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How do I negotiate a price for a house in a falling market. I need to use a mortgage and I'm worried about down valuing in the valuation

The property has been on the market for a year and has gone from 1,250 to offers in excess of a million during that time. I am the only person to view since it dropped to it's current price in early May - so do not believe it is worth a million. Probably closer to £950k. It is in good condition, the owner is the developer who refurbished it. I don't want to offend him but I also don't want to overpay. Help!!

Asked on Jun 28 2011, General in Ongar | Report content

Answers (1)

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  • If the owner is a developer then he would be used to putting in low offers himself on properties so you will not offend him. I would start at £900K and see where that leads you, he can only say no.

    Answered on Jun 28 2011, Report content

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