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

richardw

carslet wrote: »

...even though i bought i still expect houses to fall by another 20%..

Where in the Uk is this house?

the_flying_pig

I can't say I've ever looked at a place where the vendors would seroiusly consider a 20% haircut.

But if this one's been up for sale for fully two years then I'd suggest that a number of the 'normal rules' may not apply.

So go for it. What's the worst that can happen?

carslet

richardw wrote: »

Where in the Uk is this house?

north west , falling prices in this region

carslet

Eton_Rifle wrote: »

Nor will they be as long as we have 'formula' buyers, like Carslet above.
These people just take a percentage off by rote so it gets built into the pricing system in an attempt to achieve the objective house value.

all i did was look on nethouse prices or rightmove, and see the prices they were going for in 2004-2005 and never went above that price, ok night have been a pain going to see them all and making th cheeky offers,
but in the end i got what i wanted at a not too bad price, 32% from the peak, :T

and i know i would still be looking but there are some desperate sellers coming to the market

bluedrop

carslet wrote: »

all i did was look on nethouse prices or rightmove, and see the prices they were going for in 2004-2005 and never went above that price, ok night have been a pain going to see them all and making th cheeky offers,
but in the end i got what i wanted at a not too bad price, 32% from the peak, :T

and i know i would still be looking but there are some desperate sellers coming to the market

Is this in London???

carslet

bluedrop wrote: »

Is this in London???

no not at all,i mean the north west of the UK not the NW of london, sorry

adindas

The fact speaks itself. There are few houses sold with a reduced price even more than 20%..

You have nothing to lose but something to gain.

But I agree with the previous post, the fact that it has been in the market for over two years will mean the house owner does not seem want to sell his/her house seriously. So it might happen s/he will not budge, but if this happens just move on ...

Just be aware, some owners especially in case of chained properties, they are just an opportunistic: buy-low, find uninformed buyers sell-high, bag profit, next thing - move on, do the same thing bag profit again. Nothing wrong with it, but you defenitely do not want to happen to you if you are on the buyer's side and therefore try to avoid it .........

BigAlC

As an aside to this (as it's a similar conversation) I've been doing some searching through here and this type of comment frequently comes up;

gmang wrote: »

Can't believe noone offered the correct answer - get some friends of yours to view the place and put in offers around £15-20k lower than your offer, that should make them think twice about rejecting you!

Is there any law relating to this? Or is it just part and parcel of playing the games like EA's do with phantom bidders?

gibby9

carslet wrote: »

no not at all,i mean the north west of the UK not the NW of london, sorry

Inverness?

Loopgames

Eton_Rifle wrote: »

Nor will they be as long as we have 'formula' buyers, like Carslet above.
These people just take a percentage off by rote so it gets built into the pricing system in an attempt to achieve the objective house value.

That's probably balanced out by sellers who wait a few years before they get their asking price worth or never sell and keep their property on the market for an inflated price...swings and roundabouts really.

Good for Carslet for having the sense to formulate a simple strategy and sticking to it.