So tomorrow, my wife and I are viewing an 1950s ex-council 3 bed end terrace, that is actually 2 doors from our first BTL (around the corner) with a view to this being our second BTL. The difference compared to all the others that we have seen, is that this is advertised by an agent in the next town, and this viewing is with the vendor.
I'm inclined to believe that it's a touch overpriced, (based on what's sold nearby recently, and how much work they needed, but also what hasn't sold, and why) but as a long term investment it would still work at the asking price.
My wife thinks a bit more short term and thinks house prices and rents will both drop when Brexit kicks in. Given that it's been on the market just over a week, I'd imagine that they are not likely to be open to move far yet.
Now I'd quite like to suggest a price after the viewing to the vendor, and explain my reasoning. But if I put myself in the vendor's shoes the whole thing is irrelevant.
What's relevant is that we have a mortgage approved in principle, and we have no chain, so it all depends on how quickly and without hassle they need / want to sell.
What's also relevant is that all the other properties we've viewed would need some work before they could be let out and looking at the pictures this is good to go (doesn't always pan out like the pictures - what software do agents use to remove the "detritus" ?)
Anyway, thoughts as to the best way to approach it?
Am I over thinking again ?
I'm inclined to believe that it's a touch overpriced, (based on what's sold nearby recently, and how much work they needed, but also what hasn't sold, and why) but as a long term investment it would still work at the asking price.
My wife thinks a bit more short term and thinks house prices and rents will both drop when Brexit kicks in. Given that it's been on the market just over a week, I'd imagine that they are not likely to be open to move far yet.
Now I'd quite like to suggest a price after the viewing to the vendor, and explain my reasoning. But if I put myself in the vendor's shoes the whole thing is irrelevant.
What's relevant is that we have a mortgage approved in principle, and we have no chain, so it all depends on how quickly and without hassle they need / want to sell.
What's also relevant is that all the other properties we've viewed would need some work before they could be let out and looking at the pictures this is good to go (doesn't always pan out like the pictures - what software do agents use to remove the "detritus" ?)
Anyway, thoughts as to the best way to approach it?
Am I over thinking again ?
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