How to deal with cheeky offers?

Glaswegian

We've had an offer on our house of 10% lower than the valuation. It's been on the market for under 2 months. The potential buyers are adamant that they can't go any higher although I'm sure this line must be peddaled a few times (?).

Anyone recommend any strategies for squeezing low offers higher?

M.Holloway

Invite them round for a second viewing and make the home feel reealllyyy nice.

Chris2685

I think most buyers would go in at 10-15% under on any first offer, I know I would.

All you should do is play the game and negotiate, did you really expect someone to offer you asking price straight away?

Glaswegian

Chris2685 wrote: »

I think most buyers would go in at 10-15% under on any first offer, I know I would.

All you should do is play the game and negotiate, did you really expect someone to offer you asking price straight away?

Not really no – the way the EA was talking though it sounded as though this was going to be their only offer (although they would say that tho?)

theartfullodger

Tell 'em you're thinking of revising your price up... Weegie way...

firstaspect

If you'd be happy to sell the house at that price then do. If you're happy to wait then reject the offer and put the ball in their court as to if they wish to raise the offer or not.
I wouldn't class 10% lower than the valuation a cheeky offer though, with the market as it is I would expect a first offer to be around 10-15% below and maybe finalise on 5% under.

Chris2685

Where is the house located? How much is it up for? What size is it?

It's hard to answer really, without knowing if you're over-pricing it yourself

Gwhiz

Glaswegian wrote: »

the way the EA was talking though it sounded as though this was going to be their only offer (although they would say that tho?)

It might very well be. I've just put a cheeky offer in on a house I want to knock down @ 20% under. It is my first and final offer as the numbers to rebuild do not work for me at any other price.

If someone is not willing to pay a penny more then that's it. The same as when a seller will not accept a penny less.

It's a good game though

googler

Glaswegian wrote: »

We've had an offer on our house of 10% lower than the valuation. It's been on the market for under 2 months. The potential buyers are adamant that they can't go any higher although I'm sure this line must be peddaled a few times (?).

Anyone recommend any strategies for squeezing low offers higher?

Assuming you're in Glasgow, and assuming the valuation you refer to is the Home Report valuation, and also that a written offer has been submitted to your agent, then it'll be down to your agent to respond to the buyer's agent. You should therefore discuss this with your agent.

neas

10% under isnt cheeky... I offered 15% under at first and settled at 8% in the end.... (now own the home)... i think you have different perceptins of bartering process.

Its a bit of a game,... the estate agents always add on 5% to the price at the start anyways.

ILW

How many viewings or offers have you had?