If purchase price is listed as £270K -£300 is it useless offering under £270?

olympicsmummy

We have seen a lovely house we like. I know we should offer what we feel it is worth but obviously we want it for the lowest possible!

If it is listed on right move as offers between £270 000 - £300 000 then would we be silly for even trying to offer say £265 000? Should we just offer £270 000 (our max we can afford is £275 000)

Thanks in advance

OddballJamie

Offer them £250k to get under stamp duty higher rate.
Never seen the point in advertising a low and a high price unless there's massive demand for the house.

mrsmchapman

I've never seen this before, seems odd to me. I would still just offer what I feel its worth and ignore the guideline

olympicsmummy

oddball jamie I like you're style!! You don't think they'll laugh at us?? And MrsMChapman people always say offer what you think its worth which i understand but I dont really know how much its worth... perhaps £280 but I want to pay less!.. I Want to get it for as low as i can without sounding stupid putting in too low an offer

mrsmchapman

Have you looked what other houses as sold for to try and give you a rough guide?

Mint1955

Offer 250 and quote being under stamp duty price

Dan-Dan

If you offer 250k , i bet you money , the EA wont even pass it on , especially if the house hasnt been up long

DRP

olympicsmummy wrote: »

oddball jamie I like you're style!! You don't think they'll laugh at us?? And MrsMChapman people always say offer what you think its worth which i understand but I dont really know how much its worth... perhaps £280 but I want to pay less!.. I Want to get it for as low as i can without sounding stupid putting in too low an offer

It is impossible to judge as personal circumstances vary - if a vendor is desperate Or if it has been on the market a while they may snap up a 250 offer..

I would probably offer at around 10% off ie. 243k. Then work up to 250k (-7.5%) . This way the vendor feels they have 'worked you' a bit ..

Oh and do this first...

mrsmchapman wrote: »

Have you looked what other houses as sold for to try and give you a rough guide?

you may find you are totally kidding yourself to get this house under the stamp duty threshold ie. the house is priced appropriately already..

LandyAndy

Bit of a difficult range to deal with. People asking 270 are often resigned to not getting more than 250 because of the stamp duty but people asking 300 expect to be getting 285-295. I guess these people fall into the latter category and are trying to put a marker down that 270 is their bottom line. Not that I think it is a good way of doing it but..

Have you actually viewed the house? I'd do that before I got too tied up in the exact price I'd offer. It may be very different in reality to the pictures.

olympicsmummy

very helpful so far people thank you.
Yes I've checked the area and I would say it's worth £270 not £300. If I think its worth £270 I guess I still offer under though?

The owner is a young professional who has got a new job 100 miles away. He is fed up with the 2 hour each way commute so is looking to sell. I've driven passed a few times at different times to see if he's ever in or if hes actually renting where he now works!

RedfordML

Remember its just a guide price 270k-300k.

Do your own research, if you thinks it worth around the 270k mark, offer around 260k and ask vendors to contribute to stamp duty?

You want to getting it for 265k...