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Reasonable offers on a fixed price?

Mishoooo67_2
Mishoooo67_2 Posts: 2 Newbie
in House buying, renting & selling
Hi Guys,

Im hoping someone may be able to give me some advice. Its been a few years since I last looked at buying a property and Im wondering if there is an expected percentage of an asking rice which is acceptable? Before it was usually 15-20% above the offers over price but I hear that has changed?

What about fixed price properties, can you offer below the price? Does anyone have a rough percentage of how much below the FP they will sell?

I do understand that every property and seller is different but any advice would be greatly appreciated.

Thanks



Mishoooo

Comments

  • sirmosh
    sirmosh Posts: 701 Forumite
    Depends entirely on the vendor, some people put their house up at a price and won't budge a penny below it, some market it with a view to getting 90% of what they're asking.

    Calculate what you believe it to be worth based on sold prices, local market and how much you want the house and offer that. If they decline then move on to the next house or offer more if you really want it.

    The asking price also changes things a bit, if they want £400k then offering £20k under asking if a lot different than offering £150k on a house up for £170k, likewise 10% of £400k is a lot more than 10% of £170k.
  • geoffky
    geoffky Posts: 6,835 Forumite
    Try under...why do you want to pay more..selling prices are running at 16% less than asking prices on rightmove..

    Look at selling prices in the area and that will be your guide,not asking prices..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    geoffky wrote: »
    selling prices are running at 16% less than asking prices on rightmove..

    That's simply not true I'm afraid.

    The real figure is more like 6% to 8%.

    See this thread for details.

    https://forums.moneysavingexpert.com/discussion/3891923
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Mishoooo67_2
    Mishoooo67_2 Posts: 2 Newbie
    Cheers for all the replies guys, really helpful!

    Mishoooo
  • brit1234
    brit1234 Posts: 5,385 Forumite
    HAMISH_MCTAVISH wrote: »
    That's simply not true I'm afraid.

    The real figure is more like 6% to 8%.

    See this thread for details.

    https://forums.moneysavingexpert.com/discussion/3891923

    Hamish giving a link to where you have said the same thing doesn't make it any more right. :rotfl:Can you give us the exact reference to the page and paragraph please.

    I actually believe people are offering far less below 10-20%. After all estate agents are adding at least 10% to compensate so your offer should be reduced by more than that to start with.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    brit1234 wrote: »
    I actually believe people are offering far less below 10-20%.

    Well yes, but you also believed house prices would fall 50% by Xmas 2009.

    And that silver will hit $500 an oz.

    So that doesn't give you much credibility in that regard....:rotfl:
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • brit1234
    brit1234 Posts: 5,385 Forumite
    HAMISH_MCTAVISH wrote: »
    Well yes, but you also believed house prices would fall 50% by Xmas 2009.

    And that silver will hit $500 an oz.

    So that doesn't give you much credibility in that regard....:rotfl:

    Hamish just give me your source of the difference between asking and selling prices or stop spouting it. :naughty:
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Already did.

    Read the other thread I linked to.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
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