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Questions about offers - making and accepting them
skintchick
Posts: 15,114 Forumite
so, we're selling our house, valued at 250k and looking to buy bigger. We had an offer of 240 which we refused and they have put it up to 245. We're inclined to accept but I'd also rather like the full 250. does anyone actually pay full asking price? i've never sold before so am clueless.
on the other side of the coin, we've seen a house we like which is on for 400k. so what should we offer? obviously people don;t pay the asking price, so how low do you go?
This area is buoyant in terms of property, and things are beginning to sell quickly now after a slowish winter.
Just after some advice from more knowledgable people really.
on the other side of the coin, we've seen a house we like which is on for 400k. so what should we offer? obviously people don;t pay the asking price, so how low do you go?
This area is buoyant in terms of property, and things are beginning to sell quickly now after a slowish winter.
Just after some advice from more knowledgable people really.
:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool:
:heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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if people dont pay the asking price then why are you expecting your buyer to?0
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if people dont pay the asking price then why are you expecting your buyer to?
What I mean is, it seems that people don't. Personally I'd rather it was just a price you pay, like in a shop, but as it seems that people do not pay the full asking, I'm wondering what we should offer? I'm happy to pay 400k for it really, as that is the asking price, but obviously people don;t pay asking prices so neither should we.
Does any of that make sense?:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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Your property is only worth what a buyer will pay for it.
If the offer is viable then accept.
If not decline and see if they up their offer or wait for another interested buyer.0 -
Bandofbrothers - I know that. I suppose I'm saying that as people obviously do not pay asking prices, which seem to be more like guide prices, then how much should we offer for the one we've seen? How much is it acceptable to take off?:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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10% less witg an aim to get 5% off... you should snap offer of 245k up :P0
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Thanks neas. I was going to accept it tomorrow, She wants the house as an investment, and I know she has no mortgage on her property which she is selling so they can emigrate, so I knew she could go a bit higher but she went up within hours so I wondered if I could get the full amount out of her!
So, on 400k, offer 360k with an aim to get it for 380k? Is that right? Seems an awful lot below the price!:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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I've plenty of experience of moving, and so far (touch wood) have a good record at buying / selling.
For you.. Is £245k enough? Well, that can depend on how keen you are to move from where you are now. Are you really keen to go? Are you fearful that your prospective new home might get snatched away from you? If you answer "Yes" to both of these then £245k should be acceptable. You don't want to lose a buyer for the sake of haggling of what (in this instance) is a comparatively small sum.
In terms of making an offer, what you don't want is to put an offer in of say £390k and have that accepted. Then you'd say "!!!!!! - I wish I'd have gone in at £380k now!!"
So, have a figure that you'd "like" to buy it for, then go in a bit less than that - you can always edge up towards your target figure if you need to. Different properties have different valuations & different buyers / sellers have different expectations or needs.
We sold ours in 2008 for £247,500 - the asking price was £247,500. I bought for £209,000 - It was "marketed" for an asking price of "240k
Hope this helps0 -
robbiecaratiger wrote: »I've plenty of experience of moving, and so far (touch wood) have a good record at buying / selling.
For you.. Is £245k enough? Well, that can depend on how keen you are to move from where you are now. Are you really keen to go? Are you fearful that your prospective new home might get snatched away from you? If you answer "Yes" to both of these then £245k should be acceptable. You don't want to lose a buyer for the sake of haggling of what (in this instance) is a comparatively small sum.
In terms of making an offer, what you don't want is to put an offer in of say £390k and have that accepted. Then you'd say "!!!!!! - I wish I'd have gone in at £380k now!!"
So, have a figure that you'd "like" to buy it for, then go in a bit less than that - you can always edge up towards your target figure if you need to. Different properties have different valuations & different buyers / sellers have different expectations or needs.
We sold ours in 2008 for £247,500 - the asking price was £247,500. I bought for £209,000 - It was "marketed" for an asking price of "240k
Hope this helps
Thanks, it does help.
Originally we thought ours was worth 220 so were pleasantly surprised with the valuation. We've already lost two houses waiting to sell this one so we don;t want to annoy our buyer.
however, I know a neighbour is going on the market soon and she is valued at 275 - the house is exactly the same except they have converted the integral garage (which would cost about 5k to do) and they have a smaller garden, so I'm a little annoyed at the difference in valuations (same agent).
Anyway, we can hardly raise our price so we will accept 245k.
I love the house I saw today - we are going back to view again and I am seing something else tomorrow anyway. I don;t want to lose it by going in too low, but I also don;t want to go in too high.
But, I do think it's a bit overpriced from what I've seen of the market round here. It's a very ugly house, but spacious inside.:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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The latest statistics suggest that Vendors are acheiving 94% of asking price, on average, so this makes the offer of £245,000 look good.
Some people do sell for asking price...some are selling over asking price, depends how much they want the property and how much you want to sell the property!My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0
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