How to deal with cheeky offers?

central

A bird in the hand and all that.

If I try to sell a book in the street, it completely depends upon the timescale. If I'm prepared to come back each day for a week then I'll probably get the price I'm looking for. If I only have a couple of days I may have to accept a lower price.

If I put up a sign saying I'll only take the highest price in the next then years than I'll make more money.

It all depends on the timescale, but as to the here and now, there is an offer, as of today, that's what it's worth

pollyzanna

We have had our property on the market for about 3.5 weeks, had about 6 viewers and 1 offer. It is lower than we would like (asking price £155k, offer £145k) and they can't go any higher BUT they are in a good position - no chain. We took advice from our EA and have accepted the offer but have continued to market the property just in case anything else turns up. Nothing has so we'll probably go ahead. Them being in no chain and being really keen is a big plus that we figure is worth it...

At the end of the day, we could still be on the market next year and wish we had accepted it - so if the offer still allows you to move on then seriously consider it!

We did ask them to try and meet the asking price half way but they just didn't have the extra funds. Some people don't.

Bootsox

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?

Even if you are prepared to accept their reduced offer there is still plenty of opportunity for things to unravel.

Are the prospective purchasers cash buyers? Are they in a chain? Can they get a mortgage? Will the surveyor mark down the value of the property at even less than what they are offering?

Without more details of the property only you can judge if the 10% under offer seems acceptable, any advice on this board is pure guesswork.

Chris_Hinds

We sold our house in Scotland earlier this year. 15 viewers in about three weeks and one offer within 5 days. Offer was £20k below Home Report value (and £25k less than we paid for the house). We refused and a week later they came back with an offer £8k under Home Report which we also refused. Finally about another week later they came back with the full Home Report value which we of course accepted. It's a buyers market at the moment but don't always feel you have to accept the first offer on the table - if your circumstances don't dictate that it's vital to sell now (and ours didn't) then don't feel obliged to do so.

Kind regards

Chris

poppysarah

central wrote: »

A house is only worth what someone is prepared to pay, so at the moment it's only worth what you have been offered.

And it might be worth less once a valuer for someone's mortgage has a look.

Someone with pockets full of cash can pay what they want, a mortgage needs someone else to agree the value.

tara747

neas wrote: »

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.

Argh argh argh argh. :eek::eek::eek::eek::eek::eek::eek:

*PLEASE* do not use 'barter' when you mean 'haggle/negotiate'.

Bartering means 'to trade goods and services without the exchange of money'. I have heard it misused so many times in real life and on this forum, and I have to sit on my hands not to respond. But finally I cracked (sorry to be a pedant)...

iB1

pollyzanna wrote: »

We took advice from our EA and have accepted the offer but have continued to market the property just in case anything else turns up

So in other words, willing to leave your buyer open to being gazumped