what is a realistic offer

doncouple

we have finally sold our house and moving to a 3 bedroom family home and have finally looked and liked one

the house is up for 139500 (cheap but we live in doncaster where you can buy a small mansion for 500 grand LOL) and it has been on the market for 18 months and started at 145, it was lasted reduced in june

so what would be a good starting offer and realistic what can we hope for ,looking on some sites it says offer 10% less, is this right seems like i would be taking the micky offering 126000

please give some advice please

smcqis

i would start around that for sure, most ppl always reject first offer

SilverSix

Depends how many offers they've had before, when these where, how much they were for and if they were rejected or fell through.

If they're desperate then no harm in chancing it.

paint

What do you think it's worth and what are you prepared to pay?

Then work back, and start negotiating with a view to agreeing a price under (or, worst case scenario, at your ceiling price).

I recently wanted to buy a house originally on at £225k. They reduced it to £215k after 8 months on the market. I decided my top price was £200k. I went in with an initial offer of £193k, knowing it would be rejected. The agent came back and said that a deal could probably be done in the 'low two hundreds'. I went back with £200k, making it clear this was my top price, and we agreed a sale on that basis. I could have gone up in small increments, but I just wanted it sorted as quickly as possible. I also really wanted the house (there is nothing even approaching it on the market a the moment) so was prepared to go to my top price to secure it.

Good luck, whatever you decide.

doncouple

I think I will start offer at bout 125 and go to 133 that roughly 5% off

Mallotum_X

What have similar places actually sold for, this needs to be your benchmark for the value of tha place.

HAMISH_MCTAVISH

Research actual comparable sold prices in the area. That's going to tell you what it's worth, and it's what you should be prepared to negotiate up to.

As for initial offers, 10% or so lower as a starting point for negotiation is certainly not taking the mickey and shouldn't offend anyone. But offering stupidly low (like 30% below asking) is just offensive and labels you as a timewaster from the outset. Which is obviously not helpful if you genuinely want to buy the house.

mbga9pgf

We offered 30% off on a repo and bought... The asset management company was only interested in whether we had the cash, were proceedable and getting the sale through ASAP. Original price was 450, bought for 325.

It can be done, but you have to find a seller desperate to sell or who has nothing to lose. A good example are divorcees and probate.