What to offer on £291k house with motivated sellers?

Idiophreak

£291k!? In the north!? That must be a palace!

Seriously, though, as everyone else has said - find out what they paid and find out what houses are selling for - that's the only way you're going to know if £250 is worth a punt.

A lot of people these days expect offers of 10% below the asking price...at 291, that would be offers of 262 - so 250 isn't a million miles away....especially as offers typically jump from 250 to 265/270 due to stamp duty...That said, I imagine they've priced that high to make the point that they're expecting 265/270, *not* 250...

patchwork_cat

What did they buy it for? What do zoopla say it is worth?

[Deleted User]

I agree that I don't think you have a hope of getting an offer of £250k accepted.

I had my house on the market a couple of years ago and it was valued at about £310k. I was keen to sell and would have accepted maybe £285k but really, everyone is aware of the SD barrier and if they were prepared to take £250k then I think they would have put it on the market for around £265k. Anything priced over £275k is done specifically to avoid the 'under £250k' offers.

Idiophreak

victoria61 wrote: »

I agree that I don't think you have a hope of getting an offer of £250k accepted.

I had my house on the market a couple of years ago and it was valued at about £310k. I was keen to sell and would have accepted maybe £285k but really, everyone is aware of the SD barrier and if they were prepared to take £250k then I think they would have put it on the market for around £265k. Anything priced over £275k is done specifically to avoid the 'under £250k' offers.

Yep, I'd like to buy somewhere for £250k at the mo...So I search for £0-270k, reasoning that anything above £270k is a long shot to get for £250k.

DigForVictory

No matter how motivated the sellers, an offer of 250 is Extremely Cheeky, unless the neighbour sold last month at 220.
Research is all!

picky123

song_of_calliope wrote: »

We could afford to go a bit over the stamp duty threshold, say up to £265k, but before we did that on this house we would probably offer £250k on a different house that's on the market at £260k and likely get it. But we strongly prefer the one that's on at £291k.

The problem is, that you are looking at houses which are out of your price range. Of course you prefer the house for £291k, rather than £265k, as it will be a much nicer house, which is the reason why it is more expensive.

Why dont you stick to your budget, rather than wasting your time thinkign about it, and the sellers time.

DRP

picky123 wrote: »

The problem is, that you are looking at houses which are out of your price range. Of course you prefer the house for £291k, rather than £265k, as it will be a much nicer house, which is the reason why it is more expensive.

Why dont you stick to your budget, rather than wasting your time thinkign about it, and the sellers time.

apparently it does happen, so it might be worth a punt....

Stratus wrote: »

I once bought a house for 250k which had previously been marketed at 300k so your suggestion is not completely ludicrous. They are keen to move and have been on the market for a while so that counts in your favour.

It would help if you could find some recent comparable sales to substantiate your offer.

Idiophreak

picky123 wrote: »

The problem is, that you are looking at houses which are out of your price range. Of course you prefer the house for £291k, rather than £265k, as it will be a much nicer house, which is the reason why it is more expensive.

Based on the OP, it doesn't seem the house is out of the OPs pricerange...in fact, they explicitly say they could go to 265, which sounds like it could be a strong offer..it's just more than they want to spend.

misssaver12

We put an offer on a house for £250 for a place on the Market for £295 and it was rejected... Know from the EA the sellers were not impressed. House had been on the Market for 6 months and they are keen to move but not that much... They purchased it for 86 thousand several years ago.

song_of_calliope

We ended up putting in £265k and that got rejected, so we checked our finances, scraped together everything we have and offered £270k in the end which was accepted. So there would have been no point in offering the £250k in our case anyway.

I do still think it could be a good strategy to go around offering £250k on houses like the one we got just in case (in the North and other non-booming areas that is) - but for us we realised we really loved the house and didn't want to lose it.