Hello, short time lurker in this sub-reddit and on the hunt for the first home.
Just saw a property which has been renovated in the last year. They bought it for 185k£ and now asking over 270k£ (North-west England), area near students but house price in range 250-350k£.
They've done a good refurb, since the state of the house (3 bed terraced) was really run-down with significant issues. However there are a lot of "landlords" specials like chipped wood door, marks on sinks and toilet, plastering not always perfect, flooring not perfectly sealed next to the walls, as well the fitted kitchen looks really cheap (and they've not realised people might need a fridge).
It feels a blank canvas, but the asking price and the quality of the product are questionable.
A couple of questions:
- does the refurbishment comes usually with a warranty in case they've done a terrible job and the issues will bite in the back? (I'm going to ask the EA but not sure how the standard is)
- how much room for negotiation you believe is doable?
Ta!