How cheeky is too cheeky?

d4n13773

Can you put in more than oneoffer on the OO system? - or is it sealed bids all opened together. If you can bid more than once - what have you got to lose by starting low? Especially if there has been little interest in sale. Are you in a good position to buy, with mortgage/cash sorted or are you in a chain?

mitchaa

Wickedkitten wrote: »

Difference being just because it says offers over, that doesn't mean they won't accept offers under. My partners aunt who lives near Bathgate has managed to buy property for offers under the asking price even before the crash.

I agree if i was bidding on an OO property i would be bidding just slightly under or at around the OO value.

But you cannot bid on an OO property the same way you would bid on a fixed price property as the OO is already down on the fixed price property to begin with,

As above, same home, fixed price of £200k, OR OO £175k, you bid 20% down on £200k and you are bidding £160k, bid the same 20% down on £175k and you are bidding £140k.

Doesn't make sense, and probably the reason as to why a lot of Scottish properties are marketing at fixed price.

Sellers will soon cotton on and instead of marketing house at £200k expecting a 10% down bid, they will market it at £220k to make the £198k that they were originally hoping for.

Sellers are not stupid, they often need a good price to pay off mortgage and ERC charges/EA charges.

DAB1209

mitchaa wrote: »

You find me arrogant because i disagree with you...Great:rolleyes:

I found you arrogant at the way you put your point across.

woody252506

I think even now, you can get away with offering under what a property's price is on at in terms of offers over. Especially if the place is empty and your a FTB for example.

I have seen one, I am a FTB and the people selling have had it on the market for over 6 months and its empty, they want to get rid. Ill see it for a 2nd time and if i put an offer in ill be offering 10k under the OO price and saying thats my first and final offer, take it or leave it.

lynnexxxo

The OP is in an excellent position her, the vendor is probably dying to get rid of the property and get on with their life abroad.

Property has not been so over inflated in Scotland so i do agree that house prices have not yet fallen as much. However, there is nothing moving at the moment, even EA's which used to have three of four pages in local press have one or two ads.

Offer low, the worst that can happen is that the vendor will say no!

Edited to say that in the past a low offer would have been risky if someone else was interested but if they have had no other interest then no probs!

Imp

I see putting in your first offer as a statement of interest, saying you would buy the house at the right price, just as putting it on the market is a statement saying you will sell the house for the right price. A buyer who wants to buy a house and a vendor who wants to sell it have more in common than in disagreement. The price is a minor detail, and one not worth getting hung up about when you make your first offer, just remember, as a buyer, you can negotiate up, it is very difficult to negotiate down.

All you have to do now is figure out how much the house is worth to you, and if it is worth more to you than it is to the vendor, then through negotiation you should come to an agreement. If it is worth more to the vendor than it is to the buyer, then no agreement can take place, but there is no point getting worried about this. We all value things differently.

russ21282

Could putting in a ridiculous offer go against you though?

If i was an EA and somebody came along and offered 50% of the asking price, i would probably think either A) they aren't serious buyers or they are out to buy something really cheap.

somebody who was going to each estate agent and offering 50% offers on everything, wouldn't be a keen buyer and less likely to complete imo, and so could just be a waste of time.

We offered 20% less at first after seeing the house a few times and went up to about 13% less, which was accepted. With this one, the estate agents were on the ball returning decisions within hours. With previous houses where we put in really low offers, we had to call back up to find out what was happening, no returned calls.

just another angle to think about.

jossie_2

we have been really lucky selling our flat,we were asking for offers over 63,500 and we got an offer of 70,000 a few weeks ago which of course we accepted!!!!!!
i think even in this market it depends who you get through the door for viewings, if they love the place most people are willing to go a bit more to get what they want,plus we made sure our flat was in walk in condition,bathroom and kitchen were only fitted last year and the rest of the house was painted,wallpapered and new carpets too.
can i also add that 70k was our 1st offer, we thought we would get offered around the 63,500 which we would have been happy with.

zone

A cheeky offer would be something like £80k depending on how much work the house needs. But if its on for £130k and you want them to take you seriously i suppose £105k or thereabout would be ok.

cte1111

mitchaa wrote: »

I think you've been reading too much of the drivel sprouted on here, no wonder your bid was rejected, i doubt it was even put forward.

Estate agents earn commission on sales, it's not in their interests to forward ''stupid'' offers.[/quote]
Estate agents are legally bound to pass on all offers to vendors, whatever their own opinion on them