Made Offer On A House
Discussion
Okies, here is the situation..
House in question has been up for sale since last September, not sure though if there was already a price drop. I spotted it about 1 month ago, 'offers in the region of' 146k. It is a 3 bedroom semi in a good area, although the house is in need of cosmetic upgrading. From what the estate agent said, it has been empty since September when the old lady passed on, and house is being sold by her son.
Called today and offered 136k, so 10k off what they are looking for, got a call back asking if I would meet in the middle at 140k. Told them I'd have a think about it over the weekend. I'm a FTB in no rush, so was wondering what the next move should be in the offering stakes?
I was thinking of saying 137.5k as next offer, that sound reasonable? Or should I just up my first offer by say, 1k? Kinda new to this offering malarky as you can tell!
House in question has been up for sale since last September, not sure though if there was already a price drop. I spotted it about 1 month ago, 'offers in the region of' 146k. It is a 3 bedroom semi in a good area, although the house is in need of cosmetic upgrading. From what the estate agent said, it has been empty since September when the old lady passed on, and house is being sold by her son.
Called today and offered 136k, so 10k off what they are looking for, got a call back asking if I would meet in the middle at 140k. Told them I'd have a think about it over the weekend. I'm a FTB in no rush, so was wondering what the next move should be in the offering stakes?
I was thinking of saying 137.5k as next offer, that sound reasonable? Or should I just up my first offer by say, 1k? Kinda new to this offering malarky as you can tell!
Last one of similar that was sold on that street was £168,000 and that was in Jan 2007. There is another for sale right now on the opposite corner from this one that has a fixed price of £175k, only difference being they have patio doors going into the back garden instead of a window, and it is also dosent need decorated ect...
I do really like the place, and it's somewhere that I could see myself staying for a good few years. Still a bit nervous though due to the current climate and just how much further the prices are going to fall..
Thanks again for the replies.
I do really like the place, and it's somewhere that I could see myself staying for a good few years. Still a bit nervous though due to the current climate and just how much further the prices are going to fall..
Thanks again for the replies.
Depending on the area you can work out the average drop from here..
http://www.nationwide.co.uk/hpi/historical/Q1_2009...
Of course the type of property may make the realistic price vary.
ETA that is of course Dec 07 to Dec 08 so you might want to add another 5 to 10 %
http://www.nationwide.co.uk/hpi/historical/Q1_2009...
Of course the type of property may make the realistic price vary.
ETA that is of course Dec 07 to Dec 08 so you might want to add another 5 to 10 %
Edited by Road Pest on Friday 1st May 20:44
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