http://www.telegraph.co.uk/money/mai...p04.xml&page=2
Ray Boulger, of mortgage broker John Charcol, says that if you are a first-time buyer or have nothing to sell you can be picky on price. He suggests that if a property is listed at £300,000 then it's worth putting in an offer of £249,999 or £275,000.
"There is no such thing as a silly offer. We had a client looking at a £1m property who put in an offer for £800,000. It was rejected at first before the vendor came back with a figure of £900,000 that day. A week on, the £800,000 bid was accepted.''
So prices are already realistically down 20% of asking price.
Question is, wade in now or wait another 12 months and get them 1/2 price.
Ray Boulger, of mortgage broker John Charcol, says that if you are a first-time buyer or have nothing to sell you can be picky on price. He suggests that if a property is listed at £300,000 then it's worth putting in an offer of £249,999 or £275,000.
"There is no such thing as a silly offer. We had a client looking at a £1m property who put in an offer for £800,000. It was rejected at first before the vendor came back with a figure of £900,000 that day. A week on, the £800,000 bid was accepted.''
So prices are already realistically down 20% of asking price.
Question is, wade in now or wait another 12 months and get them 1/2 price.
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