Is this a 'silly' offer?

playaz

Hi - I am a FTB looking to buy a 2 or 3 bed house. I have a decent deposit and am looking for property within the 100-130k mark within the West Midlands.

I have seen the following house, looks good and seems to tick most of my boxes but the price is a little higher than I want to pay. I am thinking due to the lack of buyers it puts me in a good position to offer around 80% initially for any house I put a offer on.

I have seen this house for just under 130k - but would it be silly offering around 104k? (80% of the asking price).

What does everyone else think?
http://goo.gl/xghO0

doyouwantfrieswiththat

playaz wrote: »

Hi - I am a FTB looking to buy a 2 or 3 bed house. I have a decent deposit and am looking for property within the 100-130k mark within the West Midlands.

I have seen the following house, looks good and seems to tick most of my boxes but the price is a little higher than I want to pay. I am thinking due to the lack of buyers it puts me in a good position to offer around 80% initially for any house I put a offer on.

I have seen this house for just under 130k - but would it be silly offering around 104k? (80% of the asking price).

What does everyone else think?
www.rightmove.co.uk/property-for-sale/property-33466051.html

No, perfectly fine. read my thread and you'll see what a silly offer is.

paulsad

They can always say no so what harm can it do?

playaz

doyouwantfrieswiththat wrote: »

No, perfectly fine. read my thread and you'll see what a silly offer is.

What is your thread - i'd love to read it

Edit... I found the thread.. wow 65k from 165k! And I thought I was taking the p*ss

bluebird

My thoughts are your offer would be too low,115-120k would be closer the mark,too low is not showing you are serious.the house looks lovely and well loved your offer should reflect this.
Goodluck.

Yorkie1

OP, nobody can say whether your offer is ridiculously low or worth a punt because we don't know the area. Have a look around on sold price websites such as nethouseprice, zoopla, mouseprice - to see what similar houses have sold for recently.

That will help you assess whether £130K is a realistic selling price, undervalued for a quick sale at that price, or overpriced by an enthusiastic seller.

playaz

I am thinking if I offer 120k - they will still refuse and hold out for more as from experience on here every single first offer is refused almost straight away as everyone knows there will be an element of haggling as nobody pays 'market price' especially in the current market.

Similarly if I offer too low they could just turn round and tell me to politely 'get lost' and not want to deal with me again.

snid

I'd agree that £104K sounds unrealistically low - but as others have said they can only say no. I don't believe that they'll then not listen to any other offers you make.

£115K sounds like a good initial offer to me, but in the end you need to know what the house is worth & decide if its worth any extra to you.

Looks like a nice house though.

SailorSam

I think a lot would depend upon how long the houses had been on the market and if anyone else had shown any interest.

budgetdiyer

£104k on that house looks to me like a silly offer, by all means offer it. I imagine it would be flatly refused, with no counter offer made.

I'd be looking at how much they paid for it (they bought it in 2005 for £127k or was it in 2004 for £115k, i cant see the number clearly is it 54 or 56!)

I think a fair starting offer would be £115k - £118k, bear in mind the stamp duty threshold at £125k. I suspect this is around the price the vendor is hoping to achieve.

Also bear in mind the property has been listed for ONE DAY, looks in very good order, ticks all your boxes etc etc.

girl_withno_name

Looks like it's appeared on Rightmove within the last 24 hours...

I'd say 54 is the house next door, looking at Streetview!?