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

[Deleted User]

It won`t be embarrassing because the EA will do the negotiating. Go for it. We sold our house at 24% below what we paid for it and at 15% below what someone else was selling his for (ours was a lot better etc) but we were realistic. It sold quickly but the other is still stagnant.

harrup

johnny_storm wrote: »

I suspect given its been on the market for a year the sellers are not serious about selling it, and therefore would not consider your offer.

You might want to try the propertybee and see if they have knocked anything off the price.

The price hasn't changed in about 18 month. Propertybee isn't helpful since they have changed agents in the last 2 month.

I really do think it's a case that unless the vendors get what they want they aren't fussed about selling. A friend of mine has her property currently on the market with that premise. IF she gets what she wants - 350 K-, she sells it, if not she is quite non plussed if she doesn't.

She bought the property for 88K 12 years ago...and she won't accept a nickel less than 350 now.:rotfl:

I DO understand why FTB are so raving angry given the above......

harrup

kittie wrote: »

It won`t be embarrassing because the EA will do the negotiating. Go for it. We sold our house at 24% below what we paid for it and at 15% below what someone else was selling his for (ours was a lot better etc) but we were realistic. It sold quickly but the other is still stagnant.

WOW!

I suppose you bought at the height of the market and then HAD to move ( work relocation, divorce, etc)? That is quite a financial hit to take. Uff.

Still you wanted to sell your house....and did. Bravo.

ILW

harrup wrote: »

Gulp. Seriously? Blimey, you've got ...erm...cojones!:rotfl:

Nah, I couldn't. That would insult the vendors. As this would amount to less than they paid for and before making pricey improvements. They easily spent 50 - 60 K on the house.

Still, admire your guts!

What has it got to do with guts etc, you just make a phone call with an offer. What the hell are you going on about?

harrup

ILW wrote: »

What has it got to do with guts etc, you just make a phone call with an offer. What the hell are you going on about?

To offer 30 % less than the asking price - which my reply referred to - on an immaculately presented house with recent refurbishments IS tantamount to insulting.To the EA as much as the vendor.

I couldn't do it. Putting myself in the vendors shoes, if someone viewed my house, twice no less and then offered 30 % less than it was advertised for, I would write that buyer off as a time-waster. Unless my house was virtually crumbling around me.

Full power to those who have the guts to do so....but I couldn't.

flimsier

Henry_P_Chester wrote: »

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.

Have you ever bought a house?

harrup

Well, our offer of 15% less was rejected in a heartbeat. Can't say i was surprised

EA stated that vendor won't budge much from asking price...at the most by less than 2% (10 K).

So....now what? Do we write off the house since we don't want to go that high? It's not shere bloody mindedness on our part either, but IF we didn't enjoy living in that area or wanted to sell this house in due course, we'd have to accept a massive loss. No way in hell is it worth the asking price...or even 2 % less.

But since the EA stated that vendor will not budge....is it totally pointless making a new offer at 10 % or even 7% less? 7 % amounts to 42K.

Or should we throw the towel?

harrup

Question: the house we are interested in has changed agents.

We viewed it - twice - a few months ago with a different agent ( EA 1).

Is the current EA ( EA 2) blowing us off because IF the sale proceeded EA 1 could rightfully claim that they introduced the buyers and the current EA would loose out on their commission?

or would they split it between them or what?

pardal51

harrup wrote: »

Well, our offer of 15% less was rejected in a heartbeat. Can't say i was surprised

EA stated that vendor won't budge much from asking price...at the most by less than 2% (10 K).

So....now what? Do we write off the house since we don't want to go that high? It's not shere bloody mindedness on our part either, but IF we didn't enjoy living in that area or wanted to sell this house in due course, we'd have to accept a massive loss. No way in hell is it worth the asking price...or even 2 % less.

But since the EA stated that vendor will not budge....is it totally pointless making a new offer at 10 % or even 7% less? 7 % amounts to 42K.

Or should we throw the towel?

- Has the EA actually forwarded your offer to the vendor?
- If you are sure that property isn't worth the AP or 2% less, just tell EA that your max offer is X and that is it.
The same way the vendor won't budge, you will not go over your max. As simple as that

Ankatden

harrup wrote: »

So....now what? Do we write off the house since we don't want to go that high? It's not shere bloody mindedness on our part either, but IF we didn't enjoy living in that area or wanted to sell this house in due course, we'd have to accept a massive loss. No way in hell is it worth the asking price...or even 2 % less.

Or should we throw the towel?

Walk away.

Don't get emotionally attached to having a house as when you do you make decisions based on your heart rather than your head but your head has to pay the mortgage.

If you have already accepted its over valued then buying at a too high price is already given you negative equity on day 1.

You need also to consider that a Surveyor may NOT value at the same price so the sale falls through anyway.