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How much should I offer on a house valued at £99,950, previously bought (and since refurbished in December 09) for £69,000?

I'm not sure how much to offer on a mid terrace house on sale at £99,950. It has been done up to a very high standard, only 2 bedrooms, 1 bathroom, kitchen/dinning area and living room, no off road parking. I have found that it was bought only last Dec 2009 for £69,000 and the seller has done the property up to this standard for profit. What would be a reasonable first offer? I can't really afford to go over £95,000.

Asked on Mar 19 2010, House Prices in Huddersfield | Report content

Answers (2)

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  • I think the best thing to do is to look at other comparables on the market - it doesn't really matter what the person bought it for before as you do not know how much money has been spent on it since. When you look at other properties in that area does this property seem expensive/ cheap/ about average? You need to work out how much it is worth against the local market and then see what you can afford to pay. Then make an offer! Good Luck!

    Answered on Mar 20 2010, Report content
  • Hello, when you see what vendors have previously paid on properties it can be a bad thing. The property may have been completely renovated over time. Try to look at what your feel the property is worth to you, then make a reasonable offer. Try and avoid offending the vendors as it there home at the end of the day. Note that some comparable properties on the market can be incorrect. I would research the area and then look at other properties in the surrounding area; gardens, parking, location, how do they compare? Good Luck with the search. Should you need further help with mortgage advice then please get in touch.

    Answered on Nov 15 2012, Report content

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