Opening Offer

KateLiana27

Personally, I'd think carefully about what it's worth (the maximum you would go for), and offer £5K below that. So based on what you've told us, £200K. A fair opening offer keeps the goodwill going and that does count for something.

forgotten_previous_ID

KateLiana27 wrote: »

Personally, I'd think carefully about what it's worth (the maximum you would go for), and offer £5K below that. So based on what you've told us, £200K. A fair opening offer keeps the goodwill going and that does count for something.

I am surprised that on a money saving site everyone is keen to spend as much money as possible when it comes to houses!

The only thing to say is do your research and offer what you think it is worth. However you may get it cheaper if the person really wants to move as eveyone has different reasons. I sold my last house for less than what I 'percieved' it to be worth, but was sick of the time and all the timewasters, but it was a fair price!

Houses go for a wide range of prices, in my local area I have seen as much as 30% off asking and some houses slightly 'over' asking price, and recently a few with 'real' loses, i.e. less than the people paid for it, which starts to hurt I guess (compared to what people 'think' they might have lost from a non-existant profit).....

tyllwyd

Are the couple living in the house at the moment? If they don't have anywhere to go, and you say that you want them out in a month that's going to make them less inclined to accept rather than more! I can't see them biting your hand off to accept an opening offer as low as £182 on a house marketed at £225 if they are relying on the money from this sale to buy their next house.

Emmzi

even if you are chain free unless you are also a cash buyer I can't see you completing in a month.

myhouse_2

forgotten_previous_ID wrote: »

I am surprised that on a money saving site everyone is keen to spend as much money as possible when it comes to houses!

I am likewise surprised. Vendors screw buyers for as much as they can get in a competitive market. Now that the shoe is on the other foot, everyone on this forum seems equally keen to ensure the vendor gets the maximum they can for their property.

ruggedtoast

What do you think the house is worth? After having looked at umpteen places and looked at sold prices I felt when we found 'The One' that we were pretty well able to appraise its value ourselves.

The vendors needed to sell and the asking price wasnt at all outrageous in the first place and we got them down about £9k off of that, which we were happy with. If the asking price isnt too bad you are unlikely to get 20% off.

There actually isnt anything wrong with putting in a low offer. EAs will tell you all sorts of nonsense about insulting their clients and personally insulting the Estate Agent Valuation God of Fat Ties and River Island Suits and Hair Gel, but from the other side of the fence when I was selling they just report the facts with an opinion as to whether they can get the offer up or if you should just file those vendors for the time being as tyre kickers and forget about them.

The main risk is that there is no point putting in low offers and ekeing them up a grand a week unless you are prepared to play the waiting game. If its a good house someone may get in ahead of you with a bigger offer and you'll miss out.

Whatever you do dont pretend to be blase or that you dont care that much. Showing the agent that you are really keen will work in your favour when making a low offer. No seller wants a demotivated buyer.

KateLiana27

forgotten_previous_ID wrote: »

I am surprised that on a money saving site everyone is keen to spend as much money as possible when it comes to houses!

The only thing to say is do your research and offer what you think it is worth. However you may get it cheaper if the person really wants to move as eveyone has different reasons. I sold my last house for less than what I 'percieved' it to be worth, but was sick of the time and all the timewasters, but it was a fair price!

Houses go for a wide range of prices, in my local area I have seen as much as 30% off asking and some houses slightly 'over' asking price, and recently a few with 'real' loses, i.e. less than the people paid for it, which starts to hurt I guess (compared to what people 'think' they might have lost from a non-existant profit).....

Sorry, I'm a bit confused as to why you quoted my post here. I said the OP should work out what he thinks it's worth and offer just below that. You said the OP should do his research and offer what he thinks it's worth. Aren't we in fact saying pretty much exactly the same thing?

I'm definitely not keen for anyone to spend as much money as possible on a house so I'm not sure where that came from. For the record, I'm a first time buyer and have no property to sell, so no vested interested whatsoever.