there.. try looking for other sales in the street too.

Me personally will be going for 20%+ reductions off price if the above will allow me, until then I wont be viewing :)

Good luck.

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Hi i am looking for bit of advice viewed a place the other day its on the market for 340000 to 375000 but it has been up for sale with this agent since april and was up for sale last year as well needs a bit of work as well was thinking of putting a offer in for £280000 is it a bit low any advice would be welcome.

You can always raise your offer, so go in low. Average offer prices are 15% below the asking price, so £280k is about right on that basis. Alternatively, if you think house prices are going to drop 20%+ then why not go in even lower, they can only say no.

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If not I would install property-bee plugin to Firefox. Review the house on rightmove and see its price change history. Then you can look up the last sold price on land registry, houseprice.co.uk etc.

You can then work out what you want to offer from there.. try looking for other sales in the street too.

Me personally will be going for 20%+ reductions off price if the above will allow me, until then I wont be viewing :)

Good luck.

had a look on sold prices was sold in 2003 for £183000 so nearly a 200000 profit in 7 years seems a bit much

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You can always raise your offer, so go in low. Average offer prices are 15% below the asking price, so £280k is about right on that basis. Alternatively, if you think house prices are going to drop 20%+ then why not go in even lower, they can only say no.

think i will put the offer in tomorrow as you say they can only say no, and its not as if they will be going up any time soon also forgot to mention its a timber frame property so not everyones cup of tea.

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think i will put the offer in tomorrow as you say they can only say no, and its not as if they will be going up any time soon also forgot to mention its a timber frame property so not everyones cup of tea.

Are you sure it's mortgagable? Being of non standard construction?

I personally would not buy now that price are falling but wait it out. But if you are desperate for this house now I would offer at the very least 20% below asking. Then maybe increase by a small amount if rejected. If still rejected I would wait a few months before reiterating the original (or even a lower) offer.

Good luck.

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Where is it?

My wife was speaking to an EA yesterday (social gathering) who said prices are falling and most houses being sold for 5 - 10% below asking with a few reaching 20%. The EA covers the literary part of Berkshire.

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Are you sure it's mortgagable? Being of non standard construction?

I personally would not buy now that price are falling but wait it out. But if you are desperate for this house now I would offer at the very least 20% below asking. Then maybe increase by a small amount if rejected. If still rejected I would wait a few months before reiterating the original (or even a lower) offer.

Good luck.

spoke to the mortgage company and they will mortgage it as its a "colt" bungalow, we are renting at the moment so not in a great rush but it could be a great house with a bit of attention but if they say no will play the waiting game.

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Where is it?

My wife was speaking to an EA yesterday (social gathering) who said prices are falling and most houses being sold for 5 - 10% below asking with a few reaching 20%. The EA covers the literary part of Berkshire.

kent 15 mins from the coast

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kent 15 mins from the coast

Kent is a big county with a large coastline!

Anyway, what are properties doing round there, are they getting asking price - I think with what's been said perhaps your 280 / 285 figure may be too high in starting?

There's an old saying, "If you're not offended by your first offer then don't make it!"

With a really low offer you might get more information back from the EA - why, really, do they want to sell? What, really, will they accept?

Unfortunately some people will only ever accept the asking price or above it ...

Good Luck!

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Kent is a big county with a large coastline!

Anyway, what are properties doing round there, are they getting asking price - I think with what's been said perhaps your 280 / 285 figure may be too high in starting?

There's an old saying, "If you're not offended by your first offer then don't make it!"

With a really low offer you might get more information back from the EA - why, really, do they want to sell? What, really, will they accept?

Unfortunately some people will only ever accept the asking price or above it ...

Good Luck!

I shall certainly remember that..... nice one.

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I shall certainly remember that..... nice one.

the way i am looking at it is if the house was priced right it would have sold by now so i am only offering the price it should be :)

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after reading some replies i might go in at 250000 :D

mmm

250 might be the right price, but by going in low, early, you may run the risk of pissing off the vendor (who may still be in la-la land) and making sure any future offers are not taken seriously. I'd wait until TEH FEAR has set in, at least until into the autumn.

If it sells before that then it's going to have gone for more than your 250 anyway.

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mmm

250 might be the right price, but by going in low, early, you may run the risk of pissing off the vendor (who may still be in la-la land) and making sure any future offers are not taken seriously. I'd wait until TEH FEAR has set in, at least until into the autumn.

If it sells before that then it's going to have gone for more than your 250 anyway.

You could be right!

Anyway, to the OP try a calculator to help justify your offer Zoopla I believe has one or try the Nationwide - http://www.nationwide.co.uk/mortgages/calculators/housepriceworth.htm

Perhaps then the current occupiers could explain why they want > £320 k for their place?

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You could be right!

Anyway, to the OP try a calculator to help justify your offer Zoopla I believe has one or try the Nationwide - http://www.nationwide.co.uk/mortgages/calculators/housepriceworth.htm

Perhaps then the current occupiers could explain why they want > £320 k for their place?

good question, i got the impresion from the vendor that he might need the money and was chain free as was going into rented

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My Mrs and I have been offering 2004 prices on the properties we are after. We have been doing this since start of the year. Initially we were getting told to pi$$ off!! We now have estate agents and vendors looking to enter discussions.

To give you an idea of figures a decent two bed semi was £70k-£75k in 2004 and £110k at peak. They are currently on for between £88k and £92k. (four in the estate we like at those sort of prices). I have made my final offers and walked away- much to the annoyance of my Mrs especially as we have about £45k between us in savings.

Not sure what I will do next. :(

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Unless you think prices will in Daily Exess parlance SOAR you need do nothing more that wait, MSM have changed their sentiment and the final offers you have made will be being discussed esp if there are similar houses on the same estate. If they were all selling after being in the market for a month then that is different, but how many of them are selling, if they are not selling they are over priced.

Of the 50 or so houses in the estate, only one has changed hands in 2010. That was an extended 3 bedroom property. It went for £116k. It is hard to say what it would have sold for at peak. However, 2 bed on the estate were £110k at peak. The plots are all decent size and we would like to add a dining room and third bedroom in time. I am now worried that with my £45k deposit I will be under the banks threshold for a mortgage. (we are saving £1k a month at the moment)

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  • 149 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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