132k House - Offer 117k???

Catbells

You can always go up from your first offer. Much harder to come back down from a higher offer.

Catbells

macgirl wrote: »

I would say go for it. We are in the process of buying and got almost £90k off the asking price cos they want to sell quickly and we are chain free.

Granted, we had to wait a month for them to come back but as someone said - if it's meant to be......... Good Luck!

Was that in the last 6 months?

Ankatden

Offer £110k and see what happens.

If you offer at the top of what you can afford then you have little room for manouvre.

Houses sell for between 5-7 % less than asking prices in good market and this isn't a good market so starting 15-16% below is a start.

Easy to get to £117k in stages BUT do not try and be desperate and keep upping offer day after day, tell EA you looking at 2-3 other suitable properties as well around same figure and let them know where and who agent is.

laurawantsahouse

110k? Really? I would defo offer that but am worried that being too cheeky would put them off us!! Maybe I am thinking about feeling too much!

FATBALLZ

117k seems more than fair in the current market. Although whether it is a reasonable price depends on the house in question. Don't be worried about offending people.

I was looking at houses the other day, not looking to buy for another 6 months but I saw a nice house on at £145k, bit of research suggested that was a highly optimistic valuation, all things being equal in 6 months time if it's still on the the market I'll probably go in at £115k.

matt1987

I have seen a house I liked for £117,500 and today have put an offer in of £102,000. I am a FTB with my mortgage agreed in principle, and I have stated that I could probably exchange between 4 - 6 weeks. Lets see what happens!

GDB2222

Nobody else has asked this, but how much is the house actually worth? Comparing with prices similar places have actually sold at, not current asking prices.

Doshwaster

GDB2222 wrote: »

Nobody else has asked this, but how much is the house actually worth? Comparing with prices similar places have actually sold at, not current asking prices.

A house is only worth what someone is prepared to pay for it.

As for a low offer - it's always worth it in the current market. You just need a plan for what to do if the offer is accepted. What will the second offer be? How high are you prepared to go? Are you really prepared to walk away? What "sweeteners" (such as curtains, light fittings and any white goods) could you ask to be included?

What I wouldn't do is give reasons such as "I think it needs a new carpet" - that's none of the seller's concern. As a seller I wouldn't give you a discount just so you could afford a new shag pile.

Ankatden

laurawantsahouse wrote: »

110k? Really? I would defo offer that but am worried that being too cheeky would put them off us!! Maybe I am thinking about feeling too much!

They want to sell house, who cares if they think its cheeky.

Bottom line is they can say No or alternatively they say too low and then negotiate, you may still pay £117k but you have forced them to change their perspective of thinking they will get £132k less a little bit.

Sellers cannot afford to be choosey in current climate.

GDB2222

Doshwaster wrote: »

A house is only worth what someone is prepared to pay for it.

As for a low offer - it's always worth it in the current market.

My point was that you need to look at prices achieved in order to know whether your 'low offer' is actually low.