My first Buy to Let – Is the estate agent being fair on price?Make Text Bigger
I am running into a confusion as you might expect when you buy your first buy to let. I looked at one 2 bed flat which was for 289k and I made an offer of 270k initially which got rejected as estate agent said there is a higher offer so increase your offer or the owner will give it to the other bidder.
I said no and he later confirmed that property is off the market now. However after 1 day I got a call back saying due to finance issues the higher bidder stepped back. So I offered him 275k, he was trying to force me to increase to 280k, but I didn’t and then he said please send me your AIP. Now my questions and confusions are:
1) Is the estate agent playing up with me to increase the offer ?
2) Property is on ground floor with no allocated parking, however all above floors have allocated parking so its a loss to me. I am thinking this quiet a lot that should I go with a flat with no parking, in case if I want to sell to get capital rise will this be able to sell off quickly.
3) I am seeing similar properties sold for 250 just 8-9 months back, do you think I should buy this for 25k premium.
4) I can see properties on rent for 1200-1250 (expenses are 2200 pa service charge etc), it is in a very good school catchment area so I presume it will attract families more. So should I think on above questions or I am just getting scared..may be normal for first time buy to let.
Just a note I also noticed that the property is marketed for 40% share or full buy so I don’t know who is the owner as normally why owners will try to sell the share. Don’t know if this is normal these days.
Any advices before I can jump on to this ladder.
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