Cheeky Low Offers - do they work?

Gorgeous_George

I offered £150K on a house marketed at £175K. Eventually, we agreed on £154K. It needed a lot of work (obvious to anyone, not subjective) and,with hindsight, my initial offer was more reasonable than I thought at the time. Maybe I should have held out at £150K.

The house I sold was marketed at £137.5K and the lady buying could find no faults other than no central heating. She offered £132.5K to free some money for GCH. I pointed out that the house was valued without GCH and, after a couple of offers, she agreed to pay the asking price.

In my view, buying a house that needs work is less stress - less people interested - and you get a better price. When selling, play hard ball and stick to your guns providing you find a buyer in the timescale that you need. Promote the best points, targetted at the potential new owner, and forget the negative bits.

So, OP, make your low offer and be prepared to justify it, raising it a bit at a time if necessary. So long as you are not buying from me, good luck!



GG

merlinormartin

yes it does work .. a relative of mine .. offered £85k for a property that was up for £110K...i dont think the house had been touched since the 50s and needed alot of work ... the owner of the home had recently passed away so the money from the sale was going to his son, who i think was just after a fast few ££££. so my advice would be to GO FOR IT!