Offering 15% less or more off asking price - too cheeky?

harrup

We viewed a house a couple of month ago....whilst we both liked it a lot we felt it was massively overpriced. It has been on the market for more than a year or so and has changed agents twice.

I know you are going to holler with laughter at this....but the vendor was so charming, we didn't want to insult her with an offer way below the asking price.

Vendor bought house 4 years ago, put in new heating, new bathrooms, new de-luxe kitchen. Lovely decorated.

BUT.....we simply couldn't see how all of the above would have added 160 K to the price they bought it at in 2006.

Anyhow, I can't get the house out of my mind. It's perfect in terms of size. And still for sale.

Should we be bold and offer 20 % less ? 15% less? If that was your house, would you be so !!!!ed off that you would refuse to deal with the seller?

On the one hand I cringe...on the other hand we DO feel it's massively overpriced.

thunderbird

Offer whatever you feel it is worth and are prepared to pay.

Ruthy1604

I'd have no problem making a low offer. If its been on the market a while, the seller may me keen to move!

Nothing ventured, nothing gained... she can always say no!:)

Good luck

Ruth

Squish_21

I'd give it a go and offer 15% less! Otherwise you'll always wonder 'what if we had offered...'!

If its going to be your first and final offer make that crystal clear.

DaddyBear

There is a saying that if you aren't embarrased by your initial offer it's too high. 15% off is a perfectly reasonable place to start. I bought in the last year and started at 15% below asking, eventually settling for 11% below asking. The higher you start, the higher you'll pay.

Loopgames

Go for it. We are selling our property and welcome cheeky offers! Seriously, at least you know what other people want for it. It's nothing to be embarrassed aobut.

We've had two cheeky offers for our flat on the market for £159,995

1) £119k
2) £142k

The worst that happened was us saying 'cheeky offer'..or thanks but no thanks.

In the end we've settled for an offer of £155k offer.

Go for it. If we didn't have the higher offer..who knows - we may have stayed put:D

Made_Without

I agree, nothing ventured, nothing gained.

I dont think in this day and age anyone is so sensitive to get offended by an offer!

Good luck!

C*F

myhouse_2

It never fails to amaze me how many people put the seller's emotions before their own financial situation. Sure they might be a bit non-plussed - so what? It's just business and it might make them rethink their asking price.

nomnomnom

We went in about 15% below asking I think? It was up for 150,000 and we worked up to our final offer of 140,000 which they accepted. I think there were 4 offers in total.

But definitely NOT cheeky to go in at 15%, that's what most sellers should expect you to begin at.

edit - just to say that we offered end of feb and completed on 27th june.

tawse57

IMPO if your offer does not embarass you then it is too high.

160K more in just over 4 years - they are taking the proverbial surely? New wiring, new bathroom? Oh, that will add 160K to the value! LMAO!

Only 15% below asking price - I offer them 25% less and see what the reaction is. What is the worst they can do - say no?

This is not financial advice.

Henry_P_Chester

I would start with offers at about 15% below in a booming Market on houses that have not been on the Market too long. In a dead buyers Market on a house that has been on the Market more than a year I'd start at something like 30% below asking.