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Offers in the region of...? Where, what, how?
GreenLady_2
Posts: 11 Forumite
I am trying to buy a house that was on last autumn at £485K. Then came down to £475K with another agent this spring. It is now with another agent at OIRO (offers in the region of) £400K. £400,500 has been turned down with the agent saying, "If you offer more we might have more idea of what the vendor is after." (Hmmm.) Can I offer under the price? Can I offer lower now I have offered over the price? Currently, (and I so hope permanently!) there are no other offers after a month at this new agent and price.
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Yep, offer what you like. It is more likely a lower offer will be turned down though.0
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You can offer anything you like, although don't have high hopes of it being accepted.
Yesterday I made an opening offer for a house that is 15% under the asking price but just 3% under the highest price ever paid on that road. The agent said his client would be "insulted" by my offer. The house has been on the market for 8 months. I wonder why.0 -
Thanks for your suggestions - I will see what happens!0
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If you offered £500 above the OIRO figure on a £400k house, then surely offering £403k would not be breaking your budget and might get a result. It is something that you could leave on the table, anyway. It wouldn't bind you to sustain it in the long term.
Offering less than £400k would be OK in another 4-5 months, maybe, when we are in the depths of winter and prices have fallen a bit, but right now, following your previous offer, it would look insulting to the vendors. They may be 'wrong' about the value of their house, but this isn't about right & wrong. Of course the house could go under offer by then, but the likelihood of that is something you will be best placed to estimate.
It seems to me that if you are wobbling over a few thousand on a £400k house, you aren't really that keen. I would need more motivation, myself!0
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