Would you be offended if someone offered under asking price?

YoungBaker

Random question here and I know this will definitely depend on your individual personalities and obviously what you expect to sell your house for (ie. I think most people say for example sell their house with a buffer, advertised at £80k but would settle for say £75k).

Anyway we have underoffered today (£75k on an offers £77500) and plan to have a bit of legroom to up this if we need, but are starting to consider if the sellers may end up offended etc. (especially as they have fitted new carpets, leaving white goods etc.)

Anyway, just wondering - would you personally be upset or offended if someone offered less than you have asked for? Or would you shrug it of, reject and ask them to up it?

Also, typically when you / seller rejects an offer is it practice to indicate what you would settle for instead? Or would you just point blank reject?

MarkBargain

Of course not, it's normal. Never start by offering the asking price.

My house was for sale for £110K and someone offered £80K! I rejected it but wasn't overly upset.

PasturesNew

Anybody who gets upset/offended has serious mental issues .... it's well known that what an EA "values" a house at and what a seller wants is utter b0ll0x.

YoungBaker

Haha yeh this is what we are thinking and I think our offer is a fair starting price and as I say lets us negotiate up to our max if and when the seller rejects.

Just dont want to have offended anyone but at the end of the day we are FTB in a good position and ready to move so I think this has some weighting behind our offer also, and the property has been for sale for 6 months.

Also, typically when you / seller rejects an offer is it practice to indicate what you would settle for instead? Or would you just point blank reject?

arbrighton

No- to be honest, I would expect an offer under asking, just how much under and whether vendor considers it acceptable

BertieUK

Far from it......I would look upon it with positive vibes because an offer is an interest, they have to start somewhere with the offer and build from there.

I would be very unhappy if I got several viewings but no offers, then I would worry.

YoungBaker

Some very good points. Thanks!

Pretty certain we are going to get our offer knocked back tomorrow which is fine, but then need to evaluate what our next offer will be and hope they go for that. If only the buying of a house was a 1 stage simple process eh

Paul-Green_2

al-1232 - its the world we live in now init - people expect this sort of thing,

greg2415

We had our offer accepted well below the asking price, we were told to start at 80% of the asking price. It was up for £170k and we started at £135k. They accepted £145k! It obviously depends on the seller, location, competition, all sorts! sometimes they just need to sell!

greg2415

And first offers will always get rejected if its below the asking price, just don't go back straight away with another offer when they say no. Give it at least 24hrs, unless its in high demand, but don't think it's that kind of market at the minute.

YoungBaker

It is funny how some people have differing opinions though!

Anyway hoepfully we havent offended anyone and i will update you when we hear back from the vendors!