Making Offer on House in 2013

CircleFaust

CircleFaust

CircleFaust

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1 Dec 2003
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Hello

seen a house I fancy. first time buyer, good deposit so mortgage won't be problem (i don't think :p)
house was on for something silly £110k, then dropped to £100k, then recently down to £90k

it's a semi detatched 3 bedroom. i was thinking of offering £80k and going up to maybe £85
I've seen other 3bed semis on for about £80 however this one does have a garage

anyway, would like to know what offers folk are putting out and what others are being offered in 2013
 
Crikey, 85k for a 3 bed semi? Where is that? I paid 82k for my one bed flat! :eek:
 
I put an offer in 2 weeks ago for £235,000 on a £245,000 on a 3 bed semi because it needed the Windows doing (All single glazed but incredibly well looked after so do not need changing immediately) and because we were first time buyers with no chain with everything in place already.

Don't assume a mortgage will not be a problem, go get a mortgage promise BEFORE putting an offer in, you will be surprised how much of a better response you get from estate agents and vendors.
 
Offer 10% under what you think it's worth and what you'd be happy to pay for it then negotiate upwards until you agree a price.

Before making an offer get a mortgage promise letter and get a solicitor onside to do the business sellers and estate agents will look on your offer in much better light if it is all lined up and ready to go.
 
a1ex2001 said:
Offer 10% under what you think it's worth and what you'd be happy to pay for it then negotiate upwards until you agree a price.

Before making an offer get a mortgage promise letter and get a solicitor onside to do the business sellers and estate agents will look on your offer in much better light if it is all lined up and ready to go.
Click to expand...

Our offer actually got accepted over someone who offered more because we were first time buyers with all this in place as apposed to them being stuck in a chain. These 2 steps really work in your favour and give you a good bargaining point.
 
Sounds like a lot of house for 90k asking, is it in the ghetto or does it need a lot of work doing?

You opening offer will depend on how long the house has been on the market, how much interest has been shown by other buyers, how quickly they need to shift it and it's condition / location vs its asking price (i.e. what it's actually worth).
 
Depends on a few things really. Time on market, value, how inflated the asking price is etc etc

We had to settle for £245k on a £250k house the other week.
 
Cruiser said:
Hello

seen a house I fancy. first time buyer, good deposit so mortgage won't be problem (i don't think :p)
house was on for something silly £110k, then dropped to £100k, then recently down to £90k

it's a semi detatched 3 bedroom. i was thinking of offering £80k and going up to maybe £85
I've seen other 3bed semis on for about £80 however this one does have a garage

anyway, would like to know what offers folk are putting out and what others are being offered in 2013
Click to expand...

Definatley low ball mate, yer in a good position.
And the house dropping drastically like that means they must be finding it hard to sell. Anything obviously wrong with it?

also remember to check I think zoopla and upmystreet for final prices of sold houses in teh area/street

Have you had a viewing yet?
If so best piece of info I can possibly give is take a camera with you.
View a few houses and you'll get confused as tho which was which tbh.

Note down every little thing you think needs attention, of course big ones being kitchen/bathroom/central heating/boiler/double glazing.
 
i'm in northern ireland so might explain some things
buying on my own too so i can't go mad

for me the prices are reasonable now, rather than bargains. there used to be terrace houses in housing estates going for £160k over here , it was just plain stupidity

some of them do need a bit of work, but check this out

http://www.propertypal.com/property-for-sale/bangor/bedrooms-3-3/price-75000-100000

most people are saying, always offer 10% below asking then work from there. can't see anything too obvious wrong, but it's the home owner doing the viewings so i found it awkward a little
 
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Cruiser said:
Hello

seen a house I fancy. first time buyer, good deposit so mortgage won't be problem (i don't think :p)
house was on for something silly £110k, then dropped to £100k, then recently down to £90k

it's a semi detatched 3 bedroom. i was thinking of offering £80k and going up to maybe £85
I've seen other 3bed semis on for about £80 however this one does have a garage

anyway, would like to know what offers folk are putting out and what others are being offered in 2013
Click to expand...

Price is very dependent on location. where I live a 3 bed semi would be £6-700K.
 
I got 2% off the asking price for a house in the south east I think the national average is something like 6-7% off asking
 
In process of offering on a place today and looking like it'll be around the 5% off mark for us.

Wishing it was at those sorts of prices though!
 
I only managed to get around £1.5k off mine. Ended up in a small bidding war where it went to "best and final offers". That was truly a white knuckle day.
 
Considering putting in an offer in on a property myself. We already have a house and the mortgage is very low and our current lender has allowed us to rent it out. We have a mortgage agreed that ignores the current borrowing.

We live in West Wales so house prices are low - in comparison to where my father lives in Eynsham near Oxford where you can't get a 3 bed semi for under £250K.

House we like is quite a large sized 3 bed detached with a converted loft so 4 beds really. Its position isn't the best but the house itself is just what we need. Its up for £187,500 and they've had a couple of stabs at selling before but not much interest. Was going to start at £165,000 which is 12% off. I don't really want to pay too far over £170,000.

Looked at one house that was in a fantastic position - 5 beds, big garden, looks out over rolling fields, under 20 years old for £190,000. It was worth a look as similar ones are up for £230,000 but inside was just horrible. House was ruined.
 
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