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charikaar

Making An Offer

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Hi,

I am looking at this 3 bedroom property in Birmingham

228 Cotterills Lane,Ward End,BIRMINGHAM

I am a first time cash buyer and would like your advice on how to proceed and how much should i offer?

Thanks

Edited by charikaar

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Hi,

I am looking at this 3 bedroom property in Birmingham

228 Cotterills Lane,Ward End,BIRMINGHAM

I am a first time cash buyer and would like your advice on how to proceed and how much should i offer?

Thanks

look at the land registry to see what they sell for, factor in how much they've fallen since the last sale, then knock 10% of that figure so they can feel they've argued you up. If you're not embarrassed by your first offer, it was too high.

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look at the land registry to see what they sell for, factor in how much they've fallen since the last sale, then knock 10% of that figure so they can feel they've argued you up. If you're not embarrassed by your first offer, it was too high.

Thank you very much for the above information. How do i find out price paid for the property previsouly because Land registery doens't seem to have price for it.

Address: 228

Cotterills Lane

Birmingham

B8 2PE

Tenure: Freehold

Price Paid/Value Stated Data:

Sorry, there is no price paid/value stated information available for this property.

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If there's nothing on any of the websites that show the LR data, then it either (.a.) hasn't sold in the last 10 years or (.b.) did sell but was sold at auction, as a repossession or to a company. I think.

Looking at the property in question, I'd guess it hasn't been sold in the last 10 years. But if you use Firefox to view Rightmove and install an add-on called Property Bee, you are able to garner the following info:

29 April 2010

* Initially added to site

13 June 2010

* Price changed: from '£109,950' to '£104,950'

14 February 2011

* Price changed: from '£104,950' to '£99,950'

So it's been on the market for about 10 months, they've dropped the price twice in that period, slightly less than 10% down from its originally marketed price. Not sure about the agent's claim about "off road parking space to the front". From Google street view, looks to me like you'd have to drive over some of the grass area in front of the group of houses.

If you want some comparable info, use the price comparison section of Rightmove. You'll see that a house that sold in February 2008 for £135k (192 Cotterills Lane) was recently being marketed for £111k. The agent that is marketing the property you're interested in appears to have sold 192 in 2008. Might be worth asking them if they still have the brochure so you can compare that and the state it was in then with the brochure that Arden Estate Agents should have done when that was on the market and whether it has sold or was just removed. Either way, that looks considerably more than other properties were selling for in B8 2PE.

Any idea what the vendor's situation is? Are they going into rented or once they get an offer they consider acceptable, are they then going to fanny around starting to look for somewhere to buy themselves?

The market's on its **** in Brum, I'd start as low and offensive as you feel comfortable and then work up from there. There's definitely cheaper 3 beds in B8, but maybe further into Alum Rock itself than you possibly want to be.

Edited by Guy M

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Thank you very much for the above information. How do i find out price paid for the property previsouly because Land registery doens't seem to have price for it.

Address: 228

Cotterills Lane

Birmingham

B8 2PE

Tenure: Freehold

Price Paid/Value Stated Data:

Sorry, there is no price paid/value stated information available for this property.

you try other properties in the same post code!

There were three that sold in 2007 for just over 100K.

On that basis House Price Calculator says that it's still 10K too much, even after two reductions.

(OTOH it is the cheapest three bed for sale in the area)

tim

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If there's nothing on any of the websites that show the LR data, then it either (.a.) hasn't sold in the last 10 years or (.b.) did sell but was sold at auction, as a repossession or to a company. I think.

Looking at the property in question, I'd guess it hasn't been sold in the last 10 years. But if you use Firefox to view Rightmove and install an add-on called Property Bee, you are able to garner the following info:

29 April 2010

* Initially added to site

13 June 2010

* Price changed: from '£109,950' to '£104,950'

14 February 2011

* Price changed: from '£104,950' to '£99,950'

So it's been on the market for about 10 months, they've dropped the price twice in that period, slightly less than 10% down from its originally marketed price. Not sure about the agent's claim about "off road parking space to the front". From Google street view, looks to me like you'd have to drive over some of the grass area in front of the group of houses.

If you want some comparable info, use the price comparison section of Rightmove. You'll see that a house that sold in February 2008 for £135k (192 Cotterills Lane) was recently being marketed for £111k. The agent that is marketing the property you're interested in appears to have sold 192 in 2008. Might be worth asking them if they still have the brochure so you can compare that and the state it was in then with the brochure that Arden Estate Agents should have done when that was on the market and whether it has sold or was just removed. Either way, that looks considerably more than other properties were selling for in B8 2PE.

Any idea what the vendor's situation is? Are they going into rented or once they get an offer they consider acceptable, are they then going to fanny around starting to look for somewhere to buy themselves?

The market's on its **** in Brum, I'd start as low and offensive as you feel comfortable and then work up from there. There's definitely cheaper 3 beds in B8, but maybe further into Alum Rock itself than you possibly want to be.

Super stuff. much appreciated. Thank you everyone.

I still can't locate the house on the google street map!! We are not in a rush so any reasoable good condition 3 bedroom house in B8-B14 for around £100k would suite our needs.

Edited by charikaar

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Super stuff. much appreciated. Thank you everyone.

I still can't locate the house on the google street map!! We are not in a rush so any reasoable good condition 3 bedroom house in B8-B14 for around £100k would suite our needs.

Hi,

Zoopla estimated the price to be £92k at the current market and according to zoopla it was sold for Last sale: £39,950 Sale date: 24th Nov 1995. Are zoopla estimates reasonable?

We are thinking of offering 85k and this will be the first and last offer!

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Super stuff. much appreciated. Thank you everyone.

I still can't locate the house on the google street map!! We are not in a rush so any reasoable good condition 3 bedroom house in B8-B14 for around £100k would suite our needs.

I think it's sat further back than you might expect. I think it's in the house to the right of the one that has access / a driveway cutting through the grass section. Best thing to do is scroll left and right from the postcode's centre until you see a house with a clear number on it (or a bin!) and then work back from there.

From what you've just said tho, I'm assuming you haven't actually been to see it yet? Go do that first as might be in a worse condition than photos suggest.

Oh and unless my Brum geogrpahy has gone to pot, B8 and B14 aren't neighbouring areas. Any reason you're looking at those two areas but not others?

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I think it's sat further back than you might expect. I think it's in the house to the right of the one that has access / a driveway cutting through the grass section. Best thing to do is scroll left and right from the postcode's centre until you see a house with a clear number on it (or a bin!) and then work back from there.

From what you've just said tho, I'm assuming you haven't actually been to see it yet? Go do that first as might be in a worse condition than photos suggest.

Oh and unless my Brum geogrpahy has gone to pot, B8 and B14 aren't neighbouring areas. Any reason you're looking at those two areas but not others?

Thank you.

I meant from B8 to B14 so this also includes b9.....b13. We curently live in London but we have relatives in Birmingham and will be moving there in the next 2 years or so. I am not looking for something very close to them so anything good/bargain priced property in whole of Birmingham would do.

Do you have any idea if the grass infront of all those house will affect the price of the property?

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I meant from B8 to B14 so this also includes b9.....b13. We curently live in London but we have relatives in Birmingham and will be moving there in the next 2 years or so. I am not looking for something very close to them so anything good/bargain priced property in whole of Birmingham would do.

Do you have any idea if the grass infront of all those house will affect the price of the property?

Not directly, but it just seems to make a bit of a mockery of the EA's claims of 'driveway parking'.

I'd make a concerted effort to spend some time in Brum before you move to get an idea of the area you're most likely to want to end up in. Of the postcodes you mention, I'd be inclined to head for the B12 to B14 end of the spectrum, although that includes Moseley which is an expensive area. Kings Heath which is near there is a bit cheaper.

Go and frequent the West Mids sub-forum and see what those people say.

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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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