So we have found a house that’s been on the market for a year. It is empty and owned by a big housing company. It started at £365,000 and is now on for £300,000. The estate agent said they may reduce it to £275,000. It needs a fair bit of work (around £50,000) so we are thinking of putting in a low offer of £237,000 and going up to £250,000.

Is that too low?

UPDATE 1:

Putting an offer in for £234,000 tomorrow. Fully expect it to be rejected but it opens the dialogue up! Wish me luck, I’ll update on here when we find out what they say!

UPDATE 2:

They rejected £234,000 and asked for our best offer. We told them £241,000 was our best (which it is if we want to be able to live and eat!). Waiting to see what they say tomorrow.