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rizzyk

What Price To Offer?

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Im looking at buying a house in Glasgow, its been on the market for more than 2years (i know this as i used property-bee) it was innitialy on for £155K, but was reduced to fixed £135k, but has been at that price for at least 18 months.

I also found out using Zoopla that the house previousley sold for £135k in 2006!!!

using zoopla and the info i know about the house by the listing details, its currently valued by zoopla at £125k - they r very confident in their rating, i know this does not replace a real surveyor, but it should be a guide i suppose.

What i wanted to know was, considering its been on for 2years, do u think the current owner, having paid £135k, will be willing to accept a lower offer and what price do u think i should offer when i get round to it.......... the house is in very good condition, its a newbuild - mayb about 7 years old.

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What i wanted to know was, considering its been on for 2years, do u think the current owner, having paid £135k, will be willing to accept a lower offer and what price do u think i should offer when i get round to it.

I have no idea what the owner might do - they have no God given right to expect to make a profit on an investment, but the debt situation might complicate matters for them. The good thing for you is they might be getting nice and desperate now after 2 years.

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Start very low - but be honest and let them know you are open to negotiate ?

Why not start at 100k ? Nothing to lose. And if you offer them the branch of negotiation - then you give them a bit of hope as well.

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They could be desperate, having waited two years, but it is at least as likely that they are in no rush to sell and, probably, have stopped thinking about it. The advantage of going low (e.g., 100,000) is that it might smack some sense into them. But the advantage of starting higher (e.g., 120, 125) is that it might set the hook -- they might start thinking 'f***, maybe we'll sell this place after all!'. Then they'll think of how much happier they'll be to be rid of the thing, start planning the next vacation or whatever, etc.

_Maybe_ you could do both by offering low but indicating you're willing to negotiate. The concern I have with this is that you and the seller are then in a tug of war that they don't want to lose. You'll pulling them down, they're pulling back up. This gives 'upwards momentum', so to speak. What they need to have is downwards momentum instead.

What about: don't put in an offer, but send a note to them privately saying that you're interested in the house, are they prepared to be flexible and come down on price? Say that you're a serious buyer and you recognize the quality of the property, etc., but think the market price of the house is somewhat lower. If they are interested in selling, what kind of room might there be to come down?

This (hopefully) will get them thinking that they have to lower the price for you, rather than that they have to keep pulling you up, if that makes any sense.

Just an idea.

EC.

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Does having a railway line running behind the house make a difference to the price? sorry for the silly questions but its just that im a first time buyer so have no experience of these things. its not rite u against the property, u cant the trains going by, but i suppose it must make some difference?

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Your post didn't come through properly (words are missing), so it's not clear whether you intended to say that you can't _hear_ the trains.

In general, proximity to a rail _station_ is a plus, but proximity to rail lines, especially if one can hear them, is a minus. Note, however, that if your house backs onto a rail line that it probably has open views, and that is a big plus. For instance, I would rather look out onto a rail line then into another building of flats. The rail line in the backyards means that the nearest building is some distance away, giving you more light, a greater sense of openness, etc.

By the way, you get used to the train, so I wouldn't worry that much about buying there. Might be worth getting a sense of how busy that particular line is, however.

EC.

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It's a local line, yea sorry some of the words were missing or misspelt in the original post, my keyboard was acting up funny.

Thnx for the brilliant advice and wise words guys, house hunting is so much more easier when people like yourself are so helpful.

There's a train station about 3 min walk so that's good, also there is open views to the rear so another plus point, there are no houses on other side of train line so I suppose that's good too.

I'm gonna view the property again just to double check everything and get a proper feel of the area soon, hopefully next week.

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  • 309 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% +
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      • Even
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      • up 5%



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