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How low is too low????
franalexproject
Posts: 4 Newbie
...When making an offer on a property.
I'm fairly new to this but have read on here words to the effect of "if you're not embarrassed by your first offer, it's not low enough"
My H and I are considering buying a repossessed property to let out. We've found one we like which is currently on the market at £70K. The agent taking care of it is notorious in the area for over pricing initially then dropping the price by a few thousand then a few thousand more fairly quickly, with this in mind we expect the price to come down to around £65K shortly. My H has really embraced the "embarrassed by your first offer" thing and wants to offer £41K. Since it's a repo there's no vendor to offend but £41K just seems far too sickeningly squirmingly low that I would just be too embarrassed to even get the words out of my mouth.
Any thoughts?
I'm fairly new to this but have read on here words to the effect of "if you're not embarrassed by your first offer, it's not low enough"
My H and I are considering buying a repossessed property to let out. We've found one we like which is currently on the market at £70K. The agent taking care of it is notorious in the area for over pricing initially then dropping the price by a few thousand then a few thousand more fairly quickly, with this in mind we expect the price to come down to around £65K shortly. My H has really embraced the "embarrassed by your first offer" thing and wants to offer £41K. Since it's a repo there's no vendor to offend but £41K just seems far too sickeningly squirmingly low that I would just be too embarrassed to even get the words out of my mouth.
Any thoughts?
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Comments
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If its a repo it will be being sold by the bank, and I shouldnt think for a moment they will entertain that offer. They have to be seen to be getting the best possible price for the property and on top of that your offer (if accepted) will be advertised in the local price.Pawpurrs x
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franalexproject wrote: »...When making an offer on a property.
I'm fairly new to this but have read on here words to the effect of "if you're not embarrassed by your first offer, it's not low enough"
My H and I are considering buying a repossessed property to let out. We've found one we like which is currently on the market at £70K. The agent taking care of it is notorious in the area for over pricing initially then dropping the price by a few thousand then a few thousand more fairly quickly, with this in mind we expect the price to come down to around £65K shortly. My H has really embraced the "embarrassed by your first offer" thing and wants to offer £41K. Since it's a repo there's no vendor to offend but £41K just seems far too sickeningly squirmingly low that I would just be too embarrassed to even get the words out of my mouth.
Any thoughts?
"sickeningly squirmingly low",.....so that's about right then!0 -
10p.........A blonde... cleverly disguised as a Brunette.......;)0
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1000 shares in Lehman Bros.[FONT=Arial, Helvetica, sans-serif]Rise like Lions after slumber
In unvanquishable number -
Shake your chains to earth like dew
Which in sleep had fallen on you -
Ye are many - they are few.[/FONT]0 -
:rotfl:
So 11p would be a reasonable starting point?!?0 -
....whether it's sickening squirmingly low or not , you offer it. What's the worst they can say ? .....No ?
You'd have the last laugh if they said yes wouldn't you !!
Better to have tried and failed than not to have tried in the first place.Am the proud holder of an Honours Degree
in tea-making.
Do people who keep giraffes have high overheads ?0
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