Would you be offended if someone offered under asking price?

Wyndham

It's a business transaction, and you need to treat it as that. You need to take emotions out of this process now, or you're going to have a rollercoaster few weeks/months.

And if you have offended them, so what? Why would that matter if you felt you'd made a fair offer (and I think you've made a more than fair offer). Will you feel offended if they reject it?

Good luck, and I hope all goes smoothly for you.

KeepFighting_2

End of the day the house is worht the price you are willing pay for it. Life is to short to regret what could have been, it is your home after all so only you know if it is worth it.

Biggles

PasturesNew wrote: »

I looked on RM and it'd eventually sold at £130 (having also been priced at £150k, then £140k).

Is it possible to check the sale price on RM, or just the last price it was offered at?

ukcarper

Biggles wrote: »

Is it possible to check the sale price on RM, or just the last price it was offered at?

Yes there is a drop down menu house prices or you could used a site like net house prices. It can take a few months after sale for price to appear.

Tancred

al_1232 wrote: »

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?

It depends. I'm selling a house for £267k and recently received an offer for £250k - I politely asked my agent to tell the viewer to get stuffed. Obviously the stamp duty threshold is a factor for properties around this price level, but to make an offer £17k below the asking price is an insult. If the viewer had made an offer for £265k I would most likely have accepted it. In my view, it's not a good idea to make offers for more than c.3% below the asking price.

It's unfortunate that we have a culture of haggling over house prices in this country. It doesn't happen to anything else other than cars perhaps - you don't haggle at the Tesco till if you feel you've spent too much, or at the filling station when you fill up the car. A price is a price - you either pay it or you don't.

sensiblesaver55

Wow, I would think that in this market an offer of £250k on a £267k house is a pretty good one! But where I am nobody is buying....

lazer

Tancred wrote: »

It depends. I'm selling a house for £267k and recently received an offer for £250k - I politely asked my agent to tell the viewer to get stuffed. Obviously the stamp duty threshold is a factor for properties around this price level, but to make an offer £17k below the asking price is an insult. If the viewer had made an offer for £265k I would most likely have accepted it. In my view, it's not a good idea to make offers for more than c.3% below the asking price.

It's unfortunate that we have a culture of haggling over house prices in this country. It doesn't happen to anything else other than cars perhaps - you don't haggle at the Tesco till if you feel you've spent too much, or at the filling station when you fill up the car. A price is a price - you either pay it or you don't.

I think you are going to have your work cut out for you if you want more than the £250k, in your viewers position i would proably have offereed the same. It a offer of 94% of the asking price - which is relatively good in this market, although depends on how good of value your hosue is and if it priced realistically to start with.

Tancred

PasturesNew wrote: »

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.

No, I think you have the mental issues it seems to me, if you think you can offer thousands below the asking price and expect success. Maybe up north you can get away with it, but in the cluttered south-east no chance, unless the seller is desperate to move.

Tancred

lazer wrote: »

I think you are going to have your work cut out for you if you want more than the £250k, in your viewers position i would proably have offereed the same. It a offer of 94% of the asking price - which is relatively good in this market, although depends on how good of value your hosue is and if it priced realistically to start with.

It depends. If we were desperate to sell, we would probably settle, but we want a good price to trade up. Anyway, I listed the house only last Sunday and I've had six viewings booked so far - so I don't think the price is unreasonably high.

PS - I live in the rich and cluttered south-east!

moneyistooshorttomention

Tancred

I sympathise. I've just whipped out my calculator and thought "Yep - I'd be prepared (note word "prepared", rather than "happy") to agree an offer 3% down from the asking price I've put on the house (having worked out what looks like a fair price to me - and not overpriced, as I judge a couple of nearby houses to be). But 6% would likely merit a refusal from me.

Now, if I were someone nearby who started by trying to charge £10,000 more for his house than the price I have decided on for mine (and his house is one room smaller than mine) then I could go for 6% off and still feel I had got a good deal. But, not with the way I've carefully priced-out and compared all round to get to what I feel is reasonable in the first place. Have I studied the local market or have I studied the local market to see what I feel is the spot on the button price...whew....and I reckon its a "priced to sell" price.

and some of us have to bear in mind the bottom line beneath which we cant afford to move, as we wouldnt be able to get the type of place we are looking at.

Oh well....have now worked out that I will offer £5k less than asking price on the house in particular I have my eyes on (if it matches up to the photos) IF and thats a very big "if" unfortunately he can deal with a certain problem that would cause me not to take the house at any price - so the knock-on effect of me getting a reasonable price for mine will equal someone else gets a reasonable price for theirs from me....