What do I offer

[charlie MacZ]

Hi,

I've been pre-approved for a mortgage of 276000(LTV 92%), and will soon have the 24000 for deposit.

I'm wondering what is the process of putting an offer on a property? What do I offer initially? If a house is on sale for 300,000 what offer do i put in first? are there guidlines in these scenarios?

The links below show houses i would be interested in and am wondering what to offer on these. If a house is on sale for 300,00 could I get it for 200,000 ! or is that just very wishful thinking !!

Thanks.

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[Delphi]

Hi,

I would say offer €50,000 less than the asking price (its worth a try). I dont think you could offer anything less (unless the house would need a lot of work to be done to it.) It all depends on the vendors position and how quickly they need to sell and then someone might offer a higher price.

View the houses and if you see something that you really love try bidding low and then if they dont bite you could allways go back to them and make a higher offer.

Best of luck!

 

[Vega]

Yes every seller's situation (and house) is different. Apparently some people were offering 65% of the asking price but other properties are eventually going for close to the asking price.

Just compare to as many similar properties, or properties in the same area as you can. Also, talk to the estate agents and ask them a bit about the sellers, what their situation is etc. Happy hunting.