Buying a home and don't know how anything works
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We offered just over. Already thinking I should've made a better offer and might've avoided best and final, but perhaps it would've gone to that anyway with multiple offers.
Zapp Brannigan
Built like a steakhouse, handles like a bistro
Red Cat
We just bought via "best and final". Our initial offer was 2k over asking, because we knew there were dozens of viewings on the one day and others similar nearby had gone over.
3 bidders were invited to best and final. We offered 6.5k over (just less than 2%), someone else bid 7.5k over, but we were chain free (moving from rented) and the others weren't so we got lucky.
Anecdotal evidence, sample size of 1.
We just bought via "best and final". Our initial offer was 2k over asking, because we knew there were dozens of viewings on the one day and others similar nearby had gone over.
3 bidders were invited to best and final. We offered 6.5k over (just less than 2%), someone else bid 7.5k over, but we were chain free (moving from rented) and the others weren't so we got lucky.
Anecdotal evidence, sample size of 1.
We are in an up and coming area (bit of a shithole with now increasingly expensive but small houses that feel overpriced). We want to stay in the area, kids are at school here. Downsides in terms of limiting value are that its on a main road, and 2 doors down from a corner shop. These are factored into the asking price, which I think is a fair asking price. 2.5% above feels like a sensible offer but who knows?
Zapp Brannigan
Built like a steakhouse, handles like a bistro
All you can do is check what others in the street have gone for recently (if any), and factor in ludicrous inflation. Bid what's sensible for your budget, anyone else bidding is outside your control, so don't sweat it - if they get it, it's because they paid more than you were ever prepared to, not "oh shit we missed out for the sake of a grand".
I've done all of that obsessively
Its hard to judge as they're all very slightly different edwardian/victorian houses, so one was on for the same asking last year, over the road, end terrace rather than mid, a really lovely kitchen extension (so many are awful) but smaller north facing garden, and downstairs bathroom.Trying not to regret not going for it when I saw it on rightmove but this was before neighbour issues really escalated and we were thinking of extending our own house. But also I know i'd have hated the north-facing garden as we have south atm.
bellaozzydog
rolling turds in glitter
On a previous purchase I used to send my dad down the local solicitors to doorstep the fuckers. Definitely something that gets stuff moving a bitHoly shit. This is why people go and sit in solicitor’s receptions with their arms folded until stuff gets done innitI’d assume the reference is your ISA account number?
He wasn’t mad keen on it as he is quite polite and not a rattler of cages but he managed it
Ours has a wide zoopla estimate and is already on at 40k more than they bought it for in 2019.
Cat Fan
Cats and stats
The Zoopla estimate takes into account other properties sold nearby with similar characteristics, but it's only as good as the data fed in, so the more unique the property the worse the estimate.
House prices are variable anyway and there's a certain element of luck and timing involved.
A professional surveyor told me recently that he doesn't think 3rd party valuations are that useful for buyers, because he thinks buyers and sellers generally do their research and are good at agreeing a sensible price between them.
My philosophy is to only offer what you believe it's worth to you. Everyone has different requirements and what's worth £200k to one person might be worth £220k to the next person without either one being wrong.
House prices are variable anyway and there's a certain element of luck and timing involved.
A professional surveyor told me recently that he doesn't think 3rd party valuations are that useful for buyers, because he thinks buyers and sellers generally do their research and are good at agreeing a sensible price between them.
My philosophy is to only offer what you believe it's worth to you. Everyone has different requirements and what's worth £200k to one person might be worth £220k to the next person without either one being wrong.
I'm not really influenced by zoopla, I've looked at other properties, but as I say they're all slightly different, and this is priced in the current situation, not that of a year ago.
What its worth to us...well, that's variable isn't it? In the end, we could offer well over because we're desperate to move, that wouldn't be a good basis for a big financial decision though. And the bank could value less and we're left with having to make up that difference. 2% over seems reasonable to me, over that, less so.
What its worth to us...well, that's variable isn't it? In the end, we could offer well over because we're desperate to move, that wouldn't be a good basis for a big financial decision though. And the bank could value less and we're left with having to make up that difference. 2% over seems reasonable to me, over that, less so.
No, zoopla also has prices paid, and what the asking price was. So it's useful for your own research. It also has an estimate of what a property is worth based on prices generally, and that's a lot less helpful.
zoopla has the asking price and the sold prices, right move only has sold. So I could see that despite everyone saying houses are going for well over asking, in 2021 they tended to go for only around 5k more. This might have changed in 2022 though, and demand really does outstrip supply where I live, but there's no way of checking that at this stage.
Artaxerxes
Look out, he's got a gnu!
Zoopla has more less the same info and properties as rightmove so no real difference to me. Rightmove tends to get things a few hours quicker but zoopla gives you a better search and more details about what stations are nearby directly
Property estimates are all over the place now, everything seems to be going for 10-20 above asking at the moment (minimum)
Property estimates are all over the place now, everything seems to be going for 10-20 above asking at the moment (minimum)
5t3IIa
Registered User
Zoopla is also good to find the previous listing and pics of a property, if it’s a reasonable timeframe 
The pics from the previous sale (in 2012) of the one I’m buying are very helpful in seeing a different furniture layout etc. And that a bed does fit in the box room, even if nothing else will 
The pics from the previous sale (in 2012) of the one I’m buying are very helpful in seeing a different furniture layout etc. And that a bed does fit in the box room, even if nothing else will I've literally just described the difference, twice now, zoopla has asking price as well as sold price so you can actually see the difference rather than guessing what people have paid over (which isn't 10 -20 over according to the stats, its about asking price or 5k more in my area). That might have changed in the past few months as this information isn't yet available.
Zoopla is also good to find the previous listing and pics of a property, if it’s a reasonable timeframe
Yes, that's another difference that's helpful, and that's also why you can see both asking and sold price.
There are also plenty coming back on the market at the moment, that were under offer within days. So that 10-20 above doesn't mean very much necessarily.
5t3IIa
Registered User
I, personally, absolutely have no comment on the asking/sold prices. I trust that you have done the research and have interpreted it correctly
This thread has a few explainers who can’t read so do put your ‘dealing with that bullshit’ hat on, iyswim 
Elpenor
Dancing as fast as I can
Thanks - I didn’t know that
Hopefully I won’t have to use either again but handy to know for the future
WouldBe
Dislicksick
5t3IIa
Registered User
It could have been shoe boxes with a duvet draped over themVertically?
Elpenor
Dancing as fast as I can
That sounds frustrating Thora
I’ve started to sell some investments as I’m conscious that exchange may be nearby. I will need to move money from Hargreaves Lansdown once the sales have all gone through. Hopefully I’m not selling for no reason as they’ve had to come out of an isa wrapper but at least I’ve come out just about up after the Ukraine impact on markets
I’ve started to sell some investments as I’m conscious that exchange may be nearby. I will need to move money from Hargreaves Lansdown once the sales have all gone through. Hopefully I’m not selling for no reason as they’ve had to come out of an isa wrapper but at least I’ve come out just about up after the Ukraine impact on markets
5t3IIa
Registered User
I’ll just give that a supportive ‘like’
