what offer would you go in at

[m3sye]

Me and my girlfriend are looking at our 1st house together
http://www.rightmove.co.uk/property-for-sale/new-h...
And currently they have reduced it from 177,950 to 164,995 and are also offering to pay 5% of your deposit (8,250) bringing it down to 156,745!
Do you think we would be able to get more off? and if so what would your offer be?

[Simpo Two]

£150K in a suitcase.

[B17NNS]

So it's actually currently being marketed at £156,745 - that is the asking price.

If I was looking at a house being marketed for £157k I'd open the bidding at circa £130,000.

Only you know if the house is cheap or priced right. What have others in the street sold for recently in similar condition?

Your position as a first time buyer makes you an attractive prospect. No chain presumably with finance in place.

What do you think will happen to prices in the near or not to distant future?

If it were my money I'd stick myself in rented for six months and reassess the situation. I wouldn't buy until I'd seen a few months of stagnation followed by some positive news and a little bit of growth.

Good luck!

[ALawson]

If you aren't embarrassed with you offer its not low enough.

How much do you want it?

I would go in with £135k

[miniman]

My recent deal: original asking price £395k - we paid £299k having previously had a £325k offer rejected.

As above, bid them so low that you wince as you say it. Sit tight. They want to sell stuff.

[bazking69]

I live in the wrong part of the country (not that I'd give it up to move Norf...)
That would be £250k down my way even at the moment...

[m3sye]

miniman said:

My recent deal: original asking price £395k - we paid £299k having previously had a £325k offer rejected.

As above, bid them so low that you wince as you say it. Sit tight. They want to sell stuff.

I was thinking 135k the development is quite a funny one really right opposite and i mean 80 feet there is a miller home development too. We have also seen one on there we quite like but not as much as the persimmon one (not that I would tell them that) so I was thinking of basically saying whoever can give me the best deal can have my business and get them playing off one another. Good idea or not?
Also if I went in at 130-135k would you expect to get things thrown in such as carpet etc?

[Dave_ST220]

bazking69 said:

I live in the wrong part of the country (not that I'd give it up to move Norf...)
That would be £250k down my way even at the moment...

You certainly are, £250k just got me large 5 bed detached with detached double garage in a rural location next to a world heritage site! Re: The OP-is this a new build? You need to check out sold prices on the development. There is no rule to this-if they are selling well they won't accept a piss take offer.

[m3sye]

Dave_ST220 said:

bazking69 said:

I live in the wrong part of the country (not that I'd give it up to move Norf...)
That would be £250k down my way even at the moment...

You certainly are, £250k just got me large 5 bed detached with detached double garage in a rural location next to a world heritage site! Re: The OP-is this a new build? You need to check out sold prices on the development. There is no rule to this-if they are selling well they won't accept a piss take offer.

Houseprices.co.uk best for that? I find its not updated that quickly is there a better one?

[Dave_ST220]

Not sure tbh, i was lucky in so much the developement had been going on for 2 yaers so all prices were there. If this is new build i'd go in low, very low.(£130K).

[m3sye]

Dave_ST220 said:

Not sure tbh, i was lucky in so much the developement had been going on for 2 yaers so all prices were there. If this is new build i'd go in low, very low.(£130K).

And still insist on a 5% deposit paid ?(as that is the killer for us)

[Dave_ST220]

Only you know how much you want this house & what you can afford. IMO they are unlikely to accept a low offer and pay a deposit-you can't have the penny & the bun!

[2something]

Impossible to say, you need to do your research.

We bid very close to the asking price on one property we were looking at in Feb and 3 others offered more within a week - it went for more than the asking price.

We bid 15% below asking price for a property less than a mile away from the first one a week later, they rejected it but no on else made another offer.

That is how useful asking prices and 'oh you need to make an offer x% lower' is. You need to do your research, to get a good idea of what you should offer.

[princeperch]

Fvck me it must be grim up noorf. That house would be somewhere around 300-400k in a decent town in the south where you can commute to London.

[Chrisgr31]

Never ever set your heart on having a particular house. You want to make a low offer and then if not accepted walk away. They can always come back to you.

Incidentially they are not paying your 5% deposit! All they are doing is reducing the price by 5%, and does that deposit offer come with preconditions on finance etc?

If you think it t is worth £135,000 and you want your deposit paid you offer £142,000 subject to them paying the deposit of 5%. However don't forget the mortgage will be dependent on what the valuer says it is worth. The valuer might say its worth only £135,000 as thats what you are paying. Mortgage company will still then want a deposit from you!

[Dave_ST220]

Chrisgr31 said:

Never ever set your heart on having a particular house.

Depends on whether you want a home to spend many years or simply a house Trust me hosues that tick all your boxes are not 10 a penny as some would have you think. (a bit like finding your ideal used car!).

[m3sye]

princeperch said:

Fvck me it must be grim up noorf. That house would be somewhere around 300-400k in a decent town in the south where you can commute to London.

Its actually quite nice, although alot of Southerners do think everything outside the South is grim. I suppose if you class high polution, stupidly high property prices, high crime and no views as nice then your in the right place ;-)

[m3sye]

Chrisgr31 said:

Never ever set your heart on having a particular house. You want to make a low offer and then if not accepted walk away. They can always come back to you.

Incidentially they are not paying your 5% deposit! All they are doing is reducing the price by 5%, and does that deposit offer come with preconditions on finance etc?

If you think it t is worth £135,000 and you want your deposit paid you offer £142,000 subject to them paying the deposit of 5%. However don't forget the mortgage will be dependent on what the valuer says it is worth. The valuer might say its worth only £135,000 as thats what you are paying. Mortgage company will still then want a deposit from you!

The offer of the 5% deposit is not listed on any site its a 2 week offer they are doing. They actually pay 5% of your deposit not reduce the house by 5%

[JustinP1]

m3sye said:

princeperch said:

Fvck me it must be grim up noorf. That house would be somewhere around 300-400k in a decent town in the south where you can commute to London.

Its actually quite nice, although alot of Southerners do think everything outside the South is grim. I suppose if you class high polution, stupidly high property prices, high crime and no views as nice then your in the right place ;-)

Thats exactly the thing.

You get a lot of value as that particular area isn't in throwing distance of a big city. If that isn't a major issue for you then you are quids in.

My outlaws bought a property in Shropshire a couple of years back in an acre of land a couple of years back. I have a decent sized house and this is twice the size. They got it for £400k. You couldn't pick a spot anywhere in the home counties where that would be in six figures.

[m3sye]

Exactly, Im 5 mins from our local city (Lancaster), 50 mins from Manchester, 55 from Liverpool, 30 Mins to the Lakes much prefer it that way. Major cities are just too busy for me and I like getting to know people