Advice on putting in a low offer-updated, rejected :(

AppleCore

A month is better than just on the market at least. Have you asked the agent if they've had any other offers yet? Dont be afraid to go in low. Don't let the EA know you have any leeway if you go in at £325, make sure you make you good situation apparent and say how you are aware that the market may be on a down turn. Best of luck with it all- let us know how it goes.

The EA said no offers and I got the impression it had had very little interest at that price.

Watch out for quick sales from divorcing couples. If there is any spite in play, they can and will play games on each other at the buyer's expense.

When making the offer, you should read the riot act to the agent and say that you will not tolerate this happening - and be prepared to walk away or drop your offer if you find this is happening.

Thanks for this useful advice, I hadn't thought of the potential problems with buying from a splitting couple.

We've brought the viewing forward to Thursday as our buyers are wanting to get things moving so hopefully this will work out for us

arby

the asking price is irrelevant. ignore it. it's only worth what someone will pay for it and a good guess is obtained by looking at what similar nearby properties went for. in this case, a better one went for a lot less. work out what the price is that you think it's worth and go from there. someone near me has put a house on at 400k after buying it a few years ago for £260k. they told me it was so they could knock 100k off the price and make it look like people were getting a bargain.

breadlinebetty

PasturesNew wrote: »

Go in at £299k.

Have you looked to see what zoopla guesstimates for it? How does it compare with other similarly sized/appointed houses in the same area?

You sure your eyes are working properly, PN? After all, you must spend ALL your waking hours glued to your PC screen! You are on here 24/7 - I'm wondering if you're some kind of robot?!:eek:

Anyhooo......your suggestion is plain madness! If the OP put in a stupid offer like that, the seller will think they're unwell and refuse to deal with them any further.

I know you would love to buy a place of your own for peanuts - but it ain't gonna happen!:money: Now stop monkeying around and go and think about waht you're saying. There's a goodie.

arby

breadlinebetty wrote: »

You sure your eyes are working properly, PN? After all, you must spend ALL your waking hours glued to your PC screen! You are on here 24/7 - I'm wondering if you're some kind of robot?!:eek:

Anyhooo......your suggestion is plain madness! If the OP put in a stupid offer like that, the seller will think they're unwell and refuse to deal with them any further.

I know you would love to buy a place of your own for peanuts - but it ain't gonna happen!:money: Now stop monkeying around and go and think about waht you're saying. There's a goodie.

or before throwing around insults you could read my post that's right above yours and you'd see that plain madness could be offering anything near the asking price. what a seller wants has no bearing on what a house is worth.

muskoka

I've recently offered 300K cash for two different houses recently - one is on for asking price of 387K and the other at 400K. Ok, so they both declined. I'm in no rush & its perfectly possible that one of them may come back to me in due course. particularly as the market is just beginning to tank again!:j

Offer what you think its worth & not a penny more. I'm in the south east & there are in excess of 400 new houses coming on every 24 hours! Fact -not an opinion (unless Rightmove stats are wrong)

Cannon_Fodder

ignore breadlinebetty, she used to be pickled pink, but her attitude upset so many she had to convert...

thewinkshow

in the current market your first offer should always be 10-15% under the asking price. you hold the cards, there are plenty more houses, be prepared to walk away, ensure you get a deal.House price seem to be ready to tank again.

9wizard9

If the recent detached went for 349, then anyone would be crazy to pay 369 for the semi (unless there are siginificant differences or the detached was massively underpriced). If the agent seems to be on your side that it's overpriced, they may well try to persuade the sellers that they'll never get near asking.

Make your offer just below what you think it's worth (327 has been mentioned -I'd probably go 325), and go up to what you think. Worth highlighting that recent prices have been falling, so they may be better to settle for an offer now, rather than hold out and only get lower offers (though depends on local market - sale prices in my village didn't drop at all during the last drop).

However, we've seen some funny asking prices round here for recently split couples - houses massively overpriced for well over a year, but no signs of reductions. One half of the couple can cause all sorts of problems if they don't want to settle for a lower price - particularly if one has already moved out.

Fingers crossed these people are being more sensible and settling for what they can get in the current market.

Salz

If they want 350k and you want 330K start at 310K, then you can suggest you meet in the middle

geoffky

THE house i have just bought was from a divorcing couple and it had been on the market 3 years...started off in 2007 at 299k i got the house for 188k..i watched the house fall and fall in price then jumped with a cash offer..