Putting in an offer

FTB_2010

Hi

We are first time buyers and have found a house that we both like (me and wife) and have decided to put in an offer after our second viewing.

The house is on for £319,950 and has been on the market for over a week now so early days. Would a starting offer of £280,000 be too cheeky and not be taken seriously or is that a descent amount to begin with.

Thank you all.

Thrugelmir

If you were the vendor what would your reaction be?

Doozergirl

You can put it in, but you can probably guess what the answer would be after a week on the market.

If you do it, then I suggest that if it's rejected that the next question you ask is 'what will they accept'. Specifically ask for a counter offer and you will find the ballpark.

lee636

Cheeky b@stard!!! :rotfl:

The worst they can say (and will) is no.

paul1964_2

FTB_2010 wrote: »

Hi

We are first time buyers and have found a house that we both like (me and wife) and have decided to put in an offer after our second viewing.

The house is on for £319,950 and has been on the market for over a week now so early days. Would a starting offer of £280,000 be too cheeky and not be taken seriously or is that a descent amount to begin with.

Thank you all.

Most vendors/EAs seem to be adding about 10% to asking so they have room for negotiation. They are probably hoping for £290 - £300k.

If they have added £30k froth to a reasonable price, there is no reason why you shouldn't subtract £30k from a reasonable price to give you the same negotiation room.

Start low. If they say your offer is ridiculous, tell them their asking price is also silly and ask what figure they are really looking for.

Negotiate hard and don't be embarrassed.

Not_so_smarti_marti

Hi- We had a cheeky offer on our house - 40K under - can't blame them for trying - it might not be rejected - but if it is I would advise asking what their ball park figure is - my buyer has just irritated me so much with a dribble of offers that now - frankly i don't want to sell to them!! Good luck - if it is the house of your dreams and at a good price I hope you clinch the deal!

jockosjungle

Well when they offered £40k under what was your counter offer or did you just reject them?

Don't see what harm it can do but don't expect them to accept it, if its been on a week they might start thinking that they can wait a month and get more money, are they desperate to move?

R