house buying/pricing

[mwep201081]

bought my house for 20k off asking price and moved in 3 months before contracts exchanged

first offer should always be semi serious but not daft....

[Dan n Nic]

always go in 20% lower than the asking price and take it from there, and in this climate never pay the asking price.

Don't start me, we had our house valued today and basically the estate agent hasn't even bothered to do any investigation work. He has just looked on ourproperty.co.uk (or similar) looked at what he thought we bought it for and just guessed what it is worth which is about £15k lower than we were expecting. The thing is I have done my investigation work and I know for a fact that he has UNDERVALUED our house.

get a couple more valuations
you don`t have to put it up for sale at there valuation, tell them how much you want to ask for it

Already in motion, the problem is the original guy is a "friend" of my dads & I think he was just trying it on!

[emery1990]

Ok thanks for the advice, I'll go in about 5k-7k less I think

Also as I'm not going to keep it for long, maybe 5 years then aren't I best getting the longest mortgage possible so my monthly bill is as less as possible? Ive been offered 15% deposit and 4.4% from barclays, looking to get a 10% deposit really though..

[Dave_IOW]

Think you can get 5% ish deposits at the min. I payed 15% though.. another 38 yrs 9 months left on my mortgage 

[bricey]

Think you can get 5% ish deposits at the min. I payed 15% though.. another 38 yrs 9 months left on my mortgage 

[DOA]

Also as I'm not going to keep it for long, maybe 5 years then aren't I best getting the longest mortgage possible so my monthly bill is as less as possible? Ive been offered 15% deposit and 4.4% from barclays, looking to get a 10% deposit really though..

Work out the interest over that period that you would pay over a better rate but shorter term mortgage and estimate what you will make out of the sale of this house, if you think it adds up then go for it, if not then dont. Surprising how much interest actually amounts to in 5 years.