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is 20% under the asking price a cheeky offer
mummyemma
Posts: 106 Forumite
We are currently looking at buying a new house and are in a rental property at the moment so no chain. Have seen a house we like and I think we should offer about 20% under the asking price, or it that to cheeky??
Thanks
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you should offer 30% under in this current climate nothing is cheeky....all they can say is no....how long has it been on the market? why are they selling? all adds up in your favour especially as your not in a chain
don't feel cheeky just ask 30% then if they say no come down 5% i can bet they haven't had many if any offersIf you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
Depends on the sellers really. Unless they are really desperate i'd expect it to be rejected pretty quickly.0
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Thanks for your quick reply. Not sure how long it has been on the market other than with the present agent they say 3months ish but were a bit vague. Not sure why they are selling but do know that they only live there from time to time and you can tell.0
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No offer is too cheeky, business is business !
Whether they accept it or not I guess will depend on how long its been on the market & how desperate they are to sell.
You have to consider for your own sake, what it will be worth in another years time, and give yourself a bit of a buffer.
There are houses in my area, that have been on the market a year or more, and they've dropped the price a measily 5%. They will not sell simple as that, and will still be on the market in another years time.0 -
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This is all food for thought. I want to go in with a low offer as like people have said I dont want it to be worth less in a years time. However the property needs work so hopefull this will add value and its a property I intend on been in for the next 10years plus0 -
We are currently looking at buying a new house and are in a rental property at the moment so no chain. Have seen a house we like and I think we should offer about 20% under the asking price, or it that to cheeky??
Thanks
If you feel the current housing stock is 20% over valued why not wait until next year ?0 -
I wouldn't get too hung up on the asking price. See if you can establish what the 2000-2002 sale price might have been.0
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We are currently looking at buying a new house and are in a rental property at the moment so no chain. Have seen a house we like and I think we should offer about 20% under the asking price, or it that to cheeky??
Thanks
If you don't ask you don't get. Any £1 saved is better in your pocket. Start with a low offer and work you way up if you feel its worth it.
We have just had an offer accepted on a property. Initially up for sale about a year ago for £249.995 then reduced to £224.995 6 months ago then 2 weeks ago again reduced to £209.995
We offered £190.000 and stuck to our guns saying this was the maximum the bank would give us. He came back and said he would accept £200.000 which we declined then came back with £196.000 again we declined. Then a few days later agreed to £190.000
We knew the guy was desperate to sell as it was vacant and he was living in another property. We are first time buyers with no chain and could complete in what ever timescale he wanted.
We have checked the house price sales in the postcode and nothing has ever sold below £200.000 with the average house price being £214.714 (this is for both 3 and 4 bedroom properties of which ours is a 4 bed). There is one other house for sale in the street for £249.9950 -
From what I can see the 2000-2002 prices range from £80,000 to £135,000 but its hard to know if those are for 4 beds or 3 beds as there is a mixture in the street
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Don't forget to make sure the vendor knows you're chain free!Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0
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