£????? If you are planning to move, then sooner or later you are going to have to decide what offer to accept for the home you are selling and subsequently how much to offer for the property you want to buy.
This is not easy an easy issue to resolve, largely because we all tend to get attached to ideas and notions... for example, almost every day we hear sellers say that they are unwilling to 'give' their property away, by accepting what they consider to be an unacceptably low offer. In the same vein, buyers say they are 'after a bargain'. Both expressions are understandable and express a fear that they could make a decision that they will regret unless they 'stand their ground.'
Sellers naturally need to feel that they are receiving a fair price for their home, while buyers need to be sure that they price they agree to pay reflects the recent reduction in property values.
However, offers have to be reasonable... If your home was on the market for £230,000 and were offered £20,000 below your asking price, when only last week you had reduced your asking price by £20,000 you would be feeling fairly angry and insulted.
But, if you found that the price of the property in which you were interested had remained unchanged for the past 6 months then you would be perfectly justified in submitting an offer somewhat lower than the unreasonable price being asked.
Remember that the selling agent really does want to be able to secure the property for you but he is duty bound to ensure that he is obtaining a price for his client that reflects the property's true market value.
He will take in to account your position and if yiou are in rented accommodation, with no property to sell and a mortage all arranged the he will certainly take this in to account when advising his vendor client.
Visit www.nethouseprices.com to learn what similiar property has been selling for in and near that postal district and then decide what you are willing to pay, taking in to account the condition of the property and any other relevant factors.
It is perfectly acceptable for your initial offer to be somewhat lower than the asking price and then increase your offer, hopefully a price being negotiated to a figure that is acceptable to both you and the seller. Be flexible and good natured in your dealings with the estate agent... it can only help your case.
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