Putting in an offer - how low is acceptable?

titusbungle

We have been for a second viewing on a property that we like, the house itself and it's location are ideal however all the walls will need skimming as well as the bathroom and kitchen updating / replacing. The property is on the market for £137995, it's a 3 bed semi in the North West of England.
Looking at property bee it has been on the market since December and they have dropped the price from £145k to £140k previously. Would £125k be an insult? It's 10% less and would mean not paying stamp duty. They have had other viewings but nobody has made an offer.

R_P_W

Why are you bothered about insulting them? It is a house! Offer what you think it is worth, the only people who can tell you whether it is acceptable is the seller

DRP

R_P_W wrote: »

Why are you bothered about insulting them? It is a house! Offer what you think it is worth, the only people who can tell you whether it is acceptable is the seller

^^yeah this

no doubt they will have either have received or be expecting offers at the stamp duty threshold, given how the property is priced.


Don't worry about offense - only the most thin-skinned vendor will get offended about offers. Offer 121 (which will be rebuffed), then 123.5 with the likelihood of being pushed to 125 :cool:

gingerdad

What have other houses in the area sold for.

We offered abut 85k for a 95k when we Bought our house and got it for 92k

patricia..xx

Your prices are nearly exactly the same as I was asking about yesterday. Let's do it together and see how we get on ;-)

Oh hang on, mine is £100k more but still....they must be expecting the stamp duty thing

DilbertJones

I'm considering offering on a property tomorrow after we have had our second viewing.

Was listed May 2nd for Offers in the region of £165, was reduced Wed 19th to O.I.R.O £159

In my opinion, as it needs a new Kitchen, bathroom & conservatory it is worth around £140, however it has a very sizeable garden...... wife thinks £150.... What to do???

titusbungle

Thanks for the replies everyone, really helpful! We're going to try £123k first - they can always say no! Thanks again!

Dan-Dan

Is it just my area where the EA will not pass on `insulting offers` ?

I speak as a vendor and buyer , as a vendor , we agreed a stategy , as in 4 weeks et ££ , 4 weeks at £££ etc , and honestly , now we have sold , my EA has told me of at least 3 offers not passed on as they were below the threshold of each given marketing period.....

Then , as a buyer , we saw a house that did it for us , was up for £189 at the time , vendors had bought it at 175j on late 2011 , needs updating , etc , we went in at £165 , the EA point balnk said he would not be passing it on as he was insulted as would be his vendors....

Obviously we could have passed the offer via letter or something directly , but something tells me , that i sort of agreed with the EA , put it on at 189 and get an offer at 165 ? i suppose it could be seen as a bit of a joker trying it on..?

Duskylady

Dan-Dan wrote: »

Then , as a buyer , we saw a house that did it for us , was up for £189 at the time , vendors had bought it at 175j on late 2011 , needs updating , etc , we went in at £165 , the EA point balnk said he would not be passing it on as he was insulted as would be his vendors....

Obviously we could have passed the offer via letter or something directly , but something tells me , that i sort of agreed with the EA , put it on at 189 and get an offer at 165 ? i suppose it could be seen as a bit of a joker trying it on..?

I've heard of the too. I can't believe it though. I think if I was a seller I'd want to know about all offers even if they were a joke. Unless there is a predetermined limit at which the seller has asked to be informed. Is this something sellers do! I'm a FTB so not sure.

Dan-Dan

I think a lot of it is the estate agents reputation as well , if they have convinced a seller that their house can achieve x amount , i dont suppose it makes it look to impressive if they pas on offers ££££ under the mimium they said they could get you

This probably applied in both cases i refer to in my experience

titusbungle

We offered £123k which has been rejected - they will not go below £135k. My issue is not so much with the price but having to pay stamp duty, the EA said that we could offer X amount and request that they pay the stamp duty for us - is this allowed? It doesn't help if they just knock it off the agreed price as most of it would be mortgaged - we would require that they pay the actual amount. Any advice appreciated.