Negotiating House Offers

BertieUK

sensiblesaver55 wrote: »

Thanks for your replies. We are not in a rush to buy and we've looked at less than 10 properties in total so I'm in no doubt that if this house doesn't work out then there'll be another one along soon.

The property has had no offers on it so far.

Out of interest DannyboyMidlands how many houses did you offer on before you got the one you mention?

If you are not in a rush to buy that is fine but how much do you like the property?

The longer that you leave it pending the greater chance you have of losing it, the choice is yours.

SG27

I agree with the other guys saying offer low. We got the 5th house we offered on. It was on for £235k and we offered £206k then £210k which was accepted. When telling a family member about our first offer he said "Blimey that's a kick in the b*****ks isn't it!" I actually thought it was quite a good offer!

thequant

After making your offer, if the Vendor doesn't weep, you have offered too much!!

orcocan

do you guys think this approach still works? particularly in London?

i went for my first cheeky offer today (the vendor trying to sell two flats in east london, allegedly looking for a quick sale) and the agent told me that the offer got rejected and that "the market has changed" (at least in London)

any thoughts?

moneyistooshorttomention

thequant wrote: »

After making your offer, if the Vendor doesn't weep, you have offered too much!!

or kick you in the *****:rotfl::rotfl:

SG27

orcocan wrote: »

do you guys think this approach still works? particularly in London?

i went for my first cheeky offer today (the vendor trying to sell two flats in east london, allegedly looking for a quick sale) and the agent told me that the offer got rejected and that "the market has changed" (at least in London)

any thoughts?

I can't speak for London but worked well for me next door in Essex.

Lizling

orcocan wrote: »

do you guys think this approach still works? particularly in London?


any thoughts?

Not in London, no. Prices here are higher than ever but the number of properties available is still quite low, so it's far from a buyer's market.

RoxieW

DannyboyMidlands wrote: »

Not that many. We offered on 3 including the one we bought over a period of say 4 months.

1. Our favourite. Family selling on behalf of elderly owner. Nice place but needed work. On for around £180k. We figured that would be a fair enough cost to us including any work. Couldn't get them to accept our offer of around £160k. Our numbers didn't work at a higher price.

2. Half-finished refurb/decoration including the yet to be installed flooring etc. Would have been ok for the right price. Couldn't get the right price.

3. Our current house. Repo. Cheapest place we could find and haven't regretted that for a second.

With respect, a repo is a different kettle of fish completely