Too Cheeky?!

19lottie82

pararct wrote: »

We do know from Land Registry data that on average properties are selling around 18% under the asking price.

Yes, under FIXED prices.

JimmyTheWig

OP, I think you're doing the right thing.
Decide what it would be worth to you when the work is complete.
Decide how much the work would cost.
Take one away from the other to work out what it is worth to you in its current state.

Newmummy2b

We put in an offer for 17% lower than the asking price and got it accepted (that worked out 25k less than asking price). It wasn't initially accepted but knowing the vendors are desperate to move and the fact the house needs about 15k renovation work we refused to budge. The same day the offer was declined, it then got accepted!! I say take the chance, tell the estate agents you'd like to put in a bid for x amount (your starting amount) but don't give away any clues as to how much your prepared to go up to. Make them work for it. If they say no, um and arh about it saying about the amount of work that needs doing etc and you'll think about it. Also if you have other factors going in your favour, for us it was we're first time buyers and chain free plus we have our mortgage and using solicitors through the estate agents to help the process move quicker, which the vendor is looking to move ASAP so we agreed to do this to help with the amount we got off. Give and take.

geoffky

missile wrote: »

If it were my house, I would refuse this ridiculous offer, mark you as a time waster and consider any subsequent improved offer with suspicion i.e. he will back out / gazunder.

If you want this house, be sensible and offer what you think the property is worth.

I got the house i bought in 2010 for 186k from asking price of 300k,, (39% off),so what do you think i should of realisticly offered..It is a 4 bed det with all bedrooms double with 3 bathrooms..some people just do not know how to haggle and you are one of those people...i knew everything there was to know about my sellers finances and used it to my advantage..I also found out that they only paid 46k in the 90s and where divorcing.....By your statement please tell me what i should of offered..;)

jimpix12

19lottie82 wrote: »

Yes, under FIXED prices.

Do you have a source for that? It's a reasonable conclusion that some of those Sellers who received an offer below their "OIEO" price accepted it. Best not to apply your own original research and first-hand accounts to the whole market.

Kyria

I looked at a house in Scotland - asking for offers over £163,000 (Valued in the Home Report at £163,000)

Put in an offer for £163,000 which was refused as 'the vendor was looking to sell it for more'.