Making an offer on a property

SQUIRT_2

Im a first time buyer with a MIP i have recentley viewed a property i would like to make an offer on it has only been on the market for 2 weeks with a guide price £146,500 i just wanted some advice on what sort of percentage i should start off with. I was thinking around 10% - 11% off but dont want to offend the vendors. I have done my homework and have found out they are moving away due to work but they have not found a house themselves yet & also looked up how much they purchased the house for £51,000 in 1997 and used the nationwide houseprice calculator which gave a value of £122,148 for march 2010. The house has been loft converted but that area does need some tlc but the rest of the place is nicely decorated. I really want to try and bag myself a bargain due to current property climate, any tips would be greatly appreciated as feeling quite daunted by the negoitation many thanks x

qball101

I can only speak from my experience as a recent seller. I hadn't found a place to buy so I turned down all offers below the asking price as property in my neck of the woods was in high demand. I took an asking price offer after about a week.

However, had I found somewhere I probably would have been inclined to take the first offer close-ish to the asking price. I suppose what I am saying is that if the vendor is in no rush they might hold out for a top price, if they've got to move then they'll probably take the first sensible offer. Your idea of what's sensible and their idea might be different bu there's no harm in starting at what you consider sensible and working your way up to what they think is.

I'd never be offended by a sensible offer.

Fire_Fox

Welcome to MSE!
http://forums.moneysavingexpert.com/showthread.html?t=1907059

new_home_owner_3

You can offer what you like, they will only say no if they dont want to accept it, i think the amount you said 15 percent which is 21000 pounds is a big drop especially if its only been on the market 2 weeks.

But like i said offer what your happy paying, if they dont accept it walk away and find a property in your price range.