Putting in a cheeky offer!

Carlm

I had my second offer accepted last week, I too made a cheeky offer and had the same worries to start with about offending people etc.... But got over that and offered 25k under the newly lowered asking price, the EA was not happy with and promptly sent me back a right move listing sheet of property's in an 0.5m radius ( covered most of the small city ) showing the marketed prices of similar properties. I replied back with sale prices for the road to justify my offer, there wasn't much new data to go on though to be honest, but it made my offer look reasonable.

The vendor rejected my offer but told the EA they would accept 9k less than asking, so by just starting out very low I had immediately gotten some useful info. I then replied telling them we were considering our position, left it a few days and came back with an offer 18k less than asking again using the house sale prices and our ability to act quickly, and that this was considering increase etc.. and it was accepted. ( There were no fixtures/fittings/furniture in the house were buying but if the one you like has you could try asking for more of that with each offer, request they throw in the washing machine, dish washer etc..... )

So push the fact you are First time buyers, have a mortgage agreement in principle, can act quickly and you should be a vendors dream buyer.

I do think zappahey is right though, if you appear to be responding to their rejections with increased offers very quickly they will keep pushing you... good luck

Ankatden

Carlm wrote: »

I had my second offer accepted last week,

I do think zappahey is right though, if you appear to be responding to their rejections with increased offers very quickly they will keep pushing you... good luck

Well done :beer:

mark5

I would ring the estate agent and say that after looking at your finances your unable to go any higher but your offer of £203,000 still stands.

No doubt the agent has told the vendor your coming back with a better offer tommorrow. When it doesnt come it should knock them for six.

Give it a week and see if the agent gets back to you.

Is the house really worth £220,000 in the current market?

Carlm

... Yeah and ask about any similar properties, give the impression you might be moving on

liam_h

Hi all.

Going along with the theme of cheeky offers.

We are borrowing the money for a house off relatives. We thought we had more than we do - turns out in total including our money we have between 125 and 130k.

When we were looking at higher value properties we saw one we really liked at 160k.

Now how low can we realistically go. The problem is the area is very good and prices are around the 150 to 160k so currently the price is about right. We were thinking originally no higher than 150k when we were looking, but now I'm wondering if an eventual final offer of 130k would be good enough, or just laughed at? Percentage wise, how low is too low?

myhouse_2

Liam H. Try it and see - you have nothing to lose.
You are buying an item that is very hard to value, even for professionals. Price depends also on how keen the vendors are to sell. No harm in putting in low offers. It's not like it particularly causes inconvenience to the vendor - they can just say yes or no. A viewing is far more inconvenient.

liam_h

That's what I'm thinking. I just don't want to alienate them that they don't take us seriously. We may go along the route of taking out a small mortgage to get our limit up to around 145k, if we decide we like it that much.
Lots to think about!

gashead1985

Offer 15k lower than asking price accepted ! yay!

myhouse_2

liam_h wrote: »

That's what I'm thinking. I just don't want to alienate them that they don't take us seriously. We may go along the route of taking out a small mortgage to get our limit up to around 145k, if we decide we like it that much.
Lots to think about!

It's business! Not a "let's not offend anyone" game. There are loads of sellers out there offending me with their obscene asking prices. Why should the buyer be so concerned. If you can't do business then improve the deal or walk away.
When I sell my house I really hope I get some sucker who is willing to pay extra 000's to keep my from being offended.

azkaban420

Well done gashead - glad you got it in the end

Az