Offer timing and amount

helenjones833

Hi,

I am interested in a property in south London priced at 370,000. It has been on the market for some time and the owner has already moved out (he has moved to a new house in Manchester I think).

We've only seen it once so far and have also not viewed too many other properties (there aren't that many that are both affordable and suitable in the area we like) so not 100% sure of the market.

I'm considering putting in an offer now of around 320,000 (around 14% below asking price) just to get the process off to a start (while we also look at other properties), but wondering if this is too low? Or even too high? People have told me I've nothing to lose by making an offer but not sure if this is true.

Any advice gratefully received!

alicerosemarie

an offer can never be too low.. ! they can only say no!

helenjones833

OK thanks!

How do I actually make the offer at this stage? Do I just ring up the estate agent and tell them the amount?

Do I need to provide any evidence of funding at this stage?

And are they likely to give me an earful for making a "derisory" offer and try to talk me up or (attempt to) refuse to pass it on? (I know they have to pass it on, but wondering if they'll try that).

mbga9pgf

See what he last paid for it on the land registrry website.

I printed out our bank statement and gave it to the estate agent to prove our deposit. What you can do, is get a mate to view, put an offer in at 25% below, then go in a week later at 15% below.

A house is only worth what a person is willing to pay. By doing this, you play mind games with the seller. Its nothing worse than what they would do to you.

poppysarah

The eastate agent works for them not you.

If they say they won't pass it on but you're serious then put it in writing through their door.

Give it a deadline.