Advice on putting offer in on house

maggie111

Welshwoofs, thanks for that tactic... it was kind of what I was hoping would happen with our 123 offer!!

Nooney, there are no hard and fast rules, our 20% less was based on the house we are hoping to buy.

If a house has been on the market for 3 days, a 20% under offer is unlikely to be accepted... 3 months and it is far less insulting. It all depends on what the house is worth, both to you and to general people. You may find a reasonably priced house and offer the full asking price!!

Learn more about the area - which streets are bad/good. Go onto https://www.rightmove.co.uk and look at all the houses and their streets on google maps - get an idea averagely of what 200k is worth there...

Then you can look into details of the house, how long it has been on the market (try https://www.propertysnake.co.uk to see which houses have been reduced.)

Houseprices.co.uk may tell you what it has previously been bought for in the last 10 years.

At the end of the day, it's this information which should inform you of what you're offer should be.... There's no "yeah, if you offer 20% less that's the best thing".... Some houses would mean that's too much, and some houses would mean that's too little!!

ess0two

nooney wrote: »

Thanks for all this info its actually exactly what Ive been wondering, we have sold our house have cash in the bank and are hoping to buy in York, does anyone have any ideas about initial offers,should we offer say 20 percent less than the asking price and work our way upwards or is that being too cheeky? We havent bought a house for thirty years so have no idea as to the custom.
we have about 200 thousand to spend and fortunetly no mortgage.

I bought an apt in York,got roughly 8% off,within the walls with parking also.
Perhaps paid a bit too much but happy either way as its a weekend bolt hole.
As for 20% all depends?within the walls i suspect you'll struggle.