Just how cheeky can i be ????????

meanbiker84

Hi, Im intersted in purchasing a house only problem is I dont wanna pay asking price only for it to loose £5-10k in a month or two.

I have watched houses in my area CV6 loose around £20-30k already. then there are all the new builds being treatend by there banks to forclose on them. Every road I drive down i can count at least 10 houses up for sale. You also hear of all the houses being repo'ed.

Ihave just settled a insurance claim so i have a rather large sum of cash. If i could find the right house at the right price i could buy/compleate very quickly as shouldnt really need any morgage or any other funding but just how cheeky can i be with my offers?? what about new builds, are they gonna be less/more movable that private/desperate sellers?? how do i know just how desperate a seller is??

Thanks in advance

James

misscharlie

Questions you need to ask, is the property vacant, how long its been on the market. From there you get a good idea, and there is certainly no harm in at least 20-30k under asking price in this market.

meanbiker84

so if a house is on the market for £109,950 putting a offer of £80,000 would be acceptable?? Will a estate agent not tell me to p*ss off??? Im a compleat newbie a houses etc. I have money burning a whole in my pocket.

miggiwoo

meanbiker84 wrote: »

so if a house is on the market for £109,950 putting a offer of £80,000 would be acceptable?? Will a estate agent not tell me to p*ss off??? Im a compleat newbie a houses etc. I have money burning a whole in my pocket.

I'm selling my house at the moment , original £132k but accepted £125k
think this is a fair price but if buyer tried to gazunder us any further , would tell him to go and find another house.
I understand the falling prices and buyers market but would sooner not sell than get ripped off by someone taking advantage.

nadine220

You can be as cheeky as you want to be - I think you can fully chance your arm - the vendor does not have to accept your offer!!

Estate agents have to pass on any offer to the vendors. If it was substantially lower I am sure they would advise their clients not to accept it and they would probably indicate that to you as well but my view is always if you don't ask you don't get.

Mutton_Geoff

What's it worth to you? I wouldn't put a straight £80k offer on a £109,950 house, I would make it look a bit more thought out.

In the current market I would make the agent aware of your financial position and ask the straight question "what is the lowest offer the vendor is prepared to accept?". You then have a starting point. Get a full survey done (less than £1k) then negotiate the inevitable defects off the previous offer. Be prepared to walk away if the price doesn't match your expectation.

Simply offering 27% less without substance or intention is just pee taking and most agents would see through that.

miggiwoo

nadine220 wrote: »

You can be as cheeky as you want to be - I think you can fully chance your arm - the vendor does not have to accept your offer!!

Estate agents have to pass on any offer to the vendors. If it was substantially lower I am sure they would advise their clients not to accept it and they would probably indicate that to you as well but my view is always if you don't ask you don't get.

Also , if you can drag it out for quite a while , you can then say the value of the property has gone down even further .
I'm a bit peeved with my EA (begins with H and ends with X) that when my house (£132K as per their valuation) received an original bid of £120k , they basically made me feel wrong for not accepting it and then said what else could we "throw in" to make it more attractive ( my laptop , new TV , Wife and kids ?).Really makes me think they are earning their £2-3k off me.
Sorry if this is going off the original subject.