We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Is an offer of 20% off asking price too cheeky?

it-is-only-me
it-is-only-me Posts: 19 Forumite
in House buying, renting & selling
Here's the lowdown. I have seen a house I would like to buy. It has been for sale for a couple of years. 1st agent had it for £375,000 and current agent has had it since June2011 for £325,000. It has an extension on the property that is completed to 1st fix so not completed for building regs yet. It also has 2 barns that are asbestos (nothing visually amis with them, but thats not to say there isn't trouble lurking). We are thinking of putting an offer in of £260,000-would this be too cheeky? Also I cannot find it on the land registry, is this strange?
Thanks in advance :)
«134

Comments

  • J_i_m
    J_i_m Posts: 1,342 Forumite
    Offer it.. But don't be surprised if the vendor says "lol no".
    :www: Progress Report :www:
    Offer accepted: £107'000
    Deposit: £23'000
    Mortgage approved for: £84'000
    Exchanged: 2/3/16
    :T ... complete on 9/3/16 ... :T
  • richardw
    richardw Posts: 19,470 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If you want it, perhaps just put in a final and best offer and don't muck about, if it's worth more than £260,000 they're just gonna say no and where will it've got you.
    Posts are not advice and must not be relied upon.
  • sirmosh
    sirmosh Posts: 701 Forumite
    What matters most is how realistic the asking price is, if similar properties go for around the same price then your offer will probably be far too low. If similar properties can be found nearby closer to your offer then the asking price is probably a bit unrealistic and you might stand a chance (although if the vendor is unrealistic about the value they will still probably decline).
  • k3lvc
    k3lvc Posts: 4,174 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Why £260k rather than £250 to bring below SD threshold.

    It can be done if the seller is desperate enough - ours started at £395k and we eventually paid £250k
  • it-is-only-me
    it-is-only-me Posts: 19 Forumite
    tbh, there is nothing around like it, The last property sale within the postcode was for £250,000 in 2006 same size property, more land but no barns. Its a tricky one because it is sold as a farm but only stands in less than 1 acre as a whole. Too big to be a house but too small to be a farm. Our tops would be £280,000 at a push.
  • it-is-only-me
    it-is-only-me Posts: 19 Forumite
    250,000 would be perfect & I would try but I think their response might begin with an F lol
  • it-is-only-me
    it-is-only-me Posts: 19 Forumite
    k3lvc wrote: »
    Why £260k rather than £250 to bring below SD threshold.

    It can be done if the seller is desperate enough - ours started at £395k and we eventually paid £250k


    so there is hope for us yet
  • RedfordML
    RedfordML Posts: 914 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Why not, nothing really to lose?

    They say the average house is sold 8% less than asking price. Obv lots of different factors will influence a sale price. gl
  • Fuzzyness
    Fuzzyness Posts: 635 Forumite
    nothing ventured nothing lost. if they say no, think what you would happy to increase your offer up to. if you dont try it someone else will.
  • Carl31
    Carl31 Posts: 2,616 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    its an offer, the most they can say is no

    The fact its been on the market for years speaks volumes anyway
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.6K Banking & Borrowing
  • 254.5K Reduce Debt & Boost Income
  • 455.5K Spending & Discounts
  • 247.5K Work, Benefits & Business
  • 604.3K Mortgages, Homes & Bills
  • 178.6K Life & Family
  • 261.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture