Putting in a cheeky offer!

fioshaw

My mum had the opposite: had the house on for £200k, someone offered £150k (little old lady on her own...). She of course refused. Ended up getting the asking price (2 days later) from someone else.

On the other hand, I was cheeky: a gorgeous house, been on the market (empty) for over a year, back in 1999. Reduced in that time from £200k to £100k (!!!). I put in an offer for £70k. The EA said "that's funny, someone else put an offer of £70k in for that house yesterday".
Neither of us got it but it was worth a try - just imagine if it had worked!!! Wonder how much it finally went for?!

funandfrugal

We have just put ours on the market at £230k to realistically achieve £225k. Anything below £222k and we could not afford to move so offers cheeky or otherwise could not be accepted. Its nothing to do with greed. Last time we were selling we had a nightmare offer of £30k under asking price that we were hassled daily about by the agent. It sold 5 weeks later for full asking. As with buying, do your sums, set your price and thats it. Why look at places 20% over your budget and waste everyones time and risk falling in love with a home you can't afford.

Lexis200

funandfrugal wrote: »

We have just put ours on the market at £230k to realistically achieve £225k. Anything below £222k and we could not afford to move so offers cheeky or otherwise could not be accepted. Its nothing to do with greed. Last time we were selling we had a nightmare offer of £30k under asking price that we were hassled daily about by the agent. It sold 5 weeks later for full asking. As with buying, do your sums, set your price and thats it. Why look at places 20% over your budget and waste everyones time and risk falling in love with a home you can't afford.

Because that's what the estate agents give you:) I reckon it's pretty much a certainty that your house with the asking price of 230k will have been given to buyers with a maximum limit of about 210k, or maybe even less.

We've just been in agents in the past week with an absolute max of 225k (and I was explicit in telling them this was the limit, which it really is). Houses so far have come back as high as 265k. As a buyer, I have to assume that the agent feels they vendor will come down to my price if pushed as they know 100% that I cannot get up to that figure.

Admittedly we are in a good position to move as we are currently renting and can move straight away, so this may have had an influence on them?

poppysarah

Lexis200 wrote: »

Because that's what the estate agents give you:) I reckon it's pretty much a certainty that your house with the asking price of 230k will have been given to buyers with a maximum limit of about 210k, or maybe even less.

Indeed.

Just because EAs say you should put your house on for £X doesn't guarantee you that much.

Arthritic_Toe

Note to offerers - if you make an offer and give the slightest impression that it isn't your final offer, it wont be accepted.

Asking prices vary wildly, some are realistic, some are ridiculous. Offers should be based on what its worth, not on a percentage of the asking price.

coral77uk

An acceptable offer is 5-10% under offer price. Our house is currently under offer and the amount we accepted was just below what we had wanted to accept, however the EA then said they wodul drop their commission so suddenly the net amount made it worth it. I hadn't realised EA's were flexible in this area so is always worth pushing both as a vendor and buyer.

foysal007

Hi guys, I saw an advert for an ex council house for 140k. When I went to view the house I asked the vendor what the best price would be , he said 130k . I haven't yet made an offer but I'm now thinking has he given me his best offer coming down from 140 and would it be cheeky for me to now ask for 10% lower? The area is an ex council and is not a great area but has some good amenities and I am a first time buyer with a tight budget and not desperate to move yet . I would say avg price in that area about 120- 125k, but given current market I would like to save a lot more and with house prices going down I'm worried that ex council houses could be affected even more. Please send me your views and opinions . The seller is quite desperate to move!

jw2003

Great news Gashead, good luck with your purchase

Lexis - I haven't told the agents I am looking with what our budget is I just call and tell them which house i want to see and when

kossohead

We are in the same like situation.

A detached house in our area was put on the market about 3 months ago for £295k. It was reduced yesterday to 279k.
We viewed the house today which was owned by a widow who has gone into a nursing home.
We are going to put a cheeky offer of £259k tomorrow. Say 249k and pay £10k cah to escape the higher stamp duty.
We sold our house 3 months ago and live in rented accommodation, so are in a good positionas a buyer.
Should we go in at £249 to start?

Will keep you updated.

Jackinbox99

kossohead wrote: »

We are in the same like situation.

A detached house in our area was put on the market about 3 months ago for £295k. It was reduced yesterday to 279k.
We viewed the house today which was owned by a widow who has gone into a nursing home.
We are going to put a cheeky offer of £259k tomorrow. Say 249k and pay £10k cah to escape the higher stamp duty.
We sold our house 3 months ago and live in rented accommodation, so are in a good positionas a buyer.
Should we go in at £249 to start?

Will keep you updated.

If they have just dropped the price yesterday I doubt if they will want to drop the price even more. They will want to see what offers they get in at the new lower price first.